*WATCH ME APPLY* Bank of America Business Credit Card (Business Advantage Unlimited Cash Rewards)
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- Опубликовано: 8 сен 2024
- Watch me apply for the Bank of America Business Advantage Unlimited card with a targeted $500 offer! I’ll walk you through the application, show you my credit score, and more. Did I get approved? Watch to find out! Click “Show More” to see Ad Disclosure.
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The Bank of America Business Advantage Unlimited Cash Rewards credit card is an excellent business credit card for small businesses. While it doesn’t have high rewards rates in select categories, what it does offer is massive simplicity. It earns 1.5% cash back on all purchases with no limit and no annual fee. For some business owners, that alone is the biggest benefit as there isn’t much to manage.
While the public offer at the moment is to earn a $300 statement credit after spending $3K in the first 3 months, I received a targeted offer by mail for a $500 statement credit after spending $5K in the first 3 months.
Since it was expiring on April 28, 2023, and since I had taxes to pay, I decided to apply to see if I could get approved!
Here are my main reasons for applying…
1. The $500 welcome offer is great, especially for a credit card with no annual fee. I view it as getting $500 off my taxes.
2. No annual fee. Should I decide to keep this credit card long term, it won’t cost me anything.
3. It’s a Bank of America business credit card, and those are known to NOT report to your personal credit report. This means it won’t have any effect on my credit score (except for the initial hard inquiry, which may drop my credit score by a few points, but only temporarily). For this reason, it also doesn’t affect the Chase 5/24 rule and I won’t have to be concerned about high credit card utilization dropping my score.
4. I want to build credit history for my business / LLC.
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#creditcards #bilt #creditcardapply
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Thank you Mark; great video. I too am a BofA customer with personal checking and savings and also my home mortgage. I followed exactly what you did, including going to the same website (the $500 offer was still available). They pulled my Transunion report (score was 742) and was approved for $10k!
Congrats on your approval! Enjoy the new card & thanks for sharing your data point 💯
Thank you. I applied for the secure card and got approved
Congrats on the approval!
Congrats on the new card Mark! Solid that BofA is targeting you with those elevated welcome offers. Low-key jealous, haha. Hopefully my time will come eventually 👍!
Keep an eye out for yours!
Congratulations on the approval! Hope you get the enjoyment out of your new credit card!
Thank you!
I really love “Watch me apply “videos ! Thank you so much !
Glad to hear it!
Hey Mark! Everytime I watch you apply it gives me the courage to do the same and yet again I applied after watching your video and got approved!!! Lol :)
Great to hear it! Congrats on the approval!
Hello Mark, thank you for all you do. I was approved 3 weeks ago for $13,500. A few data points: no current relationship with BOA, 740 Avg credit score. Here’s what’s crazy I have a combined 62 inquiries across all bureaus. Thoughts?
Congrats on your approval! No further thoughts needed. Enjoy the card.
Where did they pull from?
Nice!! Were they more than 6 months or not really?
HI.. I was approved for the Bank of America Business Adv Unlimited Cash Rewards using your 500 bonus website instead of getting 300. :). I called in and verified. Thank you!!
Fantastic, congrats on the approval for the card w/ the $500 bonus! Thanks for using the site, too! Enjoy it 💯
Congrats on another new card Mark! Although paying taxes at the end of the year kinda sucks, it's nice to be able to get a new card out of it.
Question for y'all: Do their business cards get any boost if you're a part of their tier system (i.e. Platinum Honors, etc.)?
Sadly, personal and business are separate. So if you're PH on the personal side, this doesn't count for business. You need to have assets in your business accounts and there is an identical but separate program called Preferred Rewards for Business 😐
They've got a separate program for business ("Bank of America Preferred Rewards for Business"). Here's a link: www.bankofamerica.com/preferred-rewards/business-advantage/
@@TheCreditFrog I appreciate you Stan! My resident BofA expert saving me again haha
@@MarkReese Thanks Mark!!
Well I didn’t end up applying for the Venture X but instead I applied for the CSP and got approved with a $17,300 limit and I used your referral code so hopefully your not maxed out and get a nice chunk of points from my approval🙌🏽. I’ll be applying for the Bilt MasterCard in a couple of months so I’ll use your referral for that as well.
Right on! Congrats on the CSP approval, Chris! Phenomenal limit as well🔥 Thanks for using the link; enjoy the card!
I'm glad you didn't apply for the Capital One Venture X. Their cards report to your personal credit.
I'm glad you didn't apply for the Capital One Venture X. Their cards report to your personal credit.
There is a box for "miscellaneous services" and also maybe more applicable another for "business services, not elsewhere classified".
Thanks!
Congrats on the approval! Enjoy the new card!
Thanks Manny!
FYI you can get a second one with the same inquiry within 30 days Ps got the same card same limit and second card 4k unfortunately only $300 bonus but that $750 😮
Cool thanks for sharing that!
I was declined for a application on the card and offered a secured card.
Ah bummer. The secured version could get you in the door, though.
Congrats Mark! Enjoy!
Thanks! 👊
Bank of America Business Platinum Elite Cash Rewards Unlimited Preferred Triple Advantage Signature Plus Visa
Coming Soon, Fall 2023 😂
Congrats on the new card!
Thanks Kevin!
They always do.
👍
It automatically filled in your SSN that means it’s not really business credit. It’s great to have a relationship with the bank but using your SSN is a personal guarantee and not separate from your business credit/EIN. This will result in a hard pull on your personal credit.
Of course. Nearly all small business cards by the major banks I can think of require a personal guarantee. Even if entering an EIN, the SSN is often required as well, and a hard pull is still done. Not many cards have EIN-only option.
Mark have you ever had a situation when you get denied, then call the reconsider line,1 days later you get an email saying you're approved, go online the account is there,then a day later when you go back unline the account is gone,and no one can explain when you call the bank
Nope ✌️
@@MarkReese 🤔 thaught so
Congrats, Mark! Kinda hard to turn down a targeted offer like that when the spend is already necessary! What card is this, number 42?
Thanks! I think it was 52.
@@MarkReese wow! time for an updated video of all the cards you have! is your goal 100?
@@DJOctober - Nah...I'm looking forward to some cancellations 😂
I hate having to use my SS# for business credit. I want a non PG!! Any work arounds for that?
I hear ya! No workarounds that I'm aware of for this card.
Great informative video as always
💯👍
Was that you timing the first commercial to come right when you were hitting the submit button?
I opened a slot for an ad to appear there, but I don't control if it gets filled.
@@MarkReese ah, that makes sense. Felt it would be way too random otherwise. 👊
$500 after spending 5 grand?? That's actually terrible. What are the advantages of this card over the visa version? Thta one gives you $200 after spending 1000.
The Visa version is a personal card, which I didn't want. Completely separate product, though the rewards are the same.
@@MarkReese Thanks for the reply, that certianly makes sense
what are BoA restrictions for getting a 2nd welcome bonus on their business cards? i got this card in march of 21 (however still have one open) also i only do sole prop at the moment.
See the 'Bank of America application rules' section of this blog post from OMAAT: onemileatatime.com/guides/credit-card-application-rules
did Bank of America Require a pg?
Yes. Nearly all small business credit cards from the major banks require a personal guarantee.
Mark, I may have missed it if you did a video, but I am looking for a business card with a welcome bonus AND zero percent financing for awhile. Is that possible? Thank you
This one is an example of that.
Both the BoA Business Advantage Unlimited + BoA Business Advantage Customized Cash have public offers of a $300 statement credit + 0% APR on purchases for 9 months.
The Chase Ink Business Cash + Chase Ink Unlimited cards are even better at $750 cash back + 0% APR on purchases for 12 months.
Search around. Plenty of offers exist.
@@MarkReese thank you so very much for your reply. I will apply today after work.
Congratulations!
Thank you!
Do you still have the Bank of America premium rewards credit card?
Yep. Forgot to mention it in the video.
Hi Mark, do you know if I can use delta gift card for lounge access? Purchased one last year when there was an offer from AMEX and haven’t use it. It’s delivered via email with card number and pin, curious if it will work. Thanks
If you're asking about buying a day pass, Delta no longer sells those. (Exception = if you have the Delta SkyMiles Platinum card, which allows you to buy a pass for $50 and I think it needs to be charged to the card).
If you're asking about applying it towards an annual membership, I'm not sure.
@@MarkReese thanks Mark, referring to the day pass that I would have to pay to bring guest in with AMEX Platinum - sounds like it needs to be charged to the card. Appreciate the response
When did you stop getting as many targeted offers in your credit journey?
Maybe because of too many credit cards reported on his profile? I haven’t gotten targeted offers in along time either
@@Imma-Super-Vegeta that’s what I was thinking but I was just curious about where. Around 25, 30 etc
I don't recall. It was years ago.
Do you need a llc for business credit ?
Nope.
Hi
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Congrats on the new card!
Thanks!