Last updated on February 24th, 2023
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Synovus Business Visa® Credit Card
Synovus Business Visa® Credit Card
- 14.49% to 24.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 14.49% to 24.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
At a Glance
Best for business owners who plan to carry a monthly balance and want to save money on interest payments, the Synovus Business Visa® Credit Card is a no-frills business credit card that offers the lowest, most competitive rates from Synovus Bank.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Enjoy the lowest interest rates for businesses that Synovus has to offer
- 0% introductory APR for the first 12 months on purchases, balance transfers and overdraft protection
- No annual fee, no balance transfer fee (when requested over the phone or in person)
- Issue up to 19 cards for yourself and your employees, and set individual spending limits for each card
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 14.49% to 24.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months from account opening date
- Balance Transfer APR: 14.49% to 24.99% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% 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: Up to $39
- Return Payment Penalty Fee: $39
- Over Limit Penalty Fee: $39
- You run a business
- You will be carrying a balance each month and wish to minimize your interest payments on your monthly statement
- You would like to save additional money thanks to no annual fees and no balance transfer fees
- You will plan ahead in order to take full advantage of 0% interest for the first 12 months on purchases, balance transfers, and overdraft protectio
Synovus Business Visa® Credit Card Review
The Synovus Business Visa® Credit Card is a basic business credit card – no bells and whistles here – that is a great option for business owners who wish to maximize their savings thanks to the lowest interest rates that Synovus Bank offers, as well as an introductory APR of 0% for 12 months, and a lack of extraneous fees.
The Synovus Business Visa® Credit Card: Low, Competitive Interest Rates
Growing a business costs money – the old adage says, “spend money to make money,” after all; business owners who spend their hard-earned cash to build their brand will be on the look out for ways to save – and the Synovus Business Visa Credit Card is a great way to make business purchases without breaking the bank on high interest rates. Savings really add up with this card – it offers the lowest interest rates available to business owners from any of the business credit cards issued by Synovus Bank, after all. These interest rates are extremely competitive when compared to other business cards on the market, too.
Additional savings can be found for new account holders thanks to an introductory APR period that proffers 0% interest for 1 months on purchases, balance transfers, and overdraft protection. With proper planning, this is particularly useful for several reasons:
- Business owners who make large purchases when they open their account will pay no interest on those purchases for six months. If the office needs an update – new furniture, new equipment, or even new computers – using a credit card’s introductory APR is a good way to save money if there are not sufficient funds to pay for the purchase in full. It’s ideal to pay off the sum of the purchase in full before the introductory APR expires, since this way interest fees can be avoided entirely – but even if the balance is not paid in full, cardholders stand to save a lot of money for the first six billing cycles.
- If a cardholder has a balance accrued from a different business card, and they transfer that balance to their new Synovus Business Visa card, they’ll save money simply from moving their money to this new account. Again, it’s in the best interest of the cardholder to pay their existing balance in full during the six-month grace period so that interest fees can be avoided, so proper planning is warranted. It’s a good feeling to know even if a business has existing debt, they won’t necessarily be saddled with high interest rates thanks to credit cards that allow balance transfers, like this one.
With proper planning, the Business Visa Credit Card from Synovus can be a powerful tool for savings for business owners.
No Fees, No Problem
If you are a business owner who wants to save money, the Synovus Business Visa Credit Card may catch your interest for more than its introductory APR period, too. Many business credit cards assess extra fees for different transactions, and it’s fairly typical to see an annual fee and/or a balance transfer fee attached to cardholder agreements. While this is often offset by rewards programs, for a straight-to-business credit card like the Business Visa from Synovus that does not have a rewards program, those fees might be a turn-off.
Luckily, Synovus Bank has eliminated an annual fee from their terms for this card. Balance transfers are free from fees, too – when they’re requested in person with a banker, or over the phone. When no annual fee and no balance transfer fee is combined with the savings that can be achieved thanks to this card’s low, competitive interest rate and introductory APR period, these savings really add up.
It’s worth noting that, while Synovus Bank has eliminated many of the fees that their competitors charge, this business credit card does assess a foreign transaction fee. Business owners who plan leave the country for work-related travel may want to think twice about using this credit card for purchases while abroad, as each swipe of the card will cost a little extra. If you are looking for a similar business card that is better suited for overseas use, the M&T Business Credit Card is a good alternative which features comparable interest rates along with no annual fee, no foreign transaction fee, and an introductory APR that lasts for 12 months instead of the 6 month period offered by Synovus Bank.
Synovus Bank Business Banking Made Easy
The Synovus Business Visa Credit Card is a financial tool that stands out in its simplicity. Business owners have full control over their account thanks to Cardview®, which is Synovus Bank’s online portal for cardholders. Enrolling in Cardview is quick and easy, and this convenient online access allows business owners to manage their credit card account efficiently. View account activity, make monthly payments without the hassle of writing and mailing or hand-delivering a check to the bank; set up automatic payments, or set reminders for when a payment is due.
Synovus Bank also allows account holders to issue up to 19 total credit cards for themselves and employees. Employers have the option to set the individual spending limit for each card they issue to their personnel, which can help avoid overspending and overdraft woes for the company.
The Synovus Business Visa® Credit Card is accompanied by a slew of great cardholder protections from Visa®. These Visa benefits include:
- Travel Accident Insurance (Up to $500,000)
- Travel & Emergency Assistance Services
- Auto Rental Collision Damage Waiver
- $1,500 Hotel Theft Protection
- Lost Luggage Reimbursement (Up to $5,000)
- Purchase Security
- Extended Protection
- Emergency Evacuation and Transportation Coverage
Should You Apply for the Synovus Business Visa® Credit Card from Synovus Bank?
Ultimately, deciding if the Synovus Business Visa credit card is the right fit for your business boils down to preference and financial goals. There are a variety of factors to consider about each card offer on the market, including interest rates, extra fees, introductory bonuses, introductory APRs, whether there is a rewards program attached to the card, and more.
If you’re after a credit card that provides a lucrative rewards program in addition to ample savings, you might want to look at the Synovus Business Rewards Visa Credit Card, which is the sister card to Synovus Bank’s Business Visa. Although the Business Rewards Visa has slightly higher interest rates, this isn’t a deal breaker – it offers a flexible rewards program that allows you to choose a bonus spending category – what Synovus Bank calls a Dynamic Earn category – with the option to change this selection each quarter, based on your business needs. Like the Synovus Business Visa card, the Synovus Business Rewards card does not charge an annual fee or a balance transfer fee and shares the same generous introductory APR period. The Business Rewards Visa from Synovus is a middle-tiered rewards card that stands out thanks to its flexibility, while the basic Business Visa stands out thanks to its simplicity and low interest rate.