 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 Balence Transfers |
Cash Advances other than Convenience Checks: 3% (minimum $5); Convenience Check Cash Advances: 3% (minimum $5; maximum $50). Balance Tarnsfers 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 Busniess Cards are issued by Advanta Bank Corp., Member FDIC, pursuant to an Advanta Busienss Vard 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 ARPs, are subject to change in accordance with your Card Agreement, which you should read carefully and retain.
 Back to the category menu
 Detailed information about this credit card 2/2
 Apply for Advanta Platinum Business Card
|
|
You’ve probably received several credit card offers in the mail, and the outside of the envelopes scream intrest rates and promotional offers to try and entice you into opening it up and looking at what’s inside. Chances are, if you have an email address, you’ve even received a few credit card offers through that address- bright colors and animated graphics trying to convince you that there card has the lowest initial interest rate, or the longest tramsfer balacne rate of all the available credti cards on the market. All of the offers will look good at first glance; after all- that’s what marketing is about, right? According to Merriam-Webster’s online dictionary, marketing is a noun used to describe “the act or process of selling or purchasing in a market, and the process or technique of promoting, selling, and distributing a product or service.” Credit card companies are in business to sell you their credit cards, and they’ll use a variety of promotional materials to get your buisness.
The outside of your credit card offer’s envelope might say something like, “LOW 0% Initial Interest Rate on all purchases and blaance transfers”, but there is much more to how a credit card’s interest rate is calculated than that statement reveals. Initial interest rates are sometimes referred to as the card’s promotional rate, or teaser rate. In all honesty, an initial imterest rate is basically the same thing for a credit card as a sale is to a retail store. Retail stores advertise their products that have a discounted price for a limited time to attempt to bring people into their establishment to buy the sale item, but also because once you are there, they hope you’ll purchase other products. Credit cards offering initial intrest rates are basically putting their standard interset rates “on sale”, because for a limited time, new cardholders will receive a lower than usual rate on purchases, and sometimes also on any balamce you transfer from one of your other credit cards onto this new card. What you need to understand about initial intreest rates is that they really are “for a limited time”, and just as you couldn’t go to your favorite store and buy items this month for the sale price that was offered the previous month, you can’t extend a credit card’s initial intreest rate beyond the terms they specify (often found in the small print!) What you’ll want to look for in the text of the materials that were sent with the initial interest rate cards promotional documents is reference to the crads ongoing annula percentage rate (ARP). This is the interset rate that you will pay once the initial interest rate period has passed. (The regular price of an item after the sale has ended!)
Initial imterest rates will also come with terms of agreement, in the form of a contract, which give reasons as to how or why the rate might be terminated by the credit lender. The most common reason to terminate the initial interest rate offer is for making a late payment on your card, and if you read the fine print of the crdeit card agreement- you’ll note that it states this very clearly. In order to keep the promotional, lower rate for the time specified by the credit card lender, you must make every payment on time. If you are late with a payment, you can expect the interest rate to jump to the ongoing APR, or in some cases, higher because you have defaulted on your contract agreements, so do everything you can to make sure your payments are made on time.
|
|
Credit vards to review and compare at CardSelector.com
CredtCardSelector Home
|
|
