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  NIH Federal Credit Union Visa Business Rewards Credit Card

NIH Federal Credit Union Visa Business Rewards Credit Card

in Business Credit Cards from NIH Federal Credit Union

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NIH Federal Credit Union Visa Business Rewards Credit Card

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in Business Credit Cards from NIH Federal Credit Union

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Highlights
Purchase APR  (Variable APR) 12.49% - 17.49%
Balance Transfer APR  (Variable APR) 12.49% - 17.49%
Credit Score Range 650 - 850
Annual Fee $0

NIH Federal Credit Union Visa Business Rewards Credit Card Review

Key Takeaways
  • 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer 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 15 months.
  • Competitive APRs. NIH Federal Credit Union Visa Business Rewards Credit Card has a variable purchase APR that ranges from 12.49% up to 17.49%.
  • No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
  • 2% Balance transfer fee. NIH Federal Credit Union Visa Business Rewards Credit Card charges a fee of 2% on balance transfers. For example, a balance of $1,000 could cost $20 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 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 650.
Pros & Cons of NIH Federal Credit Union business credit card
The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 15 months.
  • 0% APR on new purchases during the first 15 months.
  • No annual fee.
  • Cardholders can earn rewards on purchases everywhere NIH Federal Credit Union Visa Business Rewards Credit Card is accepted.
  • NIH Federal Credit Union Visa Business Rewards Credit Card reports to multiple credit bureaus.
  • Does not offer a signup bonus.
  • Charges a foreign transaction fee of 1%.
  • Charges a 2% balance transfer fee.
  • Does not include many credit card benefits.
NIH Federal Credit Union business credit card FAQ

Who is NIH Federal Credit Union business credit card designed for?

This is a credit card issued by NIH Federal Credit Union. 

This business card is designed for small businesses with fair credit. The minimum credit score to apply is 650.

What are the relevant APRs?

This business credit card has a variable purchase APR that ranges from 12.49% up to 17.49%. The card has a variable balance transfer APR that ranges from 12.49% up to 17.49%.

The good news is this business card does not charge a penalty APR if you are late on a payment.

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 15 months from account opening.

This business card does offer an introductory APR rate on new purchases of 0% for a period of 15 months.

NIH Federal Credit Union business credit card Rates & Terms
Purchase APR 12.49% - 17.49%
Balance Transfer APR 12.49% - 17.49%
Penalty APR 0%

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 $25.
  • A returned payment fee of up to $25.
  • There is no overlimit fee

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.

NIH Federal Credit Union business credit card Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 1%
Balance Transfer Fee 2%
Minimum Balance Transfer Fee $10
Returned Payment Fee up to $25
Late Payment Fee up to $25

Does it offer a cash back rewards program?

This business credit card offers a rewards program to its customers. This business card offers rewards to small business owners that use the card to make purchases in the following bonus categories:

  • Every Purchase

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.

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 (800) 877-6440.

What is the support contact email?

The support contact email for this business credit card is nihfcu@nihfcu.org.

Does NIH Federal Credit Union Visa Business Rewards Credit Card report your account activity to credit bureaus?

Yes, NIH Federal Credit Union Visa Business Rewards Credit 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 NIH Federal Credit Union .
  • 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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Message From NIH Federal Credit Union Visa Business Rewards Credit Card

Designed for the self-employed or owners of small businesses or medical practices, NIHFCU’s no annual fee Visa Business Credit Card offers: 0% intro APR for 15 months on purchases and balance transfers,3 then pay a variable APR of 12.49%-17.49% depending on credit worthiness. Earn 1 point for every $1 spent on net purchases. Double rewards for every net $1 business category purchase including medical equipment and supplies. Redeem points for cash, travel, gift cards, merchandise or donate to the NIH Charities. Low foreign transaction fee. Advanced security features including Visa Zero Liability, 24/7 fraud monitoring and card alerts.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 4:00pm
  • Tuesday 9:00am - 4:00pm
  • Wednesday 9:00am - 4:00pm
  • Thursday 9:00am - 4:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 1:00pm

Other Services by NIH Federal Credit Union

Feature Breakdown

Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 15 months
Annual Fee $0
No Annual Fee
No Interest Grace Period for Late Payment 25 days
Over-Limit Fee $0
Cash Advance Fee (%) 2%
Cash Advance Fee Minimum $10
Foreign Currency Transaction Fee 1%
Late Fee Amount Up to $25
Minimum Cash Advance Fee ($) $10
Returned Payment Fee Up to $25
Customer Type Business
Minimum Age 18
Credit Score Range 650 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Fraud Liability
Rewards Categories
  • Every Purchase
Balance Computation Average Daily Balance (Including New Purchases)
Penalty APR (Variable APR) 0%
Purchase APR (Variable APR) 12.49% - 17.49%
Balance Transfer Fee % 2%
Balance Transfer Fee Minimum $10
Balance Transfer Intro APR Period (Variable APR) 15 months
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer APR (Variable APR) 12.49% - 17.49%
Card Network Visa
Card Type
  • Rewards
  • Balance Transfer

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