M&T Bank Business Credit Card Review, Plus Top Alternatives

Sally Lauckner

Sally is the managing editor at Fundera. Previously, she was a senior editor at SmartAsset, a Y Combinator-backed personal finance startup. She has also held various editorial roles at the Huffington Post and AOL.com. She is passionate about financial literacy and educating small business owners.
Advertiser Disclosure

A good business credit card is a key business ally. If you’re a business owner—and especially one who has an account with M&T Bank—you might be mulling over an M&T Bank business credit card. M&T Bank offers two options: M&T Bank Business Credit Card and M&T Bank Business Rewards Credit Card.

In this guide, we’ll give you an in-depth summary of both M&T Bank business credit cards so you can determine if either card suits your needs. We also provide an overview of good alternatives to both of M&T Bank’s business cards so you can be sure you fully consider your options before picking a credit card.

Overall, the choice between both of the M&T Bank business credit cards comes down to whether a lower APR or a rewards program is more important to you. While both cards have no annual fee and an introductory APR offer, M&T Bank Business Credit Card has a lower variable APR thereafter. M&T Bank Business Rewards Credit Card, on the other hand, offers both a cash back program and a signup bonus.

The 2 M&T Bank Business Credit Cards Reviewed for Your Small Business

M&T Bank Business Credit Card

M&T Bank Business Credit Card is a basic, straightforward business credit card that does not offer rewards. There is also no sign-up bonus associated with this card. While you won’t enjoy these perks, you also won’t pay an annual fee. Additionally, the no-fee card offers a 0% APR on purchases and transfers for the first 12 billing cycles. After that introductory period is up, you’ll pay a variable APR based on your creditworthiness. M&T Bank bills the variable APR as “competitive.”

With M&T Bank Business Credit Card, you’ll be able to add employee cards at no additional cost. You can also manage users’ spending limits. This business card has no foreign transaction fee, which is a big perk for businesses that frequently travel abroad.

Top Alternative to M&T Bank Business Credit Card: Blue Business Plus Card From Amex

If you’re not wowed by M&T Bank Business Credit Card’s no-frills offerings, you may want to consider the Blue Business Plus Card from Amex. This card offers a three-month longer 0% introductory APR period that applies to both purchases and balance transfers. The card’s 15-month intro APR period is the longest currently on the market. Once that time is up, however, you’ll face a variable APR that’s dependent on your creditworthiness and the prime rate. This is especially worth noting if you’ll likely carry a balance from one billing period to the next. Like the M&T Bank Business Credit Card, there is no annual fee.

Aside from a longer intro APR period, what the Blue Business Plus Card has that M&T Bank’s card does not is a rewards program. For your first $50,000 in purchases annually, you can earn 2x points for every dollar you spend. For every dollar spent after that, you’ll earn 1x point per dollar you spend with the card. However, this won’t be the card for you if you’re more interested in cash back instead of points or if you want travel rewards.

Speaking of travel, one other area where the M&T Bank Business Credit Card comes out on top is foreign transaction fees. M&T Bank’s card has no foreign transaction fee, whereas American Express will charge a 2.7% fee for every transaction you make abroad with the Blue Business Plus Card. If you travel abroad frequently, this fee could quickly add up.

m&t bank business credit card

M&T Bank Business Rewards Credit Card

The other M&T Bank business credit card option is the M&T Bank Business Rewards Credit Card. The biggest differences between this card and the previously highlighted M&T Business Credit Card are the rewards program and the signup bonus. With the M&T Bank Business Rewards Credit Card, you’ll earn unlimited 1.5% cash back on every purchase you make. Additionally, you can earn 10,000 bonus points after you make $500 worth of purchases within the first three months of opening the card.

Like the M&T Bank Business Credit Card, there is no annual fee associated with this card. You’ll also enjoy a 0% introductory APR on both purchases and balance transfers for the first 12 billing cycles. After that, you’ll pay a variable APR based on your creditworthiness. The variable APR will also depend on the prime rate.

Similarly to the other M&T Bank business credit card option, this rewards credit card also allows you to add employee cards at no additional cost and to manage cardholders’ spending limits. The M&T Bank Business Rewards Credit Card also has no foreign transaction fee, which may make it an appealing option for businesses with frequent foreign travel.

Top Alternative to M&T Bank Business Rewards Credit Card: Capital One Spark Cash

If you’re looking for a higher cash back rate, you may want to consider the Capital One Spark Cash for Business. This card offers 2% cash back on every purchase with no caps, compared to 1.5% cash back offered by the M&T Bank Business Rewards Credit Card. This card also offers a signup bonus, though you’ll earn cash instead of bonus points. You’ll get $500 cash back when you spend $4,500 within the first three months. This breaks down to about $1,500 a month in average spending, so you’ll need to consider whether you plan to put enough business expenses on this card to take advantage of this welcome offer.

These rewards come at a cost. Unlike both M&T Bank business credit cards, the Capital One Spark Cash for Business has an annual fee of $95. However, Capital One will waive this fee for the first year. You won’t get a 0% introductory APR period though, which might not make it the right option for businesses that might want to pay off a hefty purchase over time. Like both M&T Bank card options, this card does not have a foreign transaction fee, making it a good fit for business owners who travel.

Who the M&T Bank Business Credit Cards Are Right For

By now, you should have a good idea of what M&T Bank’s business credit cards have to offer and what the key differences are between the M&T Bank Business Credit Card and M&T Bank Business Rewards Credit Card. In addition to these two cards, we’ve also highlighted a couple of alternatives so you have comparable credit cards to consider as you make your decision.

At the end of the day, you’ll need to decide whether you’ll be suited by a no-frills credit card with a lower variable APR after the introductory period or if you want a business credit card with a rewards program and the potential to earn a signup bonus. Both cards have no annual fee and no foreign transaction fees and also allow you to add employee cards at no additional cost—all attractive features for a business owner shopping around for a credit card.

However, if rewards are a top priority, then M&T Bank business credit cards might not be right for you. The M&T Bank Business Credit Card has no rewards program or signup bonus. While the M&T Bank Business Rewards Credit Card does have both, you may be able to find higher cash back rates with other credit cards, such as the Capital One Spark Cash for Business. If you’re more interested in earning rewards points than cash back or want a longer introductory APR period, the Blue Business Plus Card from Amex is worth a look.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Sally Lauckner

Sally is the managing editor at Fundera. Previously, she was a senior editor at SmartAsset, a Y Combinator-backed personal finance startup. She has also held various editorial roles at the Huffington Post and AOL.com. She is passionate about financial literacy and educating small business owners.

Our Picks