Finding the best credit cards isn't always easy, especially if you're looking to compare low interest credit cards for your business. With so many business credit cards out there, finding the best one for your business isn't always easy.
Star Reviews decided to take the guesswork out of finding the best low interest credit cards by creating comprehensive low interest credit card reviews. Advanta Life of Balance Platinum Card, a low-interest business credit card, is one of the cards we researched. Our findings are detailed in the credit card review below.About Advanta Life of Balance Platinum CardThe Advanta Life of Balance Platinum Card is a great credit card for business owners who are interested in consolidating all of their business purchases onto one low-interest card. Offering one of the only flexible rewards programs in the business credit card market, Advanta Life of Balance Platinum Card allows business owners to choose which category they will receive 6 percent cash rebates in, with purchases in other categories earning up to 2 percent cash back.
Website Navigation:Navigation of the website was straightforward and fairly easy. Access to the terms and conditions was easy to locate and the highlights of the card were clearly outlined on the application page.
Star Reviews' Favorite Feature:
It is going to be almost impossible to beat the balance transfer offer on this card – 2.99 percent interest for the life of the credit card on balance transfers completed within the first 3 months.
Features:
- Online account access.
- Online statements and credit card management reports.
- Your choice of a personalized business credit card design.
- Access to personalized business credit card checks.
- Discount offers for products and services at participating merchants and retailers.
- Access to choice of travel rewards or rebate program.
Rewards:
The Advanta Life of Balance Platinum Card offers bonus rebates of 6 percent in the cardholder’s choice of one category, including gasoline and diesel fuel, computer equipment and office supplies, building supplies, restaurant dining or utilities and telecommunications. The other categories will earn rebates of up to 2 percent cash back. Rebate checks are automatically issued when the cardholder reaches $50 in earned rebates.
Introductory Offers:
The Advanta Life of Balance Platinum Card offers a 2.99 percent interest rate on balance transfers initiated within the first three months of opening the Advanta account. The 2.99 percent rate is good until the balance is paid off in full.
Standard Terms:
- 9.99% variable APR.
- 9.99% variable interest rate on cash advances.
- No annual fee.
- No added cost for additional cardholders.
- 20-day grace period.
- $19 late payment fee on balances up to $250, $29 on balances above $250 but less than $1,000 and $39 late fee on balances greater than $1,000.
- Over-the-limit fee of $15 on balances up to $501; $29 on balances of $501 up to $1,001; and $39 on balances over $1,001
- 3% cash advance fee with a minimum of $5 and a $50 maximum on convenience checks.
- Balance transfer fee of 3 percent with a $5 minimum and $50 maximum.
Customer Support:
Advanta did not offer customer service via the application page, but there is customer service contact information located on the homepage of the website. The company offers customer service via an online help center, a toll-free telephone number and email support. Telephone support was very helpful and our call was answered in an acceptable amount of time. Email support was also helpful and the answer to our question was received within one business day.
Upside:
Low APR, unbeatable balance transfer offer and additional business perks.
Downside:
Convenience checks can be costly, racking up a fee of up to $50 and this card is only for business owners.