Overview: For business owners who want to combine all business purchases onto one card, the Advanta Life-of-Balance Platinum Card may be a good choice. This rewards card offers cardholders the opportunity to choose between a rebate program and a travel rewards program. Under the rebate program, cardholders are required to choose between several categories, including fuel and computer and office supplies. They will receive the highest rebate on these purchases and lower rebates on all others. A travel rewards program is also available. Other perks of the Advanta Life-of Balance Platinum Card include personalized business checks, online services that allow cardholders to monitor their spending, and discounts on products and services at participating retail locations. There is no annual fee, but those considering this card should be aware that after the introductory interest rate has expired, the APR is variable and based on the highest Prime Rate over a three-month period.
Pro and cons of the card:
Pros:
Track spending and expenses with online tools
No annual fee
Choice between rebate and travel rewards program
High rebates on the chosen category of business-related purchases
Rebates on other purchases
Unlimited rebates
Discounts on products and services
Low introductory APR
Personalized checks
Cons:
Low rebates on purchases not related to the chosen category
Cardholders can only participate in the rebate or travel rewards program
Variable APR
Interest rate is based on the highest Prime Rate over 90 days
Maximum rebate will not be earned on all purchases
Excellent Credit
750-850
Good Credit
660-749
Fair Credit
620-659
Bad/Poor Credit
350-619
No Credit
0-0
Do You Know Your Credit Score? Find Out Now!
A credit score
is a number generally between 300-850, based on a statistical
analysis of a person's credit files. This score represents the credit
worthiness of a person. A credit score is assigned to each individual, to rate
how risky a borrower he or she is--the higher the score, the less
risk the individual poses to creditors. In most cases, your credit score will determine whether you will be
approved for a credit card.
1. Credit Scores range from 300-850, the higher the better 2. Most lenders base approval on your credit score. 3. Higher Scores mean lower payments and better deals. 4. Higher Scores mean Lower interest rates. 5. Scores are determined by 5 main categories:
Payment History
Amounts Owed
Length of Credit History
Type of Credit Used
New Credit
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* See the online Applytoday.com (www.applytoday.com) credit card application for details about terms and conditions and offers.
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Type of credit needed: Good Credit
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