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Boost your rewards by 75 percent with Bank of America’s Business Advantage Relationship Rewards program

Earn a 25- to 75-percent bonus on your cash back through the Relationship Rewards program

Summary

Read on for everything you need to know about the Business Advantage Relationship Rewards program, including what it is, how much you can earn and how to qualify.

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The Bank of America® Business Advantage Cash Rewards Mastercard® just got a little richer for business owners who want more control over how they earn rewards – now competing with top business credit cards. Now, in addition to earning 2 percent cash back on dining and 1 percent back on general purchases, cardholders receive a 3-percent bonus in one of six choice categories, including gas stations, office supply stores, travel, TV/telecom and wireless, computer services and business consulting services. (Note, the bonus is earned on the first $50,000 in combined choice category/dining purchases each calendar year, then 1 percent.)

While the opportunity to earn 3 percent cash back on the category of your choice is a very generous offer, you can earn an extra 25- to 75-percent bonus on those rewards through Bank of America’s Business Advantage Relationship Rewards program. So instead of earning 1 to 3 percent back on your purchases, you have the potential to earn 1.75 to 5.25 percent cash back.

Read on for what you need to know about the Business Advantage Relationship Rewards program, including what it is, how much you can earn and how to qualify.

What is the Business Advantage Relationship Rewards program?

The Bank of America Business Advantage Relationship Rewards program is comprised of three tiers: Gold, Platinum and Platinum honors. Each tier is based on the combined balances in your Bank of America business deposit accounts and/or Merrill Edge and Merrill Lynch business investment accounts.

Because the program is designed to provide a variety of benefits that grow as your business and balances grow, the higher your combined balances are, the higher your tier and cash back bonus will be.

See the Relationship Rewards earning tiers:

TierGoldPlatinumPlatinum honors
Required balance (3-month average combined balance)$20,000 to $49,999$50,000 to $99,999$100,000 or more
Credit card rewards bonus25%50%75%

Along with offering a rewards bonus on eligible business credit card purchases, the program offers the following perks:

  • No fees on select services, including cashier’s checks, overdraft protection, transfers from deposit accounts, stop payments and more.
  • Cash rewards for merchant services processing
  • Interest rate booster on a Business Advantage Savings account

Once you are enrolled in the Relationship Rewards program, you will automatically be moved up when your balances qualify you for the next rewards tier. If your balances happen to dip below the required amount, you will continue to receive the program benefits for your current tier until the next anniversary of your Relationship Rewards enrollment.

See Related: Is the Bank of America Business Advantage Cash Rewards Mastercard right for your business?

How much can you earn?

With the Bank of America Business Advantage Cash Rewards card’s current rewards rate and sign-up bonus, the average business owner who spends $4,000 each month on company expenses can earn approximately $743 in cash back annually.

Bank of America® Business Advantage Cash Rewards Mastercard® credit card
Rewards rate:

  • 3% cash back on choice category
  • 2% cash back on dining (for first $50,000 in combined choice category/dining purchases each calendar year)
  • 1% cash back on all other purchases

Sign-up bonus: $300 sign-up bonus when you spend $3,000 in first 90 days

Annual fee: $0

Estimated yearly rewards earnings ($4,000 monthly spend): $743

Note: To calculate the average rewards rate, we gathered data on average business spending to determine both category and overall spend. We assume the average business cardholder spends $4,000 per month with the following weighting:
  • 63% on general purchases
  • 12% on dining/entertainment purchases
  • 11% on gas
  • 3% on computer/internet services
  • 3% on office supplies
  • 3% on travel and transport
  • 2% on insurance
  • 2% on telecommunications
  • 1% on utilities

However, with the 25- to 75- percent rewards bonus, the yearly rewards value drastically increases.

TierNon-program memberGold tier memberPlatinum tier memberPlatinum honors tier member
Rewards rate
  • 3% cash back on selected choice category
  • 2% cash back on dining
  • 1% cash back on all other purchases
  • 3.75% cash back on selected choice category
  • 5% cash back on dining
  • 1.25% cash back on all other purchases
  • 5% cash back on selected choice category
  • 3% cash back on dining
  • 1.5% cash back on all other purchases
  • 5.25% cash back on selected choice category
  • 5% cash back on dining
  • 1.75% cash back on all other purchases
Yearly rewards value ($4,000 monthly spend)$743$806$965$1,128

Once you factor in the card’s $300 sign-up bonus after spending $3,000 in the first 90 days, you have the potential squeeze more than $1,100 in rewards value from the card each year with Platinum honors status. That’s $385 more than a non-program member.

In fact, if you max out the $50,000 yearly spend cap on the 3-percent bonus, you can earn close to $3,000 cash back in the first year of card membership.

TierNon-program memberGold tier memberPlatinum tier memberPlatinum honors tier member
First year value ($50,000 spend in choice category)$50,000 x 3% + $300 = $1,800$50,000 x 3.75% + $300 = $2,175$50,000 x 4.5% + $300 = $2,550$50,000 x 5.25% + $300 = $2,925

How do you qualify?

The Relationship Rewards program is open to Bank of America Small Business, Merrill Lynch Small Business and U.S. Trust Small Business clients. To be eligible, you must have an active eligible Bank of America business checking account and a three-month average combined daily balance of $20,000 or more in qualifying Bank of America business deposit accounts and/or Merrill Edge and Merrill Lynch business investment accounts.

To see if you qualify, sign in to your Bank of America online banking account.

See Related: Is the updated Bank of America Business Advantage Cash Rewards Mastercard the best small business card?

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Credit Card Rate Report Updated: May 19th, 2019
Business
15.61%
Airline
17.50%
Cash Back
17.60%
Reward
17.62%
Student
17.79%

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