It’s important that your business credit card supports both you and your business. The right business credit card can help you make purchases, build credit, and even earn rewards sometimes, too. For example, if you’re just starting out and have some big purchases on the horizon, a credit card with a long-term 0% introductory APR period can act as a safety net while you pay off those expenses. On the other hand, maybe you’ve been in business for a while and are ready to start using a business credit card that allows you to earn extra perks and rewards, like discounts on certain expenses for your business.
Either way, if you’re reading this review, you’re likely interested in learning more about Regions Bank’s business credit card offerings. Regions Bank offers two business credit cards. Each is slightly different in its offering, with one simpler account and one premium card with more perks. Plus, neither account charges an annual fee, making them more affordable options than some other business credit cards. Regions Bank operates in 14 Southern and Midwestern states. You’ll need to operate in these states to open and benefit from a Regions Business credit card. This makes these cards solid options for business owners who already have a personal or business Regions account or who have a small business loan from Regions.
Factors to Keep in Mind When Shopping for a Business Credit Card
Your business credit card should make running your business easier, not more stressful. For starters, it’s great to find a card that doesn’t charge an annual fee. Fees have a pesky way of digging into your hard-earned savings. Finding an account without an annual fee means one less thing you have to worry about, especially when you should be focused on your business.
Additionally, do you need a card that offers a period of 0% APR? Finding a card with this feature can help you out if you have a major business purchase to pay off. If the offer also includes balance transfers, that means you could transfer a larger debt to this new card and pay it off more easily. It gives you some breathing room to make your payments at your pace, without adding anymore stress or debt.
If you’re ready to start earning rewards on your business spending, look for the cards that offer the best rewards rates. This includes not only how many points or how much cashback you earn, but also how you can redeem those rewards. You’ll want to make sure you get the most bang for your buck. Plus, a signup bonus is a fun perk to look for when shopping around. A bonus rewards you for spending a certain amount within the first few months of owning the card. That can get your rewards started off with a bang.
The 2 Regions Business Credit Cards Reviewed:
Regions Visa Business Credit Card
- $0 annual fee
- 6-month 0% introductory APR period
The Regions Visa Business Credit Card is an option to consider if you’re looking for a simple, everyday business credit card. It doesn’t charge an annual fee, which is an automatic plus. The card also offers a 0% introductory APR on purchases. The introductory period doesn’t last for very long, however, ending after only six months. This means you’ll need to act quickly to take advantage of the lack of the 0% APR. So if you need to make any big purchases, make sure you can pay it all off before your regular interest rate kicks in.
After the introductory period, your APR will vary depending on your Regions account level, the Prime Rate, and your own creditworthiness. Note that the 0% intro APR does not apply to balance transfers—a regular APR will apply to those and you’ll also have to pay an extra fee worth 4% of the balance transferred.
The biggest drawback to the Regions Visa Business Credit Card is that it is devoid of any rewards or cash back structure. If you’re in the market for a business credit card because you’re hoping to earn on your business spending, you’ll have to look elsewhere.
Top Alternative to Regions Visa Business Credit Card: Blue Business Plus From Amex
Regions’ six-month introductory period is pretty short and doesn’t give much of a safety net to pay off purchases. Nor does it include balance transfers, which could be handy if you have other debts with high interest rates. In that case, you could turn to the Blue Business Plus Card from American Express, with its 12-month 0% intro APR on purchases. This card also doesn’t charge an annual fee.
In addition to those perks, the Blue Business Plus Card earns rewards, too. You earn 2x points per dollar on the first $50,000 you spend on the card. After passing that threshold, you’ll earn 1x points per dollar.
Regions Visa Business Enhanced Credit Card
- $0 annual fee
- 6-month 0% intro APR for purchases and balance transfers
- 1 Regions Relationship Rewards point per $1 spent
The Regions Visa Business Enhanced credit card is definitely the flashier of the two Regions Bank business credit cards. It also doesn’t charge an annual fee but you’ll be able to earn rewards on your purchases with this card. For every dollar you spend, you’ll earn 1 Regions Relationship Rewards point. This applies to qualifying purchases, which doesn’t include wire transfers, money orders, traveler’s checks, lottery tickets, casino chips, any unauthorized purchases, any fees or interest charges.
Just like the Visa Business card, the 0% introductory APR lasts for six months. Again, if you’re in need of extra time to pay off purchases without accruing interest, this gives you a little room (but not a ton) to do so. This Enhanced account includes further Visa perks like up to 15% discounts on business purchases through the Visa SavingsEdge program and Visa Purchase Security.
Top Alternative to Regions Visa Business Enhanced Credit Card: CapitalOne Spark Cash for Business
If you’re looking for a rewards card that’s, well, a little more rewarding, the CapitalOne Spark Cash for Business is a good alternative. The card earns unlimited 2% cash back on every purchase with no limit to how much you can earn.
The card’s $95 annual fee could be a drawback for some business owners, though, as it’s pretty high and can detract from your cashback earnings. CapitalOne does waive the fee for the first year. So if you get this card, make sure you’re ready for the fee when it hits after you’ve had the account for a year.
Is a Regions Bank Business Credit Card Right for You?
Broadly speaking, a Regions Bank business credit card makes the most sense for business owners who have an existing relationship with the bank—whether that’s a business loan, business bank account, or even a personal bank account. Some people prefer to keep all their financial products with a single institution, and if that’s the case for you, a Regions Bank business credit card could certainly be the right fit for you.
If you’ve already determined that you do want to open a Regions Bank business credit card and you’re simply trying to decide between the two options, the choice should be fairly simple. It just comes down to whether you want to earn rewards for your business spending. If so, the Regions Visa Business Enhanced credit card will be the card for your needs. Just note that the rewards system isn’t the most robust, with one point awarded per $1 spent; you can certainly find better business credit card rewards systems elsewhere. The Regions Visa Business Enhanced does offer an introductory APR period, so you can take advantage of that for six months, too.
The Regions Visa Business credit card would really only appeal to business owners who want the simplest and most straightforward credit card to make purchases. Its short-term introductory APR can help business owners who might have some smaller purchases to pay off, as it allows you to make payments without accruing any more interest.
Both Regions Business Credit Cards provide access to handy business solutions like merchant services, collections and cash management tools. You can also use CashCor® and iTreasury, which help you gauge how your business is performing, and Quicken/QuickBooks Access. Plus, should you ever need assistance, Regions Bank provides customer service at branches, online and mobile, over the phone and even through social media, so you can contact them wherever and whenever.
Ultimately, there are far better business credit card options out there than either of the Regions Bank business credit card offerings. So, like we mentioned earlier, unless you’re dead set on keeping all your financial products with a single institution and you’re already a Regions Bank customer, you’ll likely want to consider one the top alternatives to the Regions Bank business credit cards highlighted in this review.