Rewards & next steps

How to Apply for the Business Advantage Customized Cash Rewards Card

★Here's how to get the most from this card. Follow the steps below, then apply on the issuer's official site.

Applying is done online directly through Bank of America's business credit card portal. Approval typically hinges on both your business details and your personal credit history, since most small-business cards, including this one, generally require a personal guarantee from the owner.

Before you apply, decide which of the six 3% categories matches your business's biggest recurring expense — you'll select it during the application (or default to gas/EV charging), and afterward you can change it only once per calendar month through your online account.

Step by step

1. Check your eligibility: Review your personal credit standing — good to excellent credit improves approval odds — and confirm you have an active US business, whether a sole proprietorship, LLC, or corporation.
2. Gather your business information: Have your EIN or Social Security number, legal business name and structure, estimated annual revenue, time in business, and business address ready before starting the application.
3. Choose your 3% category: Pick the category that matches your single largest recurring business expense from the six available options; you can change your selection later online, but only once per calendar month.
4. Submit the online application: Apply directly through Bank of America's business credit card page. Many applicants receive an instant decision, though some applications require extra identity or income verification and take longer.
5. Activate and link your account: Activate the card, set up online or mobile business banking access, and if you already bank with Bank of America, look into Preferred Rewards for Business to potentially boost your cash-back rates.

Tips & mistakes to avoid

• Check your personal credit score before applying — Bank of America typically looks for good to excellent credit on the business owner's report.
• If you already have a Bank of America business checking account, look into Preferred Rewards for Business before applying; reaching Platinum Honors status meaningfully boosts your cash-back rate.
• Pick the 3% category that matches your single largest recurring expense, not just the one that sounds most useful — the boosted rate only applies to one category at a time.
• Track your combined choice-category and dining spending against the $50,000 annual cap so you know when your rate drops to 1% for the rest of the year.

FAQ

Will applying affect my personal credit score?

In most cases, yes. Bank of America typically runs a personal credit check as part of the application, which can cause a temporary dip from a hard inquiry.

Can I apply as a sole proprietor without an EIN?

Yes, sole proprietors can generally apply using their Social Security number if they don't have a separate EIN for the business.

How long does approval take?

Many applicants receive an instant decision online, though some applications require additional verification and can take several business days to process.

Advertiser disclosure: general information only, not financial advice. We are an independent publisher, not a card issuer or lender. Confirm current terms on the issuer's official site.