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  MidFirst Bank Business Secured Card

MidFirst Bank Business Secured Card

in Business Credit Cards from MidFirst Bank

Unaffiliated

MidFirst Bank Business Secured Card

Unaffiliated

in Business Credit Cards from MidFirst Bank

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Highlights
Purchase APR  (Fixed APR) Starting at 17.99
Balance Transfer APR  (Fixed APR) Starting at 17.99
Credit Score Range 500 - 850
Annual Fee Starting at $35

MidFirst Bank Business Secured Card Review

Key Takeaways
  • High APRs. This is not a great card for people who carry a balance. It has a fixed purchase APR starting at 17.99%
  • 3% Balance transfer fee. MidFirst Bank Business Secured Card charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 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.
  • 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.
  • Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have good approval odds.
Pros & Cons of MidFirst Bank business Secured credit card
The Good The Bad
  • Considers applicants with fair or poor credit.
  • MidFirst Bank Business Secured Card reports to multiple credit bureaus.
  • Higher than average purchase APRs.
  • Charges an annual fee of up to .
  • 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.
  • Charges a 3% balance transfer fee.
  • Does not include many credit card benefits.
MidFirst Bank business Secured credit card FAQ

Who is MidFirst Bank business Secured credit card designed for?

This is a secured credit card credit card issued by MidFirst 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 business owners who have bad credit. The minimum credit score to apply is 500.

This business card has a credit limit of up to 1000.

What are the relevant APRs?

This business credit card has a fixed purchase APR starting at 17.99% . The card has a fixed balance transfer APR starting at 17.99% .

It also has a fixed cash advance APR starting at 24.99% . Note that late payments are subject to an APR of 24.99% 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 offer an introductory APR rate on new purchases of 17.99%

MidFirst Bank business Secured credit card Rates & Terms
Purchase APR Starting at 17.99%
Balance Transfer APR Starting at 17.99%
Cash Advance APR Starting at 24.99%
Penalty APR 24.99%

What fees does it charge?

The following fees apply to this business credit card:

  • An annual fee of $35.
  • A late payment penalty of up to $35.
  • A returned payment fee of up to $35.

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.

MidFirst Bank business Secured credit card Fees
Fees Amount
Annual Fee $35
Foreign Transaction Fee 3%
Balance Transfer Fee 3%
Minimum Balance Transfer Fee $10
Returned Payment Fee up to $35
Late Payment Fee up to $35

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:

  • Fraud Liability
  • Reports to major credit bureaus

What is the customer service phone number?

The customer service number for this business card is (888) 643-3477.

What is the support contact email?

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

Does MidFirst Bank Business Secured Card report your account activity to credit bureaus?

Yes, MidFirst Bank Business Secured Card 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 MidFirst 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.
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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.

Contact

Hours of Operation

  • Sunday 12:00pm - 4:00pm
  • Monday 7:00am - 9:00pm
  • Tuesday 7:00am - 9:00pm
  • Wednesday 7:00am - 9:00pm
  • Thursday 7:00am - 9:00pm
  • Friday 7:00am - 9:00pm
  • Saturday 8:00am - 6:00pm

Other Services by MidFirst Bank

Icon for Business Credit Cards
View all business credit cards offered by MidFirst Bank

Availability

  Available in 50 states and Washington, D.C.
  • 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

Introductory Rate 17.99
No Interest Grace Period for Late Payment 25 days
Annual Fee Starting at $35
Cash Advance Fee (%) Starting at 5
Cash Advance Fee Minimum 10
Foreign Currency Transaction Fee 3
Late Fee Amount Up to 35
Minimum Cash Advance Fee ($) Starting at 10
Returned Payment Fee Up to 35
Customer Type Business
Minimum Age 18
Credit Score Range 500 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Fraud Liability
Rewards Type No Rewards
Balance Computation Average Daily Balance
Cash Advance APR (Fixed APR) Starting at 24.99
Credit Limit 1,000 - 50,000
Penalty APR (Fixed APR) 24.99
Purchase APR (Fixed APR) Starting at 17.99
Balance Transfer Fee % 3
Balance Transfer Fee % After Intro Period Starting at 3
Balance Transfer Fee Minimum 10
Balance Transfer APR (Fixed APR) Starting at 17.99
Card Network Visa
Card Type
  • Secured

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