At one point or another, every business owner has had to make the decision whether or not to get a small business credit card such as the TDECU Business MasterCard for their business needs. By having the right credit card, an owner can provide their business with a financial safety net in the case of an emergency.
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There are many worries for a business owner to deal with and finances are definitely at the top of the list. The poor economy has made small business credit cards with good interest rates hard to come by, but there has been a shift recently as the economy has started to improve. Smart Money, in its article “Welcome Back, Small-Business Credit Cards,” has more information about this shift.
TDECU Business MasterCard Rates
The TDECU Business MasterCard has very low interest rates compared to most other business credit cards. The reason the rates are so low is because this card is being offered through a credit union instead of a bank. The cardholder has an interest rate between 7.99% and 17.99%. This rate is applied to cash advances, balance transfers, and purchases.
The cardholder can take advantage of a six month no-interest period by making any necessary balance transfers or cash advances and paying off the outstanding balance before these periods expire.
Cash advances are more common in a business setting than with a personal credit card, since a business will more likely have to make a large purchase with a supplier that might not have the ability to take a credit card.
The most common form of cash advance is a credit card check, so the company can use one of these and, instead of having the money come out of the company’s checking account, it will be applied to their credit card balance.
TDECU Business MasterCard Fees
There is no fee for cash advances, so that will save the business owner even more money since most cards charge a certain percentage of the check amount. The only transaction fee for this card is a 2% balance transfer fee.
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