The Platinum Plus Mastercard Business Credit Card from Bank of America has an introductory offer of: $300 statement credit once you’ve made a minimum of $3,000 in net expenses in the first 90 days of opening your account. This is a great offer for a card that has no annual fees attached. Compare this card to other business card bonuses.
Even though their perks and benefits are a great welcome bonus, the card in itself doesn’t have much to offer for ongoing rewards. You can receive basic cash flow management utensils and Mastercard perks. But, there aren’t any value-added benefits.
Platinum Plus Business Card Quick Facts
| Bonus Available | Receive $300 statement credit after you make a minimum of $3,000 in expenses in the first 90 days of having your account open. |
| Bonus Value | $300 |
| Ongoing Rewards/Benefits | No ongoing rewards |
| Employee Cards | Unlimited at no additional cost |
| Foreign Transaction Fees? | 3% |
| Annual Fee | $0 |
Recommended Free Credit Score (Get Free Score)
690 – 850 (Good – Excellent)
*The Platinum Plus Mastercard is issued by Bank of America. Compare this card to other offers.*
Pros
- Welcome bonus
- No annual fee
- Unlimited employee cards
Cons
- Excellent credit needed to qualify
- No rewards program
- Foreign transaction fees
Editor’s Alternate Pick
 The Ink Business Unlimited® Credit Card offers $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. You'll earn an unlimited 1.5% cash back on every purchase made for your business and you'll receive employee cards at no additional cost. This card carries no annual fee. |
Platinum Plus Business $300 Statement Credit Bonus
Receive a $300 statement credit for a welcome bonus when you charge your card with a minimum of $3,000 in the first 90 days of having your account open.
Here are some ideas on meeting the spending requirements:
Platinum Plus Business Card Top Features
With the Platinum Plus Mastercard Business card, it will let you have the option of having Overdraft Cash Advance. This will be known as the bank’s overdraft protection transfer system. All Bank of America credit cards will give you this option.
Using this, it will help you protect your Bank of America checking account from overdraft fees. If there is a transaction made on your checking account, it will show up as an overdraft. Then cash advance will immediately be taken from your credit line, and the transaction will be finished.
You’ll receive $100 increments for your overdraft cash advances, this will total out to a $200 transfer. All of your overdraft cash advances will accumulate interest as a normal cash advance rate would go. You will need to pay for the transfer prices, it’ll be either $10 or 3%, typically the one that’s bigger.
The Platinum Plus Business card also has cash flow management utensils such as:
- Automatic online payment
- QuickBooks integration
- Transaction categorizing
- Transaction tracking
This Platinum Plus Business gives you a simple lineup of perks and benefits for their traveling clients like:
- Emergency ticket replacement
- Travel accident insurance
- Lost luggage replacement
- Car rental insurance
Platinum Plus Business Card Drawbacks
Other than this welcome bonus offer, the Platinum Plus Mastercard Business credit card won’t give you ongoing rewards for your expenses. It’s a decently large downfall of the credit card, even when you look at other business cards that has no annual fees attached. Like the Ink Business Cash℠ Credit Card.
This Platinum Plus Business card comes with a 3% international transaction fee, which places the card at a huge disadvantage. It wouldn’t be the best choice for your workers that go on business trips quite often to go overseas for their trips.
There is a better substitute such as the Chase Ink Business Preferred℠ Credit Card. They won’t charge you with any foreign transaction fees and it offers a great rewards program for you to earn rewards as you spend.
Bottom Line
With the Platinum Plus Mastercard Business card from Bank of America, it’s a small priced, no-frills credit card option with a good welcome bonus offer. But, there are some disadvantages that comes with the card like having no ongoing rewards and foreign transaction fees. It would be better to put this credit card aside once the welcome introductory offer has been cashed in.
(Visit Bank of America for more information)
What’s the Competition?
There are some of the Bank of America Platinum Plus Mastercard Business credit card’s top competitors listed below.
 The Ink Business Cash® Credit Card offers $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. You'll earn: • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year • 1% cash back on all other card purchases with no limit to the amount you can earn. This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost. |
 The Capital One Spark Cash Select offers $500 Cash Back once you spend $4,500 on purchases within the first 3 months from account opening. You'll earn: • Unlimited 1.5% cash back could mean thousands of dollars each year going back into your business with no categories to limit your purchasing. • Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel This card comes with no annual fee and employee cards at no additional cost. |
 The Ink Business Preferred® Credit Card offers 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase TravelSM. You'll earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year; 1 point per $1 on all other purchases - with no limit to the amount you can earn. Furthermore, points are worth 25% more when you redeem for travel through Chase TravelSM. This card does come with a $95 annual fee but does not have any foreign transaction fees. |
