As stated by the Small Business Administration, business owners that do not have an official business credit report will have a very hard time being approved for a credit card. Consumers are not able to apply for the First Tennessee Bank National Visa Small Business credit card online, but they can call customer service or go to a bank branch in person.
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First Tennessee Bank is owned by First Horizon National Corporation. Both business and personal banking services are offered by First Tennessee Bank, however, little information on credit card terms have been released to non-cardholders.
First Tennessee Bank Visa Small Business Fees
Business owners that are approved for First Tennessee Bank National Association Visa Small Business credit cards have to pay at least 5% of their total credit card balances each billing period. The standard interest rate on the First Tennessee Bank Visa Small Business card is set at 5.9% APR, but it can be increased or decreased at the discretion of First Tennessee Bank.
First Tennessee Bank Visa Small Business cardholders have no yearly maintenance fees. Billing cycles run approximately 25 days.
First Tennessee Bank Visa Small Business Perks
Although many credit card companies have specific terms that prevent cardholders from being held liable for fraudulent credit card charges made by employees. However, First Tennessee Bank goes a step further by enforcing the Visa liability waiver program, which gives business owners $100,000 worth of liability protection. If employees use their First Tennessee Bank Visa Small Business cards to make unauthorized purchases, business owners have nothing to worry about.
First Tennessee Bank Visa Small Business credit cardholders can still have access to their credit lines in the event that their credit card is lost or stolen. Cash advances can be given to cardholders at any time, and the interest rate is 5.9%. Up to $250,000 in liability and travel insurance is extended to cardholders that need protection when buying travel related services with their business credit cards.
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