Review: M&T Bank Business Credit Cards | Fora Financial Blog
Review: M&T Bank Business Credit Cards
February 01, 2019

Review: M&T Bank Business Credit Cards

M&T Bank is one of the most popular banks on the east coast, with branches in New York, New Jersey, Pennsylvania, Maryland, Washington D.C., Virginia, West Virginia and Florida. Based out of Buffalo, New York, M&T Bank offers two credit cards option – the M&T Business Credit Card and the M&T Business Rewards Credit Card.

If you’re looking for a business credit card, M&T’s cards are worth considering because they offer reasonable rates and competitive fees. In this post, we’ll examine both cards so that you can determine if one of them is right for you.

The Credit Cards’ Features

The M&T Business Credit Card and M&T Business Rewards Credit Card share many of the same benefits. Before covering the differences between these two cards, let’s first review some of the common features.

Common Features Include:

  • No annual fee
  • Introductory zero percent APR for first 12 billing cycles
  • No foreign transaction fees
  • Chip technology makes transactions easy world-wide
  • Compatible with Apple Pay, Google Pay, and Samsung Pay

In addition, you can easily set up free credit cards for employees,

establish spending limits, and manage your account from the M&T Mobile app. Further, you’ll be protected by the M&T Assurance, which provides fraud prevention, detection and resolution.

Let’s examine the terms and conditions for both cards.

M&T Bank Business Credit Card Terms

Both M&T credit cards feature competitive fees and terms. In fact, you’ll have 25 days from the end of the billing cycle to make your payment and won’t be charged interest if you do.

Here’s the list of fees and penalties that come with these cards:

  • 24.25 percent APR on cash advances and overdraft advances
  • 3 percent cash advance fee (minimum $10)
  • $12.50 overdraft transfer fee, maxing out at one per day
  • $35 late payment fee
  • $25 returned payment fee

If you’d like to learn more about the terms and conditions for both cards, click here.

The Differences Between the M&T Business Credit Card and M&T Business Rewards Credit Card

The M&T Business Credit Card features variable APR rates ranging between Variable APR of 12.24 and 19.24 percent, based on your credit score. The M&T Business Rewards Credit Card features higher interest rates, set between 14.24 and 21.24 percent. However, with the Business Rewards card, you’ll gain access to generous rewards, including:

  • A one-time $100 cash bonus if you purchase $500 in the first three months
  • 1.5 percent instant cashback on every purchase

In addition to the instant cashback, you’ll also accrue points that can then be spent on a variety of products and services. You’ll be able to purchase gifts, such as hand bags and gift cards for Walt Disney World resorts, among other choices. You can also use your points for discounts on airfare with any major U.S. airline and you won’t have to deal with any blackout dates.

If you’d like to learn more about the rewards program, visit the M&T rewards site.

Conclusion: Choose the Credit Card That’s Right for You

Both the M&T Business Credit Card and the M&T Business Rewards Credit Card are compelling options. While the M&T Business Rewards card features slightly higher interest rates, the cashback benefits and sign-up bonus are generous. If you won’t use the rewards program, however, the M&T Business Credit Card may be a better choice.

You can apply for both cards at any M&T branch location. To find a branch, click here.

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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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].