Which credit card earns more cashback overall?

Based on identical spending inputs, you’ll earn cashback per year with American Express Plum Card and $464.40 with Bank of America Business Advantage Unlimited Cash Rewards. For context, the average annual rewards payout from the business rewards credit cards in the investor.com database is $181.73. The annual rewards payout assumes you charge $2,580 each month spread across the following spending categories: Cell Phones ($516), Dining ($516), Gas ($258), Office Supplies ($387), Travel ($387), and Other ($516). The dollar amounts for each category are based on average small-business spending data (how much business spend proportionally in each category) from the U.S. Bureau of Labor Statistics and other sources. We encourage you to use our business card rewards calculator to customize the amounts based on your business’s actual spending patterns. To ensure the most accurate results possible, the rewards calculations for American Express Plum Card and Bank of America Business Advantage Unlimited Cash Rewards incorporate bonus rewards rates, spending caps, default rewards rates and annual fees, where applicable.

Is the American Express Plum Card good?

Flexibility is the name of the game with the Amex Plum Card, but at what cost? (We can answer that: $250 a year.) While not technically a “rewards card” — or a “credit card” for that matter, since it requires paying off each month’s balance in full — this business card offers 1.5% cash back on balances you pay off early. Forgoing the early bird special buys you extra time (60 days) to settle your tab. Worth it if you need a no-limit charge card when you’re short on cash; less so if you’re all about maximizing rewards. thumb_up Likes Unlimited 1.5% cash back (aka “Early Pay Discount”) on the portion of your balance paid within 10 days of statement closing dateEarly Pay Discount applied automatically to next statement as a creditNo spending categories to track60-day no-interest grace period when minimum payment is paid by the due dateNo foreign transaction feesNo preset spending limit (this is a charge card you must pay off each month) makes it good for high-dollar expensesUp to 99 employee cards availableComes with Amex’s extended warranty/purchase protection, car rental loss/damage insurance, Global Assist Hotline) thumb_down Dislikes 1.5% cashback applies only to amount of balance paid earlyHard to justify the $250 annual fee for businesses aiming to optimize rewards0% cashback on purchases not paid during the “Early Pay Discount” windowHigh “minimum payment” hurdle: 10% of the balance from new card activity, plus the entirety of any previously deferred balanceSteep $15,000 spending requirement in first three months to earn $500 statement creditBalance must be fully paid off within 60 days or ugly fees applySpending limit may vary, based on your credit/payment history and spending behavior Category Default Rate Bonus Rate Bonus Spend Cap Bonus Spend Period (Months) Cell Phone - - - - Dining 1.50% - - - Gas 1.50% - - - Travel 1.50% - - - Office Supplies - - - - Other Purchases 1.50% - - -

American Express Plum Card vs Bank of America Business Advantage Unlimited Cash Rewards 2023

Q: Is the Bank of America Business Advantage Unlimited Cash Rewards good?

A no-annual-fee cashback business card with no spending caps on rewards! Pity about that 1.5% cashback rate, though. thumb_up Likes Simple flat-rate rewards structureNo caps on rewards spendingPotential 25%-75% rewards booster with a BofA biz deposit or Merrill biz investing accounts$300 sign-up bonus0% intro APR on purchases for nine monthsCompatible with QuickBooks$0 annual fee thumb_down Dislikes 1.5% cashback rate across the board is the definition of "meh"3% foreign transaction feeNo intro APR on balance transfers (and a 4% transfer fee to boot)Business management tools are sparse or cost extraRequires deeper banking/investing relationship for better rewards terms Category Default Rate Bonus Rate Bonus Spend Cap Bonus Spend Period (Months) Cell Phone 1.50% - - - Dining 1.50% - - - Gas 1.50% - - - Travel 1.50% - - - Office Supplies 1.50% - - - Other Purchases 1.50% - - -

Written by investor.com

In head-to-head competition, which of these rewards credit cards wins out? Here’s what each has to offer and how they fare when put to the ultimate test — the cash back you’ll earn for using them.

American Express Plum Card
The Plum Card from American Express pays an unlimited 1.5% cash back (Early Pay Discount) on the portion of your balance you pay within 10 days of your statement closing date. The card’s Extra Days to Pay option allows you to defer payment of the remainder of your new balance until the payment due date on your next billing statement without incurring interest, as long as you pay at least the minimum payment due.

Bank of America Business Advantage Unlimited Cash Rewards
Earn unlimited 1.5% cash back on all purchases everywhere, every time. 0% introductory APR on purchases for the first 9 billing cycles. Sign-up special: Get a $300 statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.

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