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Last updated on December 17th, 2020
Sterling National Bank Visa Business Cash Card
Earn Up to 3% Cash Back
- 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 Good , Fair
- Intro Purchase APR 0% for 6 months from account opening date
- Processing Network Visa
- Earn 3% cash back on all eligible net purchases from office supply stores and cellular phone, landline, internet and cable TV services
- 2% cash back on restaurant and gas station eligible net purchases
- 1% cash back on all other eligible net purchases
- Earn unlimited cash back that does not expire for five years
- Special cash back bonus of $25 after first purchase
- 0% introductory APR on purchases and balance transfers for the first six months of account opening
- 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 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 Sterling National Bank Visa® Business Cash Card is a cash back credit card designed for business owners who want to earn rewards from everyday business purchases. Between cash back rewards and the lack of an annual fee, the card allows owners to grow their company with ease and minimal costs.
Ideal for Those Who:
- Own or operate a business
- Want to earn up to 3% cash back for all eligible purchases for their business
- Would like a credit card that does not charge an annual fee
- Will take advantage of an introductory APR offer by making a large business purchase with their new card, or by transferring a balance to pay down existing debt interest-free
- Want free employee cards that have individual credit limits and earn rewards that accrue to the accountholder’s total
Sterling National Bank Visa® Business Cash Card Review
The Sterling National Bank Visa® Business Cash Card makes growing a business easy and lucrative, thanks to a cash back program that rewards everyday business spending. You can earn cash back rewards from buying the things that make your business successful while growing both your company and your credit profile.
How to Earn Cash Back with the Sterling National Bank Visa® Business Cash Card
Business owners who are approved for the Sterling National Bank Visa® Business Cash Card can earn up to 3% cash back per $1 spent. Cash back is awarded for almost every eligible purchase, but especially for the regular expenditures that keep a business on its feet. Earn cash back at three different rates, based on the following spending categories:
- 3% Cash Back on Office Supplies and Utilities: Business owners who regularly make eligible purchases at office supply stores, or who make use of high-speed Internet and phone lines for their company, will be able to earn 3% cash back per $1 each time they use their card. This is a great opportunity to get rewarded while buying the tools that keep a business running smoothly. Earn 3% from buying printing paper, pens and pencils, toner for the copy machine or even new monitors and office furniture. If your employees have company cell phones, you can also earn cash back by using your Visa Business Cash Card for the company phone bills.
- 2% Cash Back on Dining and Gas: Cardholders will earn 2% cash back from every eligible purchase made at restaurants and at gas stations. This perk comes in handy for those who commute to work – especially if they need to fill their car multiple times each week. It’s also great for business owners who like to treat clients to lunch, since dining purchases are rewarded with 2% cash back, too.
- 1% Cash Back on Everything Else: Cardholders will earn 1% cash back on every other eligible net purchase they make using their Business Cash Card from Sterling National Bank. Each purchase – large and small – counts towards your rewards total.
Cardholders will be able to earn unlimited cash back rewards by using their new Visa Business Cash Card regularly. These rewards do not expire for five years from the billing cycle in which they are earned. This makes it easier to redeem the rewards as a statement credit, since there is no points minimum that must be met to get the reward, unlike with cards that earn points towards things like merchandise and travel.
A special one-time introductory bonus is available to new cardholders, too: A bonus of $25 in cash back after an initial purchase. This is a great opportunity to get the ball rolling and save money; simply make any purchase, large or small, and you’ll qualify for the cash back statement credit. It’s essentially free money – and a great incentive to sign up for this card. To earn the equivalent of this bonus, a cardholder would need to spend approximately $835 on office supplies and utilities, $1,250 at restaurants or on gas, or $2,500 on all other purchases.
Note that cash back may only be earned from eligible purchases. Sterling National Bank states in their terms and conditions that transactions like cash advances, balance transfers, and convenience checks – along with returns and credits – are ineligible to earn cash back rewards.
How to Redeem Cash Back from the Sterling National Bank Visa® Business Cash Card
Rewards can be redeemed as a statement credit to your credit card account within one-to-two billing cycles. They can also be redeemed as a cash deposit to a checking or savings account – but only if it’s a Sterling National Bank account. In order to see the total cash back balance they have earned, cardholders can visit their online account portal to set up a profile that will allow them to monitor, and redeem, their cash back rewards.
This account also serves as an online expense management tool. It’s a convenient way to track and organize overall spending, which is good for business owners who want to budget on a monthly basis. It also allows business owners to issue employee cards at no extra cost. Through this online portal, accountholders can control the individual credit limit of each employee card. As a bonus, purchases made with employee cards earn rewards that accrue to the primary accountholder’s cash back total.
Competitive Interest Rates and Fees from Sterling National Bank
Sterling National Bank’s Visa Business Cash Card is accompanied by a competitive standard interest rate, placing it solidly in the running next to most of its competitors when it comes to purchase APRs. To sweeten the deal, the bank also offers an introductory APR period during which new cardholders pay 0% interest on purchases and balance transfers. This period lasts for the first six billing cycles. Once the promotional rate has passed, cardholders will be subject to the standard interest described above. With proper planning, business owners can really take advantage of an introductory APR. Making a large business purchase on credit is easier when there are no interest charges to add to the balance each month. Those who plan to carry a balance can easily pay down most, if not all, of this purchase to avoid accruing excess fees. Similarly, business owners who have existing debt from another account can utilize this introductory APR period to transfer their balance and pay it down interest- and worry-free for six months.
Since there is no annual fee for the Sterling National Bank Visa Business Cash Card, business owners can put their money towards what counts – their business – and focus on saving their cash for what’s important to them.
Sterling National Bank Business Benefits
The Sterling National Bank Visa Business Cash Card boasts a bevy of benefits that business owners can make ample use of. Aside from the available online expense management tools, cardholders can enjoy Visa® benefits such as:
- Chip-enhanced acceptance and security
- Zero Fraud Liability
- Visa Secure (a service that protects each Visa cardmember by requiring a personal password)
- Fraud Protection
- Account Truncation (only the last four digits of your account number will display on receipts; the expiration date will also be omitted)
- Extended Warranty
- Purchase Protection
- Auto Rental Collision Damage Waiver Insurance
- Special discounts with Visa SavingsEdge
- Travel and Emergency Assistance
Should You Apply for the Sterling National Bank Visa® Business Cash Card from Sterling National Bank?
Since the Sterling National Bank Visa Business Cash Card rewards business owners for everyday spending, it will be a great fit for entrepreneurs who will regularly use a credit card to grow their business. With a focus on purchases at office supply stores, utilities, gas and dining, this card makes it easy for business owners to earn rewards even as they spend money on the things that help them to run their operation smoothly. Businesses that require amenities like high-speed internet and company cell phones will benefit most from this cash back rewards structure.
Ultimately, there are multiple cash back credit cards available for business owners, each with their own merits – so how do you choose the best fit? This boils down to your spending habits and the sort of company you run, as well as its financial goals. It’s also important to consider geographic location. Sometimes, opening a credit card account with a bank that does not have any physical branches in your area can be a hassle – even if the credit card they issue has better amenities. The Park National Bank Visa Business Cash Card is one of the closest competitors to the Sterling National Bank Visa Business Cash Card. However, Sterling National Bank serves New York State and the Hudson Valley region, while Park National Bank has most of its physical branches in Ohio and Kentucky. As such, it makes better sense for a potential cardholder who lives in Ohio to apply for Park National Bank’s offering. Conversely, someone in New York is likely going to have a better customer service experience if they get Sterling National Bank’s Business Cash Card. Applying for a card in the area you do business in makes banking easier, since it means easy access to actual bank tellers if you need in-person customer service, as well as ATMs for cash withdrawals.
Other business cash back credit cards focus on rewards for spending in different categories than the Visa Business Cash Card’s from Sterling Bank. For example, there’s the BB&T Spectrum Cash Rewards for Business Card, which offers comparable rewards that focus on gas rather than office supplies and utilities. Businesses that have a fleet of cars, or business owners who do constant driving, might find more value from this perk.
Other business cards offer points systems for spending that can be redeemed for a variety of great rewards, not just a cash back. The BBVA Visa® Business Rewards Credit Card, for example, allows cardholders to redeem their points for an account credit or gift cards. The Synovus Business Rewards Visa® Credit Card takes this flexibility a step further, as cardholders can redeem points they’ve accrued for rewards that range from travel discounts and credits to merchandise, gift cards, and cash back credits.
The Sterling National Bank Visa® Business Cash Card is ultimately a great opportunity for a business owner who wants to earn rewards for making frequent purchases on credit to grow their business. It’s a financial tool that focuses on business savings by rewarding spending with statement credits, putting money spent on growing a business back into the business itself.