| Last updated on October 27th, 2023
BOK Financial Visa® Business Real Rewards Card
BOK Financial Visa® Business Real Rewards Card
- 13.99% to 22.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 13.99% to 22.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 23.99% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Earn 1.5x points on all your purchases
- 2,500 bonus points after first purchase
- 0% introductory APR for 6 months on purchases and balance transfers
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months on transfers made within 186 days from account opening date
- Balance Transfer APR: 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 23.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater
- Penalty APR: 28.99% variable based on the Prime Rate
- Foreign Transaction Fee: Up to 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $39
- Return Payment Penalty Fee: $35
- Over Limit Penalty Fee: $39
At a Glance:
The BOK Financial Visa® Business Real Rewards Card earns cardholders 1.5 points for every dollar they spend. New account holders can earn an additional 2,500 points on their first purchase. Additionally, new cardholders can benefit from 0% APR for 6 months on purchases and balance transfers. There’s also no annual fee.
Ideal for Those Who:
- Don’t want to pay an annual fee to use their credit cards
- Want to earn 1.5x points for every dollar they spend
- Like having 6 months of 0% APR for purchases and balance transfers
- Want to pool employees’ points together for more rewards
BOK Financial Visa® Business Real Rewards Card Review
The Visa® Business Real Rewards Card from BOK Financial is a basic business rewards card that earns cardholders 1.5 points for every dollar they spend. There aren’t too many additional perks with this credit card.
However, new cardholders can take advantage of 0% APR for six months on purchases and balance transfers. Furthermore, cardholders never have to pay an annual fee for this card. Keep reading to find out if this card meets your business needs.
Earn Points on All Purchases
The BOK Financial Visa® Business Real Rewards Card features a straightforward rewards system. Cardholders earn the same amount of points for all their qualifying purchases. Unlike the Business Cash Card from BOK, you don’t have to worry about what kinds of purchases will earn you more or less points.
This makes the Real Rewards Card ideal for business owners whose businesses may not fit neatly into a box. If you need to buy a samovar, rent a baby elephant, and hire a singing window washer for your business, you never have to worry that your credit card won’t reward you points.
There are a few exceptions on purchases that earn you points, however. Most cards (this one included) won’t ever award you points for financial transactions like transferring a balance or taking out a cash advance.
This card, in particular, won’t earn you points on gambling transactions, either. These include buying casino chips/credits and purchasing lottery tickets. If your business involves treating clients to a night of gambling, you may want to consider another credit card that doesn’t have these restrictions.
There is no limit to how many points you can earn. However, you have 5 years to redeem your points once you have earned them.
Sign Up Bonus Points
The BOK financial Visa® Business Real Rewards Card lets you kick start your earning by rewarding you bonus points after you make your first purchase. You can buy anything at any dollar value with your new credit card and automatically earn 2,500 points.
Redeeming Your Points
Once you have earned enough points with your BOK financial Visa® Business Real Rewards Card, you can redeem them for merchandise or gift cards through the rewards catalog. Unfortunately, nobody can browse the rewards catalog until they have actually been approved for this credit card.
This makes it very difficult to see if there are any rewards you’d actually be interested in getting with your points. You also won’t know how many points you will need to earn in order to obtain merchandise or a gift card.
This isn’t rare, though. Many rewards cards are making their rewards catalogs secret for non-cardholders. It just makes it tough to determine whether the rewards are worth signing up for a credit card.
Redeeming Your Points for Money
Although you can’t peruse the BOK financial Visa® Business Real Rewards Card’s catalog of rewards, you can know how many points you need to receive cash back. Currently, each point is valued at $0.01.
When you earn 2,500 points, you can redeem those points for a $25 cash back reward. BOK Financial only issues cash rewards in increments of $25, so you must earn 2,500 points before you can redeem any points.
This means you will have to spend over $1,600 before you can earn your first rewards. You can choose to receive your rewards as a statement credit or as a cash deposit.
If you want a cash deposit, you will need to have a checking or savings account with BOK Financial. This isn’t necessary for statement credits.
While redeeming your points for merchandise or gift cards may be good for personal credit cards, the fact that you can redeem your points for cash works better for most business owners. You can use your cash rewards for whatever you want.
If you have several employees in your business, the BOK financial Visa® Business Real Rewards Card can let you give them all credit cards at no additional charge. Just to clarify, these aren’t additional accounts but rather extra credit cards for the same account.
This is particularly useful if you have employees who need to make purchases for your business. You have several billing options when you have multiple users on the account.
Your default setting is to have one central bill. This means that the primary account holder (usually the business owner) gets one bill with all the cards’ charge activities on it.
You can also opt for individual bills. This option issues bills to each credit card user within your account. Each bill outlines individual charges and requires each user to pay a separate bill. The primary account holder doesn’t get a consolidated bill
The best of both worlds is opting for a central bill with memo statements. This way, you get one bill with everyone’s charges on it, but each employee also gets a memo outlining his or her individual charges.
Depending on how your business is structured, the option to select a billing format can help you manage your business more efficiently.
0% APR on Purchases
The BOK Financial Visa® Business Real Rewards Card also offers new cardholders a promotional zero-interest period for any purchases they make. This period lasts for six months from the date that you open an account. After the six months are up, any unpaid balance on your card will automatically accrue interest.
This feature is particularly beneficial for business owners who need to make a lot of purchases (or a single large purchase) all at once. It gives them the opportunity to pay off their purchases over 6 months without having to pay anything extra.
If you factor in the fact that this card has no fees and lets you earn points, this card will basically pay you for using it within the first six months. You just need to remember to pay off your balance.
0% APR on Balance Transfers
The Visa® Business Real Rewards Card has a zero-interest promotion for balance transfers, too. However, this deal isn’t as attractive as 0% Apr on purchases. For starters, you have to pay a balance transfer fee with this card.
If you have an $8,000 balance you want to transfer, that means you’ll have to pay a $240 fee. Additionally, six months isn’t a lot of time to pay off a large credit card balance. That $8,000 balance will require you to make monthly payments of over $1,300.
This feature may only really benefit business owners with small credit card balances to transfer. Otherwise, you might find yourself short on cash trying to pay off that balance before it accrues interest.
Should You Apply for the BOK Financial Visa® Business Real Rewards Card?
This is a straightforward business rewards card that grants cardholders points that are slightly above the most basic one-to-one rate. There are more generous rewards cards for business owners, but these may limit you on the type of purchases you can make to earn more points.
This card is best for business owners who need flexibility. You can earn the same amount of points on any type of purchase in addition to having the freedom of redeeming your points how you see fit. You can also choose how you want to receive your bill.
The 0% APR offer on purchases can be attractive to new business owners who need to furnish an office or buy business supplies. However, the same cannot be said about the 0% introductory interest rate on balance transfers.
In the end, this is a basic card for business owners who need a credit card.
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