If you’re looking for a business credit card that is directly associated with your personal credit, then you might want to consider the Firstmark Credit Union Business Visa Platinum credit card. This credit card isn’t for everyone, as large businesses won’t want their personal information tied in with their credit cards.
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Another reason that this credit card will work for a small business is that the buying power is limited. The credit limits range from $2,000-$50,000. You may think that $50,000 is a lot of money, but if you’re a business that spends that much on a single order then this is the kind of buying power you need.
Firstmark Credit Union Business Visa Platinum Credit Card Overview
This credit card is a rewards credit card that allows you to earn one point for every $2 you spend using your card. There is no way to earn rewards points faster using this credit card.
In order to qualify for this credit card, your business has to be a Firstmark Credit Union member. In become a member of this credit union, you need to live in or near Bexar County, Texas; or you must have your business in Bexar County, or one of the surrounding counties.
Firstmark Credit Union Business Visa Platinum Credit Card Terms
As mentioned above, as the business owner, you’ll have to be personally responsible for the credit you receive from FCU. What this means is if your business fails, you’ll still be personally responsible for the debt. If your business struggles to pay the debt, and you personally cannot pay the bill, both your personal and business credit will be affected.
The terms for this card include:
- 3.99% introductory APR for purchases
- 8% variable APR after introductory APR expires based on the prime rate
- 18% fixed APR for balance transfers, cash advances, and as a penalty APR
- $35 annual fee
- No balance transfer fee
- 2% cash advance fee
- $15 over the limit fee
- 1% foreign transaction fee
All of the fees associated with this card comply with the Federal Reserve Credit Card Rules.
Firstmark Credit Union Business Visa Platinum Credit Card Verdict
The FCU Business Visa Platinum credit card doesn’t offer the best terms. There are many credit unions that offer credit cards for business with the same low APR but with better terms than this card. You should consider other credit cards first.
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