Business Credit Card FAQs

A small business card account has both a corporate account number (a number that’s used to identify the company’s relationship with us) and individual credit card account numbers (which are associated with that specific corporate account). Even if the account has just one cardholder, there will still be a corporate account number and an individual credit card account number.

The following chart illustrates some of the ways in which the corporate account differs from the individual credit card:

Each month, the previous month’s unpaid corporate account balance plus all new individual credit card account balances are combined and reflected as the New Balance Total on the corporate account. After the balances are combined, each individual card account balance will be reset to $0.

Corporate account numbers should be used to make payments and should be referenced in the event you need to contact us with any questions about the account or any credit cards associated with the account.

To see the most up-to-date account balance information, log in to Online Banking and select the corporate account number.

Small Business Credit Card products have both a corporate billing account number (CORP Account) and one or more individual card numbers. The CORP Account is only used for billing purposes - for example, viewing balances and making payments. The CORP Account cannot be used to make any credit card transactions.

• The balance on the CORP Account reflects the total current outstanding balance for all activity that has posted to all individual credit cards associated with the CORP Account.
• The balance on each individual credit card reflects only the transaction activity on that credit card during the current billing cycle.
• The balance on each individual credit card is reset to zero at the start of each new billing cycle as these balances are always part of the CORP Account for billing and payment. This enables the owner to manage spend for employee cards during each billing cycle.

Always refer to the CORP Account for the total current outstanding balance for all individual credit cards associated with the CORP Account.

In order to see the total outstanding balance on the CORP Account, log in to Online Banking and click the Accounts tab. The total amount shown on "CORP Account" reflects the total outstanding balance for ALL of your employee card(s) as of the previous billing cycle(s). The respective balance below the "CORP Account" reflects the purchases made and activity to date since the last billing cycle specifically for each of the employee credit card(s).

To make a one-time payment or to set up automatic recurring payments, log in to Online Banking and select the Bill Pay tab, then select Go to Bill Pay and follow the instructions provided.

To mail your payment, please send a check or money order made payable to Bank of America to the following address:

Bank of America Business Credit Card
PO BOX 15796
WILMINGTON, DE 19886-5796

You can also transfer money from your Bank of America checking or saving account to your Bank of America credit card. To do this, select the Transfer | Send tab, then select Between My Accounts At Bank of America and follow the instructions provided in the Make a Transfer tab.

If you’re faced with financial difficulties, we can work together to come up with a solution. Contact us to explore your options by logging in to Online Banking or calling Customer Service at 888.306.4949.

Interest charges are calculated differently based on the type of transaction:

Purchases
Purchases made during the billing cycle are usually within what is known as the grace period. Those charges will not accrue interest until the billing cycle’s due date. After that, any remaining balance will accrue interest each day.

For example, a purchase is made at the beginning of the month. The credit card due date is the last day of the month. Prior to the due date, no interest is charged on the purchase. If the purchase is not paid in full by the due date, interest will begin accruing on the balance remaining the first day after that.

Charge cards do not accrue interest for purchases because these cards require you to pay in full each month.

Cash advances, balance transfers, and other transactions
Cash advances, balance transfers, and other transactions do not have a grace period which means interest charges begin accruing immediately.

Some small business credit cards apply a foreign transaction fee to purchases made abroad. Typically the charge is a small percentage of your total transaction.

If you frequently travel to or purchase goods from foreign countries, consider our Business Advantage Travel Rewards World Mastercard^® credit card that waives the international transaction fee while still allowing you to earn rewards.

If you don’t normally make purchases outside of the U.S., a foreign transaction fee could indicate suspicious activity on your business card account. For transaction details or concerns, log in to Online Banking or call the number on the back of your card.

A balance transfer fee occurs when you move a balance from a non-Bank of America small business credit card to a Bank of America small business credit card. The balance transfer fee is a one-time charge.

After the transfer is complete, interest may accrue on the balance. Please refer to the terms & conditions or your Business Card Agreement for additional details.

A late fee is charged if the minimum payment due on a credit card account is not received by the payment due date.

Use Online Banking and the free Bill Pay tool to avoid late fees by setting up a recurring monthly payment for your business credit card account. You can also change your due date to a time that better suits your cash flow by calling the number on the back of your card. Please allow 1-2 months for a change in due date to take effect.

If you’re eligible, you can request to have a non-Bank of America business credit card balance transferred to your Bank of America business credit card by signing in to Online Banking, going to the Information & Services tab and selecting Request Balance Transfer under Services. If you are unable to complete a balance transfer via Online Banking, you may also call 800.892.3219.

The total value of transfer requests cannot exceed your credit line. Balance transfers may not be used to pay off or pay down another Bank of America account.

Yes, there are typically fees for balance transfers and cash advances. For specific pricing, please consult the terms and conditions of the card.

You can access cash by using your credit card and PIN at ATMs in most countries. You can also request cash advance checks from us, which can be used just like personal checks. Or you can get cash with your credit card and photo ID at most banks displaying the Mastercard^® or Visa^® logo.

For your security, you can only withdraw up to $400 of your available account balance per day from an ATM. If you need to withdraw more than $400, you can get a cash advance from participating banks with your credit card and a valid picture ID. Cash advance fees will apply. For specific pricing, please consult the terms and conditions of the card.

Online Banking is a service that provides you a safe and convenient way to bank. With Online Banking, you can access your accounts, view your balances, get detailed transaction reports, and download account data into Quicken or QuickBooks. You can also send payments for bills, taxes, and other expenses electronically. Learn more about Online Banking

Looking for account access on-the-go? Try our award-winning mobile banking app. Check your balance, review transactions, and pay your bill directly from your mobile device. Learn more about Mobile Banking

You can change your Bank of America account address by signing in to Online Banking, selecting Profile & Settings and then selecting Your Contact Info. If you have an airline card, please let the airline know so they can update the contact information associated with your mileage program.

Existing clients can request additional cardholders by signing in to Online Banking, going to the Information & Services tab for the account and selecting Add authorized user under Services.

Upgrade to the Account Management service to get advanced features that let you delegate account viewing and management to trusted employees, partners and accountants, while maintaining secure control as the account owner. You can also view accounts from different financial institutions on a single page, making your cash flow management easier.

If your card is lost, stolen, or misplaced, contact us immediately:

Within the continental United States, call us at 800.892.3219
From outside the United States, call us at 302.457.3281

Our representatives are available 24/7. We'll cancel your card and issue a replacement immediately.

You won't be liable for any unauthorized purchases or withdrawals from your account when you notify us promptly.

A chip card is a standard-size plastic credit or charge card with both an embedded chip and a traditional magnetic stripe. If your card is lost or stolen, the embedded microchip makes the card extremely difficult to counterfeit or copy. You'll enjoy greater acceptance in more than 130 countries around the world including Canada, Mexico, and the United Kingdom, where chip cards are standard.

Put your chip card face-up in the chip-enabled merchant terminal and sign your name. When traveling internationally, on rare occasions you may be asked to provide a PIN. Should this occur, just enter the credit card PIN assigned to your card. When chip-enabled merchant terminals are not available, the magnetic stripe on the back of the plastic can be swiped instead.

You have a Chip and Signature credit card, so in most instances you should not need a PIN to make purchases with your credit card. The term "PIN" or "Signature" simply refers to how you will authorize the transaction – by entering a PIN or by providing your signature. When using your Bank of America chip credit card, you'll be prompted for a signature to complete the transaction. On rare occasions, you may be asked to provide a PIN. Should this occur, just enter the credit card PIN assigned to your card. If you do not know your PIN or need to establish a PIN, log into Online Banking to create your PIN through the Manage Card Settings page (the Manage Card Settings page can be found by hovering over the Accounts tab).

The enhanced security against counterfeiting is contained within the chip itself. The chip makes the transaction more secure by encrypting information when completing a transaction at a chip-enabled terminal. As a result, both Chip & PIN and Chip & Signature transactions offer enhanced security against counterfeiting.

Yes, at unattended terminals you will be prompted for a PIN. When traveling outside the U.S., some card readers at unattended terminals (such as public transportation kiosks and gas pumps) will require a PIN. In these situations, enter the credit card PIN assigned to your card. Some international self-service terminals do not accept U.S. issued credit cards and may display a message such as "Transaction Canceled". This is known to happen on French Toll Roads or Automated Fuel Dispensers, depending on location. In these cases, please locate an attended terminal to complete your transaction, or plan for an alternative payment method, such as local currency.

Your chip card technology for your small business card is chip and signature only and will require you to sign for a majority of your purchases. There may be situations in which a PIN is required. To create or change your PIN, log into Online Banking (the Manage Card Settings page can be found by hovering over the Accounts tab) or call the number on the back of your card to have your PIN mailed to you. Allow 7-10 days to receive your PIN in the mail. Your PIN number for your credit card can be used for ATM cash transactions and for transactions completed at an unattended terminal.

Yes, if you are at an unattended terminal and are prompted for a PIN, you may utilize the same PIN that you use for ATM transactions. If you do not have cash access you may obtain a PIN and use your PIN for purchases made at unattended terminals.

There are no additional fees associated with chip credit cards.

Before you submit a dispute, a quick call to the merchant can often answer your question and resolve the issue. The merchant's phone number may be located in the transaction detail in Online Banking or on your billing statement. If the merchant is able to resolve the matter, you will normally see your account credited for the charge within 30 days.

If you're unable to solve the issue by contacting the merchant, call us at 866.601.4414. Please have the following available:

• Your statement where the disputed charge appears
• Your receipt from the merchant and any other relevant information relating to the purchase

Please review the back of your statement for additional information on disputing transactions.

Online security is our top priority. Our Online Banking and Mobile Banking services incorporate industry-leading safety features that give you greater security and peace of mind as you manage your money.

Taking just a few easy precautions can help protect your financial and personal information. Learn all about detecting fraud and preventing fraud from our fraud experts.