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Advanta Platinum BusinessCard Review
Issued by Advanta
  
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Overall Rating:
Benefit Rating:
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The Advanta Platinum BusinessCard, issued by Advanta, is designed for business owners who are looking to consolidate business expenses onto one credit card account.
The card has no annual fee and an attractive 0% introductory rate on purchases and balance transfers for the first twelve months. After the introductory rate expires, the APR for purchases and balance transfers is reasonable.
It is important to note that the APRs for all transactions may be tied to the highest Prime Rate during a 90-day period. Since the issuer selects the rate from any day within that time frame, the APRs may never reach the lowest possible rate due to this policy.
Many common platinum business features can be found with this card, including auto rental insurance, extended warranty coverage, itemized expense reports, and online account access. Cardholders are also offered discounts on various products and services from participating retailers and merchants.
Therefore, individuals who may occasionally carry a balance and plan to take advantage of the additional benefits and services (especially the retailer and merchant discounts) will benefit most from what the Advanta Platinum BusinessCard has to offer.
The card has no annual fee and an attractive 0% introductory rate on purchases and balance transfers for the first twelve months. After the introductory rate expires, the APR for purchases and balance transfers is reasonable.
It is important to note that the APRs for all transactions may be tied to the highest Prime Rate during a 90-day period. Since the issuer selects the rate from any day within that time frame, the APRs may never reach the lowest possible rate due to this policy.
Many common platinum business features can be found with this card, including auto rental insurance, extended warranty coverage, itemized expense reports, and online account access. Cardholders are also offered discounts on various products and services from participating retailers and merchants.
Therefore, individuals who may occasionally carry a balance and plan to take advantage of the additional benefits and services (especially the retailer and merchant discounts) will benefit most from what the Advanta Platinum BusinessCard has to offer.
Review Date: August 19, 2008
Note: The review on this card was updated on August 19, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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0% APR for 12 Months |
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Intro Applied Towards:
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Purchases, Balance Transfers |
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Purchase APR:
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11.24% (Variable) The APR for purchases is based on the Prime Rate. |
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Cash APR:
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11.24% (Variable) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
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Finance Configuration:
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Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$0 |
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Additional Cardholders:
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$0 |
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Grace Period:
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20 Days |
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Late Payment Fee:
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$19 if balance is less than $250; $39 if balance is $250 or more |
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Over the Limit Fee:
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$15 on balances under $501; $29 on balances between $501 and $1,001; and $39 on balances over $1,001 |
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Cash Advance Fee:
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3%, $5 minimum ($50 maximum for convenience checks) |
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Balance Transfer Fee:
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3%, $5 minimum, $90 maximum (with this introductory offer) |
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Maximum Credit Limit:
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$50,000 |
| Features | |
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Most Attractive Feature(s):
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| No annual fee; discounts on various products and services. | |
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Least Attractive Feature(s):
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| APRs based on the highest Prime Rate during a 90-day period. | |
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Additional Features:
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| Various Internet account related services. Personalized business design. Personalized business checks. Personalized billing date. Online statements and management reports. Auto rental insurance. Purchase protection. Extended warranty for purchases. Discounts on products and services at participating merchants and retailers. Compatible with Quicken® and Microsoft Money® software. See website for additional benefits. |
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Important Notations
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| The APR is based on the highest Prime Rate during a 90-day period. The APR for cash advances varies according to the applicant's credit history and will be either 11.24% or 19.99%. See website for complete terms and conditions of card usage and application disclosure. | |
| Additional Information | |
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Apply Online for the Advanta Platinum BusinessCard from Advanta See other Business Credit Cards See other Credit Cards Issued by Advanta See other MasterCard Credit Cards |
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