CFCU of Michigan Business Mastercard
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| Purchase APR (Fixed APR) |
13.99% - 18% (Verified 10/27/2022) |
| Balance Transfer APR (Fixed APR) |
13.99% - 18% (Verified 10/27/2022) |
| Credit Score Range | 600 - 800 |
| Annual Fee | $0 |
CFCU of Michigan Business Mastercard Review
Key Takeaways
- Competitive APRs. CFCU of Michigan Business Mastercard has a fixed purchase APR that ranges from 13.99% up to 18%.
- 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.
- Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 1% 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, extended warranty protection on purchases, price protection, purchase protection, travel accident insurance, travel assistance, trip cancellation 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 CFCU of Michigan Business Mastercard
| The Good | The Bad |
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CFCU of Michigan Business Mastercard FAQ
Who is CFCU of Michigan Business Mastercard designed for?
This is a credit card issued by Community Financial Credit Union of Michigan.
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 fixed purchase APR that ranges from 13.99% up to 18%. The card has a fixed balance transfer APR that ranges from 13.99% up to 18%.
It also has a fixed cash advance APR that ranges from 13.99% up to 18%. Note that late payments are subject to an APR of 18.00% 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?
No, this business card does not come with an introductory APR offer for balance transfers.
This business card does not offer an introductory rate on new purchases.| Purchase APR | 13.99% - 18% |
| Balance Transfer APR | 13.99% - 18% |
| Cash Advance APR | 13.99% - 18% |
| Penalty APR | 18.00% |
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 $12.
- An overlimit fee of $35.
Does it charge a foreign transaction fee?
This business card charges a foreign transaction fee of 1%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $20. 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.
| Fees | Amount |
|---|---|
| Annual Fee | $0 |
| Foreign Transaction Fee | 1% |
| Balance Transfer Fee | 0% |
| Minimum Balance Transfer Fee | $0 |
| Returned Payment Fee | $12 |
| Late Payment Fee | up to $35 |
Does it offer a cash back or rewards program?
Yes, CFCU of Michigan Business Mastercard 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:
- Advertising Services
- Airfare
- Amazon.com
- Car Rentals
- Internet, Cable and Phone Services
- Drug Stores
- Education
- Every Purchase
- Furniture
- Gas stations
- Groceries
- Gyms
- Home Improvement
- Hotels
- Insurance
- Office Supply Stores
- Restaurants
- Retail
- Shipping
- Software, Hardware, Cloud
- Utilities
- Warehouse Clubs
Does it have a sign up bonus?
This business credit card doesn't offer a cash signup bonus.
Does it offer an annual loyalty bonus?
This business card doesn't offer a cash loyalty bonus.
What are the benefits?
This business credit card provides the following benefits:
- Auto Rental Collision Damage Waiver
- Emergency Support
- Extended Warranty Protection
- Trip Cancellation Insurance
- Fraud Liability
- Price Protection
- Travel Accident Insurance
- Cellular Telephone Protection
- Travel Assistance
- Reports to major credit bureaus
What is the customer service phone number?
The customer service number for this business card is (877) 937-2328.
What is the support contact email?
The support contact email for this business credit card is cumail@cfcu.org.
Does CFCU of Michigan Business Mastercard report your account activity to credit bureaus?
Yes, CFCU of Michigan 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 Community Financial Credit Union of Michigan .
- 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.
Message From CFCU of Michigan Business Mastercard
Contact
- Headquarters
-
P.O. Box 8050
Plymouth, MI 48170 USA - (877) 937-2328
- Visit Site
- Email Support
Other Services by Community Financial Credit Union of Michigan
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
| Annual Fee | $0 |
| Cash Advance Fee (%) | 0% |
| Cash Advance Fee Minimum | $0 |
| Foreign Currency Transaction Fee | 1% |
| Late Fee Amount | Up to $35 |
| Minimum Cash Advance Fee ($) | $0 |
| No Annual Fee | |
| No Foreign Transaction Fee | |
| No Interest Grace Period for Late Payment | 28 days |
| Over-Limit Fee | $35 |
| Returned Payment Fee | $12 |
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