The Bank of America Unlimited Cash Rewards Business Credit Card is a no-annual-fee business card that earns 1.5% cash back on all purchases without category restrictions. Bank of America issues it on the Visa Business network.
The card is designed for small business owners seeking flat-rate rewards without the complexity of category tracking, and it offers an elevated earn rate for businesses enrolled in Bank of America’s Preferred Rewards for Business program.
What the product is structurally
Structurally, the Unlimited Cash Rewards Business Card is a revolving credit card. Cash rewards are earned at a uniform rate across all merchant categories and are redeemable as a statement credit, direct deposit, or check.
The Preferred Rewards for Business program allows eligible customers to earn 25%, 50%, or 75% more cash back depending on their enrolled tier (Gold, Platinum, or Platinum Honors). These tiers are tied to qualifying Bank of America and Merrill investment account balances. At the Platinum Honors tier with $100,000+ in qualifying balances, the effective cash back rate increases to 2.625% on all purchases.
Employee cards are available at no additional cost.
How it works in practice
Every eligible purchase earns 1.5% cash back. No enrollment, category selection, or monthly opt-in is required. The rate applies to domestic and international purchases.
Businesses enrolled in Preferred Rewards for Business earn a multiplied rate based on their tier. The program multiplier applies automatically — no separate activation is needed once the Preferred Rewards tier is established.
Cash rewards can be redeemed at any time with no minimum threshold required. Redemption options include a statement credit applied automatically, a deposit to a Bank of America checking account, or a check via mail.
The welcome bonus, as of early 2026, is $300 after spending $3,000 in purchases within the first 90 days of account opening.
Fees and pricing mechanics
There is no annual fee. Bank of America does not charge foreign transaction fees on this card.
The variable APR applies to balances carried beyond the payment due date. There is also a 0% introductory APR on purchases for a defined period from account opening; current terms are disclosed at application.
The Preferred Rewards multiplier is not a separate fee or credit mechanism — it adjusts the earn rate upward based on the qualifying balance tier maintained in Bank of America and Merrill accounts.
Limits, eligibility, and availability
Eligibility requires a U.S. business and a personal guaranty from the applicant. Bank of America evaluates both business and personal creditworthiness.
Access to Preferred Rewards for Business requires maintaining qualifying combined balances. The Gold tier requires $20,000, Platinum requires $50,000, and Platinum Honors requires $100,000; these thresholds are spread across eligible Bank of America business deposit accounts and Merrill business investment accounts.
The card is available to U.S.-based businesses operating as sole proprietorships, LLCs, partnerships, and corporations.
Tradeoffs, risks, or limitations
The base rate of 1.5% is lower than the 2% offered by no-annual-fee competitors like the Wells Fargo Signify Business Cash Card and the Amex Blue Business Cash Card (within its $50,000 cap). Without Preferred Rewards enrollment, the card’s cash back rate is structurally less competitive at the base level.
The elevated Preferred Rewards rate requires substantial qualifying balances — $100,000 to reach the 2.625% rate. Businesses that do not maintain significant banking and investment relationships with Bank of America and Merrill will not access this benefit.
Redemption options are relatively flexible, but all cash rewards are denominated in dollars with no transfer partner access. Businesses seeking points for airline or hotel awards would need a different card.
See also: Bank of America Business Credit Cards Comparison, BofA Cash Rewards Business Card Review
