Bank of America kicked off its suite of small business charge cards to give small businesses more choice and control over their payment and expense management, including “Business Charge,” “Business Charge with WorldPoints Rewards” and “Business Preferred World MasterCard.” Offering businesses greater control over expenses without finance charges, the cards will be available through Bank of America banking centers and at bankofamerica.com. “Business Charge” is for small business owners who want a straightforward solution for business purchases and vendor payments with no annual fee. It gives cardholders free employee cards to set individual credit limits; zero liability protection for unauthorized transactions; expense management tools and customized spending reports.
Meanwhile, “Business Charge with WorldPoints” provides all the benefits of “Business Charge”, plus the opportunity to earn one WorldPoints reward point for every $1 spent on purchases; to redeem points for cash, gift cards, travel and brand-name merchandise; charges an annual fee of $49, which is waived the first year; and has no blackout restrictions. Lastly, the “Business Preferred Charge” offers the suite’s most robust rewards options and is designed for businesses with higher monthly spending needs. The card issues 10,000 bonus points after first purchase, 10,000 anniversary points each year and no expiration on points; double points on all airline and hotel purchases for the first 12 months; direct access to a Business Preferred service specialist; and the ability to set employee credit lines and limit employee card purchases to specific merchant categories.