Compare top Citizens Bank business cards – February 2019
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Sometimes you don’t need a large selection of credit cards to find the right one for your business.
Citizens Bank is one of the oldest banks in the US, established in 1828. Today, it operates across 11 states with more than 1,150 branches and 3,300 ATMs. But even if you don’t live in any of the states where the bank has a branch, you can still apply for a credit card and enjoy its perks and benefits.
This global financial services giant first issued its American Express® Gold Card in 1966. Today, it offers cards for individuals, small businesses and corporations that feature travel, cash back and access to a catalog of goods and services through its Membership Rewards® Program.
Best business card for earning rewards: Everyday Points® Business Mastercard®
Everyday Points® Business Mastercard®
25,000 bonus points when you spend $5,000 in the first 90 days from account opening.
This is a small business credit card that lets you earn points on every purchase. You can redeem points for travel rewards, cash back, gift cards, merchandise and debit cards. Furthermore, you’ll get a long intro APR on purchases that can be useful if you’re looking to stock up on inventory.
And the best part? You get all these perks without paying an annual fee.
Signup bonus. Earn 25,000 bonus points when you spend $5,000 on purchases in the first 90 days from account opening. That’s up to $125 worth of rewards. Compared to other cards where you can earn $500 cash back, this is a modest reward.
Earn rewards. For every dollar spent, you earn 2 points. Redeem your points for travel, cash back, gift cards, merchandise and debit cards.
Intro APR period for purchases. Enjoy a 0% intro APR period on purchases for the first 13 billing cycles after account opening. After that, a variable APR of 13.24%, 18.24%, 21.24% or 23.24% will apply. This can help your business if you’re looking to make a large purchase early on.
No annual fee. The card comes with a $0 annual fee, which can reduce your expenses if you’re planning to get multiple cards for your employees.
Mastercard advantages. You’re covered against damage and theft with MasterRental® Insurance when you rent a car. You also get access to the Mastercard Easy Savings® program, where you get rebates of up to 10% at participating merchants, 4% when dining at one of the 10,000 participating restaurants and 1% for gas purchases at participating gas stations.
Penalty APR. The card has a penalty APR of 27.24% variable. It may be applied to your account if you don’t make the minimum payment by the due date or if you exceed either your cash advance limit or your credit limit — among a few other conditions. To remove the penalty APR, you need to make six consecutive minimum payments by each due date.
Foreign transaction fees. If you travel abroad, minimize your payments with this card or you’ll incur a fee of either $1.50 or 3% of the transaction, whichever is greater.
When you apply for the Everyday Points® Business Mastercard®, you can choose between two points earning options:
Cardholder Earn. For this option, each cardholder accrues points on their individual cards, and they can earn the signup bonus individually. Point redemption in this case is also individual.
Business Earn. If you choose this option, each cardholder accrues points for one master account, and they all contribute toward the signup bonus and points earning. Redeeming points in this case can only be made by the master account cardholder.
If you don’t choose an option, you’ll get the default, which is Business Earn.
Best business card for payment flexibility: Business Platinum Mastercard®
Business Platinum Mastercard®
Enjoy a 0% intro APR on purchases for the first 13 billing cycles from account opening.
Small businesses looking for a no-annual-fee card with a low APR on purchases could find this card useful. Based on your creditworthiness, you can get a variable APR as low as 10.24%, which, in addition to the long intro APR period on purchases, could considerably lower your expenses.
Low APR. Aside from the intro APR period on purchases, you could get one of the lowest ongoing APRs for purchases of 10.24%, 16.24%, 19.24% or 21.24% variable.
Intro APR on purchases. Get a 0% intro APR on purchases for 13 billing cycles. After that, a variable APR of 10.24%, 16.24%, 19.24% or 21.24% applies. This could be useful if you’re planning to make a large inventory purchase for your business.
No annual fee. You won’t have to pay an annual fee to own this card.
Mastercard advantages. When you rent a car using your Business Platinum Mastercard®, you’re covered against damage or theft. You also get access to the Mastercard Easy Savings® program, where you get rebates of up to 10% at participating merchants, 4% when dining at one of the 10,000 participating restaurants and 1% for gas purchases at participating gas stations.
Penalty APR. This card has a penalty APR of 27.24% variable that may apply if you don’t make the minimum payment by the due date. It may also be applied if you exceed either your cash advance limit or your credit limit — among a few other conditions. To revert the rate back to a lower one, you need to make six consecutive minimum payments by the due date each month. Other business credit cards have a penalty APR of up to 30% that can apply indefinitely.
Foreign transaction fees. When you travel abroad, try to refrain from using this card often, as you’ll pay a fee of either $1.50 or 3% of the transaction, whichever is greater. It may not seem like much, but it can quickly add up over a trip spanning several days.
How to compare Citizens Bank credit cards
The two main questions to ask when deciding on a Citizens Bank business credit card are:
Do you want to earn rewards for your spending? If your business has high monthly expenses and you’re looking to capitalize on that, consider getting the Everyday Points® Business Mastercard® to earn points on all of your business purchases. Once you accrue enough points, you can redeem them for travel rewards, merchandise, gift cards and more.
Does your company often carry a balance? For businesses that have cashflow difficulties, the Business Platinum Mastercard® could be the right choice. With a long intro APR period on purchases and a relatively low ongoing APR, you’ll be able to carry your balance with minimal interest.
Consider a top card from another brand
Ink Business Preferred℠ Credit Card
Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
Zero liability. You won’t be held liable for unauthorized purchases made with your card.
Chip cards. Get increased security with hard-to-counterfeit chip cards.
Identity theft services. In case of identity theft, get help replacing cards, completing an affidavit and more.
Extended warranty. Doubles the original manufacturer’s or store brand’s warranty for up to 12 months on eligible purchases made with your card.
Price protection. When you purchase something with your card for over the advertised price, you can get a partial refund for up to 60 days following the purchase.
Citizens Bank mobile app. Download the mobile banking app and make payments, transfer money between accounts, monitor account activity and more.
Bottom line
Citizens Bank offers two business credit cards that could be a decent addition to your wallet, even if you don’t reside in a state where Citizens Bank has branches.
You can choose between a card with a relatively low ongoing APR on purchases, and a card that lets you earn points that are redeemable for a host of rewards. Aside from each card’s specific features, you get a host of perks and benefits courtesy of Mastercard — all without paying an annual fee.
Kliment Dukovski is a writer who specializes in global financial markets and personal finance, with a focus on credit cards. His main goal is to deliver honest and accurate information to help you make the right financial decision. When he's not writing about finance-related subjects, he writes sci-fi stories.
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