MidFirst Bank Business Secured Card

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 relatively good approval odds.

Pros & Cons of MidFirst Bank business Secured credit card

The Good	The Bad
Considers applicants with fair 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.

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 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.