First Horizon Business Rewards Mastercard: Comprehensive Overview

The First Horizon Business Rewards Mastercard is a robust credit card designed specifically for business owners seeking to maximize their expenses while earning rewards on everyday purchases. Issued by First Horizon Bank, this card focuses on providing valuable perks, competitive rewards, and added benefits to support business growth.

Card Type

The First Horizon Business Rewards Mastercard falls under the category of a business rewards credit card. It is crafted for businesses of all sizes, making it an ideal choice for entrepreneurs who wish to enhance their spending with attractive rewards.

Annual Fee

A significant advantage of the First Horizon Business Rewards Mastercard is its no annual fee feature. This makes it a cost-effective option for small business owners and freelancers who want to avoid extra costs while earning rewards.

Rewards Program

This card offers a generous rewards program, allowing cardholders to earn 1.5% cashback on every purchase made. Moreover, specific categories such as office supplies, advertising, and internet services provide enhanced benefits where users can earn 3% cashback. Rewards can be redeemed as cashback deposited directly into your bank account, providing flexibility and immediate benefits for business needs.

Sign-Up Bonus

Upon approval, new cardholders can take advantage of a lucrative sign-up bonus. To qualify, you need to spend a minimum of $3,000 within the first three months of account opening. Successfully meeting this requirement will earn you a substantial $500 cashback, significantly boosting your rewards value right from the start.

APR (Annual Percentage Rate)

The First Horizon Business Rewards Mastercard features a competitive regular APR of 15.99% to 24.99%, depending on creditworthiness. Additionally, there’s an introductory offer of 0% APR on purchases for the first 12 months, allowing businesses to invest in necessary tools and resources without immediate interest costs.

Foreign Transaction Fees

For businesses involved in international operations or travel, this card is advantageous as it has no foreign transaction fees. This feature makes it easy to use your card for purchases abroad without the worry of incurring additional charges.

Balance Transfer Options

If you are looking to consolidate debt, the First Horizon Business Rewards Mastercard offers a solid balance transfer option. New cardholders can enjoy 0% APR on balance transfers for the initial 12 months. However, a 3% balance transfer fee applies, which is fairly standard in the industry.

Additional Fees

It’s important to be aware of other fees associated with the card. These include a late payment fee of up to $39 and a cash advance fee of either 3% of the amount or a minimum of $10, whichever is greater. Understanding these fees can help in managing your account effectively.

Card Benefits and Perks

Cardholders of the First Horizon Business Rewards Mastercard benefit from numerous perks that heighten the overall value of the card. This includes access to travel insurance, auto rental collision damage waiver, and 24/7 concierge services”an absolute boon for busy entrepreneurs. Additionally, cardholders may gain access to exclusive promotional events or discounts from various business partners.

Customer Protections and Insurance

The card also emphasizes user security with robust customer protection policies. It features zero liability fraud protection, ensuring that unauthorized purchases won’t burden cardholders. Furthermore, the card includes purchase protection, safeguarding eligible purchases against theft or damage within a specified period.

Eligibility and Credit Score Requirements

To be considered for the First Horizon Business Rewards Mastercard, applicants typically need a good to excellent credit score which is generally considered to be between 700 to 850. Other criteria may include the length of business operations and income level to assess creditworthiness adequately.

Introductory Offers

The card provides an introductory 0% APR for 12 months on both purchases and balance transfers, making it a favorable time for businesses looking to make significant spending or consolidate debt without interest penalties.

Special Features or Unique Selling Points

One of the unique selling points of the First Horizon Business Rewards Mastercard is its straightforward cashback rewards structure with no rotating categories”allowing cardholders to earn consistently without monitoring bonuses. Additionally, the no annual fee aspect enhances its appeal for budget-conscious business owners.

How to Apply

Applying for the First Horizon Business Rewards Mastercard is straightforward. Interested applicants can visit the official website of First Horizon Bank or apply in-branch. For quick access and convenience, you can directly ‘>official website and explore the financial benefits it has to offer. For more insights on managing your finances effectively, visit UpCube.net.