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Financial institution of America Enterprise Benefit Limitless Money Rewards Credit score Card Assessment

ByEditorialTeam

Sep 3, 2022

Insider’s specialists select the most effective services and products to assist make sensible selections together with your cash (right here’s how). In some instances, we obtain a fee from our our companions, nevertheless, our opinions are our personal. Phrases apply to gives listed on this web page.

The Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card
earns an easy 1.5% money again on all purchases (no cap), comes with an honest intro APR, and has versatile redemption choices.

In case your small enterprise is on the lookout for easy rewards and first rate advantages for no annual price, then the Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card is value contemplating. However for those who spend massive in sure classes (like journey purchases and workplace provides), or are on the lookout for increased reward charges, there are higher no-annual-fee small-business playing cards in the marketplace.  


Common APR


14.49% to 24.49% variable


Beneficial Credit score Rating


Glorious


Common APR


14.49% to 24.49% variable


Beneficial Credit score Rating


Glorious

Execs

  • You possibly can earn a $300 welcome bonus provide
  • 1.5% money again on all purchases with no cap
  • No annual price

Cons

  • Some playing cards provide longer intro APR and better rewards charges
  • You have to be a Most popular Rewards member to earn increased rewards
  • 3% international transaction price

Extra Info

  • The data associated to the Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card has been collected by Enterprise Insider and has not been reviewed by the issuer.
  • No annual price
  • Earn limitless 1.5% money again on all purchases

Assessment: Is the Financial institution of America Enterprise Benefit Limitless Money Rewards the most effective bank card for you?

Insider’s Featured Small Enterprise Credit score Playing cards

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Chevron icon It signifies an expandable part or menu, or generally earlier / subsequent navigation choices.

Earn 3% money again on eligible purchases at gasoline stations and EV charging stations, workplace provide shops, cellphone service suppliers and eating places. 1% money again on all different eligible web purchases. Earn 5% money again on pay as you go inns and automobile leases booked immediately within the Journey Rewards Middle.

$500 money again after spending $4,500 on purchases on the account holder’s card within the first 150 days of opening your account

Earn 5% money again on the primary $25,000 spent in mixed purchases at workplace provide shops and on web, cable and cellphone companies every account anniversary yr. Earn 2% money again on the primary $25,000 spent in mixed purchases at gasoline stations and eating places every account anniversary yr. Earn 1% money again on all different purchases.

$750 bonus money again after you spend $7,500 on purchases within the first 3 months from account opening

Earn limitless 1.5% money again on each buy made for what you are promoting.

$750 bonus money again after you spend $7,500 on purchases within the first 3 months from account opening

If what you are promoting bills fluctuate, and you do not wish to juggle spending classes, it’s best to think about the no-annual-fee Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card. It earns limitless 1.5% money again on each buy and a strong welcome bonus: a $300 assertion credit score after you spend $3,000 in purchases within the first 90 days of your account opening. 

This card is nice for people trying to earn easy flat-rate rewards on enterprise bills, with no cap on how a lot you’ll be able to earn. And there are strong redemption choices so you’ll be able to resolve one of the best ways to make use of your money again.

People on the lookout for excessive reward earnings on choose bonus classes (like money again on journey bookings and workplace provides) ought to think about a distinct cash-back card. For instance, the Financial institution of America Enterprise Benefit Personalized Money Rewards Credit score Card
earns 3% on a class of your selecting (gasoline, journey, workplace provides shops, laptop companies, and enterprise consulting companies) and a couple of% on eating, and 1% on the whole lot else.  

The Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card has robust advantages for a no-annual-fee card. You may get journey emergency protection (comparable to $100,000 in journey accident insurance coverage, auto rental insurance coverage, and misplaced baggage insurance coverage), overdraft safety, and prolonged guarantee protection. Nonetheless, it does have a international transaction price, so it isn’t a very good choice for worldwide journey. 

In the event you’re on the lookout for luxurious journey advantages, you would possibly wish to think about a premium journey rewards card. Though good journey playing cards typically come at a value, companies that spend loads on journey would possibly discover the beneficiant advantages greater than value it. 

But when your small enterprise would not spend massive in a single class, the Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card undoubtedly nonetheless value contemplating since you will earn rewards on a number of spending classes with out restrictions. Plus, for those who’re a Financial institution of America Most popular Rewards member, which requires assembly sure account steadiness necessities, you’ll be able to earn as much as 75% additional cash again on purchases. 

The Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card has a 0% intro APR on purchases for the primary 9 months from account opening (then a 14.49% to 24.49% variable APR). That is nice for small companies needing to repay bigger purchases (like tools, computer systems, or different provides) over a number of billing cycles. Nonetheless, the 0% APR deal would not apply to steadiness transfers, so it isn’t a very good choice for people attempting to pay down bank card debt. 

There are additionally different small enterprise rewards playing cards with longer intro APR offers. For instance, the U.S. Financial institution Enterprise Triple Money Rewards World Elite Mastercard® gives a 0% intro APR on purchases and steadiness transfers for 15 billing cycles (then a 16.24% – 25.24% (Variable) APR). So if you’ll want to prioritize APR gives, it’s best to think about a bank card with a big introductory APR provide

We’re centered right here on the rewards and perks that include every card. These playing cards will not be value it for those who’re paying curiosity or late charges. When utilizing a bank card, it is essential to pay your steadiness in full every month, make funds on time, and solely spend what you’ll be able to afford to pay.

Learn how to earn money again from the Enterprise Benefit Limitless Money Rewards card

The Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card earns an easy 1.5% money again (equal to $0.015 for each $1 spent) on all purchases, with no cap. Your rewards will not ever expire so long as your account is open. 

Plus, Financial institution of America Most popular Rewards members can earn as much as 75% additional cash again on purchases (charges fluctuate primarily based on tier degree). This implies you’ll be able to earn as much as 2.62% money again on all purchases (no cap). 

The Most popular Rewards program additionally earns you advantages comparable to a reduction on ATM transaction charges, money again on eligible payroll service charges, and reductions on industrial actual property loans. 

Learn how to use money again rewards from the BofA Enterprise Benefit Limitless Money Rewards

You possibly can redeem cash-back rewards earned with the Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card as an announcement credit score, a verify, a direct deposit into your Financial institution of America checking or financial savings account, or as a credit score to an eligible Merill funding account. Rewards are redeemable at any time. 

Whereas your rewards will not expire, needless to say money rewards checks will expire after 90 days. So for those who want to obtain money again as a verify, be certain to deposit it into your Financial institution of America account in a well timed method. Or you possibly can skip the additional step altogether and redeem your rewards as a direct deposit. 

Financial institution of America Enterprise Benefit Limitless Money Rewards advantages and options

$0 legal responsibility safety

In case your Financial institution of America account is misplaced or stolen, and also you notify the financial institution in a well timed method, you will not be held answerable for unauthorized transactions. However for those who do not report the misplaced or stolen card, you will not be eligible to obtain this profit. 

Money move administration instruments

Your online business will get entry to administration companies comparable to automated funds, transfers, and the flexibility to obtain transactions into QuickBooks. 

Journey and emergency companies

You may obtain journey advantages like auto rental insurance coverage, emergency ticket substitute, misplaced baggage assurance, and authorized and medical referrals whereas touring. Most notably, you will get $100,000 in journey accident insurance coverage. 

On-line and cellular entry

You possibly can securely handle your account both on-line or by the Financial institution of America app. Whether or not on-line or within the app, you’ll be able to verify what you are promoting’s steadiness and monitor account exercise. 

Overdraft safety

You possibly can keep away from declined purchases or returned checks whenever you hyperlink your Financial institution of America checking account to an eligible bank card. Plus, you will not obtain an overdraft price (different charges should still apply). 

Fraud safety and monitoring

Financial institution of America will notify you if it detects doubtlessly fraudulent exercise or irregular patterns. 


Common APR


14.49% to 24.49% variable


Beneficial Credit score Rating


Glorious


Common APR


14.49% to 24.49% variable


Beneficial Credit score Rating


Glorious

Execs

  • You possibly can earn a $300 welcome bonus provide
  • 1.5% money again on all purchases with no cap
  • No annual price

Cons

  • Some playing cards provide longer intro APR and better rewards charges
  • You have to be a Most popular Rewards member to earn increased rewards
  • 3% international transaction price

Extra Info

  • The data associated to the Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card has been collected by Enterprise Insider and has not been reviewed by the issuer.
  • No annual price
  • Earn limitless 1.5% money again on all purchases

Charges and prices

The Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card comes with an honest 0% intro APR on purchases for the primary 9 months from account opening (then a 14.49% to 24.49% variable APR). 

It has a steadiness switch price, a money advance price, a late cost price of as much as $49, and a 3% international transaction price. For the reason that card costs a international transaction price, it isn’t a very good card to journey internationally with. 

Enterprise Benefit Limitless Money Rewards vs different Financial institution of America bank cards

*On the Financial institution of America Enterprise Benefit Personalized Money Rewards Credit score Card, earn 3% and a couple of% money again on as much as the primary $50,000 spent in these classes mixed every year, then 1% money again

***Eligible Financial institution of America Enterprise Benefit Personalized Money Rewards Credit score Card 3% classes are gasoline stations, workplace provide shops, journey, TV/telecom & wi-fi, laptop companies, and enterprise consulting companies

Enterprise Benefit Limitless Money Rewards vs different enterprise money again playing cards

*On the Financial institution of America Enterprise Benefit Personalized Money Rewards Credit score Card, earn 3% and a couple of% money again on as much as the primary $50,000 spent in these classes mixed every year, then 1% money again

***Eligible Financial institution of America Enterprise Benefit Personalized Money Rewards Credit score Card 3% classes are gasoline stations, workplace provide shops, journey, TV/telecom & wi-fi, laptop companies, and enterprise consulting companies

Financial institution of America Enterprise Benefit Limitless Money Rewards often requested questions (FAQ)

In case your small enterprise is on the lookout for a no-annual-fee cash-back card with simple rewards charges, first rate advantages, and a strong welcome bonus, the Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card could be a very good match. The cardboard additionally has a beneficiant introductory APR on purchases, which might profit people attempting to repay bigger purchases with out incurring curiosity. The Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card earns much more money again for Most popular Rewards members. 

But when what you are promoting spends massive in choose classes, you are in all probability higher off with a rewards card that earns bonus rewards particularly in these classes. Additionally, if you’ll want to pay down bank card debt, it’s best to search for a card with an APR deal that covers steadiness transfers in addition to purchases. 

You want glorious credit score to qualify for the Financial institution of America® Enterprise Benefit Limitless Money Rewards Credit score Card. That is a FICO rating of no less than 800, or a VantageScore of no less than 781. 

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