Bank of America® Platinum Plus® Mastercard® Business card Review
| Highlights | Credit Card Feature |
|---|---|
| Things We Like | $300 statement credit offer |
| Our Least Favorite | Does not let you earn rewards |
| Our Verdict | Easy-to-use card with business features |
Bank of America® Platinum Plus® Mastercard® Business card is a credit card for small businesses with an exclusive online bonus offer which is very generous. By spending at least $3,000 on purchases within the first 90 days of account opening, you will receive a $300 statement credit bonus. While this credit card does not let you earn rewards on every dollar that you spend, it does offer a handful of features and benefits your business can take advantage of, cash flow management tools, overdraft protection, travel and emergency services.
Here I'll do a detailed review of Bank of America® Platinum Plus® Mastercard® Business card and tell you how this credit card fares and what it has to offer.
Things We Like About Bank of America® Platinum Plus® Mastercard® Business card
Earn a $300 statement credit. As a welcome offer, you will earn a $300 statement credit bonus after making at least $3,000 in net purchases in the first 90 days of your account opening. This is a great opportunity to get Bank of America® Platinum Plus® Mastercard® Business card if you have been thinking of getting a business credit card.
No annual fee. You do not have to pay to use this credit card because it has no annual fee.
Travel and emergency services. Bank of America® Platinum Plus® Mastercard® Business card offers travel services that your business may need, including $100,000 in travel accident insurance, auto rental insurance, emergency ticket replacement, lost-luggage assistance and the option to get extended protection.
Free employee cards. You can get unlimited employee cards at no additional cost and you can set each card's credit limit. This makes it convenient when it comes to keeping track and consolidating business expenses.
Fuss-free electronic payments. With Bank of America® Platinum Plus® Mastercard® Business card, you can enjoy the benefit of automatic bill payment. All you have to do is schedule hassle-free electronic payments with automatic bill payment. This way, you save yourself from being slapped with a late payment fee of up to $49 and interest charges.
Online and mobile access. You can manage your account online 24/7 with secure Online and Mobile Banking. You can check your balance as well as keep an eye on account activity for you and your employees easily.
Chip card. Credit cards with chip technology - now the security standard in the United States - give you more security and peace of mind. What's more, you can enjoy greater card acceptance worldwide in more than 130 countries thanks to the chip card.
$0 Fraud Liability. You enjoy zero liability protection for unauthorized transactions made on your account. Bank of America® will notify you of any suspected fraudulent activity in addition to blocking potential fraud if unusual patterns are detected.
Extra protection. Besides protecting you from fraudulent transactions, you will also receive extra protection for misuse by terminated employees as well as protection for most purchases against fire, theft, damage or loss. Terms and conditions apply.
Overdraft protection. This is an optional service that you can use to avoid declined purchases, returned checks or other overdrafts when you link your Bank of America® Platinum Plus® Mastercard® Business card to a Bank of America® business checking account for overdraft protection.
Our Least Favorite Things About Bank of America® Platinum Plus® Mastercard® Business card
Does not let you earn rewards. Unlike some other business credit cards available on the market that let you earn rewards such as cash back or rewards points on your purchases, Bank of America® Platinum Plus® Mastercard® Business card does not have a rewards program. This could be a bummer for some because credit card rewards can help you save a lot of money since you can redeem them for things like travel, statement credit, gift cards and more.
Foreign transaction fee. If you and your employees travel overseas frequently for business, or if your business makes international transactions regularly, the 3% foreign transaction fee levied on transactions in foreign currencies can easily add up. So, this is something you might want to give some thought to before deciding if you want to get this credit card.
How Other Cards Compare With Bank of America® Platinum Plus® Mastercard® Business card
| Intro APR: | 0% on Purchases for 12 months from date of account opening and 0% on Balance Transfers for 12 months |
|---|---|
| Regular APR: | 13.24% - 19.24% Variable |
| Annual Fee: | No annual fee |
| Credit Required: | Excellent, Good |
| See Rates & Fees | Terms Apply |
| Intro APR: | 0% intro APR on purchases and balance transfers for 12 months |
|---|---|
| Regular APR: | 13.24% - 19.24% Variable |
| Annual Fee: | No annual fee |
| Credit Required: | Excellent/Good |
| See Rates & Fees | Terms Apply |
| Intro APR: | N/A |
|---|---|
| Regular APR: | 15.74% - 24.74% Variable |
| Annual Fee: | $95 |
| Credit Required: | Excellent, Good |
| See Rates & Fees | Terms Apply |
Bank of America® Platinum Plus® Mastercard® Business card is a basic business credit card that offers an amazing bonus offer which lets you earn a $300 statement credit bonus after making at least $3,000 in net purchases in the first 90 days of your account opening. This is truly a standout feature because most credit cards that offer a welcome bonus of this amount typically require you to spend an equivalent of several thousands of dollars within the first couple of months of account opening.
Bank of America® Platinum Plus® Mastercard® Business card provides useful features for businesses, including an unlimited number of free employee cards, a suite of online services to help manage your business credit card transactions and payments, as well as travel and emergency services.
If you have good or excellent credit, you should consider getting a rewards card, which rewards you for your everyday spending! GET.com has a comprehensive Rewards Credit Cards section offering rewards such as cash, gift cards, flights, hotels, and many others. We also have a Business Credit Cards section with special card offers for small business owners, many of which don't charge any annual fee. Students can get one of the many Student Credit Cards to start building their credit. If you have bad or no credit, browse through our Credit Cards for Bad Credit and Credit Cards For Fair Credit. You can also check out the Best Credit Cards.
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