A credit card is a very important tool for any business. A small business benefits greatly from having a business based credit card since they do not typically have that much cash on hand. If there is an unexpected purchase that needs to be made or an important piece of equipment breaks a credit card is the best way for the business owner to cover the costs without putting other aspects of the business, like employee payroll, in jeopardy. This is where a card like the Fifth Third Bancorp Business MasterCard Credit Card can come in handy.
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Running a business can be very difficult and every little decision can mean the success or failure of the venture. The business owner can see what other consumer have to say about certain cards at a consumer ratings website like JD Power and Associates.
Rates and Fees of the Fifth Third Bancorp Business MasterCard Credit Card
Like all other Fifth Third Bancorp credit cards, the cardholder will not have to pay an annual percentage rate of purchases or balance transfers for the first year with this card. The permanent interest rate for this business credit card depends on the cardholder’s credit score. The higher someone’s score the lower their interest rate will be. The lowest rate available with this card is 12.99%, which is a very good rate.
There are not as many fees with Fifth Third credit cards as there are with most providers. There is no annual fee or a fee for going over the card’s credit limit or having a payment returned. A late payment credit card fee of $35 will be charged is the cardholder makes a late payment. There is only a 4% fee for cash advances and balance transfers.
How the Fifth Third Bancorp Business MasterCard Can Help
One of the best uses for a business credit card is to help track business expenses. By using one payment method, the business owner can get a better idea where the company’s money is going and if there are any changes that need to be made.
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