Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card
- Best for: Business owners who can’t qualify for an unsecured business card yet
- What Sets It Apart: Cash back on a secured card that builds your business’s credit file, up to 2.625% with Preferred Rewards for Business
- Rewards: 1.5% cash back on every purchase, no cap; 1.875% to 2.625% for Preferred Rewards for Business members
- Features: Reported to Equifax for Business, not your personal credit reports while in good standing; periodic reviews can return the deposit while you keep the card; free employee cards; free Dun & Bradstreet business scores in Business Advantage 360
- Annual Fee: $0
- Security Deposit: $1,000 minimum, refundable; your credit line equals your deposit; it earns no interest
- APR: 26.99% variable on purchases and balance transfers
- Cost: 3% foreign transaction fee; 5% balance transfer and cash advance fees; late fee up to $49
- Eligibility: Business owners and authorized officers 18 or older, sole proprietors with a Social Security number included; approval may depend on personal credit
- Pros: Up to 2.625% back with Preferred Rewards for Business; free employee cards; the deposit can come back while you keep the card
- Cons: $1,000 minimum deposit; no published review timeline; personal liability for the balance; 3% foreign transaction fee
Get the Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card if you can’t qualify for an unsecured business card yet and can spare a $1,000 deposit. It pays 1.5% cash back with no annual fee and reports to a business credit bureau, so it builds your business’s credit, not your personal score.
It’s for owners building business credit who can’t yet get Bank of America’s unsecured Business Advantage Unlimited Cash Rewards, which pays 1.5% too, with no deposit. If you came here from our Union Bank Business Secured Visa review, that card went away after U.S. Bank bought Union Bank in 2022.
Key Features
- 1.5% cash back on every purchase, with no cap
- A refundable deposit of $1,000 or more, which sets your credit line at the same amount
- $0 annual fee and a 26.99% variable interest rate (APR)
- Payments reported to Equifax’s business credit bureau, and kept off your personal credit reports while the account is in good standing
- Open to a side business, since sole proprietors can apply with a Social Security number
Pros
- 25% to 75% more cash back, which works out to 1.875% to 2.625%, through Preferred Rewards for Business, for owners with business checking and a $20,000 to $100,000 average balance at Bank of America and Merrill
- Free employee cards
- Periodic reviews, which weigh all your cards and loans and your Bank of America relationship, can return your deposit while you keep the card
- Cash back as a statement credit, a check, or a deposit to a Bank of America or Merrill account
Cons
- A $1,000 minimum deposit, five times the $200 Bank of America’s personal version takes
- No published timeline for the deposit reviews
- You’re personally liable for the balance, along with your business
- 3% fee on purchases made in a foreign currency
- The deposit earns no interest
It suits owners who can’t qualify for an unsecured business card yet, and paying every card and loan on time is the habit that can get the deposit back.
If it’s your personal credit that needs work, rebuild credit with a secured card in your own name, like Bank of America’s Unlimited Cash Rewards Secured, which earns the same rate on a $200 deposit.
Learn more about the Business Advantage Unlimited Cash Rewards Mastercard® Secured Credit Card or see how it compares to the best secured credit cards.
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