If you’re looking for a low APR business credit card, the BB&T Visa Business Credit Card is a solid option: You get zero interest for six months, a low ongoing APR, and no annual fee.
It’s a good card for small business owners who want to make a big purchase and pay it off over time. If you have good credit, the BB&T Business Visa Signature offers solid rewards on every purchase.
But is BB&T the best option out there for credit card financing? We break down the pros and cons of the BB&T Visa and compare it to leaders in the low APR field.
One quick note about the BB&T Visa and Visa Signature: You have to apply in person for both credit cards, so you need to make sure you’re close to a BB&T branch before deciding that the card is right for you.
Entrepreneurs who need flexible financing will find the BB&T Visa Business Credit Card appealing. It offers 0% APR on purchases and balance transfers for six months, and an ongoing variable APR of 11.9% to 13.9% depending on creditworthiness. There’s no annual fee, and no additional charge for employee cards.
You also get access to Visa Savings Edge, which offers discounts on popular vendors like MailChimp, HostGator, Chevron, Bing Ads, and more. The card doesn’t have a rewards program, but it does provide warranty manager service, purchase protection, rental car insurance, and travel accident insurance.
If you have good credit, you can take advantage of the BB&T Visa Signature. It offers the same 0% APR period and ongoing interest rate as the BB&T Visa, but it ups the ante with 6,500 BB&T bonus points if you make a purchase within 90 days of account opening, as well as 1 point per $1 spent.
BB&T points are worth 1 cent apiece if you redeem for gift cards, so the bonus value is around $65, and the ongoing rewards rate around 1%. Like the regular Visa card, there’s no annual fee, and no fee for extra employee cards.
Get a BB&T card if:
Skip the cards if:
The SimplyCash Plus from American Express offers both a 0% APR period and good rewards. Its zero APR period is longer than the BB&T’s: no interest for nine months on purchases and transfers.
It also offers a higher rewards rate, with a 1% cash back base rewards rate, as well as 5% cash back on office supply stores and wireless telephone services (up to $50,000 spent annually) and 3% cash back on one of eight spending categories including restaurants, advertising, and gas (up to $50,000 spent annually).
The combination of zero interest and bonus rewards on typical business purchases makes the Amex SimplyCash an appealing offer. Like the BB&T cards, the SimplyCash has no annual or employee card fees; on the downside, there’s no signup bonus.
Assuming you hold the card for five years, if you spend at least $260 on the SimplyCash’s 5% bonus categories, the higher rewards rate will make up for the BB&T Visa Signature’s signup bonus. Alternatively, if you think you’ll have more than $5,600 in credit card debt after nine months, the SimplyCash’s longer APR will win out over the bonus. The SimplyCash offers better ongoing rewards and a longer 0% APR, while the BB&T Visa Signature makes a strong showing with its signup bonus.
Verdict: Small business owners who need more than six months to pay off their debts or want a dependable credit card with bonus rewards on typical business spending categories should take a long look at the Amex SimplyCash.
Apply for the SimplyCash Plus from AmEx
If you don’t need a zero APR period and want to maximize both rewards and simplicity, the Capital One® Spark® Cash is your guy.
With the Spark Cash, you earn a flat 2% cash back on every purchase, with no rotating bonus categories, spending caps, or convoluted redemption options. Every dollar you spend gets $0.02 cash back, period.
The card’s $95 annual fee is waived the first year, and there’s no additional fee for employee cards or foreign transactions. (If you aren’t a fan of annual fees, the Capital One Spark Cash Select has no fee and a slightly lower 1.5% rewards rate.)
Finally, you’ll get a $500 signup bonus when you spend $4,500 in the first three months.
The Capital One Spark Cash is the perfect option for great rewards and minimal headache. As a small business owner, you might not want to deal with having to strategically redeem your rewards for award travel or discounted gift cards. The card’s solid signup bonus makes it even more appealing: The $500 bonus covers the annual fee for nine years (since it’s waived the first year).
Verdict: If you don’t need the 0% APR period, the Spark Cash offers much better rewards.
The Capital One Spark Classic is one of the best average business credit cards out there: It has no annual fee and offers 1% cash back on every purchase. As we saw before, Capital One stakes its claim on no-frills, few-fees credit cards, and the Spark Classic is the perfect example. There’s no charge for employee credit cards, and it pays out in cash back, the simplest possible form of rewards.
It doesn’t have an intro APR period, and its ongoing APR is higher than the BB&T cards’. (See the issuers’ terms and conditions for the latest APR information.) However, if you’re having trouble qualifying for a “good” business credit card, this is a fantastic option.
Verdict: If you can qualify for a good-credit card, you should consider another option that offers either a 0% APR period or rewards. If not, the Spark Classic is the way to go.
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