For small business owners looking to build or rebuild their credit, choosing the right credit card can make a big difference. The Business Advantage Unlimited Cash Rewards Secured Business Credit Card from Bank of America offers a unique opportunity to earn consistent rewards while strengthening your business’s financial profile.
With unlimited 1.5% cash back on all purchases, no annual fee, and the potential to graduate to an unsecured card, this secured credit card delivers more than just basic functionality. It’s a strategic tool that rewards responsible use and helps position your business for future financial opportunities.
Business Advantage Unlimited Cash Rewards Secured Business
Build up your credit history 1.5% cash backKey Benefits of the Business Advantage Unlimited Cash Rewards Secured Credit Card
- Unlimited 1.5% Cash Back: Earn a flat 1.5% cash back on every purchase, with no spending categories to track and no limits on how much you can earn.
- No Annual Fee: Keep your overhead low—this card charges no annual fee, making it ideal for budget-conscious businesses.
- Credit-Building Power: Payments and account activity are reported to business credit bureaus, helping you establish or rebuild your business credit.
- Secured Deposit Sets Your Limit: Your credit limit is based on your refundable security deposit, starting at $1,000, giving you control over your spending boundaries.
- Potential to Graduate: Bank of America reviews accounts regularly and may offer an upgrade to an unsecured business credit card based on performance.
- Flexible Reward Redemption: Redeem your cash back as a statement credit, direct deposit into a Bank of America checking or savings account, or as a credit to a Merrill investment account.
- Employee Card Access: Issue additional cards for employees at no cost and set spending limits to control company expenses.
- Built-in Protections: Enjoy travel accident insurance, fraud monitoring, and zero liability protection on unauthorized purchases.
Rates and Fees
- Annual Fee: $0
- Purchase APR: Variable, based on the market Prime Rate (approx. 27.49% at the time of writing)
- Security Deposit: Minimum of $1,000 required (refundable)
- Foreign Transaction Fee: 3% of the U.S. dollar amount
- Late Payment Fee: Up to $49
- Penalty APR: May apply for missed payments
Requirements and How to Apply
Basic Requirements
- Must be at least 18 years old
- Must have a valid Social Security Number or Tax ID
- Must operate a small business located in the U.S.
- Must provide a refundable security deposit (minimum $1,000)
How to Apply
- Visit the official Bank of America page
- Click “Apply Now”
- Fill out the secure application form with your business and financial information
- Submit the required deposit
- Receive a credit decision—often within minutes
Frequently Asked Questions
1. Is this card only for businesses with poor credit?
No. It’s ideal for businesses building or rebuilding credit, but even newer businesses with limited history can benefit from its features.
2. Will I get my deposit back?
Yes. Your security deposit is refundable and may be returned if you upgrade to an unsecured card or close your account in good standing.
3. Does this card help with personal credit?
No. This card reports only to business credit bureaus, not to personal credit reporting agencies.
4. Are there any welcome bonuses?
No, this card does not offer a sign-up bonus. The main value comes from the ongoing unlimited 1.5% cash back.
5. Can I use the card internationally?
Yes, but a 3% foreign transaction fee applies to purchases made outside the U.S.
6. How is the credit limit determined?
Your credit limit matches the amount of your security deposit, starting from $1,000.
Final Thoughts
The Business Advantage Unlimited Cash Rewards Secured Business Credit Card offers a rare combination: the ability to earn unlimited cash back and build credit at the same time. With no annual fee, flexible redemption options, and the chance to transition to an unsecured card, it’s a reliable tool for small business owners looking to grow responsibly and be rewarded for it.
