Advanta Platinum 90-Day Interest Free BusinessCard
Advanta has introduced a new business credit card that offers 90 days interest free on all purchases all the time. The Advanta Platinum 90-Day Interest Free BusinessCard charges no interest for 90 days on purchases and offers a business rewards program, all without an annual fee. Since the 90 day interest free period is not a promotional offer, and it can provide up to $50,000 in working capital, the card can be helpful for small businesses looking to better manage their cash flow on an ongoing basis.
While the rewards program allows redemption for travel, merchandise or cash, the cash redemption ratios are very weak. One point is earned for each $1 in net purchases and 15,000 points can be redeemed for a $50 check, which is equivalent to 0.33% cash back. It is, of course, better than nothing.
The main and only real reason to get this card is to take advantage of the perpetual 3 months of free float, which in itself would be attractive to many businesses.
Sounds Great, but you should have interviewed the true people who are paying for this offer, the current card holders who received their statements this month where the new interest rate was 35%!
Never been late, over limit once a year ago (which btw, they should decline it if I’m over my limit, but no, they don’t want you to use another card), been a good customer for 8 years. When I called they would not give me a reason, would not lower the interest, so I canceled the card and sold stocks to pay if off. Nice company…..just don’t do business with them.
Hi Helen, sorry to hear about your story. It seems to be a common one these days across all credit card issuers. Many readers have shared similar experiences where the bank has cut their limit or raised their rate seemingly arbitrarily in this post.
I am still sad that they discontinued the life of balance card. Advanta also doesn’t allow having multiple cards…
Any card now from Advanta is a Buyer Beware! They offer 0% or low interest rates for a balance transfer to their card. In their Terms and Conditions, they have a clause now that says they can change any of the terms and conditions of their agreement for any reason at any time. They have been rate jacking hundreds of small business owners for months now for anyone carrying a balance. I have seen as high as 44% so far. Most all of these small business owners had excellent credit and FICO scores and never even received an Opt Out notice before Advanta raised their rates. I would avoid getting an Advanta credit card like the Bubonic Plague.