Bank of America just increased the sign-up bonus on both the WorldPoints Travel Rewards for Business Visa and Cash Rewards for Business MasterCard to $200 cash back after spending $500 within the first 60 days. Read more about these and other great business credit card offers here.

For both of these cards the new offer is double the standard sign-up offer of $100. The minimum spending requirement is considerably low at only $500, but take note that you must complete before 60 days of account opening.

These cards are fairly under exposed, so let’s take a quick look at what they have to offer.

Bank of America Cash Rewards for Business MasterCard

The Bank of America Cash Rewards for Business MasterCard is a strict cash back earning credit card that offers high bonus earning categories.

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Right now you can earn $200 as a sign-up bonus after spending $500 within the first 60 days.

The bonus and cash rewards earned on the card is awarded as a statement credit or applied to a Bank of America savings or checking account.

The card earns the following rewards:

  • 3% cash back at gas stations and office supply stores
  • 2% at restaurants
  • 1% on all other purchases

Note that the terms and conditions regarding the sign-up bonus states that “One $200 statement credit allowed per company”.

I’m unsure about the possible of being approved for more than one Bank of America business credit card on the same day, but if you try to grab more than one card make sure you apply using different businesses. This alone may make it difficult to get approved for multiple cards if you are not instantly approved.

The card does not have an annual fee, but does have a 3% foreign transaction fee, which makes it undesirable to use on international trips.

Bank of America WorldPoints Travel Rewards for Business Visa

The Bank of America WorldPoints Travel Rewards for Business Visa is a business travel rewards credit card that offers extra rewards earning when you spend through Bank of America’s Travel Center.

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The current sign-up bonus is for $200 after spending $500 within the first 60 days of account opening. You will also earn 5,000 bonus points after the first purchase, which makes the total sign-up bonus worth $250 since WorldPoints are worth 1.0 cent each when redeemed at their maximum value.

The card earns the following rewards:

  • 3x points for every $1 spent for travel booked through Bank of America’s Travel Center
  • 1.5x points on all other purchases

The card does not have an annual fee and also has no foreign transaction fees.

Redeeming WorldPoints

WorldPoints can be redeemed for gift cards, cash, and travel purchases as a statement credit. The maximum value you can get from WorldPoints is 1.0 and is when you redeem for travel, travel credit, and gift cards at higher denominations.

Here are the different ways you can use WorldPoints and the value you can expect get:

  • Redeem for Travel – 1.0 cent per point in value.
  • Redeem with a Travel Credit – 1.0 cent per point in value.
  • Redeem for Gift Cards – up to 1.0 cent per point in value.
  • Redeem for Cash – 0.6 cents per point in value.

When you make eligible travel purchases you can redeem points for a travel credit up to 6 months online and 12 months by phone from the date of purchase. The redemption period is much longer than the Barclaycard Arrival Plus which only allows redemption on travel purchases made within the last 120 days.

Check out these and other top business credit cards offers here

The Bottom Line

The Bank of America WorldPoints Travel Rewards for Business Visa and Cash Rewards for Business MasterCard are now offering an increased sign-up bonus of $200 after spending $500 within 60 days.

As business card offers go they don’t stack up to the most lucrative offers out there, but they could be of interest for anyone trying to stay under Chase’s 5/24 rule. Since business credit cards currently do not appear to be counted under 5/24 one strategy could be to focus on business credit card sign-up bonuses.

Barclaycard Arrival Plus™ World Elite MasterCard®


Bonus: 40,000 miles after spending $3,000 in the first 90 days.

Benefits:
-- 2X points per dollar spent on all purchases.
-- Get 5% of your miles back when you redeem your points, to use on your next redemption.
-- Chip+PIN technology, which can be useful for international travel.
-- Complimentary online FICO® Credit Score
-- No foreign transaction fees.

Annual fee: $89

Quick review: The Arrival Plus card is one of my favorite all-around 2X earning cards. The 50,000 mile sign-up bonus is worth $525 in free travel and easy to redeem!