Card Comparison: Business Credit Cards – November 2008
In this post, I compare business credit cards which represent a fast growing segment in credit card industry, the reason for fast growth is its popularity. As I pointed out in the q&a, individuals without a business are eligible to apply for a business credit cards, so you don’t need to worry about your eligibility, it’s ok for you to consider them the same as consumer credit cards. The way I compare business credit cards is to break all cards down to major categories of benefits:
Point Rewards Cards
| Card Name | Requirements | Benefits | |
 |
Advanta Why Wait Business World MasterCard |
requires Excellent/Good Credit, Regular APR: 16.99%, Annual Fee: None | Reward: 1 – 1.5 Point/$, Sign-on Bonus: up to 200,000 WhyWaitSM Rewards Points |
Important Disclaimer: the credit cards information in this post were accurate as of the date of publishing, some or all of the card programs may be discontinued, their terms may be changed after wards.
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Comments
Advanta has a _terrible_ reputation. If you are late just once in a year, even with a good credit score, they can and have increased rates on people to 25% _plus_ prime rate. In some cases I have read, they charge over 32% interest! See the comments on CNN at http://askfsb.blogs.fsb.cnn.com/2008/12/17/credit-cards-gone-wild/
Get your money from a loanshark? With Advanta, the answer is ‘yes’.
Jerry, according to even current rule, credit card companies should give 15 day notice before they can raise rates. If you haven’t received a notice before you get that rate hike, you have the right to dispute that treatment through some authority. In the new rule, Advanta should give 45 day notice before the rate hike, check out:
http://www.myawesomecard.com/blog/2009/01/19/credit-card-qa-what-does-new-credit-card-rules-mean-to-you/
[...] business credit cards offer fabulous deals. Some of those deals are much better than those of consumer credit cards. For example, American [...]