Many of the credit card offers that appear on this site are from credit card issuers from which MillionMileSecrets.com receives compensation. Compensation does not impact the placement of cards on Million Mile Secrets other than in banner advertising. MillionMileSecrets.com does not include all credit card offers that might be available to consumers in the marketplace.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

Is the Bank of America Platinum Business Worth It? The $300 Bonus Is an Easy Win With No Annual Fee

Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.

Is the Bank of America Platinum Business Worth It? The $300 Bonus Is an Easy Win With No Annual Fee

Devon O'RourkeIs the Bank of America Platinum Business Worth It? The $300 Bonus Is an Easy Win With No Annual FeeMillion Mile Secrets Team

Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.

Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.

INSIDER SECRET: This card is worth considering for small business owners who want a keeper card without an annual fee. It will not affect your “Chase 5/24” status.

With the Bank of America® Platinum Visa® Business credit card, you’ll earn a $300 statement credit after you spend $3,000 in purchases within the first 90 days of account opening.

The card has no annual fee, and it comes with valuable protections and security. However, it doesn’t offer rewards for ongoing spend, which is a major downside.

So is the Bank of America Platinum Business worth it?

Is the Bank of America Platinum Business card worth It? (Photo by Tero Vesalainen/Shutterstock)

Here’s what you need to know.

Is the Bank of America Platinum Visa Business credit card Worth It?

Apply Here: Bank of America Platinum Visa Business credit card

Read our review of the Bank of America Platinum Business

The Bank of America Platinum Business credit card is a pretty vanilla card that comes with a $300 statement credit after spending $3,000 in purchases on the card within the first 90 days of account opening.

The card also comes with:

  • Additional employee cards at no extra cost
  • No annual fee
  • Top of the line security and basic travel insurance

Upgrade Your Business

A key benefit of the Bank of America Platinum Business card is the unlimited employee cards at no additional cost. Some business credit cards charge $25-$100 for each additional authorized user. You’ll also get automatic bill payment options for folks that don’t like to worry about remembering to pay the monthly bills.

Is the Bank of America Business Platinum Card Worth It?
Employee cards are free and unlimited, so you can get your whole team cards! (Photo by Bjoern Wylezich/Shutterstock)

You’ll also get standard Bank of America security and protection features with each card, including chip protection, cash flow management tools and overdraft protection. The latter is pretty interesting. You can link your credit card to your Bank of America checking account and it will prevent you from making purchases that can’t be covered with the money in your checking account, similar to a debit card.

Bank of America small business cards have historically not counted against your Chase “5/24 rule” status. So opening the Bank of America Platinum Business card should not adversely impact your chances of being approved for valuable Chase cards later!

Is the Bank of America Business Platinum Card Worth It?
The card comes with insurance, protection and security features that are great for a no-annual fee card. (Photo by Shutter_M/Shutterstock)

And remember, you don’t need a million-dollar corporation to qualify for a small business card. If you have a for-profit venture, like babysitting, coaching, freelance writing or selling items on eBay, you have a small business.

What About Other Business Cards?

Read our guide to the best business credit cards

There are many business credit cards out there, including cards that earn top-notch welcome bonuses and cards that a business should absolutely carry. Here are our two alternative picks to the Bank of America Platinum Business:

Best Business Credit Card Overall

Apply Here: Ink Business Preferred Credit Card

Read our review of the Chase Ink Business Preferred

With the Chase Ink Business Preferred, you’ll earn 80,000 Chase Ultimate Rewards points (worth $1,000 in travel) after you spend $5,000 on purchases in the first three months from account opening.  This is a fantastic welcome bonus and a big reason why the Chase Ink Business Preferred is our #1 pick.

Best Business Credit Card for Southwest Points

Apply Here: Southwest Rapid Rewards Performance Business Credit Card

Read our Southwest Performance Business Credit Card Review

The new Southwest Rapid Rewards Performance Business Credit Card comes with 70,000 Southwest Rapid Rewards points after you spend $5,000 on purchases in the first three months of account opening. Because Southwest points are worth about 1.5 cents each toward flights, this bonus is worth around $1,050 in Southwest airfare, and potentially almost double if you have the Southwest Companion Pass.

Bottom Line

Is the Bank of America Platinum Business worth it? For a no-annual fee card with a respectable cash-back welcome bonus, you could do much worse.

To be in the know with all things travel and credit cards, sign up for the Million Mile Secrets newsletter.

Updated on 10/1/19

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry that something went wrong, repeat again!