Central Bank Small Business Mastercard®

Central Bank Small Business Mastercard® Review

• Competitive APRs. Central Bank Small Business Mastercard® has a variable purchase APR of 12.24%
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• 4% Balance transfer fee. Central Bank Small Business Mastercard® charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Multiple business credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, identity theft protection, travel assistance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 600.

The Good

The Bad

Earn one Reward Point for every dollar you spend using your Rewards Credit Card Earn Bonus Points for every dollar you spend during quarterly promotions Potentially lower than average purchase APRs. No annual fee. Multiple business credit card perks. Offers auto rental collision damage waiver. Identity Theft Protection. Travel assistance insurance Considers applicants with fair or poor credit. Cardholders can earn rewards on purchases everywhere Central Bank Small Business Mastercard® is accepted. Central Bank Small Business Mastercard® reports to multiple credit bureaus.

Does not offer a signup bonus. Charges a foreign transaction fee of 3%. Charges a 4% balance transfer fee.

Who is Central Bank Small Business Mastercard® designed for?

This is a credit card issued by Central Bank. 

This business card is designed for small businesses with fair credit. The minimum credit score to apply is 600.

What are the relevant APRs?

This business credit card has a variable purchase APR of 12.24%. The card has a variable balance transfer APR of 12.24% .

It also has a variable cash advance APR of 24.99%.

What fees does it charge?

The following fees apply to this business credit card:

• There is no annual fee.
• A late payment penalty of up to $35.
• A returned payment fee of up to $35.
• There is no overlimit fee

Does it offer a cash back rewards program?

This business credit card offers a rewards program to its customers. The rewards program allows you to earn cash with every purchase you make. This business card offers rewards to small business owners that use the card to make purchases in the following bonus categories:

• Every Purchase

Can I get it with just an employer identification number (EIN)?

You can apply for this business credit card with your EIN number, but expect the credit card issuer to also require your Social Security number. This is because, as with most business cards, it requires you to personally guarantee the line of credit.

What are the benefits?

This business credit card provides the following benefits:

• Auto Rental Collision Damage Waiver
• Emergency Support
• Fraud Liability
• Cellular Telephone Protection
• Travel Assistance
• Reports to major credit bureaus

What is the support contact email?

The support contact email for this business credit card is cbccustomerservice@centralbank.net.

Does Central Bank Small Business Mastercard® report your account activity to credit bureaus?

Yes, Central Bank Small Business Mastercard® reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply?

• Visit the Central Bank .
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.