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Last updated on March 11th, 2021
Childrens Miracle Network Business Visa Platinum
- Regular Purchase APR 9.8% to 12.25% variable based on creditworthiness
- Balance Transfer APR 9.8% to 12.25% variable based on creditworthiness
- Cash Advance APR 9.8% to 12.25% variable based on creditworthiness
- 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
- Processing Network Visa
- No annual fee
- No balance transfer of cash advance fees
- Help the Children's Miracle Network with every transaction
- Regular Purchase APR: 9.8% to 12.25% variable based on creditworthiness
- Balance Transfer APR: 9.8% to 12.25% variable based on creditworthiness
- Cash Advance APR: 9.8% to 12.25% variable based on creditworthiness
- Foreign Transaction Fee: 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $37
- Return Payment Penalty Fee: Up to $25
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At a Glance
The Children’s Miracle Network Business Visa Platinum Card from CAMPUS USA Credit Union is a charitable business credit card that offers far more than regular donations. Part of every transaction is donated to the Children’s Miracle Network, with over $2 million donated to date through the business and personal versions of this card. The card also offers an impressively low fixed APR, no fees for balance transfers or cash advances, and no annual fee.
Ideal for Those Who:
- Want a business card that gives back to a worthy cause
- Plan to carry a balance and want a card that makes that as easy as possible
- Don’t want to pay an annual fee
CAMPUS Children’s Miracle Network Business Visa Platinum Card Review
CAMPUS USA Credit Union is a Gainesville, Florida-based credit union that is open to residents of the 12 counties the association serves, employees of the University of Florida or UF Health, as well as their families. The credit union is also open to those who are members of AAA South, Marion County Humane Society, the Matheson Historical Society, or the University of Florida Alumni Association, as well as their immediate family members.
While employees with the University of Florida or UF Health may not be the intended targets for a business card, the card is a good choice for those who live within the counties that the credit union serves, as well as those previously mentioned employees that may have a side business, and want the purchase protections that come with a business Visa card.
What Is the Children’s Miracle Network?
The Children’s Miracle Network (CMN) is a non-profit charitable organization that raises money for children’s hospitals and medical research across the United States.
CAMPUS USA’s CAMPUS Children’s Miracle Network Card works in conjunction with UF Health Shands Children’s Hospital, which treats over 16,000 children with trauma, 2,000 kids with cancer, 900 babies in the NICU, and performs over 2,300 surgeries on kids every day.
While the charity also raises funds through major corporate partners, like Walmart, Costco, Wawa, and more, there is always an urgent need for funds – and that’s where CAMPUS USA cardholders come in to play.
Help Children’s Miracle Network with Every Purchase
The Children’s Miracle Network Business Visa Platinum Card donates a portion of every purchase towards the Children’s Miracle Network. According to CAMPUS USA, this donation is made even if the account pays their entire statement balance each month, which is nice.
While CAMPUS does not make explicit the exact amount donated to CMN with every purchase, it is known that, like with other charity credit cards, the donation comes from the interchange fee. The interchange fee is the charge paid between two banks for the acceptance of a credit card transaction. Credit card interchange fees vary, but the amount is typically somewhere between 1.5% to 2% of the transaction, so the actual donation is based on that figure.
The likely figure for what is donated is probably somewhere around 0.08% of the transaction, which doesn’t sound like a lot, but given the sheer volume of transactions that usually occur on business credit cards, that sum can quickly grow.
Through both the personal and business versions of the card, CAMPUS USA has donated over $2 million to the charity since the program’s inception in 2009. That means regardless of the actual donation the card makes a real difference to the Children’s Miracle Network and the work it accomplishes.
Companies Also Benefit from a Fixed APR
The NMN Business Card benefits from a fixed APR on purchases, balance transfers, and cash advances. Fixed-rate cards offer a steady interest rate, which many companies find to be preferable to a variable rate card.
Variable-rate cards change with the Prime Rate, meaning they may fluctuate downwards or upwards, depending on the Federal Reserve. Variable rates, therefore, may offer savings for a company, but could also harm them should rates increase.
CAMPUS USA’s fixed-rate APR for this card varies based on creditworthiness, but for those with an excellent credit score, the regular rate will be less than 10%. Even those with less than perfect credit scores can expect a rate of around 12%, which is still extremely competitive.
Low APR is critical for a business card, as companies typically place a lot of spend on their cards, resulting in carrying a balance. The interest rate with the Children’s Miracle Network Business Card makes carrying a balance a breeze and can help companies stagger purchases over several months if needed.
This is also facilitated by CAMPUS’ 3% minimum payment on each statement balance. If, for example, your company put $10,000 in purchases on the card in one statement period, only $300 would be needed as payment. While this obviously isn’t the ideal way to operate, it does provide the financial breathing room companies may require from time to time.
The CAMPUS USA Business Card Application Process
As with other lenders, there are requirements businesses must meet before they can secure a loan, such as a business credit card, from CAMPUS USA Credit Union.
Applicants are required to have at least three years’ worth of tax returns for their business and must complete a financial statement before getting in touch with the credit union.
CAMPUS requires that any individual with at least 20% equity within the company applying for the loan product complete a personal statement form and provide at least three years of tax records.
Should You Apply for the Children’s Miracle Network Business Visa Platinum Card?
Overall, the Children’s Miracle Network Business Visa Platinum Card from CAMPUS USA is a decent business and charity credit card. While the donation made with each purchase (likely to be around 0.08% per transaction) isn’t exceptional, it is nice to see a business card that gives back to charities. Even sweeter is that, to date, CAMPUS has donated over two million dollars through the cards.
The Children’s Miracle Network Business Visa Platinum Card has proven time and time again to get significant sums to a worthy cause – and for CAMPUS USA Credit Union members, it’s an excellent option to help their company – and the children at UF Health Shands Children’s Hospital at the same time.