Last updated on February 24th, 2023
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Vectra Bank AmaZing Cash for Business Credit Card
Vectra Bank AmaZing Cash for Business Credit Card
- 19.15% variable based on the Prime Rate Regular Purchase APR
- 19.15% variable based on the Prime Rate Balance Transfer APR
- 28.24% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
At a Glance
The AmaZing Cash for Business Card from Vectra Bank earns up to 3% back on purchases while also benefiting from 0% intro APR on purchases – all for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Get $500 Cash Back when you spend $3,000 in the first 90 days
- Get $1,000 Cash Back when you spend $50,000 in the first 6 months
- 0% Intro APR on purchases for 6 months
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 19.15% variable based on the Prime Rate
- Balance Transfer APR: 19.15% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 28.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% 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: Up to $29
- Over Limit Penalty Fee: Up to $29
- You prefer cash back and statement credits to other reward options
- You want a card that gives them an interest-free period to finance significant purchases
- You want to avoid the fluctuations of a variable-rate APR
- You do't want to pay an annual fee
Vectra Bank AmaZing Cash for Business Credit Card Review
The Vectra Bank AmaZing Cash Business Card is a no annual fee cash back business card that also benefits from 0% intro APR on purchases and a fixed rate on all transactions after that.
How to Cash Back
The Vectra AmaZing Cash for Business Card may seem the same as the AmaZing Rewards Business Card. After all, it earns rewards at the exact same rate as the Rewards Card, just with these rewards coming as a percentage back rather than points.
Cardholders, for example, earn 3% back on purchases in the following categories, just like with the Rewards Business Card:
- Mobile phone services
- Internet and cable TV
- Office supplies
- Landline phone services
The cash back is the same in the 2% and 1% back categories as well: 2% back on eligible travel purchases (airfare and car rentals) and 1% back on everything else. Where the card differs from the rewards version, however, is how rewards can be redeemed.
Cash back earned in the 3% and 2% categories applies to the first $150,000 in purchases only, with all purchases after that threshold is reached earning a flat single point per dollar spent.
How to Redeem Cash Back
Redeeming cash back with Vectra is a straightforward process. To redeem, the account must be in good standing and there must be at least $25 in cash back accrued. Once these prerequisites are met, there are two options for receiving cash back: as a statement credit to the account, or as a deposit to a linked Vectra savings or checking account.
Bonus Points Offer
Like the Rewards Card, businesses also benefit from the opportunity to earn up to 100,000 points by meeting minimal spend requirements within the first 90 days. A spend of $5,000 on purchases receives 50,000 points; and $7,500 on purchases doubles the bonus to 100,000 points.
This bonus has a cash equivalent of up to $1,000, as rewards points are worth $0.01 each. Earning either $500 or $1,000 is a nice perk – and a welcome addition to companies who plan to really use their new cards to invest in their companies.
0% Intro APR on Purchases
The AmaZing Cash for Business Card also offers 0% intro APR on purchases for six months, providing the cash flow companies need to finance a significant purchase. Since purchases in the first six months come with no interest, this is an excellent opportunity for companies to use their new card to finance infrastructure and technological improvements and earn the $500 (or $1,000) cash bonus at the same time.
Fixed Interest Rates After That
The AmaZing Cash Business Card offers a reliable, fixed APR of 10.66% + Prime once the introductory period closes, which is a competitive, but not exceptional rate. The rate, however, provides businesses with the flexibility they need to earn cash back while still allowing them the option of carrying a balance. Sure, the APR ins’t as good as that found with the Low Rate Business Card, the PNC Cash Rewards Visa Signature, or the Wells Fargo Business Platinum, but the latter two come with a variable APR, meaning the rate could fluctuate wildly depending on the creditworthiness of the applicant.
Financial Monitoring Tools
Vectra Bank makes it easy for companies to keep tabs on their spending thanks to its Online Banking services and IntelliLink, an is an online reporting tool that provides twenty pre-built reports to help businesses stay on top of the spending. Vectra also offers companies different options for receiving their statements. Businesses can choose between one statement for the entire account or individual statements for all cardholders, meaning each employee can be held accountable for their purchases.
Should You Apply for the Vectra Bank AmaZing Cash Business Card?
Overall, the AmaZing Cash Business Card is a cash back rewards credit card that also provides a reliable, low fixed rate on purchases and balance transfers. While the triple and double cash back categories are limited to the first $150,000 in purchases, this is a high ceiling to reach, meaning most companies can earn maximum rewards all year long without worry.
The additional bonus cash back, as well as the 0% intro APR on purchases period, further make earning a breeze, allowing companies to make the purchases they need without fear of interest payments for the first half of the year.