The Bank of America® Platinum Plus® Mastercard® Business card is a no-frills, no-nonsense credit card for small-business owners. It’s certainly far from the best business credit card you’ll see; even if you’re not willing to pay an annual fee, you can do better. But if you’re looking for no annual fee and a modest sign-up bonus, the Bank of America® Platinum Plus® Mastercard® Business card may fit your needs.

Here are some of the better-known and lesser-known benefits of this card.

The well-known reason

Welcome bonus: The Bank of America® Platinum Plus® Mastercard® Business card is currently offering a modest welcome bonus: Get a $300 online statement credit after you make at least $3,000 in net purchases in the first 90 days of your account opening. It’s not the highest you’ll find on small-business credit cards, but it’s a tidy sum of money that you wouldn’t have otherwise.

Underrated reasons

No penalty APRs

If you find yourself in a situation where you can’t make your minimum payment, some credit card issuers will slap an even bigger penalty rate on your account. Some issuers also charge penalty APRs for situations like exceeding your credit limit or making a payment that doesn’t go through.

The good news: If this happens to you with your Bank of America® Platinum Plus® Mastercard® Business card, you won’t need to worry about your APR increasing, because there are no penalty APRs.

But keep in mind you can’t continue to miss payments — you’ll still owe interest on any outstanding balance, as well as applicable late or returned payment fees.

Access to Bank of America’s cash flow management tools

Managing small-business cash flow can be tough. Bank of America® makes it a bit more straightforward with its suite of cash flow management tools, including the ability to make automatic payments, integration with QuickBooks Online (which allows you to track and sort expenses ahead of tax season) and features that show cash flow projections.

Chip technology

Increasingly, more credit cards come with chip technology, and the Bank of America® Platinum Plus® Mastercard® Business card is no exception. Chip technology is designed to make credit card transactions more secure by preventing thieves from stealing your information — aka "skimming" — when you swipe the magnetic strip on the back of the card, and it's now the security standard in the U.S.

The bottom line

The Bank of America® Platinum Plus® Mastercard® Business card isn't the most exciting credit card. But despite the lack of eye-popping perks, it’s a straightforward, no-annual-fee credit card that might be right for you.

We call it a bare-bones credit card in our review, but bare-bones isn't bad. For small-business owners who want to keep their credit card life simple (because owning a business can be complicated enough), the Bank of America® Platinum Plus® Mastercard® Business card delivers.

If you’re looking for something a bit more eye-catching, consider some other small business credit cards. The American Express Blue Business Cash™ Card offers rewards (2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%) without an annual fee. Terms apply. The Blue Business® Plus Credit Card from American Express offers a long introductory APR on purchases, plus you’ll earn points for your spending.

To view rates and fees of The American Express Blue Business Cash™ Card, see this page.

To view rates and fees of The Blue Business® Plus Credit Card from American Express, see this page.