Choosing a business credit card can be tough. Of course, you could go with a card from the bank that offers your business bank account, but it’s also worth knowing what else is out there. In this review, we’ll walk you through the Webster Bank business credit card options and take an in-depth look at the cards’ rewards and features. We’ll also give you a few tips on how to choose the business credit card that meets your needs.
A note about the Webster Bank business credit cards before we dive into the specifics of each card. All of the cards described below come with expense management tools that will help you keep track of the spending on your card. There is no fee for additional employee cards with any of the Webster Bank business credit cards—great news if you have a big team. All four cards also come with EMV smart chip technology, which is a fancy way of saying they have strong security features in place. Finally, all four cards allow for mobile payment. And with Webster Bank’s 24/7 online banking capabilities, you can check on your card activity any time. That can be great for your peace of mind as a small business owner.
Webster Visa® Business Platinum Card
First up on our review of the Webster Bank business credit cards is the Webster Visa® Business Platinum card. This card is great if you need to pay down balances from other cards. It lets you save on interest during the introductory 0% APR period. The exact length of that introductory 0% APR period isn’t immediately clear on Webster’s website.
When we contacted Webster Bank to inquire about the intro APR period, we were told that customers should contact the credit card issuer, Elan Financial, for specifics. That’s worth mentioning as it seems that Webster Bank doesn’t directly handle customer service for their business credit cards. If you’re considering opening a Webster Bank business credit card because you’re a fan of the bank itself or the service they provide, that’s something to keep in mind. We do know that once that introductory period ends your balance (if you have one) will be subject to a variable interest rate that will depend on your creditworthiness and the market prime rate.
The Webster Visa® Business Platinum card is not a rewards credit card. You won’t rack up points or cash back for your purchases. The card doesn’t come with a signup bonus, either. So if you’re looking for a card with some bells and whistles, the Webster Visa® Business Platinum card probably isn’t the one for you.
It’s often the case with business credit cards that there’s a tradeoff between the generosity of the introductory APR offer and the generosity of the rewards. Some cards will only do one or the other. Of course, there are exceptions to this rule, such as the AMEX Blue Business Plus card.
The AMEX Blue Business Plus comes with a generous 12-month introductory 0% APR, after which your interest rate on the card will jump to a variable rate that will be based on our creditworthiness and the market prime rate. The card also offers 2x points on the first $50,000 you spend annually, plus one point for every dollar you spend after that. It’s a generous card that combines a lengthy break on interest charges with competitive rewards on your spending.
Webster Visa® Business Cash Card
The second Webster Bank business credit card on our roundup is the Webster Visa® Business Cash Card. With this card, you’ll earn 3% cash back on all eligible net purchases you make at office supply stores, or on phone and TV services. Eligible restaurant and gas purchases will earn you 2% cash back, and all other purchases will earn you 1% cash back. Plus, you’ll get a $25 cash back reward when you make your first purchase.
Wondering whether a cash back card or a points card is right for you? If you want to optimize your rewards, you’ll need to do some number crunching that takes into account the rewards rates on the cards you’re considering, as well as your average annual spending in the relevant rewards categories. But you can also consider how much work you’re willing to put into redeeming your rewards. Generally, cash back cards allow you to take a more hands-off approach to getting credit for your purchases, while points cards often require you to redeem your points through a special online portal.
It’s worth considering an alternative to Webster Visa® Business Cash Card that also offers cash back for business purchases. The top option is the Chase Ink Business Cash credit card, which offers 5% cash back on your first $25,000 of purchases per year at office supply stores and on phone, internet, or cable TV services. The rewards don’t stop there. You’ll also earn 2% cash back on the first $25,000 you spend per year on gas and restaurants, plus 1% cash back on all other purchases. Depending how your spending breaks down, the Chase card could net you serious rewards, especially if your spending is concentrated in that 5% rewards category.
Webster Visa® Business Real Rewards Card
The Webster Visa® Business Real Rewards Card is the third card on our list. It gives you 1.5 points for every dollar you spend on eligible net purchases. Webster notes that this works out to 1.5% cash back, for those of you keeping score. There are no caps or limits on the number of points you can earn, and you have five years to redeem your rewards before they expire. Plus, with your first purchase you’ll get 2,500 bonus rewards points.
A rewards card that comes with a flat reward rate can be nice if you don’t like keeping track of tiered rewards across business categories. You might not optimize your rewards with a flat-rate card, but you also won’t be doing complicated mental math to figure out how many points you’re earning per day, week, or month.
Another card that offers the simplicity of a flat rewards rate is the Chase Ink Business Unlimited. The Chase Ink Business Unlimited boasts the same 1.5% rewards rate—in this case, the rewards come in the form of cash back as opposed to points. On top of that, the Chase Ink Business Unlimited comes with a welcome bonus of $500 if you spend $3,000 in your first three months as a cardholder. That’s a nice signup bonus, but only if you meet the spending minimum. And as always with cards that offer a welcome bonus, it’s important not to overspend just to chase a reward. If spending $3,000 in three months is way outside of your normal budget, it’s probably unwise to up your spending just to nab that reward.
Webster Visa® Business Rewards PLUS Card
The fourth and final card on our list of the Webster Bank business credit cards is the Webster Visa® Business Rewards PLUS card. It’s a rewards card with tiered rewards rates. As a cardholder, you’ll earn 3x points for every dollar in the category you spend the most on out of the following categories: cell phone service, hotels, or airline purchases. Plus, you’ll earn 1.5x points for every dollar you spend on all other eligible net purchases.
As a welcome bonus, you’ll earn 20,000 rewards points once you spend $2,000 in your first three months as a cardholder. There is no limit on the rewards you can earn, and you have five years to redeem your rewards.
Welcome bonuses on business credit cards can surpass the 20,000 you’ll get with the Webster Visa® Business Rewards PLUS card. For example, the Chase Ink Business Preferred card offers a much better welcome bonus. However, the Chase card comes with a $95 annual fee, which could be a dealbreaker for the fee-averse. Depending on the spending category, you’ll earn either 3x or 1x points per dollar you put on the Chase Ink Business Preferred card.
As always when you’re considering a business credit card with an annual fee, it’s a good idea to run the numbers to see if you’ll earn enough rewards to make the annual fee worth it. If you’re anticipating only light spending on the card, it may be better to opt for a card with no annual fee. If, on the other hand, you and any employees you add to the card account will be swiping right and left, an annual fee card could be worth it if the rewards are generous.
Is a Webster Bank Business Credit Card Right for Your Business?
Assuming you have a high credit score, you’ll have plenty of options when it comes time to choose a business credit card. In fact, the options available to you might be a little overwhelming. Asking yourself some important questions can help you zero in on the card that fits your needs. Do you prefer points or cash back—or whichever nets you the most generous rewards? How much do you spend in each category per month and per year? Do you need an introductory 0% APR on purchases and balance transfers to give you some breathing room on interest payments?
Once you have answers to the questions above you can more easily choose a business credit card—whether that’s one of the Webster Bank business credit cards or a card from another provider. We’ve walked you through the features of the Webster Bank cards, and described the top alternative to each card. Now it’s up to you to do the heavy lifting of picking a card, applying in person, online, or over the phone, and using that card responsibly to help you meet your business goals. A business credit card with great perks and rewards can boost your bottom line, and if you’ve got the credit score to qualify for a generous card you might as well take advantage of the offerings that are on the market.