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Verdict: The Platinum Business Rewards card from Heartland Bank offers a two-tiered cash-back rewards program and one of the lowest purchase interest rates among business cards. It might not rank with some of the top-tier business cards — those that provide up to 5 percent cash back on certain purchases — but it is certainly a solid card to have in your wallet.
Overview: This card is not free to own: You’ll have to pay an annual fee of $75 to hold this card. However, with the rewards you can earn and the low purchase interest rate you’ll have, you might be able to pay for this annual fee rather quickly. You’ll have to look at your own spending habits to determine if the positives of this card outweigh the negative of having an annual fee.
How This Card Works: You’ll earn cash back on every purchase that you make with the Platinum Business Rewards card from Heartland Bank. You’ll receive a greater amount of cash back depending upon what type of purchase you make.
Travel and Shopping Benefits: You’ll receive 1 percent cash back on every dollar that you charge with your business card. However, if you use your card to shop at gas stations or restaurants or to pay for telecom expenses, you’ll receive 2 percent cash back. When you sign up for your card, you’ll receive enough points to turn into $25 cash.
Fees: The fees, specifically the purchase interest rate, is where the Platinum Rewards card from Heritage Bank stands out. The card comes with a rate of 10.25 percent, lower than what you’ll find with most business rewards cards. Other fees are fairly standard. Late-payment and returned-payment fees can run as high as $35, while cash advances cost $2 or 2.5 percent of each cash advance, up to $20.
- Flexible rewards program.
- Low purchase interest rate.
- $75 annual fee.
- Late- and returned-payment fees of up to $35.