In today’s global economy, having a good credit card for your small business means a lot. A business owner never knows when an unexpected expense is just around the corner and having the right credit card can mean the difference between that problem being just a bump in the road or a major roadblock. The UMB Visa® Business Rewards credit card might just be that good small business card.
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Running a business is a very difficult undertaking. Because they’re dealing with customers, employees, and countless everyday tasks, many business owners find it hard to give as much attention to the money side of things as they should. If someone does find themselves in an unfortunate debt situation when it comes to their business, they can often use sources that help with personal debt and apply it to their business needs. The My Money website has excellent debt and credit management information.
UMB Visa® Business Rewards Card Perks
This business credit card is also a rewards credit card. Business owners can earn points for each dollar they spend and then exchange these points for special rewards. The most common rewards redeemed by businesses are travel rewards, since they can be directly applied to the business and save a lot of money in the end.
UMB Visa® Business Rewards Card Fees
UMB has a very unusual approach to fees when it comes to their credit cards. Most credit card providers charge a very specific fee for certain infractions, such as making a late credit card payment. When it comes to transaction fees, UMB prefers to charge by percentage.
Balance transfers are charged 3% of the transfer amount with a fee minimum of $15 and no maximum fee amount. The fee for cash advances is the same, except that there is a maximum fee amount of $50. UMB also charges an uncommon transaction fee called an overdraft advance fee. The overdraft advance charge is 3% of the total amount of the advance, with a minimum charge of $10 and a maximum charge of $25.
The penalty fees for UMB cards are more typical, but still on the higher range.
Late and returned payments are both charged a $35 fee. There is no penalty for going over the card’s credit limit.
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