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Advanta Platinum 90-Day Interest Free BusinessCard
Tuesday, September 9th, 2008Advanta has introduced a new business credit card that offers 90 days interest free on all purchases all the time. The Advanta Platinum 90-Day Interest Free BusinessCard charges no interest for 90 days on purchases and offers a business rewards program, all without an annual fee. Since the 90 day interest free period is not a promotional offer, and it can provide up to $50,000 in working capital, the card can be helpful for small businesses looking to better manage their cash flow on an ongoing basis.
While the rewards program allows redemption for travel, merchandise or cash, the cash redemption ratios are very weak. One point is earned for each $1 in net purchases and 15,000 points can be redeemed for a $50 check, which is equivalent to 0.33% cash back. It is, of course, better than nothing.
The main and only real reason to get this card is to take advantage of the perpetual 3 months of free float, which in itself would be attractive to many businesses.
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September 12th, 2008 at 5:15 pm
Sounds Great, but you should have interviewed the true people who are paying for this offer, the current card holders who received their statements this month where the new interest rate was 35%!
Never been late, over limit once a year ago (which btw, they should decline it if I’m over my limit, but no, they don’t want you to use another card), been a good customer for 8 years. When I called they would not give me a reason, would not lower the interest, so I canceled the card and sold stocks to pay if off. Nice company…..just don’t do business with them.
September 12th, 2008 at 8:33 pm
Hi Helen, sorry to hear about your story. It seems to be a common one these days across all credit card issuers. Many readers have shared similar experiences where the bank has cut their limit or raised their rate seemingly arbitrarily in this post.
September 17th, 2008 at 11:49 am
I am still sad that they discontinued the life of balance card. Advanta also doesn’t allow having multiple cards…