Bank of America

Bank of America issues several small-business Mastercard cards. We compare the Business Advantage Unlimited Cash Rewards credit card and its secured version, both issued by Bank of America, N.A. Both pay flat cash back with no annual fee, and the base rate rises for businesses enrolled in Preferred Rewards for Business, which is tied to a Bank of America banking relationship.

The unsecured card has an introductory rate on purchases for its opening billing cycles and states that it has no penalty APR, although Bank of America may require some accounts to be paid in full each month. The secured card has no intro rate and no new account bonus: its credit line equals the security deposit you place, and Bank of America says it periodically reviews accounts that may move to an unsecured card.

On both cards the business and the owner are each personally liable for all charges, and the applicant grants a security interest and right of offset over their Bank of America deposit accounts. Applying lets Bank of America exchange reports with credit reporting agencies. Sole proprietors and nonprofits are both named as eligible.