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Review: Eastern Bank Business Credit Card Options
September 20, 2019
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Review: Eastern Bank Business Credit Card Options

September 20, 2019
Choosing the right credit card for your business can be a daunting task. The credit card you select must fit your business needs and maximize your business potential. Ultimately, getting the most out of your credit card can save you money and offer security as your company grows.

When considering business credit cards, you may want to research Eastern Bank’s offerings. Eastern Bank has four different business credit card options. All these cards come with the latest smart chip technology, which will keep your business information safe from fraud and theft.

These cards all have different capabilities and may benefit a variety of business owners. Of course, the most critical aspect of choosing a card is ensuring that it fits your business goals, so be sure to keep that in mind as you review the options.

Which Eastern Bank Business Credit Is Right for Your Business?

Visa Business Card:

The first option is the Visa Business Card. This card comes with great perks and can allow you to pay down your other debts as a new business. It doesn’t come with any rewards, but it does provide useful business management tools and multiple cards for your employees. You can even set limits on these cards and manage how your company spends money.

Here is a full breakdown of this card’s rates, perks, and fees:

  • Introductory zero percent annual percentage rate (APR) for the first 15 months of billing on purchases and balance transfers.
  • After the introductory period, your APR changes to a variable rate between 14.24 to 23.24 percent depending on your credit history.
  • No annual fees.

Visa Business Cash Card:

This card is a step up from the Visa Business Card due to its rewards. It includes many of the same benefits, such as business management tools and employee cards, but it also offers some additional rewards. Here is a full list of the rewards that come with the Business Cash Card:

  • 3 percent cashback on all eligible purchases from office supply stores, cell phone, internet, landline, and cable TV services.
  • 2 percent cashback on restaurant and gas station purchases.
  • 1 percent cashback on all other purchases.
  • No caps or limits on the cash rewards you can earn, and you have five years to redeem for cashback.
  • $25 cashback bonus after your first purchase.
  • No annual fees.

The rates for the Visa Business Cash Card are slightly different from the previous card:

  • Introductory zero percent APR for the first six months of billing on purchases and balance transfers.
  • After the introductory period, your APR changes to a variable rate between 16.24 to 25.24 percent depending on your credit history.

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Visa Business Real Rewards Card:

As the name suggests, the Visa Business Real Rewards offers attractive rewards. In addition, this card offers management tools and additional company cards for employees. Overall, its rewards program offers far more opportunities to save money than the cards we’ve covered so far.

With 1.5 percent cashback on your purchases and five years to redeem the rewards, there are plenty of opportunities to receive these benefits. The card details include:

  • Earn 1.5 points monthly for every $1 you spend on eligible purchases.
  • No cap or limit on the number of points you can earn, and you have five years to redeem for rewards.
  • 2,500 bonus rewards points awarded after the first purchase.
  • No annual fees.

Rates for this card:

  • Introductory zero percent APR for the first 6 billing cycles on purchases and balance transfers.
  • After the introductory period, your APR changes to a variable rate between 16.24 to 25.24 percent depending on your credit history.

Visa Business Real Rewards Plus Card:

The Real Rewards Plus Card offers the most generous rewards of all Eastern Bank’s credit cards. This card has most of the features that the other cards come with, while also providing 3X points on travel expenses.

The reward point details include:

  • Earn 3 points monthly for every $1 you spend the most on cellular phone service, hotel, or airline.
  • Earn 1.5 points monthly for every $1 you spend on eligible net purchases.
  • Earn 20,000 one-time bonus rewards points after you spend $2,000 in the first 3 months.
  • No cap or limit on the number of points you can earn, and you have five years to redeem for rewards.

This card comes with the first year free and then has a recurring annual fee of $99. If you or your employees travel regularly and you want to earn rewards points, this card could be a good fit for you.

Conclusion: How to Pick the Right Eastern Bank Business Credit Card

To make the best decision, compare the Eastern Bank cards to determine which one will best fit your business needs. In addition, don’t be afraid to review other business credit card providers, such as American Express. Having a credit card account can benefit your business, so take the time to ensure that you have the best possible card!

Fora Financial

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.

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Post by: Fora Financial
Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].