Platinum Visa Business Credit Card From Bank of America Review | CreditShout

Platinum Visa Business Credit Card From Bank of America Review

By Dan Rafter / November 7, 2010

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Verdict: Depending on your credit score,the Platinum Visa Business Credit Card from Bank of America might be the perfect business card for you. If your score is high, your interest rate will be low. The card also comes with a number of perks, everything from a 0 percent introductory interest rate to features designed to make it easier to track your business’ expenses.

Overview: The Platinum Visa Business Credit Card is a solid card for small business owners. Not only does this card come with affordable interest rates — depending on your credit — but Bank of America makes it easy for you to add employee cards to your account. It’s also simple to set the spending limits on these additional cards.

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How This Card Works: Like most business cards, the Platinum Visa Business Credit Card is designed to make it easy for you to track the amount of money your business spends each month. Organization, of course, is one of the key traits of successful businesses. With this card, keeping on top of expenses is a simple process.

Travel and Shopping Benefits: You can add employee cards to your account at no extra fee. That’s an important benefit. You can also set individual credit limits on these extra cards, giving you control over how much money your most-trusted, and least-trusted, workers can spend.

The card also lets you download your transactions directly into QuickBooks for easier tracking. You have the option, too, of linking your card to your business checking account. This provides extra protection against overdrafts.

Fees: The Platinum Visa Business Credit Card comes with a low interest rate of 9.24 percent, if your credit is good enough. The rate can go has high as 20.24 percent if your credit scores are weak. The card also comes with an introductory interest rate of 0 percent for the first six billing cycles after you sign up.

Another bonus? The card comes with no annual fee.

Pros

  • Low interest rates depending on your creditworthiness.
  • No annual fee.
  • Can add employee cards at no extra fee.

Cons

  • Interest rate can go as high as 20.24 percent depending on your credit score.
  • Balance transfer fee of 4 percent.
  • Cash advance fee of 4 percent.
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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