Last updated on September 19th, 2023
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BrightStar Business Elite Rewards Credit Card
BrightStar Business Elite Rewards Credit Card
- 14.99% to 18% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 14.99% to 18% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- See Terms Cash Advance APR
- 0% for the first 12 months Intro Purchase APR
At a Glance
The BrightStar Business Elite Rewards Card lets companies earn rewards while enjoying a competitive, low APR. The card, from BrightStar Credit Union in Florida, features no annual fee, no penalty APR, and no fees on balance transfers.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Earn 1X points on every purchase
- 0% Intro APR for the first 12 months on purchases
- 3.88% intro APR on balance transfers for 12 months
- No penalty fees and no balance transfer fees
- Intro Purchase APR: 0% for the first 12 months
- Regular Purchase APR: 14.99% to 18% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 3.99% for the first 12 months
- Balance Transfer APR: 14.99% to 18% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: See Terms
- Foreign Transaction Fee: Up to 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $35
- Return Payment Penalty Fee: Up to $35
- You already bank with BrightStar, or operate a Florida-based company
- You want to earn basic rewards while enjoying a low APR
- You want a card they can use to invest in the company immediately, then pay off those purchases over a year
- You do't want to pay an annual fee
BrightStar Business Elite Rewards Credit Card Review
The BrightStar Business Elite Rewards Credit Card offers Florida companies the everyday purchasing power they require, and the low rates they want, all in one package. The no annual fee card also comes with basic rewards on every purchase and healthy credit limits of up to $50,000.
Who Can Join BrightStar Credit Union?
BrightStar Credit Union is a Florida-based credit union. As such, BrightStar restricts membership. The credit union currently accepts new members from the following Florida counties:
- Palm Beach
- St. Lucie
- Columbia County
- Indian River
- Orange County
Membership is open to those who live or work in the above counties, as well as their family members.
How to Earn and Redeem Rewards
Since the BrightStar Business Elite Rewards Card is a rewards business card, it’s probably best to touch upon the rewards aspect of the card first. The card earns a single point for every dollar spent on purchases.
Points apply to the Scorecard Rewards Program. While the program isn’t as lucrative as those found with Chase, Wells Fargo, or Capital One, it does offer the same types of redemption options. These award options include cash back as statement credits or direct deposits into BrightStar accounts, gift cards from leading brands and merchants, and travel rewards. Travel options include flights, hotels, and car rentals.
Although the Scorecard Rewards Program isn’t the most lucrative, companies can supercharge their points through additional employee cards. This can increase the value, as more authorized users mean more points. Keep in mind, however, that Scorecard points after one year. This is a significant disappointment, but with daily spending, a decent tally of rewards is achievable.
Lengthy 0% Intro APR Period
The BrightStar Business Elite Rewards Card comes with an excellent interest-free introductory period on purchases. New accounts receive 0% intro APR for the first year. This lengthy period provides companies with the purchasing power and breathing space to invest in their business and pay the balance off over the next year.
Introductory Balance Transfer Offer
The card also offers companies a special, low, initial rate on balance transfers. For the first 12 months, businesses can transfer existing card balances to their new account and pay just 3.99% APR. Sure, it’s not 0% intro APR, but for a 12-month period, the 3.99% rate with BrightStar is solid and reliable.
There are business cards that offer 0% intro APR on balance transfers for the same period. One example is the M&T Business Visa. That card, however, also charges a 4% balance transfer fee. BrightStar, on the other hand, has no balance transfer fees. This doesn’t make up for the lack of an interest-free period, but it does lessen the blow.
A Competitive Everyday APR
BrightStar Business Elite Rewards Card offers a competitive APR once the introductory periods end. The rate isn’t spectacular, but is comparable with other cards, like the M&T Bank Business Visa or the Bank of America Platinum Plus Business Mastercard. The rate, around 12%, is lower than found with many business rewards cards. That said, the rewards on offer with the card aren’t spectacular enough to make the BrightStar Business Card a can’t-miss proposition.
Other Card Features
Since the card is a business Visa, it includes many of the perks companies can expect from a Visa credit card. Chief among these benefits is Visa SavingsEdge, which lets companies save on purchases with hundreds of merchants. All they need to do is enroll for free.
Other BrightStar Business Elite Rewards Credit Card features include:
- Visa extended warranty protection
- Auto Rental Collision Damage Waiver
- Emergency card replacement and cash disbursement
- Visa Zero Liability
Should You Apply for the BrightStar Business Elite Rewards Credit Card?
The BrightStar Business Elite Rewards Credit Card is a business rewards credit card that struggles due to the limited points and lack of a 0% intro APR period on balance transfers. The 12 months interest-free on purchases is great, but the 3.99% for the first year on balance transfers is less spectacular. This is especially true when compared to other cards that do offer no interest on transfers.
The M&T Business Visa, for instance, comes with 0% intro APR for six months. Sure, the BrightStar Business Rewards Card doesn’t charge a balance transfer fee, which the M&T Card does. But, this only recoups part of the savings the M&T Card offers.
The fact that the BrightStar Card offers points is also irrelevant. The Business Rewards Preferred Card from Ocean Bank provides the same 1X points as the BrightStar Card. While that card charges a 4% balance transfer fee, it also benefits from 0% intro APR on purchases and balance transfers for six months.
Ultimately, the BrightStar Business Elite Rewards is a decent choice for companies that already bank with BrightStar Credit Union. For non-members, however, there may be better offers elsewhere – both locally and from national lenders.