AmaZing Rate® for Business from Zions Bank Review

In the ever-evolving world of financial products, choosing the right credit card for your business can be a daunting task. One of the credit cards that caught my attention recently is the AmaZing Rate® for Business from Zions Bank. This card is unique in that it doesn’t offer cash back, miles, or points. However, with a $0 annual fee and a 0% introductory APR on purchases for six months, it presents an interesting option for business owners looking for simplicity and cost-effectiveness. In this comprehensive review, I will dive deep into the features, benefits, and potential drawbacks of this card, helping you decide if it’s the right fit for your business.

AmaZing Rate® for Business from Zions Bank Key Takeaways

Before delving into the nitty-gritty details, let’s highlight the key takeaways of the AmaZing Rate® for Business credit card:
– Annual Fee: $0
– Introductory APR: 0% for six months on purchases
– Ongoing APR: 15.49% variable
– Credit Score Requirement: Good to Excellent (670-799)
– Balance Transfer Fee: 3% of the amount, minimum $10
– Cash Advance Fee: 3% of the amount, minimum $10
– Foreign Transaction Fee: 3% of each transaction in U.S. dollars
– Late Payment Fee: $19 to $39 depending on the balance

AmaZing Rate® for Business from Zions Bank Pros and Cons

Pros:

1. No Annual Fee: One of the most attractive features of this card is the absence of an annual fee. This makes it an economical choice for businesses looking to minimize costs.
2. Introductory APR: The 0% introductory APR on purchases for six months is beneficial for businesses that need to make substantial purchases upfront and want to avoid interest charges during the initial period.
3. Straightforward Terms: The card’s terms are clear and easy to understand, making it a good option for businesses that prefer simplicity over complicated rewards structures.

Cons:

1. No Rewards Program: The card does not offer any rewards such as cash back, miles, or points, which might be a dealbreaker for businesses that prefer to earn rewards on their spending.
2. Foreign Transaction Fee: A 3% fee on foreign transactions can be a significant drawback for businesses that frequently make international purchases or travel abroad.
3. Limited Introductory Offer: The introductory APR offer is limited to six months, which may not be long enough for businesses looking for extended interest-free periods.

AmaZing Rate® for Business from Zions Bank Benefits

1. Cost-Effectiveness

One of the primary benefits of the AmaZing Rate® for Business credit card is its cost-effectiveness. The lack of an annual fee means that businesses do not have to worry about an additional recurring cost. This is particularly advantageous for startups and small businesses operating on tight budgets.

2. Introductory APR on Purchases

The 0% introductory APR on purchases for six months allows businesses to make essential purchases without incurring interest charges during the initial period. This can provide much-needed breathing room for businesses that need to invest in equipment, inventory, or other upfront costs.

3. Manageable Ongoing APR

The ongoing APR of 15.49% is relatively competitive compared to other business credit cards, making it a reasonable option for businesses that may carry a balance from time to time. However, it is essential to manage your spending and pay off the balance to avoid interest charges.

4. Low Late Payment Fees

The late payment fees are tiered based on the balance, with a maximum fee of $39 for balances of $500 or more. This structure can be more forgiving for businesses with smaller balances, as the late payment fee for balances up to $249.99 is only $19.

5. Online Account Management

Zions Bank provides online account management, making it easy for business owners to monitor their spending, make payments, and manage their accounts from anywhere. This convenience is essential for busy entrepreneurs who need to stay on top of their finances.

6. Customer Service

Zions Bank is known for its customer service, and cardholders can expect prompt and helpful support. Whether you need assistance with your account or have questions about your card, Zions Bank’s customer service team is available to help.

Conclusion

The AmaZing Rate® for Business from Zions Bank is a no-frills credit card that offers several advantages for business owners seeking simplicity and cost savings. With no annual fee and a 0% introductory APR on purchases for six months, it provides an excellent opportunity for businesses to make essential purchases without incurring immediate interest charges.
However, the lack of a rewards program and the foreign transaction fee may deter some businesses, particularly those that prefer to earn rewards on their spending or frequently engage in international transactions.
Ultimately, the AmaZing Rate® for Business credit card from Zions Bank is best suited for businesses that prioritize straightforward terms and cost-effectiveness over rewards. If your business falls into this category, this card could be a valuable addition to your financial toolkit.
As always, it is essential to evaluate your business’s unique needs and spending habits before selecting a credit card. By doing so, you can ensure that you choose a card that aligns with your financial goals and helps your business thrive.