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Advanta Platinum Business Card

Intro APR: 0%

Issuer: Advanta

SUMMARY OF IMPORTANT ADVANTA BUSINESS CARD ACCOUNT TERMS
Annual Percentage Rate (APR) for Purchases and Balance Transfers	Prime plus 5.99% ; however, for Balance Transfers only, introductory 0% for the first twelve billing cycles from the date your account is opened.
Other APRs	Cash Advances: Prime plus 5.99% or Prime plus 15.99% . Default: The higher of the account APR plus 3%, or Prime plus a Default Margin of 17.99%.
Grace Period for New Purchases	25 days from statement closing date, if new balance is paid in full in the manner and by the time of day on its due date as shown on statement.
Annual Fee	None when you select any Cash Back reward program; $35 annual program fee when you select the Bonus Miles reward program.
Minimum Finance Charge	None when you select any Cash Back reward program; $35 annual program fee when you select the Bonus Miles reward program.
Transaction Fees for Cash Advances and Balance Transfers	Cash Advances other than Convenience Checks: 3% (minimum $5); Convenience Check Cash Advances: 3% (minimum $5; maximum $50). Balance Transfers processed during the introductory period: 3% (minimum $5; maximum $50).
Other Fees	Late Payment Fee: $15 to $39 based on balance. Overlimit Fee: $15 to $39 based on balance. Returned Payment Fee: $20. Dishonored Convenience Check Fee: $20.

Advanta Business Cards are issued by Advanta Bank Corp., Member FDIC, pursuant to an Advanta Business Card Agreement. The Platinum BusinessCard is a MasterCard Executive BusinessCard. While the rates, indexes, margins, fees, and other account terms described here are typical of those recently offered and in effect on Advanta Business Cards and are expected to apply to your account, your account terms will be in every instance determined by us and reflected in your Card Agreement. Your Card Agreement also contains an arbitration provision, which replaces the right to have claims heard in court by a jury and also precludes participation in class actions. The terms of your account, including APRs, are subject to change in accordance with your Card Agreement, which you should read carefully and retain.

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Finding the right bank for your needs can be a tough decision, but it is important that you choose the right establishment to handle your money. Choosing the wrong bank can cost you time and money, and although choosing your nearest bank might seem convenient, you could be missing out on the best deals.

Different types of banks

Although there might seem like there is a limited choice, if you are looking for a simple bank account then there are a large number of institutions that you can look at. As well as traditional banks there commercial banks, credit unions, private banks and online banks but to name a few. You should look at all these options to make sure that you get the best deal to suit your needs.

Service features

The first thing you need to consider when choosing a bank is what sort of service features you are looking for. You need to determine your needs and then compare these with the list of products that a particular bank offers. If you are in the market for a simple checking or savings account then there are likely to be a lot of potential candidates. However, if you are looking for something more specific then there might only be a few likely sources. You need to look at the level of service the organisation can provide and whether this meets your needs.

Convenience

Although automatically choosing your nearest bank isn’t always the best option, convenience is a factor to take into consideration. If you need to use branch services then you need to consider how close the nearest branch is to your home or place or work. You also need to look at whether they offer online or telephone services, and what their hours of work are. You may find a bank with great services, but if the branch is 20 miles away and they are rarely open then you won’t benefit from these services.

Size

Banks and financial institutions greatly vary in size, so you need to consider what sort of bank you want to use. If you want to use a small banking corporation that offers more personal service, then you might have to sacrifice cheaper rates. You should compare the costs and levels of service in the small and large banks in your area to determine the best balance for you.

Fees and rates

Perhaps the most important aspect when looking for a bank is how high their fees and rates are. Many banks are similar in terms of products offered and service levels, and most of the major chains will have a branch near you. However, the thing that might separate the winner from the loser is the rates and fees they can offer you. If you are looking for a particular account or product, look at the costs for each bank. If everything else is equal, then go for the bank with the lowest fees and rates. Banking is all about saving yourself time and money, so the bank with the best rates and a good service level is usually the best choice.

Transfer your balance to Advanta Platinum Business Card

Eighty one percent of regular American households own at least a single credit card, making credit card ownership extremely popular nowadays. This high percentage rate is attributed to the convenience and benefits of using credit cards for purchases instead of using cold hard cash. There are also other additional features of credit cards (such as reward system and applicable discounts) that helps an individual generate savings out of what he/she spends using that card.

However, many financial experts stressed out that these facts are not just within the positive aspects alone. In fact, most of the credit card holders who belong in that 81 percent possess more than $8,000 worth of credit card debts. The accumulation of such huge credit card debts is attributed to several factors such as the consumer's lavish lifestyle and unnecessary spending.

But one of the most common "suspects" in accumulating huge credit card debts is the interest rate.

According to a certain consumer credit website, a single credit card has an average interest rate of 18.9 percent, or relatively close to 20 percent worth of interest rate payments. With this high interest rate (this is just only the average) it will really lead the credit card owner to huge debts, especially if he/she has a lavish lifestyle.

Let us get deeper into the nature of interest rates. These rates are typically charged by the credit card company once the owner had accrued several balances on his/her due payments. In most cases, individuals tend to pay the required minimum credit card balance only, as shown by the 48 percent of the total 81 percent of credit card owners.

If you are only paying the minimum balance of your credit card, the tendency is the remaining balance (or the accumulated excess of the minimum balance) will just be carried over the next monthly billing period, which will worsen the situation. The remaining balance will pile itself, resulting to higher accrued debt, which is commonly hard to pay since the same interest rate will be applied on that higher accrued debt.

At this point, you need to apply for a low interest credit card. You will be provided with low introductory APR (annual percentage rate) which will lower your monthly interest rate payments. However, most financial experts argued that low interest credit card just motivates individuals to make more purchases. Since the interest payments are now easy to handle, you will think that it is okay to make many purchases.

Hence, before you apply for low interest credit card, you need to consider several things that you can use to evaluate and interpret several facts about low interest rates applied on these credit cards.

1. Most of low interest credit cards are offered as an introductory promo, making it an effective strategy in attracting more clients. Most individuals are accumulating larger credit card debts because they fail to understand that this introductory promo is limited within a certain period of time.

2. The effect of neglecting the fine print of credit cards is the worse thing that you can experience. In fact, almost 75 percent of credit card owners who accrued huge debts were not able to understand the things written on the fine print of their credit cards. Most of them confessed that they have just signed up immediately without reading the fine print.

Before you apply for any low interest credit card, make sure that you analyze it first or else, you will be counted among the majority of the 81 percent of credit card owners who have more than $8,000 worth of credit card debts.

Raise your credit score with a help of Credit-Rocket! Read the Chase credit card reviews

Tired of high charges? Find the best database for credit cards! Read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance.