Small Business Owners Can Qualify for a $500 Welcome Bonus With This No-Fee Card

The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card offers a simple way for small business owners to earn cash rewards in 2026.

The welcome bonus is easy to understand: earn $500 in online cash rewards after you spend at least $5,000 within the first 90 days after opening the account.

Best of all, the card has no annual fee.

I opened LLCs years ago for rental properties and freelance work, and I put every possible business expense on a business credit card. When I looked for cards, I wanted two things above all else: no annual fee and a bonus I could earn with spending I was already doing.

This card fits both goals, and it is the kind of offer I would have been eager to grab back then.

Your first $5,000 in purchases could be worth $575

At the moment, you can earn a $500 cash back bonus after making at least $5,000 in purchases during the first 90 days of account opening.

If you add the 1.5% cash back you would also earn on that $5,000, the total comes to $575.

That works out to roughly 11.5% back on spending your business was likely going to make anyway. And $5,000 can be reached faster than many people expect once regular expenses go on the card. Even one larger inventory or equipment purchase could get you most of the way there.

I saw this with my rental properties. A single repair or appliance replacement could cover a large part of the spending requirement in one swipe. I never had to change my habits to earn a bonus, which is exactly the kind of offer I prefer.

The card also includes a 0% introductory APR on purchases for the first 7 billing cycles. After that period ends, a variable APR of 16.99% to 26.99% currently applies. That can provide some breathing room if you want to make a larger purchase now and pay it off over time.

Why skipping an annual fee matters when business income is uneven

A business card with no annual fee costs nothing to keep open, even during slower years.

My freelance income and spending varied a lot from one year to the next. Some years were busy enough to bring in $60,000 or more, while other years I barely pushed past $5,000. My card spending followed the same pattern, and I never wanted to be stuck paying a yearly fee for a card I might barely use.

With this card, there is no annual cap on cash back, and rewards do not expire as long as the account stays open. That means a slower spending year does not cost you anything.

Redeeming rewards is simple as well. You can receive cash back as a deposit into an eligible Bank of America® checking or savings account, as a statement credit, or as a check by mail.

Bank of America Preferred Rewards for Business can lift cash back to 2.62%

Bank of America Preferred Rewards for Business can boost the card's cash back rate from 1.5% on all purchases to as much as 2.62% on every purchase.

The program is free to join. Its banking, borrowing, and card benefits are a major reason Bank of America received our Editors' Choice: Best Customer Loyalty Program award for 2026.

There is an important catch, though. You need an eligible Bank of America business checking account and a three-month combined average daily balance of at least $20,000.

Here is what each tier could generate on $30,000 in annual business spending:

I keep my own reserves in a high-yield savings account, so I would not move money just to chase a tier. But if your business already holds that much at Bank of America, the boost is close to free money. See all the perks included with each Preferred Rewards for Business tier.

What to consider before applying

This card is best suited for owners who want straightforward, flat-rate rewards without having to track spending categories.

If your business does not qualify for Preferred Rewards, the 1.5% base rate is respectable, though not especially eye-catching. The card also charges foreign transaction fees, so it is not ideal for overseas travel.

If most of your spending falls into one major category, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card may be worth a look. It earns 3% cash back in the category you choose, up to the first $50,000 in combined choice-category and dining purchases each calendar year, then 1% after that. It also earns 2% cash back on dining purchases, up to the first $50,000 in combined choice-category and dining purchases each calendar year, then 1% after that.

For businesses that spend heavily on gas, office supplies, or another concentrated category, that structure could easily outperform a flat rate.

My view

If I were starting my first LLC now, this is the kind of card I would begin with. It offers a strong upfront bonus, costs nothing during lean periods, and becomes more rewarding as balances grow. That is a useful combination for any owner who is still figuring out what the future holds.

If you want to compare options before applying, it is worth reviewing the full lineup. Compare the best small business credit cards in 2026 and find the one that fits your needs.