Manage Business Spending With The U.S. Bank Business Edge™ Platinum Visa

The U.S. Bank Business Edge™ Platinum Visa is a business credit card that is designed to extend credit to businesses while giving them the opportunity to monitor spending, receive discounts with name-brand merchants, and take advantage of the reasonable rates and fees that are offered.

The U.S. Bank Business Edge™ Platinum Visa focuses on making business cardholders feel taken care of because they are taken care of. It is all about keeping things simple. There are no rewards that are offered, but cardholders do have the ability to save money on business purchases on name-brand merchandise. In order to take advantage of this, cardholders are able to enroll for free.

With no annual fee, low fees, and an introductory APR on balance transfers and purchases, there is money to be saved when using this card as the business's chosen credit card.

Card Benefits

One of the major card benefits is the ability to keep track of spending through a number of U.S. Bank tools that help you see what employees are spending and what is being spent as a whole. You can generate a number of reports and see them in a number of formats, such as in an Excel spreadsheet or .pdf.

Another benefit is the ability to make business purchases with name-brand merchants and receive a discount. The discount can vary over time, but it is one that is significant enough to help you save money on your purchases. Of course, the card has to be used on those purchases to receive the discount. You also have to enroll in the program in order to take advantage of this feature.

The third benefit is the Zero Fraud Liability Protection. What this means is that cardholders who immediately report fraud do not have to be responsible for the charges.

The fourth benefit is no additional charge for employee cards. You will be able to track the spending of each card so that you know what employees are spending the money on. This also helps you ensure that the employees are spending the credit balance on authorized charges.

The last benefit is the customer service that is provided. Cardholders are able to enjoy 24/7 domestic customer service that takes care of cardholder concerns, such as monitoring the credit balance, the available credit, employee cards, and much more. Anything you need an answer to can be taken care of via telephone customer service. The same applies to online account access, as you can access the account online any time and as long as you like when monitoring the account.

Fees & APR

The APR is competitive, allowing for more money to go toward the balance than toward the cost to have the card. There is no annual fee, making the interest the only card cost. However, there is a fee that is charged to the account if the account is inactive for a year. The fee will be charged on the anniversary date of the last transaction and every year on that date until at least one charge is made on the account.

There is an introductory rate on balance transfers and purchases. This rate does not apply to cash advances. This rate lasts for a specific period of time. However, it can end prematurely if a late payment is made. In addition to the late fee, there is a penalty APR that is assessed to the account if the late payment is made 5 or days late twice. It may also be applied if the late payment is made 30 days late just once.

If the account goes over its limit, then there is a fee for that, as well as a fee for returned payments. A returned payment occurs when an electronic payment or a check payment is returned due to insufficient funds.

There are also transaction fees for certain transactions that you may make on the account. The first is the balance transfer. Balance transfers have a fee that is a percentage of the transaction or a minimum dollar amount. There is an introductory rate on balance transfers, but it only applies to transfers that are completed within 30 days of account opening. After 30 days, the balance transfer APR applies in addition to the balance transfer fee.

If you perform a cash advance, there is also a separate APR for this as well in addition to a fee. There are also fees for a convenience check cash advance, ATM withdrawals, cash equivalent advances, overdraft protection, and foreign transactions. Each fee is charged as a percentage of the transaction or a minimum dollar amount. In the case of foreign transactions, they are charged the same way. However, the exact charge is based on whether or not the transaction is in U.S. dollars or a foreign currency.

There is a way to avoid paying interest on balance transfers. If the balance is paid in full by the due date each month, the APR on purchases will not be charged. This is a way cardholders can save money; otherwise there is a minimum interest charge on the card.

Qualification

To qualify for the card, applicants must be residents of the U.S. and at least 18 years of age with a job and good credit. The application process is simple in that it asks for basic personal and contact information. It also asks about balance transfers and any other applicable information. The application is always subject to change.

Once the application is submitted, the cardholder will receive an instant decision. If the application is approved, it takes approximately 7 to 10 days for the card to arrive.

Final Thought

Businesses looking for a credit card that gives them valuable tools to monitor spending, the opportunity to save money, an introductory rate, and the ability to transfer high interest balances to a lower interest card will find that the U.S. Bank Business Edge™ Platinum Visa has what they need to effectively manage spending and save the business money.