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Last updated on March 16th, 2021
Liberty Bank Visa® Business Cash Card
Earn $25 Cash Back Bonus
- Regular Purchase APR 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 23.99% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Intro Purchase APR 0% for 6 months from account opening date
- Processing Network Visa
- No annual fee
- Earn 3% cash back on office supplies and telecommunications purchases
- Earn 2% cash back on restaurant and gas station purchases
- Earn 1% cash back on all other purchases
- Receive a $25 cash back bonus on your first purchase
- Enjoy 0% APR for 6 months on balance transfers and purchases
- 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 Liberty Bank Visa® Business Cash Card earns cardholders 3% cash back on office supplies and telecommunications purchases. Cardholders also earn 2% cash back on dining and gas and 1% cash back on everything else. As a bonus, new cardholders also receive $25 cash back on their first purchase. New cardholders can also take advantage of 0% APR for six months.
Ideal for Those Who:
- Don’t want to pay an annual fee
- Spend the most on office supplies and telecommunications for their business
- Want to earn cash back on their purchases
- Would like to take advantage of 0% APR for 6 months on purchases
- Would like to transfer a balance they intend to pay off in 6 months.
Liberty Bank Visa® Business Cash Card Review
The Visa® Business Cash Card from Liberty Bank is a great business credit card for those who prefer to receive their rewards as cash. There is no fiddling with secret rewards catalogs when you sign up for this credit card.
Furthermore, you earn the most cash on practical business purchases. Cardholders can earn 3% cash back on purchases at office supply stores, mobile and landline service, and cable and internet.
Even when you need to take a business lunch or drive to a meeting, you can earn 2% cash back on those expenses. All other purchases will earn you 1% cash back. What’s great about this cash back card is that there is no limit to how much you can earn.
On top of earning cash back, the Business Cash Card offers new cardholders a promotional interest rate on purchases. For six months from the date of opening an account, cardholders can take advantage of 0% APR on purchases and balance transfers.
All of these great features are available for no annual fee. Keep reading to learn more about this business credit card.
Why Cash Back Can Be Better for Your Business
When considering a business credit card like the Liberty Bank Visa® Business Cash Card, you may wonder whether it’s better to earn cash back or points. At first look, a rewards card that offers you points might seem like it gives you more options.
However, you should keep in mind that the majority of points systems are geared towards personal credit cards. As such, many of the items you can obtain for points may not be anything your business might need.
Additionally, many rewards catalogs are kept hidden from the public (including the one for Liberty Bank’s cards). There’s no knowing what is available for redemption until you actually sign up for the card. This can make it difficult to see if there is even anything you’d like from the rewards catalog.
With a cash back rewards card, you know exactly what kind of rewards you’ll receive. Moreover, you can put that money back into your business and spend it any way you want. You also don’t need to worry about trying to convert points in your head.
Earn Cash Back on Your Purchases
The Liberty Bank Visa® Business Cash Card earns you different amounts of cash back on different categories of purchases. In this regard, the card is similar to other options from BOK Financial and Bank of Missouri. The most you’ll earn is 3% cash back. This applies to purchases from office supplies stores in addition to cell phone, land, cable, and internet purchases.
It’s important to remember that you will only receive this amount of cash back if you purchase directly from a merchant whose business fits one of the above categories. As such, you may not earn 3% cash back if you buy office supplies from Amazon, for instance.
If you compare this feature with rewards features on some of Liberty Bank’s other business card options, the spending categories on this card make more sense to more businesses. Many businesses need to purchase office supplies and telecommunications services.
Even if these types of purchases don’t constitute the majority of your business expenses, there are other opportunities to earn cash back with this Visa® Business Card. For example, you can earn 2% cash back on purchases at restaurants and gas stations. This can be especially valuable if you conduct a lot of business at restaurants or use your car for your business.
All other types of purchases will earn you 1% cash back. This is the bare minimum that most (if not all) cash back cards offer customers. As such, it’s not an outstanding feature. If you have a non-traditional business, it may frustrate you that your necessary expenses won’t earn you the maximum amount of cash back.
If you have a restaurant business, for example, you may only ever earn 1% cash back on your purchases. This is something think about when selecting a business rewards card.
As an incentive to sign up for this card, new cardholders earn an extra $25 on their first purchase. What’s great about this offer is that there is no purchase minimum. If you only spend $1, you’re still eligible to receive this bonus.
Redeeming Your Cash Back
The Liberty Bank Visa® Business Cash Card doesn’t hand you cash right after you make a purchase. In fact, you won’t see any of the cash back until you actually redeem it. Don’t let the name “Cash Card” lead you to think otherwise.
At the end of your monthly billing cycle, Liberty Bank tallies up your net purchases to calculate your total cash back. You cash back appears as points on your account. You can continue racking up these points until you decide to redeem them.
There’s no limit to how much you can earn. However, your points are only valid for five years. After this period, any cash back you haven’t redeemed expires.
You have two redemption options with the Visa® Business Cash Card:
- Cash deposit
- Statement credit
If you want a cash deposit, you will need to have a Liberty Bank checking or savings account. You only have seven days from the date that you’re issued your points to redeem them for a cash deposit. You won’t lose your points if you don’t redeem them within this time. Rather, you’ll just have to wait until the end of your next monthly billing cycle.
If you want to redeem your cash back as a statement credit, you’ll have one to two months to redeem your points. Additionally, you don’t need to have a Liberty Bank checking or savings account for this option.
You should know that your initial $25 bonus won’t appear on your account until six to eight weeks after you have made your first purchase. As such, you might have to wait a couple of months before you can use those funds.
0% APR on Purchases
One of the great perks of the Liberty Bank Visa® Business Cash Card is that it offers cardholders a 0% introductory APR. For the first six months from the date of signing up, you can take advantage of 0% interest on your purchases.
This is an excellent feature for business owners who need to make a large purchase or several smaller purchases all at once. For new business owners, this feature can help them buy necessary equipment without having to pay extra in interest.
In order to take full advantage of this offer, you should make plans to pay off your purchases before the promotional period ends. For smaller purchases, this may not be much of a challenge. However, it may be harder to pay off very large purchases in only six months.
If you need to furnish an entire office, for instance, you may want to consider looking for another business card with a longer 0% APR period. The regular Visa® Business Card from Liberty Bank, for instance, offers 0% interest for 18 months.
0% APR on Balance Transfers
This Visa® Cash Card also offers an introductory 0% APR promotion on balance transfers. As with purchases, cardholders have six months to pay off any balance that they transfer over.
There is one major difference between the terms of this offer and the introductory purchase APR. For purchases, the six-month period begins on the date you sign up for this card. However, your six-month 0% APR period begins on the date of the transaction for balance transfers.
There is one restriction you should keep in mind, though. You only have 186 days from the date you open an account to transfer a balance and take advantage of 0% interest. Nevertheless, you can wait five months after receiving this credit card to transfer a balance and still benefit from six months of no interest on your transfer.
Should You Apply for the Liberty Bank Visa® Business Cash Card?
The Liberty Bank Visa® Business Cash Card gives business owners a little more freedom to use their rewards as they see fit. Cash back lets cardholders put money back into their businesses rather than feeling limited by choosing items from a rewards catalog. Besides, the Liberty Bank rewards catalog isn’t even visible to non-account holders.
Nevertheless, you can still redeem points for cash back on almost all of Liberty Bank’s business cards. The real determining factor in choosing this card is knowing what your biggest business expenses are.
If your business setting is an office, and you require a lot of telecommunications services, you’ll be earning the most cash back with this card. If your business doesn’t fit into this box, you might not benefit so much from this business card.