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Last updated on September 23rd, 2021
California Bank & Trust AmaZing Rate for Business Visa® Card
California Bank & Trust AmaZing Rate for Business Visa® Card
Earn $300 on an Introductory Offer
- Regular Purchase APR 13.25% variable based on the Prime Rate
- Balance Transfer APR 13.25% variable based on the Prime Rate
- Cash Advance APR 22.24% variable based on the Prime Rate
- Annual Fee None
Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.Excellent , Good
- Intro Purchase APR 0% for 6 months from account opening date
- Processing Network Visa
- No annual fee
- 0% introductory APR on purchases and balance transfers for 6 months
- Enjoy a low fixed rate
- Earn $300 when you spend $5,000 in the first 90 days
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 13.25% variable based on the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months from account opening date
- Balance Transfer APR: 13.25% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each balance transfer, whichever is greater
- Cash Advance APR: 22.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $5 or 3% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: $10
- Return Payment Penalty Fee: $25
- Over Limit Penalty Fee: $10
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At a Glance
The California Bank & Trust AmaZing Rate for Business Visa® Card is a low APR business credit card that benefits from interest-free introductory periods on balance transfers and purchases, a decent sign-up bonus, and no annual fee.
Ideal for Those Who:
- Plan to use their new card to make at least $5,000 in purchases in the first 90 days
- Want to invest in their infrastructure and pay off those purchases with no interest over six months
- Want a versatile card that allows them to carry a balance
- Don’t want to pay an annual fee for their financing credit card
California Bank & Trust AmaZing Rate for Business Visa® Card Review
California Bank & Trust (CB&T) is a California-based financial institution that prides itself on offering exceptional customer service and quality credit card products for individuals and businesses alike. The California Bank & Trust AmaZing Rate for Business Visa® Card is true to this ethos. The card offers a great low APR, 0% introductory APR on balance transfers and purchases, and a rewards bonus for meeting a minimum spending requirement in the first 90 days.
A Great Low Fixed Rate
The California Bank & Trust AmaZing Rate for Business Visa® Card offers an extremely competitive APR for businesses that plan to use their card to carry a balance. Unlike some other business cards, which provide cards with a variable APR, CB&T offers a fixed interest rate, removing some of the worries that come with managing a company’s finances. That fixed rate, 7% + Prime, is exceptionally competitive and around 4% lower than can be found with a credit that matches the national average of low APR.
Introductory Interest-Free Period on Purchases and Balance Transfers
A great low APR needs an introductory interest-free period to provide the most value to businesses, and the CB&T AmaZing Rate Card provides two. New accounts benefit form 0% intro APR on both balance transfers and purchases for six months, making the card a reliable option for those that want to use their new card to pay down a smaller existing balance, or use their new-found financial power to finance an investment in their company.
The six months is good for financing a significant purchase, giving companies the ability to invest in their technologies or infrastructure – and then offset the costs over the next half of a year. For companies who need a longer intro APR period, two options to consider are the BMO Harris Business Platinum Mastercard (which comes with nine months interest-free on balance transfers and purchases) or the M&T Business Card (which boots this 0& intro APR to 12 months).
Why Carry a Balance?
Carrying a balance is an essential practice for many businesses, as cash flow is the lifeblood of all companies, regardless of size. The California Bank & Trust AmaZing Rate for Business Visa® Card gives smaller companies this flexibility, mainly through its introductory interest-free periods.
The flexibility of the card is further boosted by a decent cash advance APR of Prime Rate + 15.99%. This rate isn’t exceptional, as the typical APR for comparable cards is in the low-to-mid 20% range. Despite this, the rate is enticing enough to allow companies the freedom to make the advances they need, providing additional cash flow with a little sting in the tail at the same time.
Statement Credit Bonus
New CB&T Low Rate for Business accounts benefit from a special introductory offer of $300 for meeting spending requirements within the first 90 days. The spending requirement for this $500 bonus (worth 50,000 AmaZing Rewards points) is $5,000, which is a reasonably substantial spend for just three months.
Fortunately, businesses tend to place much more of their spending on credit card accounts that the vast majority of personal credit card users, so the $5,000 spend minimum isn’t an unrealistic target. Using the Low Rate Card to pay utilities or other regular bills will likely take a significant chunk out of the approximately $1,666 required each month – with additional employee cards reducing the remaining purchase requirement even further.
Additional Savings Through SavingsEdge
Another nice feature of the CB&T Business Credit Cards – including the AmaZing Low Rate Card – is the savings members get through Visa’s SavingsEdge Program. The program allows cardholders to enjoy extra savings at an impressive array of retailers, with no cost to join. Examples of savings include:
- Up to 5% savings with hotels, including La Quinta. Super 8, Wyndham, and more
- Up to 5% savings with dining brands such as Red Robin or Panda Express
- Savings with business solution brands, like Mail Chimp, Microsoft, Stamps.com, and more.
While this perk isn’t unique to CB&T, it is nonetheless a nice feature that adds value to the Low Rate Card.
Should You Apply for the California Bank & Trust AmaZing Rate for Business Visa® Card?
Carrying balances is an integral part of a business credit card, and the California Bank & Trust AmaZing Rate for Business Visa® Card does well. The regular APR is low enough to carry a balance, though this is buoyed even further by six months interest-free on both balance transfers and purchases.
The spending bonus with the card – $300 back after spending $5,000 on purchases within the first 90 days – isn’t the most exciting reward but does motivate companies to spend big on themselves. This nudge towards investment isn’t hurt by the intro period on purchases wither, giving companies ample time to pay down the balance without fear of extra interest.
The California Bank & Trust AmaZing Rate for Business Visa® Card is best suited for California companies that want a decent interest-free introductory period, a great rate, and the localized customer service that comes from a regional bank like CB&T. For those that can overlook the customer service aspect, however, there may be better offers out there, including those from BMO Harris, M&T Bank, and others.