Bank of America business credit card requirements
- Who should consider a Bank of America business credit card?
- Business structures that may apply
- What Bank of America requests in a business card application
- Documents you may be asked to provide
- Bank of America business card options
- How to prepare before applying
- Why businesses choose Ramp over traditional business credit cards
Bank of America business credit cards are designed for eligible U.S. businesses, including sole proprietors. The bank considers the information in your application, such as details about your business and the people authorized to borrow on its behalf. Before applying, compare the current card terms and prepare the information Bank of America requests.
Bank of America does not publish a universal minimum personal credit score, minimum revenue amount, or approval formula for its business credit cards. Approval decisions and card terms can vary.
Note: The cashback percentages, limits, fees, and other figures mentioned in this article are for illustrative purposes only. They do not represent guaranteed or expected rates. Actual terms, credit limits, rewards, and approval criteria vary by card issuer and may change at any time. Readers should verify current details directly with each issuer before applying.
Card offers, rewards, APRs, fees, credit limits, and eligibility terms can change. Verify current details directly with Bank of America before applying.
Who should consider a Bank of America business credit card?
A Bank of America business credit card may be worth considering if your business wants to separate business and personal purchases, provide cards to employees, or earn rewards on eligible spending. Consider the card's current fees, rewards, payment terms, and available controls alongside your business's cash flow needs.
A Bank of America business card may suit businesses that:
- Need a dedicated card for business purchases and expense tracking
- Want to issue cards to employees, subject to the card program's available controls
- Want to compare cash back, travel reward, or lower interest rate card options
- Have a U.S. business and an owner or authorized officer who can apply on the business's behalf
- Are sole proprietors, LLCs, corporations, or another eligible business type
Bank of America says applicants must be U.S. residents or resident aliens with a U.S. address. The applicant must be the business owner or an authorized officer who can borrow on behalf of the business.
Consider a corporate card for spend controls
Businesses that need centralized controls, employee card limits, and expense management workflows may also want to compare corporate card options. Ramp offers cards and spend management tools for eligible businesses. Review current eligibility, program terms, and available features before choosing a provider.
Business structures that may apply
Bank of America accepts applications from a range of business structures. Its application materials ask for the legal business name and structure, business tax ID, formation details, and other business information. The information required can vary by applicant.
Sole proprietors
Sole proprietors can apply for a business credit card. Bank of America states that a sole proprietor can use a Social Security number as the business tax ID. If the business has an EIN, include it where the application requests it.
Using a business credit card can help separate business purchases from personal purchases, which may make bookkeeping and tax preparation easier. Keep records that support the business purpose of each expense.
LLCs and corporations
LLCs and corporations can apply for business credit cards using their legal business information. Before applying, make sure the legal name, tax ID, formation details, and owner or controlling individual information are consistent with your business records.
When comparing card options, evaluate the current rewards structure, fees, payment terms, employee card features, and reporting tools. A business's revenue and financial profile may affect the credit decision and any credit limit offered, but Bank of America does not publish a universal approval formula.
Freelancers and side businesses
Freelancers and people with side businesses may be able to apply as sole proprietors. If you earn business income from services, sales, or another independent activity, provide accurate business and personal information in the application.
Bank of America may request additional information or documents while reviewing an application. Keep records such as your business tax information, income information, and formation records available if requested.
What Bank of America requests in a business card application
Bank of America's application guidance lists information about the business, beneficial owners or controlling individuals, and cardholders. The bank may request additional financial information or other documents before completing its review.
Business information
Have the following business details available:
- Business tax ID, or a Social Security number for a sole proprietorship
- Legal business name and structure
- Date the business was formed
- Country and state of legal formation, plus the state where the business primarily operates
- Gross annual sales and net profit
Owner and controlling individual information
Bank of America asks for identifying information about beneficial owners and controlling individuals. Depending on the person and the application, this can include name, title, address, date of birth, tax or passport identification, citizenship and residence information, and ownership percentage.
Do not assume that information is required only for owners meeting a single ownership threshold. Bank of America's application guidance says controlling individual information is required even if no equity owner reaches 25% ownership.
Personal information and credit authorization
Bank of America asks for personal information for cardholders, including identifying and contact information. The application authorizes Bank of America to obtain a credit report or other information to verify the application.
The bank states that its business credit cards are backed by personal credit. It also says the accounts are not included on a personal credit report while the account remains in good standing. Review the current agreement for the terms that apply to your account.
Documents you may be asked to provide
Bank of America does not publish one universal document checklist for every application. It says it may request additional financial information or other documents during review.
Depending on your business and application, be prepared to provide documents that verify information you submit, such as:
- Government-issued identification
- Business formation or registration documents, if applicable
- Tax identification information
- Financial or income information if the bank requests it
Do not treat a particular document, revenue level, number of years in business, or bank balance amount as a guaranteed approval requirement unless Bank of America states it in the current application materials.
Bank of America business card options
Bank of America currently promotes business cards in categories including cash rewards, travel rewards, lower interest rate cards, and cards intended to help build or strengthen credit. Its business-card lineup and offers can change.
Examples of cards featured on Bank of America's business credit card page include:
| Card type | What to compare |
|---|---|
| Business Advantage Unlimited Cash Rewards Mastercard® credit card | Cash-back rate, annual fee, welcome offer, APR, and eligibility terms |
| Business Advantage Customized Cash Rewards Mastercard® credit card | Eligible reward categories, reward caps, annual fee, welcome offer, APR, and eligibility terms |
| Business Advantage Travel Rewards World Mastercard® credit card | Point-earning structure, travel benefits, foreign-transaction terms, annual fee, welcome offer, APR, and eligibility terms |
Bank of America does not publish minimum personal credit score floors for these cards. It also does not publish a universal revenue or time in business requirement by card. Avoid treating an estimated score range or an anecdotal approval pattern as a requirement.
For the current bonus, APR, annual fee, and rewards disclosures, consult Bank of America's business credit card page and the terms shown with the card application.
How to prepare before applying
Preparing accurate information can make it easier to complete a business card application. It cannot guarantee approval.
- Review your credit reports: Check for errors and understand the information a lender may review. Dispute inaccurate information through the appropriate credit bureau.
- Keep business records current: Use the correct legal name, tax ID, business structure, and formation details consistently across records.
- Separate business and personal finances: A dedicated business account and clear records can simplify bookkeeping and help you provide accurate application information.
- Compare the full card terms: Review annual fees, APRs, rewards, reward caps, foreign transaction fees, and any introductory offer conditions.
- Apply only when the card fits your needs: Multiple applications can affect your credit profile. Choose a card based on your planned spending and repayment strategy.
- Review who can apply: The applicant should be the owner or an authorized officer with authority to borrow for the business.
Bank of America may provide an immediate result for some applications, but review time can vary. Do not rely on a specific decision timeline or assume that opening a deposit account, maintaining a particular balance, or making a specified level of deposits will improve approval odds unless Bank of America confirms it in writing.
Why businesses choose Ramp over traditional business credit cards
As Poshmark expanded its global presence, managing expenses across multiple entities became increasingly complex. The finance team grappled with manual processes that were time-consuming and prone to errors.
The company relied on Google Sheets for expense reporting, which required employees to manually fill out forms that the accounting team then processed. This system was not only inefficient but also consumed significant resources.
"Every month, we had 50–100 expense reports that had to be manually processed and input into payroll," explains Assistant Controller Carolynn Yipp. "That took up to half of one full-time employee's workload."
With Ramp, Poshmark consolidated its expense management process. It automated reporting, synced spend data across departments, and cut time spent on manual tasks. The team replaced spreadsheets and disconnected card systems with a centralized platform that gave them real-time visibility and control.
"We use Ramp as our single source of truth," says Assistant Controller Carolynn Yipp. "Now, employees know exactly what they're spending, and finance knows exactly what's been spent. It's made reconciliation so much easier."
Ramp also helped Poshmark get strategic. The platform's automated reporting and insights allowed the team to reduce their month-end close time by 50% and hit their free cash flow goals 5 months ahead of schedule. Custom controls and approval flows gave every department the flexibility to move fast, without compromising accountability.
Try an interactive demo to see how Ramp can simplify your company's spending.
FAQs
Bank of America does not publish a universal minimum personal credit score for its business credit cards. Your personal and business financial information, the card you apply for, and other application details can affect the decision.
Bank of America does not publish approval rankings or minimum-score thresholds for its business cards. Compare current card terms and apply for a card that fits your business needs and financial profile.
Bank of America asks for business tax identification information and personal information for owners or controlling individuals. Sole proprietors may use a Social Security number as their business tax ID. An EIN does not replace the personal information required in an application.
Bank of America states that a business-card application authorizes the bank to obtain a credit report or other information to verify the application. Review the current application terms before applying.
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