The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
- Bank of America® Platinum Plus® Mastercard® Business card
A good no-annual-fee business card with unlimited employee cards
- NoneRewards Rate
- 16.49% – 27.49%VariableAPR
- $0Annual Fee
- Good–ExcellentRecommended Credit
We use a well-defined and standardized methodology for reviewing credit cards. Our approach includes gathering data from the CFPB database, standardizing data points for easy comparison, predicting average spending patterns, determining long-term value and doing periodic re-rankings.
Bank of America® Platinum Plus® Mastercard® Business card is best for higher-staffed companies that want to provide company credit cards to their employees, as there’s no limit on the number of employee cards you can open. In the first 90 days of opening your account, you'll also get a $300 statement credit if you spend $3,000 in net purchases.
Bank of America® Platinum Plus® Mastercard® Business card Overview
- $0 annual fees
- Earn $300 as a statement credit if you spend $3,000 on purchases in the first 90 days
- Intro 0% APR offer on purchases for the first 7 billing cycles, then a variable APR of 16.24% – 27.24% after that
- Set up automatic bill payments
- Free access to cash management tools
- Complimentary travel accident insurance, auto rental insurance, emergency ticket replacement and lost luggage assistance
- Zero liability protection
Important Card Details
Before applying for any credit card, it's important to read the terms and conditions to confirm that it's a suitable card for you.
When you open your account, the Bank of America® Platinum Plus® Mastercard® Business card provides a regular APR ranging from 16.24% – 27.24% for purchases and balance transfers based on your personal or business creditworthiness. This APR may change based on the prevailing prime rate.
Balance Transfer APR and Fees
This card's variable APR for balance transfers ranges from 16.24% – 27.24%. This provider also charges balance transfer fees of $10 or 4% of the amount of each transaction, whichever is greater.
Cash Transfer APR and Fees
The variable APR for cash transfers on this card is 29.24% and varies with the market based on the Prime Rate. This company also charges a $10 cash transfer fee or 4% of the transaction amount, whichever is higher.
This provider charges 3% of the U.S. dollar amount for each transaction.
Late Payment Fees
Late payment penalties are charged by the Bank of America® Platinum Plus® Mastercard® Business card based on your balance.
- Balances less than or equal to $100 will accrue a late payment fee of $19.
- Balances between $100.01 and $1,000 will accrue a late payment fee of $29.
- Balances between $1,000.01 and $5,000 will accrue a late payment fee of $39.
- Balances more than $5,000 will accrue a late payment fee of $49.
There are other features of the Bank of America® Platinum Plus® Mastercard® Business card that may make it a worthwhile addition to your wallet.
- Paperless statements: Bank of America offers paperless credit card statements to improve account security.
- Overdraft protection: When you connect your credit card to a Bank of America business checking account for overdraft protection through Balance Connect, you can prevent declined transactions, returned checks or other overdrafts.
- $0 fraud liability: Bank of America takes liability for unauthorized transactions.
- Fraud monitoring: This provider frequently monitors your account for fraudulent activity, freezes your account if strange trends and alerts you of the possible fraudulent activity.
How the Bank of America® Platinum Plus® Mastercard® Business card Compares To Other Cards
This credit card stands out from the crowd when compared to others in its class. In the end, your decision should be dependent on how much you will be using your credit card.
How the Bank of America® Platinum Plus® Mastercard® Business card Compares
Bank of America® Platinum Plus® Mastercard® Business card
- Reward: No rewards
- Regular APR: 16.24% – 27.24% Variable
- Late Payment: Up to $49
- Best for: Small businesses looking to save money on interest rates
Capital One® Spark® Classic for Business
- Reward: Unlimited 1% cash back on every purchase
- Regular APR: 30.49%
- Late Payment: Up to $39
- Best for: Small businesses that want to enjoy unlimited cash back on purchases
Frequently Asked Questions
- Bank of America. "Platinum Plus Mastercard Business Card." Accessed April 13, 2022.
- Capital One. "Capital One® Spark® Classic for Business." Accessed April 13, 2022.
- Bank of America. "Credit Card Account Management FAQs." Accessed April 13, 2022.
- Consumer Finance Protection Bureau. "Credit card agreement database." Accessed May 3, 2022.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.