Park National Bank Visa Business Rewards PLUS Card

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Last updated on August 9th, 2021


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At a Glance  

The Park National Bank Visa® Business Rewards PLUS card features a flexible rewards program that proffers up to 3X points for every dollar spent. It also has a special introductory points bonus and great business management tools.

Ideal for Those Who:

  • Own or operate a business
  • Want a credit card that will earn rewards points for everyday business purchases
  • Would like to earn extra points in the categories they spend most in
  • Will spend $2,000 in the first 3 months after opening their account in order to qualify for a special bonus reward worth $200 when redeemed
  • Want to issue employee cards at no extra cost and control the spending limit on each individual card

Park National Bank Visa® Business Rewards PLUS Card Review

Get more value for your business by using the Park National Bank Visa Business Rewards PLUS Card. Business owners can enjoy a competitive APR for purchases and balance transfers while they earn unlimited rewards points towards a variety of great redemption options. Cardholders will also benefit from Visa® business benefits and perks, including chip-enhanced acceptance and security and more.

Earning Points with the Park National Bank Visa® Business Rewards PLUS Card

The Visa Business Rewards PLUS Card from Park National Bank bestows points for every dollar spent on everyday business purchases. Points can be earned at two different rates, broken down here:

  • Earn 3X points on Hotels, Airlines or Cell Phone Purchases: Cardmembers will earn 3 points for every $1 spent on either hotel stays, airline purchases, or cell phone services. The 3X rate is applied to the category in which you spend the most money during a given billing cycle. It can be particularly lucrative for business owners who travel often for their job. This rewards rate may seem strange at first blush, but think about it: If in one billing cycle you do not travel – in other words, you have no expenses in either the airline or hotel spending category – you might not receive that 3X reward. Park National Bank makes a concession for this by giving you the option of paying for your business’s cell phone services with your card, so that you’ll at least earn 3X points for something, rather than forgo the increased rewards rate for that particular billing cycle. The only caveat is that you’ll need to switch your cell phone carrier’s payment method to the Visa Business Rewards Plus Card. This is an incentive for business owners to spend more using their credit card. It’s not every day that you’ll see a business credit card that makes concession for rewards in this manner.
  • Earn 1.5X Points on Everything Else: Cardholders will earn 1.5X points for every dollar they spend on all other eligible purchases. Whether you use your card to buy toner for the office, to purchase new monitors for an employee’s computer, or treat yourself (or your staff) to lunch, you’ll earn 1.5 points for each dollar spent.

Points can only be earned from eligible purchases. Per Park National Bank’s terms and conditions, eligible purchases do not include certain types of transactions like cash advances, balance transfers, or convenience checks. Returns and credits are also ineligible for rewards.

On the other hand, business owners can earn unlimited rewards with no cap. These rewards do not expire for five years, but plan accordingly. Five years may seem like a long time, but waiting too long to redeem rewards will mean that they are forfeited. This might be a deal-breaker for some, especially when you consider the fact that many business rewards credit cards, like the Ink Business Preferred Credit Card, feature rewards that do not expire.

Cardholders can also earn a special introductory bonus of 20,000 points by spending at least $2,000 within the first three months of opening their Visa Business Rewards PLUS Card account. 20,000 points is the equivalent of $200 in rewards, which means that each point is worth approximately 1 cent. For a business owner, $2,000 in three months is an easy threshold to achieve just by using their card to pay for everyday business purchases. Whether you’re buying office furniture or restocking coffee in the break room, you’ll be earning points towards this bonus if you make those purchases within the introductory period.

How To Redeem Rewards Points from the Park National Bank Visa® Business Rewards PLUS Card

Business owners who would like to redeem their rewards must sign up for an account and link it to their new rewards card from Park National Bank. To redeem rewards, cardholders can log in to their account and choose from the options in the online portal. They can also call 1-888-229-8864. Points can be redeemed for a variety of reward options, including:

  • Gift cards to popular retailers
  • Travel savings
  • Name-brand merchandise
  • Cash back (issued as a statement credit)

Cardholders who already bank with Park National Bank, or who open a savings or checking account with them, can also choose to redeem their rewards points as a cash deposit directly into their open account with the issuing bank.

Competitive Interest Rates and Fees from Park National Bank

The Park National Bank Visa Business Rewards PLUS Card is accompanied by a middle-of-the-road, competitive APR for purchases and balance transfers. It’s not too high but also not the lowest business card APR on the market. Some cards, like the Synovus Business Rewards Visa® Credit Card and the PNC points® Visa® Business Card, feature a lower overall APR.

As an incentive to apply for their business credit card, Park National Bank waives the annual fee for the Visa Business Rewards PLUS Card for the first year. Each year after, the cardholder is assessed an annual fee of $99. This is a good way to squeeze a bit of extra juice from the card’s rewards, since it allows the cardholder to save $100. When compared to its competition, this card’s annual fee may seem a bit high – and while many business cards do not have an annual fee, they also do not feature the same types of rewards available here. However, there are also cards like the Southwest Rapid Rewards Performance Business Credit Card that have a much higher annual fee – but also provide more comprehensive (and more attractive) benefits. At the end of the day, you’ll get the value that you’re willing to pay for.

Park National Bank Business Benefits

Park National Bank’s Visa Business Rewards PLUS Card features a plethora of useful benefits and perks that business owners can capitalize on. Enjoy a convenient online expense management tool, which helps cardholders to organize and track their overall spending – a great aid for budgeting. This tool is accessible via the My Account Access link above. Business owners who open an account can also enjoy the best Visa® benefits, which include:

  • Chip-enhanced Acceptance and Security
  • Zero Fraud Liability
  • Verified by Visa® Protection
  • Account Truncation (which omits the card’s expiration date and all but the last four digits of the card number from your receipts)
  • Fraud Protection
  • Extended Warranty
  • Purchase Protection
  • Auto Rental Collision Damage Waiver Insurance
  • Visa SavingsEdge
  • Travel and Emergency Assistance

Entrepreneurs can also issue free employee cards with individual credit limits. Best of all, employee cards earn rewards that are accumulated to the business owner’s points total.

Should You Apply for the Park National Bank Visa® Business Rewards PLUS Card from Park National Bank?

The Business Rewards PLUS Card, issued by Park National Bank, is likely not a good fit for business owners who do not travel often for their work, since the bulk of the rewards – 3X points on hotel and airline spending – are associated with travel. The exception here would be for a business that requires its employees to have company cell phones, since cardholders who spend the most money on cell phone providers during a billing cycle will see the 3X rate applied to their communications purchases instead. However, if you find that you do not make a lot of travel expenditures for your business, or pay for multiple cell phone lines for employees, you might consider a different credit card with a similar rewards structure.

Another potential pitfall with this card is that there is no introductory APR period. Many business cards offer 0% interest for purchases, balance transfers, or both. Some, like the Ink Business Unlimited Credit Card from Chase and the Discover it® Business Card, offer lengthy introductory interest rate periods that can last for 12 months. Other business credit cards, like the Bank of Missouri Visa® Business Card feature an introductory APR period that lasts 15 months – but this is not as common. An introductory interest rate of 0% can be a powerful tool for savings. Business owners who are planning a large purchase for their company, or who have existing debt that they would like to pay down without earning additional interest charges, might find that a card that features an introductory APR is better suited to their financial goals.

All in all, the Park National Bank Visa ® Business Rewards PLUS Card is a good candidate for the business owner who will make travel-related purchases regularly throughout the year. It’s a great opportunity for anyone who runs a business to earn rewards from everyday purchases – and who also want to benefit from the purchases made by employees on the company dime.

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