About the card

The Advanta Platinum Business Card with Rewards is issued by the Advanta Bank Corporation.  It is a reward card that allows you to earn points that can be redeemed for cash, plane tickets, Visa gift cards or other items.

The basics

• Variable APR of 7.99% for purchases (prime plus 2.74%, with a minimum of 5.25%)
• Variable APR of 7.99% of 19.99% for cash advances (prime plus 2.74% or 14.74%, depending on creditworthiness)
• Fixed APR of 7.99% for balance transfers
• 3% transaction fee on balance transfers and cash advances ($5 minimum and no maximum)
• No annual fee
• No grace period on balance transfers and cash advances
• Grace period on new purchases when current and previous statements are paid in full
• Late fee:  $19 for balances under $150, $39 for balances of $150 or more
• Over the limit fee:  $15 for balances under $501, $29 for balances between $501 and $1,001, $39 for balances of  $1,001 or more

The perks

• Earn one point for every dollar in purchases
• No limit on the number of points that can be earned, but unused points expire after 36 months
• Points can be redeemed for cash with a minimum of $50 per redemption (1,000 points equals $10)
• Points can be redeemed for airline tickets (You can get a $400 round trip ticket for 25,000 points, plus a $15 redemption fee.)
• 0% introductory APR on balance transfer initiated within the first 15 months ($90 maximum transaction under this offer)

Credit card review

The Advanta Platinum Business Card with Rewards from the Advanta Bank Corporation is a reward card that allows you to accumulate points that may be redeemed for cash, plane tickets, gift certificates or other merchandise. Overall the card has reasonable terms and conditions and great introductory offers.

Under the introductory balance transfer offer, you get 0% APR for 15 months.  However, Advanta does stipulate that incoming transfers can only come from other business accounts.  So if you were planning to transfer a balance for a personal or individual account, then sorry… no can do.

The card offers a flexible reward program.  Points can be redeemed for just about anything.  But unlike most reward cards, unused points expired after 36 months.  What do you do if your points are about to expire and you do not have enough accumulated to redeem?  Well… Advanta allows you to purchase points in increment of 1,000 for $10.  That way can buy enough points to cash out before your existing points expire.

The Advanta Platinum Business Card with Rewards has a tolerable APR of 7.99%, which is relatively low for a reward card.  However, the minimum finance charge per billing period is $1, which is double the average minimum finance charge for most cards.

On the face, the Advanta Platinum Business Card with Rewards appears to be a good card… low purchase APR, tier structured late and over the limit fee, cash advance APR can be as little as 7.99% (well below the norm).  Although the terms and conditions appear favorable, I noticed that some cardholders have accused Advanta of playing bait and switch games and poor customer service.

Overall rating

I give it 4.5 out of 5 stars, but if what the cardholders say is true… then I only give it 1 star.

Apply for the Advanta Platinum Business Card with Rewards from the Advanta Bank Corporation here.