BB&T Spectrum Cash Rewards for Business: A Comprehensive Overview

The BB&T Spectrum Cash Rewards for Business credit card, issued by BB&T, is a robust financial tool designed specifically for business owners who want to maximize their cash flow and rewards. This card stands out for its excellent rewards program, competitive APR, and various benefits aimed at meeting the diverse needs of businesses.

Card Type

This card falls into the category of cashback business credit cards. Its main focus is on providing users with cash back on eligible transactions to help businesses earn while they spend, making it a suitable choice for entrepreneurs and small business owners.

Annual Fee

One of the most attractive features of the BB&T Spectrum Cash Rewards for Business is that it comes with no annual fee. This means business owners can enjoy the benefits and rewards without the burden of a yearly fee deterring them from maximizing their use of the card.

Rewards Program

The rewards program is structured to benefit various spending habits. Cardholders can earn 3% cash back on gas purchases, 2% cash back on dining expenses, and 1% cash back on all other eligible purchases. Additionally, for the first $500 in qualifying purchases each billing cycle, cardholders can earn an impressive bonus rate, making it easier to rack up rewards quickly. Cash back can be redeemed as statement credits, making it a straightforward option for businesses looking to offset costs.

Sign-Up Bonus

The BB&T Spectrum Cash Rewards for Business card offers an enticing sign-up bonus. New cardholders can earn a bonus of $200 after spending $1,500 within the first 90 days of account opening. This attractive incentive is a great way to kickstart your rewards accumulation and get additional value from your new card.

APR (Annual Percentage Rate)

The regular APR for purchases is competitive, set at a variable rate based on your creditworthiness. New applicants benefit from an initial introductory APR of 0% on purchases for the first 12 months, allowing businesses to make necessary purchases without accruing interest immediately.

Foreign Transaction Fees

Business owners traveling abroad will appreciate the fact that this card does not charge foreign transaction fees. This feature makes it ideal for business travel, enabling cardholders to use their card without the worry of additional charges on international transactions.

Balance Transfer Options

The BB&T Spectrum Cash Rewards for Business card also offers balance transfer options. There is a 0% introductory APR for the first 15 months on balance transfers, after which a variable APR applies. This gives businesses a solid opportunity to consolidate existing debts without incurring high interest during the introductory period.

Additional Fees

While there are no annual fees, users should be aware of other potential charges, including a late payment fee of up to $39 and a cash advance fee either $10 or 3% of the transaction amount, whichever is greater. It’s essential for cardholders to manage their payments to avoid these fees.

Card Benefits and Perks

This card comes with an array of benefits that enhance its value. Cardholders can access various features such as travel accident insurance, purchase protection, and extended warranty on eligible purchases. Additionally, perks like concierge services and access to discounts on travel and hotel bookings can be beneficial for busy business owners.

Customer Protections and Insurance

The BB&T Spectrum Cash Rewards for Business offers extensive customer protections, including fraud liability protection, which ensures that cardholders are not held responsible for unauthorized charges. Furthermore, cardholders benefit from purchase protection, which covers eligible new purchases against damage or theft for a specific period following the purchase. Also, rental car insurance is provided when the card is used to pay for the rental.

Eligibility and Credit Score Requirements

To qualify for the BB&T Spectrum Cash Rewards for Business card, applicants typically need to have a good to excellent credit score, generally in the range of 700 or above. Additionally, the bank may consider other criteria, including business revenue and payment history.

Introductory Offers

As highlighted, the card provides an attractive 0% introductory APR on new purchases for the first 12 months, ideal for managing startup costs or making necessary investments without paying interest during this grace period.

Special Features or Unique Selling Points

What sets the BB&T Spectrum Cash Rewards for Business apart from other business cards is its simplicity in reward structures and the no-annual-fee benefit. The tailored cashback categories help businesses earn rewards where they spend the most, thus maximizing value for cardholders.

How to Apply

Applying for the BB&T Spectrum Cash Rewards for Business card is straightforward. Interested applicants can apply ‘>Official Website or check out other Financial Insights to expand your understanding of credit card options.