Top Metal Credit Cards For 2019

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0% APR Credit Card Offers: The Complete Guide

0% apr credit cards

Credit card debt is a curse that can be exceedingly difficult to dispel. Those struggling to deal with debt may find that interest payments cripple their efforts to pay down debt, thus perpetuating the vicious circle of indebtedness.

Of course, the underlying problem isn’t the credit cards or their users; it’s the fact that the necessities of life (housing, education, health care, etc) grow less and less affordable by the day, thus making the average person choose between credit card debt and generational immiseration, homelessness, early death, and other consequences of American poverty. However, there’s something you can do to minimize the interest that gets tacked onto your credit card debt: Get a credit card with a 0% introductory APR offer.

What Is A 0% Introductory Offer?

transaction fees and rates

Many credit cards, both personal and business, come with introductory 0% APR periods. These periods typically last 9 to 12 months but can last for as long as 18-21 months. During this time, you won’t be charged interest on your debt.

Now, an intro 0% APR may not necessarily apply to all the debt you accumulate with the card in question. That’s why it’s important to distinguish between two common types of 0% introductory offers: those that apply to purchases and those that apply to balance transfers.

Balance Transfer Intro Rates VS Purchase Intro Rates

When you examine the details of your 0% introductory offer (always examine the details, folks!), you may find that the 0% APR offer applies to purchases. A 0% introductory purchase APR is simple: For the length of the offer, you will not be charged any interest on the credit card debt you’ve accumulated via purchases. This leaves out the debt on your credit card that didn’t come from purchases, including balance transfers.

Accordingly, another type of popular credit card offer is the 0% introductory rate on balance transfers. With these offers, you can transfer a balance to your card and pay no interest on that balance for the length of the 0% APR period.

Now, many cards feature 0% introductory rates on both purchases and balance transfers. These cards are ideal if you’re looking to both avoid interest charges on your purchases and consolidate your existing credit card debt onto a card that won’t charge interest on that debt. Obviously, these cards are ideal for debt reduction purposes. Here’s what to keep in mind if you end up having to choose between the two:

  • Get a card with an introductory 0% APR on balance transfers if you intend to use your card to pay down your existing high-interest credit card debt. An important caveat: These offers often restrict when you can make a balance transfer and have the intro 0% APR apply. For example, when you read the fine print, the offer may say “0% intro APR for 15 months on balance transfers made within 45 days of account opening.” This seems confusing and contradictory at first glance, but what it means is that in order to enjoy 15 months of not being charged interest on your balance transfer, you have to make that transfer within 45 days of opening your credit card account.
    • Additionally, a credit card may charge you a balance transfer fee even if it doesn’t charge you interest on your balance transfer for a certain length of time. The balance transfer fee is entirely separate from the balance transfer APR. A common balance transfer fee policy is something like “Either $5 or 5% of the amount of each transfer, whichever is greater.” However, there are a few credit cards that offer both a lengthy intro 0% APR on balance transfers and no balance transfer fee. If you’re looking for a good card for debt consolidation, look for one of those!
  • Get a card with an introductory 0% APR on purchases if your goal is to cover a large expense (or a series of large expenses) while avoiding interest charges. An intro 0% APR on purchases will let you cover that medical emergency or vacation or car repair bill and then gradually pay for the expense over the course of your introductory 0% APR period without paying any interest.

Pros & Cons Of 0% Intro Offers

On the pro side, 0% intro APR offers can benefit you by letting you pay for large expenses over a specified length of time without paying interest and by letting you transfer balances to the card and not pay interest on said balance during the 0% APR period. You can even transfer other forms of debt to your card such as college loans and personal loans. Just don’t transfer more than you can pay down during the 0% APR period — otherwise, you could face steep interest charges after the intro 0% APR period ends.

As for cons, there are none. Unless you enjoy experiencing pain for the sake of experiencing pain — and that’s fine; I’m no kink-shamer — there is no downside to having smaller credit card bills than you would have otherwise.

The worst you could say about credit cards with long 0% intro APR offers is that they may possibly — but not necessarily — be lacking in other respects. For example, you may find a card that would save you money on interest payments after paying for your dog’s surgery, but whose annual fee would negate some or all of what you would otherwise save.

I’m not saying you should be wary of 0% introductory rates. I’m just saying there are other factors to consider when choosing the right credit card for your needs.

0% APR Intro Rates VS Deferred Interest

Deferred interest deals come with huge downsides and are not the same thing as introductory 0% APR offers. Let’s tackle the thorny subject of deferred interest.

Most major credit card issuers don’t offer deferred interest deals. These deals are most often found in store credit cards such as those issued by Walmart/Sam’s Club (I do believe in corporate-shaming).

What happens is this: You buy a refrigerator or a sewing machine under a deferred interest financing arrangement (it may be offered as “no interest for 12 months” or something). The terms of the deferred interest deal state that you won’t be charged interest on the purchase for 12 months unless you don’t pay off the purchase completely within that 12 months. If even a single cent of your purchase remains unpaid after 12 months, you’re then immediately hit with all the interest you would have been charged on the entire purchase over the prior 12 months.

In effect, your interest-free period is retroactively canceled.

This is not what happens with a genuine introductory 0% APR offer. With these offers, if you have a balance remaining on the purchases you made during the intro 0% APR period after the 0% APR period ends, you then become responsible for paying interest on the remaining balance in subsequent billing cycles. You are not retroactively charged for the interest that would have accrued during your 0% APR period.

For more on why deferred interest is a gilded scam from the predatory depths of exploitation hell, read our article about deferred interest and why you should avoid it.

Intro Rate Best Practices

The one thing you can do to get your intro 0% APR canceled is to miss a monthly minimum payment. When you miss a monthly payment, your card issuer will likely cancel your 0% APR period, thus subjecting you to the regular ongoing APR (or, worse, a penalty APR significantly higher than the regular ongoing APR) in subsequent billing cycles. Furthermore, your credit score will suffer damage. Try to make those monthly payments!

Final Thoughts

At a time when (according to the Federal Reserve) folks are drowning in more debt than ever before, any financial strategy that can result in less debt should be explored. Credit cards with long introductory 0% APR periods are obviously not a panacea for debt woes, but they can make a crucial difference in how much of your hard-earned cash you’ll be handing over to your creditors each month.

Still looking to save on interest payments with your next credit card? Check out these helpful resources!

  • Best business credit cards with 0% APR offers
  • APR vs interest rate
  • Deferred interest explainer

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How To Start A Pet Sitting Business: The Complete Guide

Have you always had an affinity for furry (or scaly) things? Have you ever needed money? If you answered yes to both these questions, you may want to consider starting a pet-sitting business.

But before you pick up the leashes and pooper-scoopers, it’s a good idea to sit down and plan out the trajectory of your business. If that sounds overwhelming, don’t fret. Below, we’ll lay out the steps you can take to start a pet-sitting business.

Decide On A Location

Since you’re going to be dealing with people’s pets, you’ll need to take into account your proximity to your clients. If they’re dropping their pets off with you, you’ll want to be located somewhere easily accessible to most of your customers, and one that can accommodate animals. Depending on where you live, this can be tricky as the space necessary to accommodate animals will usually be cheaper in less centralized locations.

On the other hand, if you’re going to your customers, you’ll need to take into account the amount of time you need to spend with each client’s pets, the costs of commuting to the job, and how animal-friendly/animal-hostile the infrastructure in your service area is (dog parks, etc.).

Register Your Business

Why should you register your business? Depending on your local laws, you may actually be required to register your business in order to legally pet-sit. But even in jurisdictions where it isn’t compulsory, there are some advantages to doing so.

The first is that you can do business under a name other than your own. So instead of Martha Swearingen, LLC, you can do business as Baron Bark’s Pet Pampering Service (you can have that one for free).

The default configuration for businesses is a sole proprietorship (or a partnership, if you’re starting it with someone else). This essentially means that you’ve started a business with your own name or, if you file a DBA (Doing Business As), a name of your choice.

Sole proprietorships have the advantage of being cheap and easy to start. Your taxes will also be easier to file (and lower) than they would generally be with other forms of incorporation. Keep in mind, however, that for liability purposes, sole proprietorships and the individuals behind them are essentially one and the same.

Other forms of incorporation will require a bit more work and come with their own advantages and disadvantages. Most pet-sitting companies aren’t going to be interested in forming C-suites for governance, so you can probably ignore S-Corps and C-Corps for now. You may, however, want to consider forming an LLC to provide some separation between your personal finances and liabilities and your business ones.

Here are the most popular ways to incorporate:

  • Limited Liability Corporations (LLCs): If you’ve seen LLC after a corporation’s name, you’re dealing with this type of company. LLCs offer limited liability protection for their owners without the full complexity of a corporation. Each state has its own rules for how to start and maintain an LLC, and you don’t necessarily have to register your LLC in the state where you’re doing business (although you’ll generally want to). LLC owners report their business earnings and losses on their personal taxes.
  • C-Corp: This is the “basic,” default form of incorporation. Shareholders are considered the owner(s) of the company and receive limited liability protection; however, the business decisions are made by corporate officers who may or may not be shareholders. The corporation is taxed separately and shareholders pay income tax on dividends. To form a C-corp, you’ll file articles of incorporation with your state.
  • S-Corp: S-corps are similar to C-corps in most ways, but come with a few additional restrictions: you have to have fewer than 100 shareholders and they have to all be U.S. citizens or residents. Unlike C-corps, profits and losses are reported on personal taxes, not unlike an LLC. In addition to filing articles of incorporation, you’ll also need to file IRS Form 2553.

Get Business Insurance

As a pet-sitter, you’re not just dealing with property, you’re dealing with animals whose owners often view them as part of their family. In other words, if something goes wrong, things could get ugly.

Depending on your local laws, you may be required to carry certain types of insurance.

The type of insurance that will probably be of most interest to you is general liability insurance. This protects you in the event of a lawsuit or accident, whether it’s an accidental injury to the animal or if you accidentally damage property within a client’s home. It doesn’t only protect you, however; it also makes you look like a safer option than a business that isn’t covered.

There are other, more specialized types of insurance that are worth taking a look at depending on the specifics of your business. These include:

  • Property Insurance: Protects the property needed to run your business (as opposed to damages you cause to clients’ property).
  • Business Interruption: Covers costs related to unforeseen events that make your business unable to function.
  • Professional Liability (Error and Omissions): Covers the costs of defending your company in lawsuits in cases where your business caused a financial loss.

If you aren’t sure where to look, we can help you.

Invest In Business Software

While not absolutely necessary, you can save yourself and your customers some hassle with strategically chosen business software. For pet sitting, there are probably three types most worthy of consideration.

Payment Processing

Doing business with cash can be convenient when you’re first starting out, but as you grow, you’ll probably be missing out on clients if you can’t accommodate other forms of payment.

Recommended Option: Square

Best Overall Mobile POS


Review Visit Site

Highlights

  • No contract or monthly fee
  • Instant account setup
  • Retail upgrade available
  • Restaurant upgrade available
  • For iOS and Android mobile devices
  • 2.75% per in-person card swipe

Retail POS: Free trial ($60/mo value)

 

Restaurant POS: Free trial ($60/mo value)

 

Square POS: Always free

If you have an iOS or Android device, Square offers an extremely convenient way to accept mobile payments while on the go via a small add-on you plug into your device. It’s also a very scalable service; if you’re running a retail location, there are even more features and service options you can take advantage of.

Best of all, there aren’t any monthly fees to worry about. Square charges between 2.75  – 3.5 percent per transaction (depending on whether you swipe or key in the info), so you’ll want to factor those costs into your expenses.

Scheduling Software

As you add clients, it will get harder to remember their particular preferences, not to mention more difficult to fit them all into your schedule. With booking or scheduling software, you can track your time, note customer needs, and efficiently plan your days’ work. Many of these offer their basic features free of charge.

Accounting Software

Most businesses can benefit from accounting software. What you don’t want is to spend money unnecessarily on one. Wave offers most of the features you need at no cost.

With no monthly fee, you’ll get invoicing, estimates, contact management, expense tracking, accounts payable, and inventory tracking.

Seek Funding

Pet-sitting, especially, if you’re going to your clients, doesn’t have a lot of overhead when you’re first starting out. In the event that you do need to scare up some money to cover starting expenses or equipment, there are a number of options available to you.

Personal Savings

If you can avoid taking on debt, it’s usually a good idea. It may hurt to part with some of your rainy day funds, but you won’t be accumulating expensive interest and fees.

Tap Your Support Network

If you do need money from an outside source, you can often get a better deal from your support system than you can from a private lender.

Keep in mind that this comes with its own risks. You may stress your relationships, especially if you aren’t able to pay back these so-called friendly loans quickly. One way to avoid this is to formalize any agreements you make with friends and family so that everyone fully understands what they’re getting into and what the expectations are. You may even want to draw up a formal contract that outlines any expected payments and return on investment.

Credit Cards

For the relatively low expenses you will encounter when you start a pet-sitting business, credit cards can probably suffice for most of your needs.

The general rules of thumb when it comes to using credit cards effectively are these:

  1. Use credit cards for expenses that you can pay off within their interest-free grace period.
  2. Pick a card with a reward program that matches your spending habits and needs.
  3. Do not take out cash advances on your credit card.

If you follow these rules, you can actually save money by using your credit card to make purchases.

Recommended Option: American Express SimplyCash Plus

SimplyCash Plus Business Credit Card from American Express



Compare

Annual Fee:


$0

 

Purchase APR:


14.49% – 21.49%, Variable

Amex’s SimplyCash Plus offers one of the best cash back programs available without an annual fee. You’ll get 1 percent back on generic purchases, 5 percent back on wireless telephone purchases and office supply stores in the U.S. But it’s the middle tier that’s most interesting. You can select a category of your choosing (airfare, hotel rooms, car rentals, gas stations, restaurants, advertising, shipping, or computer hardware) to get 3 percent back.

It also carries an introductory 0% APR for the first nine months, which can be helpful if you’re just starting out.

Recommended Option: Amazon Business Prime American Express Card

Amazon Business Prime American Express Card


Compare

Annual Fee:


$0

 

Purchase APR:


16.24% – 24.24%, Variable

This one’s a little more niche. But if you find yourself buying supplies and random pet-related doodads on Amazon frequently, you can get a lot of value out of the Amazon Business Prime American Express Card.

If you have a Prime membership, you’ll earn a whopping 5 percent back on purchases made at Amazon.com, Amazon Business, AWS, and Whole Foods Market — or an extra 90 days interest-free grace period for purchases made at those places. Even if you’re not a Prime member, you’ll get 3 percent or 60 days, respectively. You’ll need to spend around $6,000 to recoup the cost of a $119 Prime membership with points alone, but that’s without factoring in money saved through Prime’s programs (shipping, deals, etc).

Personal Loans

If you need more money than you can safely put on a credit card, or need longer to pay it off, you should consider getting a personal loan that can cover business expenses.

There are some disadvantages to taking this route, namely that you’re on the hook rather than your business, but if your credit is good, it’s not the worst option out there.

Recommended Option: Lending Club Personal Loans

lending club logo

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Lending Club is a good option for individuals who may not have the strongest credit, but have a good debt-to-income ratio. The borrowing range is fairly narrow at $1k to $40k, but when you’re just starting out, you don’t want to go too deeply into debt anyway. You’ll have three-to-five years to pay it off, which makes it fairly manageable.

Recommended Option: Lendio

Review

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If you’re just entering the alternative loan market for the first time, it can be pretty overwhelming. Lendio takes some of that burden off of you by allowing you to effectively apply to their whole network of lenders with one application.

Need more options? Check out our feature on startup loans.

Create Contracts

If you’ve just been watching your friends’ pets, you’ve probably had an informal agreement about the services you’d provide and the expectations of safety and liability involved. And that was probably enough.

When you’re dealing with strangers in a professional capacity, however, it’s smart to formalize these elements in a contract. This can save you a lot of headaches, if not legal troubles, down the road. You’ll want to include critical information about the pet (when and what they eat, how they are with strangers, pertinent medical history, etc.), what’s included in your services, and the client’s expectations for how their home will be treated under your care (if applicable). You’ll also want to include your fees and rates.

If you can, have a lawyer look it over to make sure it checks out legally.

Market Your Business

Getting the word out is always one of the most challenging parts of getting a business off the ground. The easiest place to start is through word of mouth. Are you already looking after the pets of a family or two? Let them know you’re looking to take on more clients, along with your friends, family, and social contacts.

At some point, you’ll probably want to expand outside the reach of your current contacts, which means advertising. It doesn’t have to be fancy. You can post flyers on bulletin boards and leave business cards in places trafficked by pet owners. Online classified sites like Craigslist can also cover a large audience in your area.

Bolster Your Web Presence

When it comes to promoting small business, the internet is one of those things that’s easy to both over- and underestimate. On the one hand, simply buying an ad and hoping for the best likely won’t yield amazing results. On the other, you do need an internet strategy to grow your business.

It doesn’t have to be fancy, but you’ll probably want a website that details your basic services and contact information. Don’t overthink it. There are a lot of great tools available that can help you build a website.

Remember, too, that social media isn’t just for sharing pictures of your dinner with your friends. You can use to communicate with customers, make engaging content that makes them keep your brand in mind, and announce special deals and service changes.

Final Thoughts

Hopefully, everything we covered doesn’t look too intimidating. If you’re good with animals and don’t mind turning that love into a source of revenue, you can get a pet-sitting business up and running in no time!

Having second thoughts about pet-sitting but are still looking to open a business? Check out our other beginners’ guides.

The post How To Start A Pet Sitting Business: The Complete Guide appeared first on Merchant Maverick.

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Top Credit Cards With No Foreign Transaction Fees

best credit cards with no foreign transaction fees

Your credit card might come with some nice rewards for your spending. It might even offer some nice travel benefits. But if it carries a foreign transaction fee, that means that every charge you make while outside the US is subject to an extra fee, usually 3%. Think of it this way: for every $100 in overseas charges you make, you’ll be spending another $3 in fees.

Spend enough on purchases outside the country, and foreign transaction fees will eat into whatever net benefit your card use would have otherwise brought you. Thankfully, the solution is clear. If you’re going to be using your credit card outside the US with any frequency, use a credit card with no foreign transaction fees.

Most credit card companies offer both cards that carry a foreign transaction fee and cards that don’t. However, there are two prominent exceptions to this general rule: Capital One and Discover. Neither credit card issuer charges a foreign transaction fee on any of their cards, making their credit card lineups particularly appealing to the traveler who spends a significant amount of time and money outside the US.

Let’s survey the landscape and highlight the best credit cards with no foreign transaction fees.

Credit Card Best For
Capital One Quicksilver Cash Rewards Cash Back with No Annual Fee
Chase Ink Business Preferred Business
Capital One QuicksilverOne Cash Rewards Average Credit
Barclays Arrival Plus World Elite Mastercard Travel Rewards
Chase Sapphire Preferred Transferable Travel Rewards
The Platinum Card from American Express Luxury Travel Benefits
Uber Visa Restaurants/Dining
Discover it Cash Back Rotating 5% Cash Back Categories

Best For Cash Back With No Annual Fee: Capital One Quicksilver Cash Rewards

Quicksilver from Capital One



Compare

Annual Fee:


$0

 

Purchase APR:


16.24 – 26.24%, Variable

The Capital One Quicksilver Cash Rewards card is a great cash back credit card for the international traveler who can’t be bothered with category restrictions on earning cash back and just wants to earn cash back at a flat rate — all without paying an annual fee.

The highlight of this card is undoubtedly the unlimited 1.5% cash back you’ll earn on every purchase, everywhere. You won’t have to worry about spending categories and there is no limit on the amount of cash back you can earn. You won’t have to weigh the benefits you’ll accrue against foreign transaction fees or an annual fee either, as there are no such fees.

Another great feature of the Capital One Quicksilver Cash Rewards card is the 15-month 0% intro APR on purchases and balance transfers. Most credit cards offer an introductory 0% APR for a year or less (if they offer one at all), so with the Quicksilver card, you’ll get an extra buffer period before you’ll have to start thinking about monthly interest charges.

Best For Business: Chase Ink Business Preferred

Chase Ink Business Preferred



Compare 

Annual Fee:


$95

 

Purchase APR:


18.24% – 23.24%, Variable

Chase Ink Business Preferred is a business credit card that confers some nice travel benefits. One of these benefits, of course, is the lack of a foreign transaction fee.

Ink Business Preferred offers an eye-catching bonus offer: 80,000 bonus points after you spend $5,000 on purchases in the first 3 months. When redeemed for travel, that’s a $1,000 reward. That’s because points are worth 25% more when you redeem them for travel through Chase Ultimate Rewards.

On the subject or points-earning, you’ll earn 3 points per $1 on your first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable/phone services, and on social media/search engine advertising each year. You’ll earn 1 point per dollar spent on everything else.

Not only will you get a 25% boost to your points value when booking travel via Chase’s travel portal, but you can transfer your points on a 1:1 basis to the travel rewards programs of partners like United Airlines and Marriott.

The Ink Business Preferred does, however, carry a $95 annual fee.

Best For Average Credit: Capital One QuicksilverOne Cash Rewards

QuicksilverOne from Capital One



Compare

Annual Fee:


$39

Purchase APR:


26.99%, Variable

Not to be confused with Capital One’s other Quicksilver card, the QuicksilverOne Cash Rewards credit card is one of the few credit cards out there that both lacks a foreign transaction fee and is available to applicants with average credit.

The Capital One QuicksilverOne Cash Rewards card offers the same unlimited 1.5% cash back as the Quicksilver Cash Rewards card. Not bad for a card available to people with average credit!

Of course, there are some trade-offs to be made here. Unlike Capital One’s other Quicksilver card, this card offers no introductory 0% APR, an annual fee of $39, and a high variable APR that currently stands at 26.99%. The high APR combined with the lack of an intro 0% APR period means that you’ll want to avoid carrying a significant balance on this card from month-to-month. You’ll also need to spend at least $2,600 a year in order to earn enough cash back to make up for the annual fee.

Best For Travel Rewards: Barclays Arrival Plus World Elite Mastercard

Barclays Arrival Plus World Elite Mastercard


Barclays Arrival Plus World Elite Mastercard
Compare

Annual Fee:


$89 (waived the first year)

 

Purchase APR:


18.24% – 25.24%, Variable

The Barclays Arrival Plus World Elite Mastercard makes some tantalizing offers to the frequent traveler. Along with no foreign transaction fees, this card offers three big perks for the international traveler.

  • Earn 70,000 bonus miles when you spend at least $5,000 on purchases in the first 90 days — the equivalent of a $700 travel statement credit
  • Earn unlimited 2X miles on every purchase
  • Get 5% of your miles back to use toward your next redemption each time you redeem them

The 2X miles you’ll earn with every purchase is one of the highest flat earning rates of any travel credit card. And since you’ll get 5% of your miles back whenever you redeem them, the cash back rate is effectively 2.1%.

What’s more, your miles can be redeemed for a lot more than just airfare. You can redeem them for hotel stays, car rentals, trains, buses, taxis, and more. You can even use your miles to pay the $89 annual fee (the fee is waived the first year), though hopefully, you can find something more exciting to use them on!

Another nice card feature: If you transfer a balance to this card within 45 days of your account opening, you’ll pay a 0% introductory APR on that balance for 12 months.

Best For Transferable Travel Rewards: Chase Sapphire Preferred

Chase Sapphire Preferred



Compare

Annual Fee:


$95 ($0 the first year)

 

Purchase APR:


18.24% – 25.24%, Variable

The Chase Sapphire Preferred card is another travel rewards card with no foreign transaction fee. With Sapphire Preferred, not only can you redeem your rewards through Chase’s travel portal — you can also transfer your points on a 1:1 basis to the following airline and hotel travel partners:

  • Aer Lingus, AerClub
  • British Airways Executive Club
  • Flying Blue AIR FRANCE KLM
  • Iberia Plus
  • JetBlue TrueBlue
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards
  • United MileagePlus
  • Virgin Atlantic Flying Club
  • IHG Rewards Club
  • Marriott Rewards
  • The Ritz-Carlton Rewards
  • World of Hyatt

The Chase Sapphire Preferred card features a bonus offer of 50,000 bonus points after you spend $4,000 on purchases in the first 3 months. Thanks to the 25% value bonus you’ll get when redeeming your points for travel via Chase Ultimate Rewards, these 50,000 points can become $625 for travel expenses.

You’ll also earn 2X points on travel and dining at restaurants and 1X points on everything else.

Unfortunately, the card carries a $95 annual fee (waived the first year) and lacks an introductory 0% APR period.

Best For Luxury Travel Benefits: The Platinum Card from American Express

The Platinum Card from American Express


The Platinum Card from American Express
Compare

Annual Fee:


$595

 

Purchase APR:


N/A (charge card)

The Platinum Card from American Express may not have a foreign transaction fee, but it does sport a $550 annual fee. That should tell you who this card is aimed at. It’s not the average traveler looking to earn some points/miles on the side. This card is for the well-heeled traveler seeking the finest in travel perks.

Of all the travel benefits this card offers, the best benefit might just be the 1,200+ airport lounges worldwide you’ll gain access to via the American Express Global Lounge Collection. It’s the largest airport lounge network around. I may not have any personal experience with these exclusive lounges, but I’m sure they’re spectacular.

The card comes with a host of other travel perks befitting a card with such a high annual fee. You’ll earn 5X Membership Rewards points on flights booked directly with airlines or with American Express Travel and on prepaid hotels booked on amextravel.com. You’ll get a fee credit of up to $200 a year to cover checked bags and in-flight food and drinks. You’ll be enrolled in the Fine Hotels & Resorts program, giving you access to travel amenities with an average value of $550/year.

The card currently offers quite the bonus offer: 75,000 Membership Rewards points after you spend $5,000 on purchases on your new card in your first 3 months.

Just keep in mind that the Platinum Card is a charge card, meaning you won’t be able to carry a balance from month to month.

Best For Restaurants/Dining: Uber Visa Card

Uber Visa


Uber Visa
Compare

Annual Fee:


$0

 

Purchase APR:


17.24% – 25.99%, Variable

The Uber Visa card, a joint venture of Uber and Barclays, is a new credit card that offers great value to those who love to go out and live it up without worrying about things like foreign transaction fees or an annual fee.

The card offers an amazing 4% back on restaurants, takeout, and bars (UberEATS included), making the Uber Visa a compelling choice for you nightlife lovers. The card also offers 3% back on airfare and hotel stays, 2% back on all online purchases (yes, including Uber), and 1% back on all other purchases.

That’s not all. There’s a signup bonus of 10,000 points ($100) after you spend $500 on purchases within the first 90 days. There’s a cellphone protection plan that offers up to $600 if your phone is broken or stolen (conditions apply). There’s even a $50 credit toward digital subscriptions you’ll get if you spend at least $5,000 on your card each year.

With a system that rewards going out for food and drinks, online shopping, and offers cellphone protection, this card seems targeted at millennials, or at least the few millennials who aren’t drowning in debt already. One thing that won’t appeal to millennials, however, is the card’s lack of an introductory 0% APR.

Best For Rotating 5% Cash Back Categories: Discover it Cash Back

Discover it Cash Back



Compare

Annual Fee:


$0

 

Purchase APR:


14.24% – 25.24%, Variable

The Discover it Cash Back card allows those who don’t mind tracking rotating spending categories the chance to earn 5% cash back on their purchases.

With the Discover it Cash Back, you’ll earn 5% cash back on up to $1,500 in purchases each quarter on selected spending categories. The 5% categories for 2019 are:

  • January to March: Grocery stores
  • April to June: Gas stations, Uber, and Lyft
  • July to September: Restaurants
  • October to December: Amazon.com

Of course, you’ll earn 1% cash back on all other purchases.

What makes this Discover card an even better cash back value is the fact that Discover will match all the cash back you’ve earned at the end of your first year, thus doubling your first year’s cash back haul.

Beyond that, this card is a simple, reasonable credit card. There’s no annual fee, a competitive regular APR, a 0% intro APR for 14 months on purchases and balance transfers, and you can access your FICO score for free.

One word of caution: Though there is no foreign transaction fee, international acceptance of Discover cards can be hit-or-miss.

Final Thoughts

If you spend a significant amount of time outside the US, an ordinary credit card will have you needlessly paying 3% extra to your credit card company in the form of foreign transaction fees.

Don’t be a sucker. When spending money abroad, use a credit card that doesn’t charge a foreign transaction fee. Thankfully, the number of such cards has been expanding in recent years and you now have a wide range of choices!

Not sure which cards you’ll qualify for? Check out these helpful resources!

  • Best free credit score sites
  • Ways to improve your credit score
  • Using personal credit cards for business

The post Top Credit Cards With No Foreign Transaction Fees appeared first on Merchant Maverick.

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Sam’s Club VS Costco Credit Card: Which Is Best For Your Business?

Sam’s Club and Costco are the two biggest wholesale clubs (also known as warehouse clubs) in America, and it so happens that each one offers a consumer credit card.

The Sam’s Club Mastercard and the Costco Anywhere Visa Card by Citi have a lot in common. The two cards have similar APRs, a similar annual fee structure (both cards technically lack an annual fee, but you must be a member of the wholesale club to get the card, and each wholesale club has an annual fee), and similar cash back rewards. However, as you’ll see, there are a few key differences.

Let’s see who comes out on top in a battle between Sam’s Club and Costco for wholesaler credit card supremacy.

Sam’s Club Mastercard Citi Costco Anywhere Visa

Sam’s Club Mastercard

Citi Costco Anywhere Visa

$0 but Sam’s Club membership is required and starts at $45/year

Annual Fee

$0 but Costco membership is required and starts at $60/year

17.15% – 25.15%, Variable

Purchase APR

17.49%, Variable

Get $45 as a statement credit when you make a $45+ purchase the same day you get your card

Bonus Offer

None

N/A

Purchase Intro APR

N/A

N/A

Balance Transfer Intro APR

N/A

0%

Foreign Transaction Fee

0%

  • 5% cash back on first $6,000/year spent on gas, 1% thereafter
  • 3% on dining/travel
  • 1% on everything else
  • Max cash back per year is capped at $5,000
Rewards
  • 4% cash back on first $7,000/year spent on gas, 1% thereafter
  • 3% on dining/travel
  • 2% on Costco/Costco.com
  • 1% on everything else
  • No cap on cash back/year

Compare

Compare

Eligibility Requirements

The Sam’s Club Mastercard requires good to excellent credit (a credit score of 690+) while the Citi Costco Anywhere Visa requires excellent credit (a credit score of 720+).

Fees & Interest Rates

Sadly, neither card features an introductory 0% APR period, so be aware that you’ll be on the hook for interest charges immediately if you start carrying a balance from month to month.

As for the purchase APR, the Sam’s Club Mastercard offers a variable APR of either 17.15% or 25.15%, depending on your credit. By contrast, the Costco Anywhere Visa sports a variable APR of 17.49% for all cardholders. With great credit, you can qualify for a lower APR with the Sam’s Club card, but on the other hand, Costco won’t try to hit you with a 20+% APR no matter what your credit.

Technically, neither card has an annual fee. However, you have to be a member of each wholesale club in order to get either card, and each club has an annual fee. Sam’s Club memberships cost $45 (baseline membership) or $100 (premium membership) while Costco membership costs $60 (baseline) or $120 (premium). Sam’s Club has a slight edge here.

Neither card has a foreign transaction fee.

Bonus Offer

The Sam’s Club Mastercard currently has a modest bonus offer: $45 as a statement credit when you make a $45+ purchase on the same day you receive your card (offer ends June 15, 2019).

The Costco Anywhere Visa has no bonus offer.

Winner: Sam’s Club!

Earning & Redeeming Rewards

Sam’s Club and Costco have remarkably similar cash back programs. The Sam’s Club Mastercard offers the following rewards:

  • 5% cash back on your first $6,000 in gas purchases per year (1% cash back thereafter)
  • 3% cash back on dining and travel purchases
  • 1% cash back on everything else
  • You can earn a maximum of $5,000 cash back per year
  • Cash back can be redeemed only once a year in the form of a check that can only be cashed at a Sam’s Club outlet

As for the Citi Costco Anywhere card:

  • 4% cash back on gas at eligible gas stations worldwide (including Costco), max $7,000 per year
  • 3% cash back on restaurants and eligible travel purchases
  • 2% cash back on purchases from Costco and Costco.com
  • 1% cash back on all other purchases
  • No cap on the amount of cash back you can earn per year
  • Rewards are redeemable only once a year as a check that can only be cashed at a Costco

First, the similarities: Both cards offer 3% cash back on dining and travel purchases, both cards offer 1% cash back on all non-bonus categories, and both cards have the same inconvenient and cumbersome redemption system in which you can only redeem your cash back once per year and only inside a physical Sam’s Club/Costco store. Let’s now look at the three main differences.

The first difference: The Sam’s Club card offers 5% cash back on gas while the Costco card only offers 4% on gas. This is somewhat mitigated by the fact that your first $7K in gas spending per year gets you the high cash back rate with the Costco card, whereas with the Sam’s Club Mastercard, the first $6K in annual gas spending gets you 5% cash back. Doing the math reveals that you can earn a maximum of $300 in cash back on gas with the Sam’s Club card before your gas cash back rate reverts to 1%. With the Costco card, that number is $280 — just a $20 difference. Slight edge to Sam’s Club here.

The second difference: Costco’s Anywhere Visa gives you an elevated 2% earning rate (not great, but better than 1%) on spending at Costco and costco.com. By contrast, the Sam’s Club card does not reward your Sam’s Club spending with extra cash back. Your Sam’s Club purchases (in-store and online) will earn you just 1% cash back, the standard rate. The Citi Costco card wins this point.

The final difference, and the most significant one for the consumer or entrepreneur who spends a lot on the bonus categories in question here, is that Costco does not cap the amount of cash back you can earn per year. The Sam’s Club Mastercard does cap your annual cash back rewards — at $5,000 per year. As the Costco card wins this point, the Costco card wins this category by a hair, but if your card spending goes mainly towards gas, the Sam’s Club Mastercard might be better for you.

Benefits & Other Perks

Let’s look at what you’ll get in terms of extraneous benefits from the two cards in question. The Sam’s Club Mastercard will get you:

  • Identity theft resolution services
  • Price protection
  • Extended warranty

The Citi Costco Anywhere Visa comes with more benefits:

  • Travel & emergency assistance
  • Zero-liability fraud protection
  • Citi price rewind
  • Purchase protection
  • Extended warranty
  • Worldwide travel accident insurance
  • Trip cancellation & interruption protection
  • Worldwide car rental insurance

The Citi Costco card clearly has the edge here.

Which Is Best For Your Business?

Choose Sam’s Club Mastercard If…

  • Sam’s Club is your favorite (or most conveniently located) wholesale club
  • You plan to use your card predominantly on gas purchases
  • You’re looking for a bonus offer from your card
  • Your credit score is between 690 and 720

Sam’s Club Mastercard


Sam's Club Mastercard

Compare

Annual Fee:


$0

 

Purchase APR:


17.15% – 25.15%, Variable

Choose Citi Costco Anywhere Visa If…

  • Costco is your favorite (or most conveniently located) wholesale club
  • You spend a lot on the bonus categories and don’t want your annual cash back capped
  • You want your card to earn you extra cash back when you shop at your wholesaler

Final Thoughts

The Sam’s Club Mastercard and the Costco Anywhere Visa Card by Citi are so similar that if you’re deciding between these two cards, it’s probably going to come down to whether you prefer Sam’s Club or Costco. All else being equal, however, I’m inclined to give the Citi Costco card a narrow victory. That’s because the Costco Anywhere Visa a) doesn’t cap your annual cash back and b) offers 2% cash back when shopping at Costco (in-store and online). The Sam’s Club Mastercard caps your annual cash back and only offers 1% cash back at Sam’s Club, thus losing this battle.

However, the inconvenient and inflexible reward redemption programs of both cards mean that most consumers will be better served getting an “ordinary” cash back credit card offering better cash back redemption and other features these cards lack, such as an introductory 0% APR and a generous bonus offer.

Thinking about using a personal credit card to fund your business? Check out our helpful guide to using personal credit cards for business.

The post Sam’s Club VS Costco Credit Card: Which Is Best For Your Business? appeared first on Merchant Maverick.

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Top Unsecured Lines Of Credit For Business

Business financing is an expansive topic covering many types of financial products. Everyone’s got a pretty good idea of what a loan is, but less familiar is the line of credit, arguably one of the most useful types of financing a business can secure.

We’ll take a look at what lines of credit are, the difference between secured and unsecured lines of credit, why you might want one, and where you can find them.

What Is An Unsecured Business Line Of Credit?

Have you ever had a credit card? If so, you have already have some experience with how a line of credit works.

When you use a credit card, you’re drawing on an amount of potential funding extended to you by the card’s issuer. You can use it as often as you want so long as the total amount you’ve used doesn’t exceed your credit limit. Most credit cards are revolving lines of credit, which means that as you pay off your balance, your credit becomes available for you to use again. Most lines of credit are revolving; the exceptions tend to be lines of credit extended for specific purchases, in which case once you use the credit, it’s gone for good.

Credit cards aren’t the only lines of credit out there, however. Lender-issued lines of credit may be slightly less convenient for making retail purchases, but have far better interest rates for those times when you need to carry a balance from month-to-month. This makes a line of credit one of the most versatile ways to fund your business, acting a bit like an insurance policy you can draw on when you need to.

Unsecured Vs. Secured Business Lines Of Credit

So what does that “unsecured” part of the phrase mean? Essentially the same thing it does with any other type of loan.

An unsecured line of credit does not require you to put up collateral as a condition of securing it. This means the lender can’t immediately seize a particular asset should you default on your line of credit. By comparison, a secured line of credit might require you to make a cash deposit or put up an asset as collateral.

Generally speaking, unsecured financial products have higher rates of interest to make up for the increased amount of risk the lender is taking on. On the plus side, you don’t have to worry about coming up with collateral.

Note that “unsecured” does not mean the lender can’t come after you if you default. Many lenders will require you to sign blanket liens, for example.

Top Unsecured Business Lines Of Credit

The first step toward getting an unsecured business line of credit is finding a lender who offers one. If you have a good relationship with your local bank or credit union, it’s worth inquiring about what they offer and their terms.

If those lines of credit are unavailable or out of reach, you still have options available to you. Many online lenders offer unsecured lines of credit. Here are a few suggestions.

OnDeck

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OnDeck offers up to $100,000 credit limits on unsecured lines of credit to customers with a credit rating above 600 who have been in business at least a year and have over $100,000 in gross annual revenue. It’s a good fit for profitable companies that don’t have stellar credit.

There is, however, a $20/month fee for keeping your line of credit open, but OnDeck will waive it for 6 months if you draw at least $5,000 from it during the first five days after opening the account. There is no draw fee.

BlueVine

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If you’re looking for a line of credit with a higher credit limit, you may want to consider BlueVine. BlueVine offers unsecured lines of credit in two forms, one with a six-month interval, the other with a 12-month. The 12-month version has higher rates than the six-month.

Rather than charge an administrative fee, BlueVine charges 1.2 – 2.5 percent per draw. You can pay your balance off at any time during your term, but you will be charged interest at a rate of 0.3 – 1.5 percent per week for six-month lines of credit, or 1.5 – 6.5 percent per week for the 12-month.

Kabbage

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If you’re having a hard time getting your credit up over the 600 mark, you can still get an unsecured line of credit. One such option is through Kabbage, which offers a credit line of up to $250,000 to businesses with at least $50,000 in annual revenue.

Like BlueVine, Kabbage offers lines lasting six-months or 12-months. There’s no draw fee, however. The interest rate system is a little confusing, so be sure to check out their loan calculator to get a sense of what you’ll be charged, and at what month of your term (yes, really).

Fundbox

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Another way to make an end-run around a bad credit rating is through Fundbox. They offer lines of credit to businesses with annual revenues of $50,000 or more who have had an active account with Fundbox-supported accounting software (Quickbooks, for example).

Funbox charges by the amount drawn, starting at 4.66%. You’ll then make weekly, automated payments to pay it off.

Fundation

fundation logo

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If you’re looking for better interest rates, have decent credit, at least $100,000 in annual revenue, and three or more employees, you may qualify for an unsecured line of credit from Fundation.

At 18-month term lengths, Fundation’s lines of credit run a bit longer than the other options we’ve listed. Just be aware that there’s a $500 closing fee and a 2% draw fee. Payments are made monthly.

Top Unsecured Business Credit Cards

Remember, most credit cards are a type of unsecured line of credit. In comparison to the offerings above, a business credit card shines when it’s used to make purchases you can pay offer within the interest-free grace period. Even better, business credit cards offer reward programs you can take advantage of to actually save money.

Here are a couple of options:

Chase Ink Business Cash

Chase Ink Business Cash



Compare

Annual Fee:


$0

 

Purchase APR:


15.49% – 21.49%, Variable

With no annual fee and a 5 percent top tier return on qualified purchases, Chase Ink Business Cash offers a lot of benefits with little risk. The card shines particularly brightly if you use it to buy office supplies or telecom services.

The only real downside is that the card caps the upper and middle tier rewards at $25,000, so if you’re spending more than that on office supplies or telecom purchases per year, you’ll only get 1 percent back after you’ve hit the cap.

Amex Blue Business Plus

Blue Business Plus Credit Card from American Express



Compare

Annual Fee:


$0

 

Purchase APR:


13.49% – 21.49%, Variable

If your purchasing needs don’t fall neatly into any one reward category, you may want to consider American Express Blue Business Plus. You’ll get 2 percent back on all purchases for the first $50,000 you put on your card per year. After that, you’ll get a 1 percent return.

There’s no annual fee, so you won’t have to do any fancy math to figure out whether or not you’re saving money by having the card in your wallet.

Final Thoughts

Unsecured lines of credit can be extremely useful tools for financing your business, and they come in enough variations that you can probably find one that fits your specific needs. Remember to keep their variable fee structures in mind, though, so you know when you’re paying and for what.

Not sure what unsecured line of credit you might qualify for? You can check your credit before the lender does. Does an unsecured line of credit sound like more trouble than its worth? Unsecured business loans might be what you need.

The post Top Unsecured Lines Of Credit For Business appeared first on Merchant Maverick.

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No Credit? Here Are The Best Credit Cards To Improve Your Score

credit cards no credit

One of the primary ways for people to build up their credit scores and establish a healthy credit history is to make monthly credit card payments on time. Of course, this begs the question: How do you build up your credit when you don’t have a credit card in the first place?

Thankfully, there are a number of credit cards that can help those with bad credit — or even no credit — cover daily expenses while boosting their credit scores. Most of them require a security deposit, after which you’ll be extended a credit line equal to that of your deposit. Unfortunately, for those with no credit, unsecured credit cards are hard to come by, though they do exist, as you’ll see.

Let’s delve deeper into the world of credit cards for those without credit.

Petal Visa Credit Card

Petal Visa Credit Card


Petal Visa Credit Card
Compare

Annual Fee:


$0

 

Purchase APR:


15.24% – 26.24%, Variable

The Petal Visa credit card, issued by Utah-based WebBank, is a rarity in the credit card industry in that a) it is marketed specifically as a credit card for people with no credit history at all, and b) it is an unsecured card. You won’t have to make a security deposit in order to use the card! What’s more, your payments will be reported to the three major credit bureaus, thus building your credit (assuming you make your payments on time).

When you apply for the Petal Visa card, your income and spending will be analyzed to determine your creditworthiness, and while you can get approved without having a credit score, having a somewhat decent credit score may help you secure a higher credit limit.

The card offers credit limits between $500 and $10,000, which is quite generous for a card of this sort. The card also offers a variable APR of 15.24% – 26.24%, which is lower than that of many credit-building cards. Remarkably, the card charges no fees whatsoever — no annual fee, no foreign transaction fees, no late fees, and no penalty APR. Simply put, the Petal Visa card is a consumer-friendly product in a field where such products are few and far between.

The card has no rewards, cash back, bonus offer, or introductory 0% APR.

OpenSky Secured Visa Credit Card

OpenSky® Secured Visa® Credit Card



Compare

Annual Fee:


$35

 

Purchase APR:


19.64%, Variable

The OpenSky Secured Visa card is a rarity in that the company does not check your credit when you apply, making this card ideal for somebody with no credit history.

As this is a secured card, you’ll have to make a security deposit of at least $200 which will establish your credit line. And though there are no rewards to earn and no bonus offers, the card does report your spending to the big three credit bureaus, making the OpenSky Secured Visa a solid choice if you need to establish a credit history.

Unfortunately, the card sports a $35 annual fee and a 3% foreign transaction fee. However, the card’s APR comes in at just under 20%, which beats the APRs of many credit cards pitched to people with no credit or poor credit.

Discover it Secured

Discover it Secured


Compare

Annual Fee:


$0

Purchase APR:


25.24%, Variable

The Discover it Secured card is a traditional credit-building card in that it requires a security deposit. Your deposit, which must be between $200 and $2500, will become your credit limit. And like the other cards featured in this article, the card reports to the three major credit bureaus.

The Discover it Secured card offers an impressive level of rewards for a card of this type. You’ll earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and 1% cash back on all other purchases. What’s more, at the end of your first year, Discover will match all the cash back you’ve earned by that point. The card also carries no annual fee.

Secured Mastercard from Capital One

Secured Mastercard From Capital One



Compare

Annual Fee:


$0

 

Purchase APR:


26.99%, Variable

The Secured Mastercard from Capital One offers an unusual benefit for a secured credit card: You may be able to get a credit limit higher than the amount of your security deposit. If you’re approved, you’ll get an initial $200 credit limit, but your required security deposit will be either $49, $99 or $200, depending on Capital One’s assessment of your creditworthiness. You can also get access to a higher credit line after making your first 5 monthly payments on time.

While the card has no annual fee and no foreign transaction fee, you won’t earn any rewards for your spending. The card’s APR (currently at 26.99% variable) is also rather high, so you won’t want to carry a monthly balance if you can avoid it.

Journey Student Credit Card from Capital One

Journey Student Credit Card from Capital One


Journey Student Credit Card from Capital One
Compare

Annual Fee:


$0

 

Purchase APR:


26.99%, Variable

The Journey Student Credit Card from Capital One doesn’t require a security deposit and doesn’t require you to be a college student. Nonetheless, it offers some nice perks for students looking to build up their credit score. Sadly, you must have at least average credit to qualify.

The Journey Student Credit Card offers 1% cash back for all your purchases, but if you make your monthly payments on time, you’ll get 1.25% cash back for all your purchases each month you pay on time. It’s a nice inducement to pay on time if the prospect of boosting your credit score (the card reports to the credit bureaus, naturally) isn’t inducement enough!

The card carries no annual fee or foreign transaction fee, but like Capital One’s Secured Mastercard, the card features a high variable APR of 26.99%.

Spark Classic from Capital One

Spark Classic From Capital One


Compare

Annual Fee:


$0

 

Purchase APR:


25.24%, Variable

The Spark Classic from Capital One is a business credit card for rebuilding credit. As such, the card comes with business perks such as free cards for your employees, all while helping you build your business credit score (the card reports to the business credit bureaus, not the personal ones).

One of the few cards available for business owners that requires only average personal credit, the card offers a modest cash back rate of 1% for all your purchases. It also features no annual fee and no foreign transaction fee.

The card’s high APR (25.24% variable) means that you should try to avoid carrying a significant balance from month to month.

Credit One Bank Platinum Visa for Rebuilding Credit

Credit One Bank Unsecured Platinum Visa


Compare

Annual Fee:


$0 – $99 ($0 – $75 the first year)

 

Purchase APR:


20.24% – 26.24%, Variable

The Credit One Bank Platinum Visa for Rebuilding Credit (note that the issuer is Credit One, not Capital One) is a credit option for borrowers with bad/limited credit who can’t or won’t pay a security deposit. However, due to the fees involved, you might not want to make this card your first choice.

If you are approved to get this card, you’ll have to pay a $75 annual fee immediately, thus bringing your credit line down from $300 to $225. Unfortunately, after the first year, your annual fee may rise to $99/year. I say “might” because Credit One lists the post-1st-year annual fee as “$0 to $99”. The company also reserves the right to divide your annual fee by 12 and charge you on a monthly basis.

While the card offers 1% cash back on eligible gas and groceries plus mobile phone, internet, cable, and satellite TV services, only “qualified” Platinum Visa card members can receive 1% cash back rewards on all purchases. Credit One doesn’t explain how you can qualify for this.

Wells Fargo Business Secured Credit Card

Wells Fargo Business Secured Credit Card


business credit cards fair credit
Compare

Annual Fee:


$25

 

Purchase APR:


Prime + 11.90%

The Wells Fargo Business Secured Credit Card is one of the few secured business credit cards out there. Let’s take a closer look.

With this card, you’ll get a $500 to $25,000 credit line based on the amount you deposit. As for spending rewards, you’re given the choice between getting cash back and getting reward points. Choose cash back and you’ll also get 1.5% cash back on all your purchases and your cash back will be credited quarterly to your account.

If you choose reward points, you’ll get 1 point for every $1 spent on net purchases and 1,000 bonus points when your company spends $1,000 or more in any monthly billing period. You can redeem points for gift cards, merchandise, airline tickets, and more.

The Wells Fargo Business Secured card comes with an annual fee of $25 per card, no foreign transaction fee, and a relatively competitive APR. And while Wells Fargo states that your card activity “is shared with major credit bureaus to help build credit history,” the company does not specify whether these bureaus are business credit bureaus or consumer credit bureaus.

Citi Secured Mastercard

Secured Mastercard From Citi


best secured credit cards
Compare

Annual Fee:


$0

Purchase APR:


26.99%, Variable

The Citi Secured Mastercard is another secured credit card — one meant for people with no credit or a limited credit history.

The card requires a security deposit of between $200-$2,500 which will be the basis for your credit limit. Citi will report your credit activity to the major consumer credit bureaus.

There’s no annual fee, but the APR is relatively high and there are no rewards to accumulate or bonus offers to earn.

What You Need To Apply For A Credit Card

As you may not have applied for a credit card before, here’s what you’ll need to provide when you apply:

  • Your legal name
  • Your birth date
  • Your address
  • Your Social Security number (your Individual Taxpayer Identification Number (ITIN) may suffice if you don’t have a Social Security number
  • Your annual income

How To Use A Credit Card To Build Credit

free credit score monitoring service

The primary way that using a credit card helps you build credit is that when you make your monthly payments on time, most credit card issuers will report your activity to the major consumer credit bureaus, who will then take your payment activity into account when setting your FICO score.

However, there’s more to it than just that. Check out this article on using credit cards to build your credit for a more detailed look at the subject.

Final Thoughts

It’s a cruel catch-22: Having credit makes it easier to build credit. When it comes to the credit cards you can obtain with no credit history, the options are limited and imperfect.

Thankfully, as this article has demonstrated, you do have some viable credit card options when seeking to establish a healthy credit history. Of course, no matter what credit card you’re able to obtain, it won’t help your credit score if you can’t make your monthly payments on time. Use your new card wisely!

Here’s some additional information to help you on your credit journey!

  • How to improve your credit score
  • Using personal credit cards for business
  • How to build credit with a credit card

The post No Credit? Here Are The Best Credit Cards To Improve Your Score appeared first on Merchant Maverick.

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The Best Credit Cards Offered By American Airlines

best american airlines credit cards

Folks who travel regularly, both for business and for personal reasons, are likely to use frequent flyer programs to earn reward miles for their flights. As American Airlines is, by most metrics, the world’s largest airline, reward miles earned via American Airlines’s AAdvantage program are particularly useful.

One way to accelerate the rate at which you earn AAdvantage miles is to use an American Airlines co-branded credit card. Several such cards are available, so you might need a little guidance to find the card that makes sense for your particular needs. Thankfully, you can let us handle that part!

Here’s something you should know off the bat. All American Airlines credit cards offer the following rewards:

  • 2 AAdvantage miles for every dollar spent on eligible American Airlines purchases
  • 1 AAdvantage mile for every dollar spent on all other purchases
  • 25% savings on inflight food and beverage purchases

While each AA card shares these common features, the cards diverge from one another in other ways, such as fees charged, additional ways to earn miles, and travel perks. Let’s examine each American Airlines credit card and the primary selling point of each American Airlines credit card.

Credit Card Best For
AAdvantage MileUp Card No Annual Fee
CitiBusiness / AAdvantage Platinum Select World Mastercard Business Owners
Citi / AAdvantage Platinum Select World Elite Mastercard General Travel
Citi / AAdvantage Executive World Elite Mastercard High-End Travel Benefits
Barclays AAdvantage Aviator Red World Elite Mastercard Balance Transfers
Barclays AAdvantage Aviator Business Mastercard Bonus Offers

Best For No Annual Fee: AAdvantage MileUp Card

AAdvantage MileUp Card


AAdvantage MileUp Card
Compare

Annual Fee:


$0

 

Purchase APR:


18.24% – 26.24%, Variable

The AAdvantage MileUp Card’s value for the average traveler is enhanced by the fact that the card carries no annual fee. With most credit cards that earn airline miles, you have to weigh the miles you earn against the annual fee to see if you’re coming out ahead. If you don’t travel all that often, you might find yourself on the wrong side of this particular Mendoza line.

However, since the AAdvantage MileUp card carries no annual fee, you won’t have to weigh your benefits against your fee. Plus, not only will you earn the same double miles from your AA purchases as with every other AA card, but you’ll also earn 2 miles for every $1 spent at grocery stores.

This card doesn’t offer the same free checked bag perk offered by other AA credit cards. It is aimed more at the casual traveler or the entrepreneur who takes occasional vacations rather than at the frequent business traveler — a distinction highlighted by the double miles that accrue to grocery store purchases.

Unfortunately, this card requires excellent credit in order to qualify. There’s also a 3% foreign transaction fee, no introductory 0% APR period, and a relatively high APR.

Best For Business Owners: CitiBusiness / AAdvantage Platinum Select World Mastercard

CitiBusiness / AAdvantage Platinum Select World Mastercard


credit cards for entrepreneurs
Compare

Annual Fee:


$99 (waived for the first year)

 

Purchase APR:


17.99% to 25.99%, Variable

The CitiBusiness / AAdvantage Platinum Select World Mastercard is one of just two American Airlines co-branded cards currently being offered that is a business credit card. If you want to earn AAdvantage miles with your American Airlines travel and that of your employees, check out this card (or the Barclays AAdvantage Aviator Business Mastercard, which we’ll discuss later).

The card currently offers an impressive bonus offer of up to 60,000 AAdvantage miles: Earn 50,000 bonus miles after making $3,000 in purchases within the first 3 months and another 10,000 bonus miles after making a total of $10,000 in purchases within the first 12 months. You’ll also earn 2 miles for every dollar spent on gas, cable/satellite providers, select phone companies, and car rentals.

Along with the standard AAdvantage benefits, this CitiBusiness Mastercard offers additional perks befitting business travel, such as:

  • Preferred boarding on AA flights
  • 25% savings on American Airlines inflight Wi-Fi
  • First checked bag free on domestic American Airlines flights for you and up to four companions
  • Earn an American Airlines Companion Certificate worth $99 for domestic travel after $30,000 in purchases each cardmembership year (fees apply)
  • 24/7 personal business assistant to help with travel, hotel, and dining arrangements

The card does carry a $99 annual fee, though this is waived the first year. There is no introductory 0% APR period (boo!) and no foreign transaction fee (yay!).

Best For General Travel: Citi / AAdvantage Platinum Select World Elite Mastercard

Citi / AAdvantage Platinum Select World Elite Mastercard


Citi / AAdvantage Platinum Select World Elite Mastercard
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Annual Fee:


$99 ($0 the first year)

 

Purchase APR:


18.24% – 26.24%, Variable

The Citi / AAdvantage Platinum Select World Elite Mastercard is the personal counterpart to the CitiBusiness card listed above. It’s the most well-rounded of the bunch and makes for a solid travel credit card for frequent travelers.

With this card, along with the AAdvantage miles you’ll earn on AA flights, you’ll earn 2 miles per $1 spent at restaurants and gas stations with no cap on the amount of miles you can earn. You’ll also get a bonus offer of 50,000 bonus miles after you make $2,500 in purchases within the first 3 months.

Some handy travel perks come with the Citi / AAdvantage Platinum Select World Elite Mastercard (I’m sorry each of these cards has such an annoyingly long and similar name). You’ll get preferred boarding on all AA flights and one free checked bag on domestic AA flights. You’ll also get a $100 AA Flight Discount after you spend at least $20,000 on purchases during your cardmembership year and renew your card. What’s more, there’s no foreign transaction fee.

There’s also a $99 annual fee, waived for the first year. The APR also happens to be on the high side.

Best For High-End Travel Benefits: Citi / AAdvantage Executive World Elite Mastercard

Citi / AAdvantage Executive World Elite Mastercard



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Annual Fee:


$450

 

Purchase APR:


17.99% – 25.99%, Variable

The Citi / AAdvantage Executive World Elite Mastercard is the luxury option when it comes to American Airlines co-branded credit cards. This is apparent in the card’s whopping $450 annual fee!

As the most, well, “elite” of American Airlines’s credit cards, the Executive World Elite Mastercard comes with a host of great travel benefits:

  • 10,000 Elite Qualifying Miles after you spend $40,000 in purchases within the year
  • Automatic Admirals Club membership — access over 50 Admirals Club lounges and nearly 60 partner lounges worldwide
  • Global Entry or TSA PreCheck application fee credit
  • First checked bag free on domestic AA flights for you and up to 8 travel companions
  • Priority check-in, priority airport screening (where available), and priority boarding privileges for you and up to 8 travel companions
  • Dedicated concierge service

The card also comes with a bonus offer of 50,000 AAdvantage miles after you spend $5,000 on purchases within the first 3 months. And as you would expect of a luxury travel card, there’s no foreign transaction fee.

The card’s high annual fee means you’ll have to do quite a bit of traveling in order to fully reap the rewards of the card (or maybe you just really enjoy priority boarding and airport lounge access). If this is you and you don’t mind sticking to American Airlines for your air travel, check out the Citi / AAdvantage Executive World Elite Mastercard.

Best For Balance Transfers: Barclays AAdvantage Aviator Red World Elite Mastercard

Barclays AAdvantage Aviator Red World Elite Mastercard


Barclays AAdvantage Aviator Red World Elite Mastercard
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Annual Fee:


$95

 

Purchase APR:


18.24% – 27.24%, Variable

The AAdvantage Aviator Red World Elite Mastercard is an AA co-branded credit card issued by Barclays, unlike the cards above, which are all Citi-issued. It also comes with two unique and striking benefits.

First, unlike any other American Airlines credit card, this card offers an introductory 0% APR for 15 months on all balance transfers posted to your account within 45 days of your account opening. Second, this card offers a huge bonus of 60,000 miles, and all you have to do to get it is to make a single purchase on your card within 90 days. Of course, you’ll also have to pay the $95 annual fee, as it is not waived the first year.

The card comes loaded with great American Airlines-related perks. You’ll get preferred boarding and one free checked bag for you and up to four companions on your reservation, plus dedicated concierge service. You won’t have to pay any foreign transaction fees, either.

Best For Bonus Offers: Barclays AAdvantage Aviator Business Mastercard

Barclays AAdvantage Aviator Business Mastercard



Compare

Annual Fee:


$95

 

Purchase APR:


18.24% to 27.24%, Variable

The AAdvantage Aviator Business Mastercard is an American Airlines co-branded business credit card issued by Barclays.

Compared to the CitiBusiness card, this Barclays AA business credit card has a bonus offer that is quite easy to obtain. With just $1,000 in spending in your first 90 days, you’ll get 60,000 AAdvantage bonus miles. Most businesses in the market for a business travel card should be able to hit this threshold without much problem.

While the $95 annual fee is not waived for the first year, you’ll be accruing benefits that will exceed this if you do a significant amount of business travel. Not only will you earn double miles on all AA purchases, but you’ll also earn $3,000 Elite Qualifying Dollars after spending $25,000 on purchases each calendar year. These Elite Qualifying Dollars boost your status in the AAdvantage program when you earn them, entitling you to more and better travel perks.

Other card benefits include a 5% bonus on your miles earned every year after your account anniversary date based on the total number of miles earned using your card, a free checked bag + preferred boarding for you and four companions, complimentary employee cards, and a Companion Certificate for a guest, worth $99, which you’ll get each year after your account anniversary after spending $30,000 or more on eligible purchases.

Final Thoughts

To reiterate a point I made earlier, American Airlines is the world’s largest airline. Therefore, AAdvantage miles are going to be more useful for more people than just about any other airline’s proprietary miles. The American Airlines credit cards we’ve detailed here can help you a) earn AAdvantage points on your flights to go towards further AA travel and b) gain access to a variety of different travel benefits and points-earning spending categories.

If you’re still looking around for the ideal credit card for your needs, check out these links!

  • Best airline credit cards for businesses
  • Best business credit cards for travel
  • Best free credit score sites

The post The Best Credit Cards Offered By American Airlines appeared first on Merchant Maverick.

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Best Fuel Cards For Truckers And Trucking Companies

best fuel cards for truckers

Fuel cards (also known as fleet cards) are unique payment instruments designed to help trucking companies save money on the cost of fuel and maintenance as well as monitor their workforce’s spending. These cards are accepted by fuel vendors that comprise the network of locations that accept the card in question. Generally, these networks will cover over 10,000 gas stations nationwide, though a few such networks feature hundreds of thousands of individual gas stations.

Let’s take a closer look at the fuel cards that best fit your trucking business.

Best for Fuel card
No monthly charges ExxonMobil Business Fleet Card
Small & mid-size companies WEX FlexCard
National coverage Shell Fleet Navigator Card
Rewards Fuelman Advantage Platinum Mastercard

Best For No Monthly Charges

ExxonMobil Business Fleet Card


ExxonMobil Business Fleet Card
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Annual Fee:


$0

 

Purchase APR:


N/A (charge card)

The ExxonMobil Business Fleet card offers a rebate of up to 6 cents per gallon on your fleet’s fuel purchases depending on the total gallons purchased per billing period. Additionally, there are no monthly charges associated with the card and no setup fees.

The ExxonMobil Business Fleet card’s rebate structure is as follows:

  • Less than 500 gallons purchased during billing period =  1¢ per gallon
  • 500 to 3,999 gallons purchased = 3¢ per gallon
  • 4,000 to 6,999 gallons purchased = 4¢ per gallon
  • 7,000 to 9,999 gallons purchased = 5¢ per gallon
  • 10,000+ gallons purchased = 6¢ per gallon

The ExxonMobil Business Fleet Card is a charge card. As such, the card doesn’t carry an APR since you can’t carry a balance from month-to-month.

With the ExxonMobil Business Fleet card, you’ll be able to view all of the following from your online account:

  • Card and driver detail
  • Payment history
  • Available credit
  • Manage invoices and payments
  • Set restrictions on purchase types
  • Set limits for transactions, gallons, and dollar amounts
  • Set specific limits for time-of-day and day-of-week
  • Receive notifications when expenses fall outside your company policies

One word of caution: This card is only good at the 10,000 Exxon and Mobil stations in the US. These stations are most prevalent in the eastern US.

Best For Small & Mid-Size Companies

WEX FlexCard


WEX FlexCard
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Annual Fee:


$24 per card

 

Purchase APR:


N/A

For a fuel card that will both help you save on fuel and cover fuel purchases nearly everywhere your fleet goes, check out the WEX FlexCard.

Like the ExxonMobil Business Fleet Card, the WEX FlexCard is a charge card — but unlike the ExxonMobil card, the WEX FlexCard allows you to carry a balance for up to 26 days. And while the FlexCard’s 3¢ rebate on every gallon of fuel purchased falls short of the maximum rate of the ExxonMobil card, it equals or exceeds said rate if you purchase less than 4,000 gallons of fuel per billing period. As such, it’s a great fuel card for small and mid-sized fleets.

The WEX FlexCard is accepted at over 90% of fuel stations nationwide. This comes out to over 160,000 US refueling locations and 45,000 US service locations.

The Wex FlexCard does carry a monthly fee of $2 per card, though this shouldn’t put that big of a dent in your profits.

In addition to the above features, WEX’s fleet management and fuel management services can, when used in tandem, help you save even more on fuel — up to 15% by the company’s estimation.

Best For National Coverage

Shell Fleet Navigator Card


Shell Fleet Navigator Card
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Annual Fee:


Unspecified “limited fees”

 

Purchase APR:


23.00%, Variable

If you’re looking for the fuel card with the maximum possible coverage, you’d do well to investigate the Shell Fleet Navigator Card.

This fuel card is accepted at fully 95% of gas stations across the US, including all 14,000+ Shell and Jiffy Lube locations. You’re exceedingly unlikely to be left high and dry by the Shell Fleet Navigator Card.

The card comes with spending controls and expense management systems on par with every other fuel card out there. What’s more, the Shell Fleet Navigator card is not a charge card. Instead, the card is akin to a traditional credit card in that you can carry a balance from month-to-month.

The Shell Fleet Navigator Card also offers a rebate of up to 5 cents per gallon of fuel purchased each billing cycle depending on the amount spent. Unfortunately, Shell doesn’t disclose the amount of fuel per month you need to purchase before the 5 cent rate takes effect. Likewise, while the card doesn’t officially carry an annual fee, Shell states that the card may carry “limited fees” — though these fees are not detailed by the company.

Best For Rewards

Fuelman Advantage Platinum Mastercard


Fuelman Advantage Platinum Mastercard
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Annual Fee:


$0

 

Purchase APR:


N/A

The Fuelman Advantage Platinum Mastercard is another card with near total US coverage — you can use this card at any location that accepts Mastercard. But that’s just the beginning of the benefits you’ll get from using this card. (I like to think these cards are named for someone who just happens to be named Fuelman)

With this Fuelman card, you’ll get up to 3¢ per gallon in rebates on your fuel purchases depending on the volume of fuel you purchase each month (sadly the exact volume/rate data is not provided by the company) and an additional 2-3¢ per gallon when you use gas stations that are a part of the Fuelman Discount Network.

This discount network will also get you a 3 5% rebate on purchases at Firestone and Tires Plus Retail Locations.

This card is a charge card and it carries no annual fee.

Best Prepaid Fuel Cards

Let’s change gears here (get it?) and discuss prepaid fuel cards. Now, a prepaid fuel card is not the same thing as an actual fuel card. Essentially, a prepaid fuel card is just a gift card that can be used at a gas station, and as such shares little in common with either fuel cards or credit cards. Nonetheless, prepaid fuel cards can be quite useful for the company whose operations involve a degree of road travel, and, as such, I thought I should mention them here. These cards aren’t for mid-size to large trucking companies.

Shell Refillable Card

The Shell Refillable Card can be used at all Shell locations. Up to $300 can be loaded onto the card at one time. You can track the balance and your spending online.

If your company’s driving needs are limited and you want to make sure only fuel is purchased on the company dime, consider using the Shell Refillable Card.

ARCO Prepaid Fuel Card

The ARCO Prepaid Fuel Card is nearly identical to the Shell Refillable Card, except you use it at ARCO stations. It is a good prepaid gas card to use on the west coast where most ARCO stations are located.

If you’re a west coast company with limited driving needs, you might want to give ARCO Prepaid Fuel cards a look.

Are Fuel Cards Worth It?

Let’s move on to the larger question of whether or not fuel cards are worth getting in the first place.

If your business uses two or more company vehicles for travel and your company purchases over 1,000 gallons of fuel each month, it may be worth it to get a fuel card. This is true for the following reasons:

  • Fuel cards come with in-depth purchasing controls to ensure your employees are using the company card for driving-related expenses only
  • Advanced analytics can improve your drivers’ efficiency
  • Monthly/annual fees tend to be small or nonexistent
  • Save money, both on gas purchases and on repair/maintenance costs
  • Advanced GPS apps that point the way toward in-network gas stations and service centers

Of course, the fact that fuel cards can only be used to purchase fuel and repair/maintenance services means that fuel cards are much less flexible than credit cards. Additionally, rewards programs associated with fuel cards tend to be more limited than those of credit cards, as only certain gas stations participate in said rewards programs.

Also, consider the fact that most fuel cards are charge cards. This means you won’t be able to carry a balance from month-to-month, giving you less leeway when paying your bills. Also, the fuel cards that do allow you to carry a balance never come with an introductory 0% APR offer. In fact, fuel cards just about never offer any signup bonuses.

What To Look For In A Fuel Card

Here’s what you need to keep in mind when looking for a fuel card:

  • Get a card that fits your location — Many fuel cards can only be used at certain gas station chains or within networks that cover certain regions of the country and not others. Look into exactly where a fuel card can be used before deciding on one.
  • Get a card that fits the amount of fuel you purchase each month — Many fuel cards offer rebates on fuel purchases, but these rebates are often tied to how much fuel your company buys each month. Try to determine how much fuel per month your company will be using before getting a fuel card. This way, you can find the card with a rebate program that best caters to your fuel “sweet spot.”
  • Understand how the fuel pricing works when considering a fuel card — Some fuel cards allow you to batch your fuel purchases after a certain length of time. This means you may be able to pay less than the price listed at the pump, but this pricing scheme can also come with its own fees and requirements. Be sure to understand how pricing works before obtaining your fuel card.

Final Thoughts

Trucking companies have their own particular financing needs, just like any specialty industry. The fuel card is one of the tools by which your business can save on the cost of fuel and keep employee spending under control.

To learn more about how to set up your trucking business for growth, let Merchant Maverick lend you a hand.

  • Best business loans for trucking companies
  • Best free credit score sites
  • How to improve your score

The post Best Fuel Cards For Truckers And Trucking Companies appeared first on Merchant Maverick.

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Lowe’s Credit Cards VS Home Depot Credit Cards – Which Is Right For Your Business?

Lowe’s and Home Depot are two of the biggest home improvement juggernauts. Like many big box stores, they both offer an array of co-branded credit cards.

These cards give you rewards or pay lower interest rates when you buy at either store. This makes them appealing options if you frequent either Lowe’s or Home Depot. Should you have both stores nearby, selecting the right card could ultimately save your business a decent amount of money.

Ready to find out the best Lowe’s or Home Depot options for your business? Read through to find out!

Best Standard Credit Card: Lowe’s Business Rewards Card From American Express

Lowe’s Business Rewards Card from American Express



Compare

Annual Fee:


$0

 

Purchase APR:


17.99% – 26.99%, Variable

For businesses that shop frequently at either Lowe’s or Home Depot, but need a card that can be used elsewhere as well, there’s only one choice: Lowe’s Business Rewards Card From American Express. That’s because all of Home Depot’s cards can only be used in-store, and the rest of Lowe’s offerings can only be used in-store, too.

This Amex card features three points per dollar spent at restaurants and U.S.-based office supply stores, and on wireless telephone services purchased straight from U.S. service providers. You’ll then collect two points per dollar spent on Lowe’s purchases and one point per dollar on everything else. On top of those rewards, you’ll also get 5% off when buying at Lowe’s—effectively giving you 7% back when buying from the home improvement store.

Once you get your rewards, you’ll be able to redeem them for Lowe’s or American Express gift cards. Besides the base rewards scheme, this card lets you snag 5,000 bonus points after you spend $100 in your first 30 days.

You’ll also get access to standard credit card features. These include employee cards, an extended warranty of up to two years, purchase protection against theft and damage, and travel insurance. Additional bonuses include no annual fee, although there is a foreign transaction fee of 2.7%.

Best Store Card: Lowe’s Advantage Card

Lowe’s Advantage Card


Lowe’s Advantage Card
Compare

Annual Fee:


$0

 

Purchase APR:


26.99%, Variable

When it comes to a basic in-store card, Lowe’s takes the cake again. The Advantage Card nets you 5% off eligible Lowe’s purchases as its base rewards feature. This discount cannot be used in combination with coupons, price-matching, or various other discounts, including military and employee ones.

You can also opt out of the 5% discount and into two different special financing options. The first financing method scores you six months 0% APR on purchases above $299.

Lowe’s second option (called “project financing”) enables special financing on purchases above $2,000. Here’s its payment table:

  • 36 fixed monthly payments at 3.99% APR
  • 60 fixed monthly payments at 5.99% APR
  • 84 fixed monthly payments at 7.99% APR

If either financing option is selected, the 5% discount will be voided. With this in mind, the financing routes should only be used when necessary. Note that despite these special financing rates, the Advantage Card’s standard APR sits rather high.

Also, this is not marketed as a business-specific card; however, using a personal card for business can still be an excellent option.

Best Rewards Program: Lowe’s

Keeping with the theme, Lowe’s has the best overall rewards program. The reason for this is simple: every Lowe’s card features—at the bare minimum—5% off every purchase made with Lowe’s. Home Depot, meanwhile, either offers a convoluted gas discount with their Commercial Account Credit Card and Commercial Revolving Charge Card or no rewards at all.

Besides that 5% off, Lowe’s includes additional rewards with their American Express co-branded business card. This means that the Business Rewards Card can ultimately collect up to 7% cash back if you’re using it at Lowe’s. This rate is very impressive and is ultimately one of the best cash back rates across all credit cards.

Home Depot’s lone rewards program (bundled with the Commercial Account and Commercial Revolving cards) features a $0.10 per gallon savings when you fuel up at Shell and other select gas stations for every $100 purchased at Home Depot. Because you’re able to buy up to 20 gallons of gas with the savings in effect, you essentially get 2% cash back earmarked for gas.

Best For A Large Purchase: Home Depot Project Loan Card

Home Depot Project Loan Card


Home Depot Project Loan Card
Compare

Annual Fee:


$0

 

Purchase APR:


7.99%, Fixed

While Lowe’s leads the way in most categories, Home Depot still has one trick up its sleeve. That trick comes in the form of their Project Loan Card.

Aimed at those working on large projects, this card is technically a loan. You’ll be able to receive a loan between $2,500 and $55,000. It offers a fixed APR of 7.99%. You’ll have 84 months to pay off the loan and can pay in-full early without penalty.

Once approved for the Project Loan Card, you’ll have a six-month window to buy products or installation services. There are no annual fees included with this card. However, because it is ultimately a loan, you won’t score any rewards like you might with a regular credit card.

Best APR: Lowe’s Advantage Card

Lowe’s Advantage Card


Lowe’s Advantage Card
Compare

Annual Fee:


$0

 

Purchase APR:


26.99%, Variable

For the best APR, we come back to the Lowe’s Advantage Card. While its standard APR is higher than most cards, the special financing attached with this card sets it apart.

As mentioned earlier, you’re able to forgo the card’s 5% discount on Lowe’s purchases and instead choose one of two financing options. The initial option grants you six months 0% APR on purchases above $299.

For the second option, you can nab special financing on purchases at Lowe’s that are above $2,000. Its rates and time frames are as follows:

  • 36 fixed monthly payments at 3.99% APR
  • 60 fixed monthly payments at 5.99% APR
  • 84 fixed monthly payments at 7.99% APR

Other cards may offer better standard interest rates. However—because of its pair of options—the Lowe’s Advantage Card makes a great tool for those making a large hardware purchase and needing to carry a balance.

Final Thoughts

All told, Lowe’s generally offers the better cards. Between higher reward rates and more appealing APRs, Lowe’s cards are simply more appetizing. However, Home Depot still has an excellent option if you need a larger loan for a project.

Didn’t find a card you’re looking for? Get a bigger picture on all of Lowe’s credit cards. Or take a peek at Home Depot’s offerings.

The post Lowe’s Credit Cards VS Home Depot Credit Cards – Which Is Right For Your Business? appeared first on Merchant Maverick.

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