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Verdict: With the Bank of the West Business MasterCard, you’ll be exchanging rewards programs for the chance to nab a lower purchase interest rate. This same bank’s Business Rewards MasterCard comes with a generous rewards program. This version of the bank’s business credit card doesn’t; but it also doesn’t come with an annual fee or a higher interest rate. You’ll have to decide what is important: a lower purchase interest rate or a rewards program.
Overview: Though this business card doesn’t come with a rewards program, it does give you the chance to earn automatic rebates on gasoline purchases and maintenance. To take advantage of these savings, you’ll have to sign up with the MasterCard Easy Savings Program.
How This Card Works: Like many credit cards targeted to business owners, this card breaks down your spending into two business and personal categories on your credit card statement. This makes it easier for cardholders to track just how much they’re spending to keep their businesses in operation.
Travel and Shopping Benefits: As a basic business credit card, the Bank of the West Business MasterCard doesn’t come with any lucrative rewards or cash-back programs. You won’t be able to earn free miles with this card, either. This card does come with protection against unwanted purchases and travel assistance services. You can also add your photo to the card as an extra protection against unauthorized purchases.
Fees: The card comes with an introductory offer of 0 percent interest on all new purchases for the first six billing cycles after you activate your account. After this period ends, your purchase interest rate will rise to 14.99 percent. If your payment becomes late by more than 60 days, Bank of the West will assess a hefty penalty interest rate of 29.99 percent on your account. You’ll be stuck with that rate until you make six consecutive payments on time. Cash advances cost $10 or 3 percent of the advance amount, whichever is higher. Late-payment, returned-payment and over-the-limit fees all cost $35. There is no annual fee with this card.
- No annual fee.
- Reasonable purchase interest rate.
- Protection against unauthorized purchases.
- Penalty interest rate of 29.99 percent.
- No rewards programs or cash-back offers.