Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Thursday, September 25, 2008

No Preset Spending Limit with the Advanta Business World MasterCard®

Advanta Business World MasterCard®We've added the Advanta Business World MasterCard® to our lineup of recommended business credit cards. This card does not come with an attractive 0% balance transfer offer, and it the purchase APR is currently 16.99% (indexed to Prime.) So why do we like this card?

Because for certain individuals this card could be a very nice fit. Those small business owners who pay their credit card bills in full each and every month -- thus avoiding any finance charges -- will almost certainly find the "no preset spending limit" aspect of this card attractive. This card is very unique: it's a credit card with no preset spending cap. Usually, only charge cards like the Gold Card from American Express card have no preset limit.

Here's a clip from the Advanta Business World MasterCard terms and conditions:

"....Because your account has no pre-set spending limit, we may permit you to incur charges that cause your balance to exceed your revolving credit limit. We may evaluate each such charge based on your account performance with us and your experience with other creditors. Any amount that we allow you to spend above your revolving credit limit will be due in your next statement, but we will not charge you an overlimit fee. All rates, fees and comparisons are valid as of April 1, 2008 but not necessarily thereafter. You should consult your tax advisor as to the proper tax treatment and deductibility of any business expenses, including the cost of credit..."

No need to worry about being charged an over-your-credit-limit fee, ever. But, if you do go over your credit limit, be prepared to pay whatever amount you go over when your next statement arrives. If you want to spend above your limit but Advanta decides not to permit the overage, the charge will be declined.

Interested? Click here to apply.

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