FlexPerks Business Select Visa Credit Card Review | CreditShout

FlexPerks Business Select Visa Credit Card Review

By Dan Rafter / January 11, 2011

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Verdict: The FlexPerks Business Select Visa credit card offers a number of perks for business owners. Unfortunately, it also comes with a fairly significant drawback: While most rewards cards earn you at least one rewards point for every dollar that you charge, the FlexPerks Business Select Visa does not. Instead, you’ll have to charge $2 to earn just one point. This negative knocks this card out of the upper echelon of business credit cards.

Overview: The FlexPerks Business Select Visa card is a member of the US Bank family of business cards. There are certain benefits that can help business owners: Owners, for instance, can keep business and personal expenses separate. And they can pool the rewards points of themselves and their employees who also have cards on their FlexPerks account to earn rewards points in less time.

How This Card Works: Cardholders can redeem their rewards points for a wide variety of items, everything from free travel and gift cards to merchandise or credits on their account statements.

Travel and Shopping Benefits: Cardholders will earn rewards point for every $2 that they charge on their FlexPerks Business Select Visa card. They’ll also receive 5,000 bonus rewards points once they charge their first $250 worth of purchases on the card.

Fees: The FlexPerks Business Select card comes with no annual fee for the first year after cardholders activate their account. It’s pretty easy, too, for these cardholders to never pay an annual fee on this card. All they have to do is charge at least one purchase on the card every year. If they fail to do this, they will be assessed an annual fee of $25. The purchase interest rate varies according to the creditworthiness of cardholders, with those with the highest credit scores earning a rate of 11.99 percent. Those with the lowest scores will be tagged with a purchase interest rate of as much as 17.99 percent. The card comes with an initial offer of 0 percent interest on balance transfers. This offer remains in place for six months after cardholders activate their accounts. Cash advances cost either $10 or 4 percent of the advance amount, whichever is higher. The card’s returned-payment fee stands at $35, while its over-the-limit fee is $39. Late-payment fees run up to $39 depending on the card balance.

Pros:

  • Cardholders earn rewards points with every purchase.
  • Cardholders can redeem rewards points for a variety of items.
  • It’s easy to avoid ever paying an annual fee.

Cons:

  • Have to charge $2 to earn one rewards point.
  • Purchase interest rate can soar to 17.99 percent depending on cardholders’ credit score.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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