Edward Jones Business Plus MasterCard Credit Card Review

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.

• Intro purchase APR: N/A
• Regular purchase APR: 19.24%–29.24% Variable
• Intro balance transfer: 0% introductory APR for the first 12 billing cycles for balances transferred within 60 days from account opening
• Regular BT APR: 19.24%–29.24% Variable
• Foreign transaction fee: $0
• Sign-up bonus: 15,000 loyalty points after you spend $1,000 in the first 90 days of account opening
• Rewards: 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
• Other benefits: Online banking, Mobile wallet friendly, Spending and reporting tools, Travel assistance

• 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.

  *Based on LendingTree’s value methodology

• 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's travel booking site, 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 19.24%–29.24% 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 19.24%–29.24% 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 the Ink Business Unlimited^® Credit Card (see rates & fees), 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.

Edward Jones Business Plus MasterCard Credit Card vs. Ink Business Cash^® Credit Card

With both an intro APR on new purchases and cash back rewards, the Ink Business Cash^® Credit Card card is a useful financial tool in the wallet of business owners. You can earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. If you spend a lot on office-related items or need to finance something, the Ink Business Cash^® Credit Card is worth considering.

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.

Edward Jones Business Plus MasterCard Credit Card vs. U.S. Bank Triple Cash Rewards Visa^® Business Card

With the U.S. Bank Triple Cash Rewards Visa^® Business Card, you can finance a large business expense and pay it off over time without incurring interest charges for more than a year. The card offers a 0% intro on purchases for 12 billing cycles, then a 17.99% - 26.99% Variable APR applies. Cardholders earn 3% cash back on eligible purchases at gas stations and EV charging stations (transactions of $200 or less)*, office supply stores, cell phone service providers and restaurants (*excludes discount stores/supercenters and wholesale clubs). 1% cash back on all other eligible net purchases. Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center. No limit on total cash back earned.

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.

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.