0 Interest Capital One Business Platinum Visa

It’s important to separate the credit on your own business and your personal spending. And you certainty like to have a 0 interest credit card for personal spending, so why not have the same for business related purchases?

It’s not advisable for you to spend business related expenses on your personal credit card because your personal card has a 0 interest offer. Aside from the 0 interest offer, your credit cards usually also reward purchases with points or cash backs. Earning rewards on your personal card with company purchases can be a very grey issue. How to credit rewards to your company’s books? Where does company liability end and yours begin?

Besides, your business credit history and own personal credit shouldn’t be the same one. Business tends to require larger purchases which could increase your debt ratio significantly. This is especially so for start ups with a lot of spending, your credit rating might go down and ultimately the interest you have to pay on your loans will increase.

Payments you make on your business should go into a separate business account. Credit cards on business accounts usually have higher credit limit and usually also have rewards and programmes better catered towards businesses.

To be professional and transparent on company records, its best that your business runs on its own credit card account instead of sharing with yours. But you’re probably thinking, what about that 0 interest rate offer? The Capital One Visa Business Platinum is a card that gives you just that, at the same time, it is also a specialised business credit card. The card is registered under the corporate identity and not your personal identity, thus it will have an independent credit history separate from yours.

The Capital One Visa Business Platinum gives businesses a 0 interest rate on purchases and balances for the first 6 months. For balance transfers, you could transfer balances from other business credit accounts. You could transfer balances from other private accounts, but since it is a business credit card, you shouldn’t try to mix up personal and business spending. There is also a 3% fee on balance transfers.

After the first 6 months, the APR for both purchases and balance transfer increases to 14.99% variable, 19.99% variable or 24.99% variable, depending on your business credit. For defaults, APR is 29.4% variable.

Beside the 0 interest offer, the Business Platinum also provides a credit line of up to $5,000. Other useful business help features include employee cards on the same account. These are available upon request, and with the employee cards, you won’t have to be the only person around with the card to make payment.

Another program that helps is the Visa Business Partner Advantage program. With this program, the card allows you to enjoy discounts on a wide range of office equipment such as computers, office supplies and also other business needs like food (for entertainment) and car rentals.

This is a card for small business owners who want to build business credit history. It also offers the benefits of 0 interest credit cards to business expenses so you won’t have to pay for company expenses on your own 0 interest credit card. 6 months of 0 interest isn’t a long time, but 6 months additional cash flow is definitely going to be a big help for your business.

The Visa Business Platinum Credit Card from Capital One at a glance:

APRs:
Purchase and Balance – Rate 1 - 14.99% variable; Rate 2 - 19.99% variable ; Rate 3 - 24.99% variable.
Default – 29.4%.

Fees:
Annual Fee - $39.
Minimum finance charge - $0.50.
Balance transfer fee – 3%.

Zero Percent Interest Rate Offer:
Purchases and Balance Transfer.

Introductory Period:
6 Months.

Card Type:
Visa

Eligibility:
New card application only.
Business owner or owners.
Subjected to credit approval and other terms and conditions (read carefully before applying).