How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Business owners who need a balance transfer and are also clients of Edward Jones will be well-served with this card both in the short and long term. Although the intro APR on balance transfers lasts only 12 months, the rewards program is good.
The Edward Jones Business Plus MasterCard Credit Card comes with a $0 annual fee and an easy-to-earn sign-up bonus, which means if you don’t have late fees or carry a balance, you can use the card without ever paying a cent. The tiered rewards program lets you earn 1.5 Loyalty Points on every net $1 spent up to $40,000 and 2 Loyalty Points on every net $1 spent over $40,000. Even if you don’t reach the higher earning level, the reward rate is solid and lets you earn cash back on every purchase.
However, if you don’t have an account or do not intend to bank with Edward Jones, you can consider other card options.
Sign-up bonus
The Edward Jones Business Plus MasterCard Credit Card offers a solid sign-up bonus with a low spend threshold. Cardholders earn 15,000 loyalty points after spending $1,000 in the first 90 days of account opening, which is a $150* value. It’s not the highest sign-up bonus available, but with a low spending threshold, it’s easy to earn.
Cash back rewards
Cardholders earn 1.5 Loyalty Points on every net $1 spent up to $40,000 and 2 Loyalty Points on every net $1 spent over $40,000. This is a solid rewards rate for business credit cards; however, there are business cards that offer flat-rate rewards. The Capital One Spark Cash Plus lets you earn 2% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel, while other cards offer elevated rewards in popular business categories or travel.
Points can be redeemed for cash deposits into your Edward Jones account with Edward Jones Loyalty Invest,™ as well as travel, gift cards, merchandise, statement credits and donations.
Introductory APR on balance transfers
If you’re carrying high-interest credit card debt, you can transfer it to the Edward Jones Business Plus MasterCard Credit Card without being subject to interest charges for a year. The card has a 0% introductory APR for the first 12 billing cycles for balances transferred within 60 days from account opening, after which a 19.74%–29.74% Variable APR applies.
There’s also a 0% introductory fee for balances transferred within the first 60 days; after that, 3% of each transferred amount, $5 minimum.
$0 annual fee
The Edward Jones Business Plus MasterCard Credit Card charges a $0 annual fee, which is good considering the intro APR for balance transfers and rewards. There are numerous $0 annual fee credit cards, including the Ink Business Cash® Credit Card. However, the cards with the most robust perks typically have annual fees.
No intro APR on purchases
If you plan to carry a balance on your Edward Jones Business Plus MasterCard Credit Card from month to month, this is not the card you want to use. You will be subject to interest charges at an APR of 19.74%–29.74% Variable. If you need to finance a large purchase, consider the Ink Business Cash® Credit Card, which comes with an intro on new purchases and offers elevated rewards on popular business expenses.
Spend requirement to earn the highest rewards rate
To earn the highest cash back rate, you must spend at least $40,000 during a 12-month billing cycle. Depending on the size of your business, this may be easily attainable or a very far stretch. For small businesses that fall in the latter category, consider a flat-rate card such as Ink Business Unlimited® Credit Card, which lets you earn unlimited 1.5% cash back on every purchase made for your business.
Application restrictions
The Edward Jones Business Plus MasterCard Credit Card is available only to Edward Jones customers. To apply, you can either ask your Edward Jones financial advisor or log in to your account and visit the loans and credit section under the accounts tab. If you’re not an Edward Jones customer yet, you can become a client with an advisor in your area.
Credit Cards | Our Ratings | Intro Balance Transfer APR | Regular Balance Transfer Rate | Balance Transfer Fee | |
---|---|---|---|---|---|
Edward Jones Business Plus MasterCard Credit Card*
|
0% introductory APR for the first 12 billing cycles for balances transferred within 60 days from account opening | 19.74%–29.74% Variable | 0% introductory fee for balances transferred within the first 60 days; after that, 3% of each transferred amount, $5 minimum | ||
BMO Business Platinum Credit Card*
Review Coming Soon
|
N/A | 17.24%-26.24% Variable | $10 or 4% of the amount of each balance transfer, whichever is greater | Review Coming Soon | |
Ink Business Cash® Credit Card
Apply Now
on Chase's secure site |
N/A | 17.99% - 23.99% Variable | Either $5 or 5% of the amount of each transfer, whichever is greater. |
Apply Now
on Chase's secure site |
|
U.S. Bank Triple Cash Rewards Visa® Business Card*
|
N/A | 18.49% to 27.49% variable | Either 3% of the amount of each transfer or $5 minimum, whichever is greater |
Besides the low rates, there are a handful of other perks end with this card, including up to $600 in cellphone protection each year. Its biggest downsides include foreign transaction fees and no rewards program.
You can also stretch your rewards further with the Chase Ultimate® Rewards program. Like the other cards, there’s a $0 annual fee, but there is a foreign transaction fee.
The U.S. Bank Triple Cash Rewards Visa® Business Card has a $0 annual fee and does have foreign transaction fees.
For business owners who are Edward Jones clients and need to finance some credit card debt via a balance transfer, the Edward Jones Business Plus MasterCard Credit Card is a strong choice. It’s one of a few business balance transfer credit cards, and it offers rewards, making it valuable long after your debt is paid off.
However, if you’re not, or don’t intend to become, an Edward Jones client, consider a balance transfer credit card that fits your main goal. If paying down debt is your top priority, the BMO Business Platinum Credit Card is your best choice because of its long intro period on balance transfers and purchases. It’s great for financing, but not long term, since it lacks a rewards program.
But if you want an intro APR on new purchases or to finance new stock or equipment, the Ink Business Cash® Credit Card credit card is a great choice, with both an intro APR and cash back rewards.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
The information related to the Edward Jones Business Plus MasterCard Credit Card, BMO Business Platinum Credit Card, U.S. Bank Triple Cash Rewards Visa® Business Card, Ink Business Unlimited® Credit Card and Wells Fargo Business Platinum Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
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