Citizens Bank Business Platinum Mastercard®
- Annual fee
- None
- Recommended credit
- Excellent / Good
- Card network
- Mastercard
- Intro purchase APR
- 0% for 6 months from account opening date
At a glance
The Citizens Bank Business Platinum Mastercard® isn’t particularly enticing but might be handy for product-based retail start-ups that require only a small amount of overhead (up to $25,00) whose owners have a less-than-stellar credit score and otherwise can’t qualify for better business card offers.
Our review of the Citizens Bank Business Platinum Mastercard®
Looking for a straightforward business credit card without all the bells and whistles? The Citizens Bank Business Platinum Mastercard® might be the right choice for you. With a 0% Intro APR for 6 months, no annual fee, and a potential for a low APR, this card is best suited for small businesses with a revolving line of credit up to $25,000.
The Benefits
One of the key features of the Citizens Bank Business Platinum Mastercard® is the 50 days of working capital grace period. This allows business owners to pay for charges accrued during their billing period without incurring any interest, giving you some breathing room to manage cash flow. Plus, the card comes with zero liability for unauthorized purchases, enhanced ID theft protection, and travel perks like travel accident insurance and emergency card replacement.
Fees & Penalties
While the APR for this card can vary between 10-20%, a late payment could result in a penalty APR in the upper 20% indefinitely. Additionally, there is a foreign transaction fee, making this card less ideal for international use.
Should You Apply?
If you’re looking for a no-frills business credit card that can help you manage cash flow and build credit, the Citizens Bank Business Platinum Mastercard® might be a good fit. Just be prepared to provide your business information and be aware of the potential fees and penalties associated with the card.
The Verdict
Overall, the Citizens Bank Business Platinum Mastercard® is a solid option for small businesses looking for a simple and cost-effective credit card solution. While it may not offer rewards points or flashy perks, its low APR and grace period can help you save money and manage expenses effectively. Consider applying if you meet the qualifications and are in need of a reliable business credit card.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- No annual fee
- 0% introductory APR on purchases for 6 months after account opening
- Lower interest rates than a personal credit card
- Zero liability for unauthorized account purchases
Who this card may suit
- You're a small business owner looking for a simple and straightforward card
- You will take advantage of an introductory 0% APR offer on purchases for the first six months
- You want a card with no annual fees
- You don’t mind passing up rewards or signup bonuses
Rates, fees and terms
| Annual Fee | None |
|---|---|
| Intro Purchase APR | 0% for 6 months from account opening date |
| Regular Purchase APR | 13.24%, 19.24%, 22.24% or 24.24% variable based on creditworthiness and the Prime Rate |
| Cash Advance APR | 28.49% variable with the market based on the Prime Rate |
| Cash Advance Transaction Fee | Either $10 or up to 5% of each advance, whichever is greater |
| Foreign Transaction Fee | Either $1.50 or 3% of the U.S. dollar amount of transactions, whichever is greater. |
| Penalty APR | 27.49% |
| Late Payment Penalty Fee | $39 |
| Return Payment Penalty Fee | $20 |
| Over Limit Penalty Fee | $39 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Excellent Credit Good Credit.
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Citizens Bank Business Platinum Mastercard®
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