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Key takeaways
- The Financial institution of America® Enterprise Benefit Personalized Money Rewards Mastercard® bank card permits cardholders to pick out their prime rewards-earning class, together with choices like workplace provides, fuel stations, journey and extra.
- Cardholders who’re members of the Financial institution of America Most well-liked Rewards program can earn even increased rewards, as much as 75% extra in some instances.
- Nonetheless, the annual spending cap to earn the very best rewards price within the two highest tiers limits how a lot you’ll be able to earn. That coupled with restricted redemption choices make this card not the most effective match for companies with excessive spending or a necessity for extra flexibility.
The identify “Financial institution of America® Enterprise Benefit Personalized Money Rewards Mastercard® bank card*” is sort of the mouthful, however are the rewards well worth the bother? That’s a query solely you’ll be able to reply, however there are some compelling explanation why signing up may very well be effectively value your time.
Like comparable bank cards from Financial institution of America, the Enterprise Benefit Personalized Money Rewards Mastercard lets cardholders select their prime rewards-earning class amongst a number of widespread choices for small companies. There’s no annual charge, and new cardholders get an introductory APR provide for purchases, besides.
For those who’re questioning whether or not the Enterprise Benefit Personalized Money Rewards Mastercard is value it however are nonetheless on the fence, learn on to study every thing it’s best to take into account earlier than making use of.
When is the Financial institution of America Enterprise Benefit Personalized Money value it?
This card shines for companies that need class flexibility, most well-liked rewards perks or an intro APR — however provided that the spending caps be just right for you.
You need excessive money again in a versatile class
If you wish to earn a beneficiant money again price in a enterprise class of your selecting, the Enterprise Benefit Personalized Money Rewards Mastercard needs to be in your radar.
Classes you’ll be able to select to earn 3 p.c again on embody:
- Workplace provide shops
- Fuel stations (together with EV charging stations)
- Journey
- Pc providers
- Telecom and wi-fi providers
- Enterprise consulting providers
Additional, you’ll earn 2 p.c money again on eating purchases (on the primary $50,000 in mixed alternative class/eating purchases per calendar 12 months, then 1 p.c). Word that fuel and EV charging are the default choices for incomes 3 p.c again, so that you’ll start incomes this increased price on thos purchases till you select a distinct class.
This enterprise card can also be effectively value it for anybody whose small enterprise may gain advantage from an introductory APR provide on purchases.
You’re a Financial institution of America Most well-liked Rewards member
Moreover , members of the Financial institution of America Most well-liked Rewards program ought to put this Financial institution of America enterprise bank card close to the highest of their checklist. In spite of everything, they will earn 25 p.c to 75 p.c extra rewards for every greenback they spend, relying on how a lot money they carry on deposit with throughout qualifying Financial institution of America account varieties.
For many who qualify for the three highest tiers of this program (Platinum Honors, Diamond and Diamond Honors), incomes 75 p.c extra rewards interprets into incomes 5.25 p.c on the highest bonus class and as much as 3.5 p.c on eating purchases (on the primary $50,000 spent mixed within the alternative class and on eating annually). Cardholders with the highest membership tiers would additionally earn a limiteless 1.75 p.c money again price on all different purchases.
When is the Financial institution of America Enterprise Benefit Personalized Money not value it?
There are a number of causes this card will not be the most effective match for your corporation wants, together with if your corporation spends a ton on bills yearly.
What you are promoting spends greater than $50,000 yearly in bonus classes
The $50,000 bonus rewards cap on the three p.c and a couple of p.c classes can actually restrict your incomes potential. Additionally, bear in mind that different enterprise bank cards provide bonus rewards of as much as a a lot increased spending restrict annually.
For instance, the Ink Enterprise Most well-liked® Credit score Card from Chase lets cardholders earn 3X factors on the primary $150,000 spent on journey and choose enterprise classes every account anniversary 12 months (then 1X factors).
You need versatile redemption choices
Individually, it’s value noting that rewards earned with the Enterprise Benefit Personalized Money Rewards Mastercard are pretty restricted, that means they can’t be used for lots of the versatile choices different enterprise playing cards provide. In actual fact, money again earned with this card can solely be redeemed for a direct deposit to a Financial institution of America checking or financial savings account, an announcement credit score or a test within the mail.
Do you have to get the Financial institution of America Enterprise Benefit Personalized Money?
On the finish of the day, the Financial institution of America Enterprise Benefit Personalized card can work effectively for small-business house owners who need easy-to-earn (and easy-to-understand) rewards for his or her spending. Those that spend quite a bit in a number of of the cardboard’s alternative classes also needs to take into account this card, significantly if they need the pliability to alter their bonus class every month primarily based on their upcoming bills.
That stated, there are many different enterprise bank cards to contemplate, together with choices with increased caps on bonus class spending and extra selection when it comes time to redeem your rewards. Be sure that to contemplate all of the finest enterprise bank cards earlier than you select one on your small enterprise wants.
The underside line
Is the Financial institution of America Enterprise Personalized Money value it? Solely you’ll be able to resolve if this enterprise card is smart for the way in which your organization spends every month or if a distinct card would possibly higher fit your wants.
Alternatively, you can too join the Enterprise Benefit Personalized card with the purpose of pairing it with one other card that provides extra rewards on common spending. With two enterprise playing cards that earn money again in your pockets, you’ll be able to spend strategically and earn extra rewards on every thing you purchase.
*The details about the Financial institution of America® Enterprise Benefit Personalized Money Rewards Mastercard® bank card has been collected independently by Bankrate. The cardboard particulars haven’t been reviewed or permitted by the issuer.
The Financial institution of America content material on this publish was final up to date on April 13, 2025.
