If you’re looking for one of the best business credit cards with rewards then one card you will want to consider, if you’re a member of the IH Mississippi Valley Credit Union, is their Business Visa credit card. You’ll find that it offers several benefits that may appeal to you.
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Before you can apply for the Business Visa credit card, you have to be a member of the IH Mississippi Valley Credit Union. To do this, you have to meet the living/work criteria for certain counties in Illinois and Iowa. In addition, you have to open an account with the credit union, which you can do with as little as $5.
IH Mississippi Valley Credit Union Business Visa Credit Card Overview
The first thing that you’ll want to know is that this card is really meant for small businesses that can use the owner as a credit card guarantor. The credit limits will range between $2,500 and $30,000, depending on your business’s credit history.
This is also a rewards card; however, the rewards program isn’t very good. You have to spend $4 in order to receive one bonus point, which means it can take a very long time to earn enough points with which to do anything.
One nice thing about the points is that they can be used to pay off certain debts to the IH Mississippi Valley Credit Union. For example, if you have an auto loan through the credit union, you can apply points to your balance. In addition, points can be used to open a CD, which is an unusual benefit as well.
One downside is that there doesn’t seem to be any way to restrict the credit limit of credit cards for your employees. This means that they have full access to your credit if you allow them to use one of your cards.
IH Mississippi Valley Credit Union Business Visa Credit Card Terms
Most of the terms of this card are undisclosed, requiring you to call the credit union to find more information. However, one piece of information that they do share is that the APR is 4% plus the prime rate, which is currently 3.25%. This makes the interest rate 7.25%. In addition, there is no annual fee for this card.
IH Mississippi Valley Credit Union Business Visa Credit Card Verdict
The interest rate for this card is a great one, although with the other terms, it’s difficult to say whether or not it’s the right small business credit card offer for your business.
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