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Verdict: The Bank of the West Business Rewards MasterCard allows business owners to earn rewards points for every purchase they make. At the same time, the card provides automatic rebates for such important expenses as gas and maintenance costs. The purchase interest rate isn’t the lowest, but otherwise, this is a solid entry in the business credit card field.
Overview: You can earn unlimited rewards with this card. Bank of the West imposes no annual cap on how many rewards points that you can earn, and none of the points that you do nab come with an expiration date. The card also allows you to better track your business spending, separating businesses expenses from personal spending on your monthly account statement.
How This Card Works: After you earn enough rewards points, you can redeem them for gift certificates, merchandise, travel benefits and hotel stays. You can browse the wide variety of rewards available to you online with the Bank of the West Rewards catalog.
Travel and Shopping Benefits: You’ll earn one rewards point for every dollar that you charge with your card. You’ll also earn automatic discounts on gasoline and maintenance products, an important benefit for small business owners who are struggling to hold onto every dollar that they can. To get these savings, you’ll have to enroll in the MasterCard Easy Savings Program. The card also comes with protection against fraudulent purchases and rental car insurance.
Fees: The purchase interest rate with this card is 16.99 percent. The card also comes with an introductory interest rate of 0 percent on all new purchases for the first six billing cycles after you activate your account. Be careful to pay your bills on time, though; the card also assesses a high penalty interest rate of 29.99 percent if your payment comes in more than 60 days past the payment due date. The annual fee with this card is $35. Cash advances cost $10 or 3 percent of the advance amount, whichever is higher. Fees for late payments, returned payments or going over your credit limit are all $35.
- Straightforward rewards program.
- You can redeem rewards points for wide variety of merchandise and services.
- Statement separates business and personal expenses.
- Annual fee of $35.
- Purchase interest rate is a high 16.99 percent.
- Penalty interest rate of 29.99 percent.