Last updated on February 24th, 2023
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Vectra Bank AmaZing Rate for Business Credit Card
Vectra Bank AmaZing Rate for Business Credit Card
- 15.50% variable based on the Prime Rate Regular Purchase APR
- 15.50% variable based on the Prime Rate Balance Transfer APR
- 25.49% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
At a Glance
The Vectra Bank AmaZing Rate for Business Credit Card is a low APR business credit card that benefits from 0% intro APR on purchases, a fixed APR after that, and a cash back bonus for meeting minimum spending requirements within the first 120 days of opening an account.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Get $1,000 back after spending $7,500 in the first 90 days
- Or get $500 after spending spend $5,000 in the first 90 days
- 0% introductory APR on purchases and balance transfers for 6 months
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 15.50% variable based on the Prime Rate
- Balance Transfer APR: 15.50% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.49% 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 plan to carry a balance
- You prefer a fixed-rate APR over a variable APR
- You plan to use their card for at least $5,000 in spending in the first 120 days
- You don't want to pay an annual fee
Vectra Bank AmaZing Rate for Business Card Review
Vectra Bank provides an array of quality credit card products to both individuals and businesses, and the AmaZing Rate for Business Credit Card is one such product.
A Great Low Fixed Rate
The AmaZing Low Rate for Business Card offers a highly competitive interest rate for companies that plan to carry a balance. Unlike some other business cards, Vectra provides a fixed interest rate that only varies with the Prime Rate. The rate, 7% + Prime, is highly competitive in the low APR business card field, and almost 4% lower than the national average for minimum APR on business cards – no mean feat.
0% Intro APR for 6 Months
The excellent fixed APR is further boosted by 0% intro APR on both balance transfers and purchases for the first six months, making the AmaZing Rate Card a solid choice for businesses with existing credit card balances they wish to pay down, as well as a tool for financing larger purchases over time.
Built for Businesses Who Carrying a Balance
This combination of a great, low APR and a solid introductory 0% APR period creates a card that is conducive for both balance transfers and financing larger purchases over time.
Carrying a balance is essential for many businesses, as cash flow is the lifeblood of every company, regardless of its size. The AmaZing Rate Card gives small to medium-sized Colorado companies this flexibility, meaning it is a potent tool in every corporate tool belt.
Cash flow is further enhanced by a relatively modest cash advance APR of around 22%. While In no means low, it also isn’t extortionate, provided a decent safety net should access to immediate funds become a necessity.
Financial Monitoring Tools
Equally important for businesses is keeping spending in check. Vectra Bank makes this a breeze thanks to its Online Banking services. Account-holders have access to a comprehensive suite of account management tools, including IntelliLink.
IntelliLink is an online reporting tool that provides almost two dozen pre-built reports to help companies stay on top of the spending. For those who want something more bespoke, IntelliLink Expense Management offers personalized expense reporting. And, if required, the IntelliLink service offers regular training webinars to keep account managers up to speed with the latest software updates.
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 Rate for Business Credit Card?
Carrying balances is an integral part of a business credit card, and the AmaZing Rate for Business Card from Vectra Bank does this with style. The card benefits from 0% intro APR on balance transfers and purchases for the first six months, followed by an exceptional – and fixed – interest rate after that.
Companies also benefit from up to $1,000 cash back when meeting minimum spending requirements within the first 90 days, which is nice, but really, it’s the no annual fee, low interest rates, and online account management tools that make this card worthwhile.
When it comes to fixed rate business cards that offer a low APR every day, the Vectra Bank Low Rate for Business Card is an exceptional value all Colorado businesses should explore carefully.