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  Citizens Bank Business Platinum Mastercard

Citizens Bank Business Platinum Mastercard

in Business Credit Cards from Citizens Bank

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Citizens Bank Business Platinum Mastercard

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in Business Credit Cards from Citizens Bank

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Highlights
Purchase APR  (Variable APR) 8.24% - 19.24%
Balance Transfer APR  (Variable APR) 8.24% - 19.24%
Credit Score Range 600 - 850
Annual Fee $0

Citizens Bank Business Platinum Mastercard Review

Key Takeaways
  • 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 7 months , which is shorter than the average 0% APR period of 12 months.
  • 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 7 months.
  • Competitive APRs. Citizens Bank Business Platinum Mastercard has a variable purchase APR that ranges from 8.24% up to 19.24%.
  • No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
  • 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.
  • Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
  • Multiple business credit card benefits. Includes generous credit card perks, such as emergency support, identity theft protection, purchase protection, travel accident insurance, and fraud protection.
  • Fair or better credit required. You will have good approval odds if your credit score is above 600.
Pros & Cons of Citizens Bank business credit card
The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 7 months.
  • No balance transfer fee.
  • 0% APR on new purchases during the first 7 months.
  • No annual fee.
  • Multiple business credit card perks.
  • Identity Theft Protection.
  • Travel accident insurance.
  • Considers applicants with fair or poor credit.
  • Citizens Bank Business Platinum Mastercard reports to multiple credit bureaus.
  • Does not offer a signup bonus.
  • Does not offer rewards or cash back.
  • Charges a foreign transaction fee of 3%.
  • You don't earn rewards on every purchase.
Citizens Bank business credit card FAQ

Who is Citizens Bank business credit card designed for?

This is a secured credit card credit card issued by Citizens Bank. 

Secured cards are credit cards that require a refundable deposit before you qualify for a line of credit. These cards are often used to build the credit of consumers with with poor credit or little credit history.

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 that ranges from 8.24% up to 19.24%. The card has a variable balance transfer APR that ranges from 8.24% up to 19.24%.

It also has a variable cash advance APR of 23.49%. Note that late payments are subject to an APR of 27.24% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

Does it have an introductory APR offer?

Yes, this business card offers an introductory APR rate on balance transfers of 0% for a period of 7 months from account opening.

This business card does offer an introductory APR rate on new purchases of 0% for a period of 7 months.

Citizens Bank business credit card Rates & Terms
Purchase APR 8.24% - 19.24%
Balance Transfer APR 8.24% - 19.24%
Cash Advance APR 23.49%
Penalty APR 27.24%

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 $39.
  • A returned payment fee of up to $20.
  • An overlimit fee of $39.

Does it charge a foreign transaction fee?

This business card charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this business card at home and apply for one that doesn't charge a foreign transaction fee.

Citizens Bank business credit card Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 3%
Returned Payment Fee $20
Late Payment Fee $39

Does it offer a cash back rewards program?

No, it does not offer a cash back rewards program.

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:

  • Emergency Support
  • Fraud Liability
  • Travel Accident Insurance
  • Cellular Telephone Protection
  • Reports to major credit bureaus

What is the customer service phone number?

The customer service number for this business card is (877) 360-2472.

Does Citizens Bank Business Platinum Mastercard report your account activity to credit bureaus?

Yes, Citizens Bank Business Platinum 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 Citizens 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.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Citizens Bank Business Platinum Mastercard

A smart choice for managing your cash flow: No annual fee. Lower rate than a personal card. 0% introductory APR for 6 months. Up to 50 days of working capital with 30-day billing cycles and a 20-day settlement period combined with traditionally lower rates than a personal credit card make this business card a smart choice for managing your cash flow.

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Feature Breakdown

Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 7 months
Annual Fee $0
No Annual Fee
No Interest Grace Period for Late Payment 20 days
Cash Advance Fee (%) Up to 5%
Cash Advance Fee Minimum $10
Foreign Currency Transaction Fee 3%
Late Fee Amount $39
Minimum Cash Advance Fee ($) Starting at $10
Minimum Interest Charge $2
Over-Limit Fee $39
Returned Payment Fee $20
Customer Type Business
Minimum Age 18
Credit Score Range 600 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Identity Theft Protection
  • Purchase Protection
  • Emergency Support
  • Fraud Liability
  • Cellular Telephone Protection
  • Travel Accident Insurance
Rewards Type No Rewards
Balance Computation Average daily balances (including new purchases)
Cash Advance APR (Variable APR) 23.49%
Penalty APR (Variable APR) 27.24%
Purchase APR (Variable APR) 8.24% - 19.24%
Balance Transfer Intro APR Period (Variable APR) 7 months
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer APR (Variable APR) 8.24% - 19.24%
Card Network Mastercard
Card Type
  • Secured

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