The U.S. Bank Business Edge™ Platinum Visa is a non-rewards business credit card with no annual fee, an introductory rate, and a number of beneficial tools that business owners can use to manage their credit card accounts. With free employee cards that can be monitored and money saving opportunities, the card is an easy one for businesses to manage.
The U.S. Bank Business Edge™ Platinum Visa is a credit card made especially for businesses looking for a credit card that is highly competitive and will grant high credit limits to cardholders. For cardholders wishing to have a credit limit that exceeds $25,000, there is the option to apply for this limit over the telephone. There are businesses in need of higher limits and U.S. Bank is aware of this.
This is just one of the ways in which the cardholders are accommodated. Another way is through the zero fraud liability protection, which means that there is no liability on qualifying transactions that may involve fraud.
There is also the fact that cardholders can enroll in Visa SavingsEdge for discounts with brand-name merchants. This does require signup at the URL that is provided when the card is acquired.
In regards to the card cost, there is no annual fee and there is an introductory rate on purchases and balance transfers. Balance transfers are subject to the introductory rate within 30 days of account opening. After that period, balance transfers are performed and charged their usual interest rate.
You are most likely wondering what the card is going to cost your business in the long-term, sans the merchandise savings through Visa SavingsEdge. There is a competitive standard rate that businesses are able to take advantage of. There may be different rates applicable to purchases, balance transfers, and cash advances.
Cardholders are allowed two late payments that are no more than 5 days late a piece or just one that is no more than 30 days late. If a late payment falls into either one of these terms, then there is a penalty APR that is applied. It is also applied when a payment is returned or when the credit limit exceeds its balance twice within 12 months.
The penalty APR is higher than the standard APR for a specific amount of time. However, this card does not impose the penalty APR indefinitely. Instead, cardholders are given the opportunity to make six on-time consecutive payments to restore the standard rate. Cardholders do have the opportunity to avoid paying interest on purchases by paying off the balance by the due date each month. This is another way in which a lot of money can be saved on the card in the way of the interest.
The interest is competitive and the exact rate that is charged is based on the creditworthiness of the business.
The penalty fees are rather basic in that they include a late fee (in addition to the penalty APR), an over the credit limit fee, and a returned payment fee.
There is no annual fee on the card unless the card is inactive for a year. Once the card has been inactive for a year, a small fee is charged to the card on the anniversary date of the last transaction. This fee will be charged each year. To avoid it, only one charge per year is needed.
In regards to the transaction fees, the balance transfer fee is a percentage of the amount of the advance or a minimum dollar amount. Convenience check cash advances, ATM cash advances, and cash equivalent advances follow the same rules. Cardholders may also opt for overdraft protection, which will involve a minimum fee or a percentage of the amount.
What is charged for foreign transactions depends on the currency. If the transaction is carried out in U.S. dollars, then the percentage per transaction will be lower than if it is done in an foreign currency.
There are many benefits to this card. The first is the introductory APR. U.S. Bank reserves the right to change or cancel introductory offers as they see fit. However, their typical introductory offer is on balance transfers and purchases. In order to secure the introductory rate on balance transfers, cardholders need to transfer balances within 30 days of account opening. All balance transfers done afterward will be subject to the balance transfer rate.
The customer service is also unprecedented in that they are available 24/7 and they are domestic so you are not dealing with call centers across the world. You can acquire information about your account so that you can manage it. You can also use the Internet to get the account information that you need. You can check your balance, your available credit, transactions, your statement, and even make a payment.
If in need of additional employee cards, you are able to order them without having to pay extra for them. You can also use the U.S. Bank site Connect that provides business owners with useful tools and information that can benefit their business. There is also access to ScoreBoard, which helps in the tracking of spending. Reports can be generated in a number of different formats and there are multiple reports that can be generated.
Furthermore, cardholders are able to use the card worldwide where Visa is accepted. Cardholders can also protect their U.S. bank accounts through overdraft protection. This is like a cash advance from your card to your bank account so you do not have to worry about any checks bouncing in the business checking account.
Lastly, cardholders have access to account alerts via text message or email when the account statement is available and when there is activity on the account.
The U.S. Bank Business Edge™ Platinum Visa gives businesses the opportunity to own a card that helps control spending, while giving a business the spending power that they need. With the benefits that are offered to businesses and the flexibility, the simple no-rewards card becomes one that rewards the business owner in many ways.