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  Merchants Bank Visa Business
Merchants Bank Visa Business Unaffiliated

Merchants Bank Visa Business

Unaffiliated
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Highlights
Purchase APR  (Variable APR) Starting at 4%
Balance Transfer APR  (Variable APR) Starting at 4%
Credit Score Range 600 - 750
Annual Fee $25

Merchants Bank Visa Business Review

Key Takeaways
  • 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.
  • Fair or better credit required. You will have good approval odds if your credit score is above 600.
Pros & Cons of Merchants Bank Visa Business
The Good The Bad
  • Potentially lower than average purchase APRs.
  • Considers applicants with fair or poor credit.
  • Merchants Bank Visa Business reports to multiple credit bureaus.
  • Charges an annual fee of $25
  • Does not offer a signup bonus.
  • Does not offer rewards or cash back.
  • Charges a foreign transaction fee of 1%.
  • You don't earn rewards on every purchase.
  • Does not include many credit card benefits.
Merchants Bank Visa Business FAQ

Who is Merchants Bank Visa Business designed for?

This is a credit card issued by Merchants 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 starting at 4% . The card has a variable balance transfer APR starting at 4% .

It also has a variable cash advance APR starting at 7% . Note that late payments are subject to an APR of 21.75% 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 credit card does not offer an introductory rate on new purchases.

Merchants Bank Visa Business Rates & Terms
Purchase APR Starting at 4%
Balance Transfer APR Starting at 4%
Cash Advance APR Starting at 7%
Penalty APR 21.75%

What fees does it charge?

The following fees apply to this business credit card:

  • An annual fee of $25.
  • A late payment penalty of up to $25.
  • A returned payment fee of up to $30.
  • An overlimit fee of $25.

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.

Merchants Bank Visa Business Fees
Fees Amount
Annual Fee $25
Foreign Transaction Fee 1%
Balance Transfer Fee 0%
Minimum Balance Transfer Fee $0
Returned Payment Fee $30
Late Payment Fee $25

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 is the support contact email?

The support contact email for this business credit card is ibsupport@merchantsbank.com.

Does Merchants Bank Visa Business report your account activity to credit bureaus?

Yes, Merchants Bank Visa Business 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 Merchants 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 Merchants Bank

Local service from our Credit Card team in Winona, MN. Flexible payment options (as little as 3% of your balance monthly to match the cash flow needs of your business). Multiple credit cards for your staff, including customized cardholder names, making record-keeping and tracking easy. Purchasing card program with online access to EZ Business Card Management. ScoreMore bonus points. Contactless payments, which are faster and more secure. Whether you’re buying office supplies or paying for business travel, you can speed through the checkout with a single tap of your Merchants Bank credit card. To pay at retailers that accept this type of payment, just tap and go. If a retailer is not set up to accept a contactless form of payment, simply insert the chip or swipe just as you always have.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 2:00am
  • Tuesday 7:00am - 12:00am
  • Wednesday 7:00am - 2:00am
  • Thursday 7:00am - 2:00am
  • Friday 7:00am - 3:00am
  • Saturday Closed

Other Services by Merchants Bank

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View all business credit cards offered by Merchants Bank

Feature Breakdown

No Interest Grace Period for Late Payment 25 days
Annual Fee $25
Cash Advance Fee Minimum $3
Foreign Currency Transaction Fee 1%
Late Fee Amount $25
Minimum Cash Advance Fee ($) $3
Over-Limit Fee $25
Returned Payment Fee $30
Customer Type Business
Minimum Age 18
Credit Score Range 600 - 750
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Rewards Type No Rewards
Balance Computation Average daily balance, including new purchases
Cash Advance APR (Variable APR) Starting at 7%
Penalty APR (Variable APR) 21.75%
Purchase APR (Variable APR) Starting at 4%
Balance Transfer Fee % 0%
Balance Transfer Fee % After Intro Period Starting at 0%
Balance Transfer Fee Minimum $0
Balance Transfer APR (Variable APR) Starting at 4%

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Merchants Bank Business Credit Cards

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