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The Advanta Platinum Business Card with Rewards was last reviewed on 9th February 2008
Summary - The Advanta Platinum BusinessCard with Rewards is a business credit card that gives you a choice between a cash rebate program and a business reward program. The best feature about this card is that is has a very low apr and probably the best balance transfer deal in the market today. Find out more about this card.
Cash Rebate Formula - Cardholders can opt for either the cash rebate or rewards program. If you choose the cash back program, you can earn 5% rebate for gasoline and diesel purchases, computers, computer supplies, electronics and office supplies, utilities and telecommunications. You earn 1% rebate on other purchases.
Reward Program - If you choose to earn rewards, you earn one point for every dollar spent on purchases. Points can be redeemed for travel and shopping rewards. Unlike the cash rebate program, you can earn unlimited points. Points are valid for 36 months (3 years).
The Advanta rewards program consist of both travel rewards, a few shopping merchandise and gift certificates. For airline tickets, you need 25,000 points to get a free roundtrip ticket within the continental US. This is the standard rate among reward programs. In terms of shopping merchandise, Advanta has only one partner, Trek Recreational Hybrid bicycles. Below is a list of partners where you can exchange points for gift certificates.
Gift Certificates of Advanta Rewards
| Advanta Bonus Cards |
Darden Restaurants |
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| Avis |
Dillards |
Royal Caribbean International |
| Barnes & Nobles |
Hyatt Weekend Certificates |
SpaWish.com |
| Best Buy |
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Staples |
| Blockbuster |
Macy |
Home Depot |
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Marriott Cheque |
Ritz Carlton |
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Marriott Worldwide Select |
Sharper Image |
| CompUSA |
Orvis |
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Fees and Rates - The Advanta Platinum Business Card with Rewards has no annual fee for both the main card and additional employee cards. The apr is is prime rate plus 0.24%. You also get a 0% apr on balance transfers for 15 billing cycles. This is possibly the lowest apr for any business credit card and the balance transfer deal is also the longest of any business credit card available.
Online Account Management - Advanta cardholders get benefits like free online account management, and detailed expense reports. Statements can be downloaded to Microsoft Money, QuickBooks or Quicken. Limits on employees cards can be set individually. You can get a credit line of up to $50,000.
Verdict - Is this card right for you? Well, it depends how you look at it. As a business cash rebate card, the rebate formula is actually very good as you can earn 5% rebates for common business expenses.
If you choose to earn reward points, you get a better deal in the sense that you can earn unlimited reward points. While there are travel rewards, the number of merchants for merchandize and gift certificate rewards is low compared to other reward programs, which are much more comprehensive than Advanta's program.
However, the area where this card really shines is the balance transfer deal and the interest rate. There is no business credit card today that offers a 0% apr for 15 months on balance transfers. The apr is also very low at prime rate plus 0.24%. Hence, if you have very good credit, and are looking for a business credit card to transfer your balance and have a low on-going rate thereafter, the Advanta Platinum with Rewards is the card to get.
Positives
Low aprGreat balance transfer dealChoice of cash rebate program or travel reward programNo annual feeNo additional card fee
| Advanta Platinum Business Card with Rewards |
| Rewards |
| Rebate Formula |
Earn 5% rebate on eligible business purchases, which includes gasoline and diesel purchases, computers, computer supplies, electronics and office supplies, utilities and telecommunications
Earn 1% rebate from other purchases |
| Business Reward Formula |
Earn 1 point for every dollar spent on purchases |
| Caps on Points |
Earn unlimited points |
| Points Expiry |
36 months |
| Benefits |
Free Online Account Management
Detailed Expense Management Report |
| Cost/Fees/Interest rates |
| Introductory rate |
0% introductory APR for balance transfers for 15 billing period |
| Annual Fee |
No annual fee |
| Purchase APR |
Prime Rate Plus 0.24% |
| Balance Transfer APR |
7.99% |
| Cash Advance APR |
Prime Rate plus 0.24% or 12.4% |
| Penalty/Default Rate APR |
The higher of account apr plus 3% or Prime Rate plus 22.74% |
| Min Finance Charge |
$1.00 |
| Grace Period |
20 days |
| Balance Transfer Fee |
3% min $5.00, max $50.00 (during introductory period) |
| Cash Advance Fee |
3% min $5.00 |
| Convenience Check Cash Advance fee |
3% min $5.00, max $50.00 |
| Over-the-credit-limit fee |
$15.00 - less than $501.00
$29.00- between $501.00 and 1,001.00
$39.00 balances over $1,001.00 |
| Late Payment fee |
$15.00 - less than $250.00
$39.00 balances over $250 |
Apply for the Advanta Platinum with Rewards
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