If you’re looking for a business credit card that doesn’t take into account your personal credit, look no further. Today we are going to discuss Citizens Bank, a geo-restricted bank that has great options for business credit cards. While there are many videos that may contain outdated information, we are here to provide you with the most current data points.
Business credit cards offered by Citizens Bank
Citizens Bank offers two different business credit cards: Everyday Points and Business Platinum MasterCard. Let’s take a closer look at both options:
MasterCard for Business Daily Points
With this card, you’ll earn two points for every dollar spent on everyday purchases with your business credit card. Plus, you can earn up to 3.5% rewards when you spend $5,000 in the first 90 days, and 1% after that. This is a competitive rewards program that can benefit your business.
The card also offers an introductory 0% APR on all business purchases for six months. This can provide much-needed flexibility for your business expenses. The APRs on this card range from 11% to 21%, depending on your personal creditworthiness.
Platinum Business MasterCard
The Business Platinum MasterCard is similar to the Everyday Points card, but without the rewards program. This card is best suited for balance transfers and other business needs. However, if you want to earn rewards, we recommend going with the Everyday Points card.
Apply for a Citizens Bank Business Credit Card
Before diving into the application process, it’s important to note that Citizens Bank takes a large draw on your Equifax personal credit. Although many videos may claim that it is a gentle pull, this has changed recently. Prepare for a thorough personal credit investigation.
To apply for a business credit card with Citizens Bank, it pays to have a pre-existing relationship with them. If you don’t already have one, we recommend opening a personal checking and savings account. Citizens Bank offers great sign-up bonuses for personal checking accounts, like a $250 bonus with direct deposit.
Once you have established a personal banking relationship, you can proceed to apply for a business credit card. Citizens Bank typically offers high credit limits, ranging from $8,000 to $25,000. Keep in mind that they are responsive to inquiries and prefer candidates with a good FICO 8 score.
Benefits of Citizens Bank Business Credit Cards
One of the main advantages of Citizens Bank business credit cards is that they don’t take into account your personal credit. This can be an important advantage, especially if you are trying to maintain a healthy personal credit profile.
However, it is important to note that there is conflicting information about whether these cards report to business credit reporting agencies. Although two out of three representatives indicated that they were reporting, they could not specify which office it was. It is best to assume that there may be reporting to business credit reporting agencies.
Conclusion
Citizens Bank offers attractive business credit card options for those looking for a card that is not personal credit. Before applying, it is wise to establish a personal banking relationship with them. This can increase your chances of approval and allow you to take advantage of their high credit limits.
Remember to monitor your personal credit and minimize recent inquiries for a smoother application process. Overall, Citizens Bank offers a solid option for business owners looking to separate their business expenses from personal credit.
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