MBNA Business Cashback Card

The MBNA Business Cash back rewards card is a little different than the other cards offered through MBNA for business.  While it has some of the same benefits, the major difference is the annual fee.  They charge 29 pounds per year.  Many of the business cards offered through companies including the MBNA Business BMI have decided against charging an annual fee because consumers are detracted from the card.  This card has a few things to offer, however it is not the best card on the market and you’ll see why.

The MBNA Business Cash Back card has a zero percent introductory rate on balance transfers for nine months.  Most business cards don’t offer this option, but those that do tend to offer 12 months.  So this introductory rate is better than most of the business cards on the market because it at least offers the deal.  Next you will find a purchase introductory rate of zero percent interest for three months.  This purchase rate is one of the few offered with business cards.  Just like the balance transfers most of the business credit cards don’t offer these rewards.  Companies tend to think of these rewards as personal needs rather than the professional.  Finding a card that offers even this deal is pretty great, though there are one or two offering the better balance transfer deal.

The next feature with this card is the annual percentage rate.  After the introductory periods are over you will be charged 17.9 percent.  This is one of the highest annual percentage rates on the market for personal or business.  In fact American Express, which is a competitor, charges 15.9 percent for their business cards.  At the moment this MBNA card seems pretty high and not too beneficial for your business. Let’s look at the cash back rewards this card will offer.

You will get .5 percent cash back on all purchases.  You will receive 1 percent cash back for fuel purchases.  Other cards of its ilk offer 1 percent on all purchases and up to 5 percent on petrol.  So again the MBNA card isn’t the best business card for a business, as they don’t offer some of the better cash back rewards of other cards.

There is a reason for these higher interest rates and lower rewards. Other business cards on the market ask that you have a good credit rating and that you have been in business for at least two years. They want to see that you are established.  With the MBNA card you have the annual fee as well as the other benefits that are not as nice because they offer this card to almost any business.  They do assess the risk and when found too great they will decline your application.  However, they are more lenient than other companies and they do offer to those who have struggled with a business in the past, such as having a credit arrear or two.  Depending on your business needs, this could fulfil them if you have trouble elsewhere.

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