Bank of America Platinum Business Review: Bare-Bones in Every Way
This $0 -annual-fee small business credit card has a short 0% APR period, a modest sign-up bonus and no ongoing rewards.
Overview
The bottom line:
Its most notable feature is the potential for a lower-than-average ongoing APR for those who qualify, but other small-business cards can offer a lot more value.
Credit card details
Annual fee
$0
Regular APR
15.24%-26.24% Variable APR
Intro APR
0% intro APR on Purchases for 7 billing cycles
Rewards rate
N/A
Foreign transaction fee
3% of the U.S. dollar amount of each transaction
Intro offer
$300
Get a $300 online statement credit after you make at least $3,000 in net purchases in the first 90 days of your account opening.
Pros & Cons
Pros
No annual fee
New cardholder bonus offer
Cons
Requires excellent credit
No rewards
Foreign transaction fee
Short Intro APR period
More details from Bank of America
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Save on interest with a competitive purchase APR.
- No annual fee.
- 0% Introductory APR on purchases for the first 7 billing cycles. After the intro APR offer ends, a Variable APR that's currently 15.24% to 26.24% will apply.
- Get employee cards at no additional cost to you and with credit limits you set.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Credit card comparison
Compare to other cards
2.3
NerdWallet rating
at Bank of America
Annual fee
$0
Annual fee
$0
Annual fee
$0
Regular APR
15.24%-26.24% Variable APR
Regular APR
17.24%-23.24% Variable APR
Regular APR
17.49%-23.49% Variable APR
Intro APR
0% intro APR on Purchases for 7 billing cycles
Intro APR
N/A
Intro APR
0% intro APR on Purchases for 12 months
Need more options? Check our picks for best business credit cards of 2025
The Bank of America® Platinum Plus® Mastercard® Business card doesn’t offer a lot of value for your business expenses. You won't earn ongoing rewards on your spending, and the features that the issuer touts — like fraud monitoring and an EMV chip — are standard on virtually all credit cards.
The only reason you might want to consider this product is if you have excellent credit. With a credit score of 720 or higher, you could potentially qualify for a relatively low ongoing APR that saves you money if you carry a balance. But there’s no certainty that you’ll get that rate, since issuers also evaluate other factors such as debts and income to determine eligibility.
Other business credit cards
Bank of America® Platinum Plus® Mastercard® Business card: Basics
Card type: Small business.
Annual fee: $0.
Sign-up bonus: Get a $300 online statement credit after you make at least $3,000 in net purchases in the first 90 days of your account opening.
Ongoing rewards: None.
Intro APR: 0% intro APR on Purchases for 7 billing cycles, and then the ongoing APR of 15.24%-26.24% Variable APR.
Other benefits:
- Overdraft protection: If you link your card to an eligible
Bank of America® business checking account - Travel and emergency services: As a cardholder, you're eligible for up to $100,000 in travel accident insurance and auto rental insurance, emergency ticket replacement, lost–luggage assistance and the option to get extended protection.
Why you're better off passing on the Bank of America® Platinum Plus® Mastercard® Business card
No ongoing rewards
Other business cards on the market have similar attributes to the Bank of America® Platinum Plus® Mastercard® Business card, but many of them also earn rewards on your ongoing spending. One example is the Ink Business Unlimited® Credit Card
A short 0% intro APR
The Bank of America® Platinum Plus® Mastercard® Business card offers an intro APR: 0% intro APR on Purchases for 7 billing cycles, and then the ongoing APR of 15.24%-26.24% Variable APR. (You’ll get a potentially low ongoing interest rate if you can qualify for it, but even with an excellent credit score, that's not a given.) The Blue Business® Plus Credit Card from American Express rates and fees
A foreign transaction fee
If you plan on making any purchases from overseas, don't charge them to the Bank of America® Platinum Plus® Mastercard® Business card. The card carries a foreign transaction fee of 3% for every international purchase you make. The $0-annual-fee Capital One Spark Cash Select
Is the Bank of America® Platinum Plus® Mastercard® Business card right for you?
Probably not. Plenty of other $0-annual-fee business cards best credit card offers
To view rates and fees of The Blue Business® Plus Credit Card from American Express, see this page