As a business, finding a business specific credit card with no annual fee can be difficult. However, Grow Financial Federal Credit Union offers just that with their Visa Platinum Credit Card for Business with ScoreCard Rewards.
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One of the downsides to this credit card is that, as the business owner, you are held personally responsible for the use of this credit card. This means that the bank will require your Social Security number and use it to verify your qualifications for this credit card.
GFFCU Visa Platinum Credit Card for Business Overview
As mentioned in the name of this credit card, this is a rewards style credit card. When you use your GFFCU Visa Platinum Credit Card for Business to make purchases, every dollar you spend gets you one reward point. You can then cash your points in for travel rewards or for merchandise purchases.
This credit card is a low interest rate credit card–as such, you’ll need to have a very good credit score in order to qualify. If you need to improve your credit, it’s unlikely that you’ll qualify for this card unless your credit issues are older than five years old.
GFFCU Visa Platinum Credit Card for Business Terms
As mentioned above, as the business owner you’ll be personally responsible for any purchases and payments made on your credit card. This credit card has no annual fee and you can get as many credit cards for your employees as necessary. The one downside is you cannot change the credit limit options for your additional credit cards.
As a business owner, you’ll appreciate the lack of fees associated with this card. In addition to no annual fee, there is no minimum finance charge, ATM fees, cash advance fees, and so on. There is only one APR available for this card, which is 9.9%. This is why it can be more difficult to qualify for this card. The APR for this credit card is variable and based on the Prime Rate.
GFFCU Visa Platinum Credit Card for Business Verdict
For a business owner, the low interest rate offered by this credit card can be very valuable. In addition, the lack of fees makes it an excellent card as well. The only real downside is the association with your personal credit score.
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