AmaZing Rewards® Business from Zions Bank Review

If you’re a business owner searching for a credit card that offers a robust rewards program, a 0% introductory APR, and no annual fee, the AmaZing Rewards® Business credit card from Zions Bank might be worth considering. This card promises to provide substantial benefits tailored to the needs of small to mid-sized businesses, particularly those that have regular expenses in office supplies, telecommunications, and business travel.
In this detailed review, we’ll dissect all aspects of the AmaZing Rewards® Business credit card to provide you with a comprehensive understanding of its value proposition. We will cover its key features, benefits, pros and cons, and much more. By the end of this article, you should have a clear idea of whether this card suits your business needs.

AmaZing Rewards® Business from Zions Bank Key Takeaways

– Introductory APR: 0% on purchases for the first six months.
– Regular APR: 19.49% variable.
– Rewards Program:
– 3x points for every $1 spent on select business purchases including office supplies, cellular services, internet services, telecommunications, and cable TV.
– 2x points for every $1 spent on select business travel purchases including airline tickets and car rentals.
– 1x point for every $1 spent on all other purchases.
– Fees:
– Annual Fee: $0
– Balance Transfer Fee: 2% of the transfer amount (minimum $5, maximum $50)
– Cash Advance Fee: 3% of the transaction amount (minimum $5)
– Late Payment Fee: Ranges from $19 to $39 depending on the balance.
– Return Payment Fee: Up to $29
– Minimum Credit Score: Good to Excellent (670-799)
– Issuer: Zions Bank

AmaZing Rewards® Business from Zions Bank Pros and Cons

Pros

1. No Annual Fee: Unlike many business credit cards, the AmaZing Rewards® Business card has no annual fee, making it a cost-effective option for small businesses.
2. Generous Reward Rates: The card offers 3x points on select business purchases and 2x points on business travel, which can add up quickly for businesses with high monthly expenditures in these categories.
3. 0% Introductory APR: The 0% introductory APR on purchases for the first six months can be beneficial for businesses looking to make large purchases upfront without incurring interest charges.
4. Flexible Rewards Program: Points earned can be redeemed for a variety of rewards, providing flexibility and value for business owners.
5. No Foreign Transaction Fees: This makes it an excellent choice for businesses that conduct international transactions or travel frequently.

Cons

1. No Welcome Bonus: Unlike many business credit cards, the AmaZing Rewards® Business card does not offer a sign-up bonus, which can be a significant drawback for some businesses.
2. High Regular APR: The regular APR of 19.49% is on the higher side, which could be a disadvantage for businesses that carry a balance.
3. Limited Transfer Options: The card does not offer a promotional balance transfer APR, and the balance transfer fee can be a deterrent for those looking to consolidate debt.
4. High Cash Advance APR: The cash advance APR of 24.49% is quite steep, making it an expensive option for cash advances.
5. Complex Late Payment Fees: The tiered structure for late payment fees can be confusing and costly if not managed properly.

AmaZing Rewards® Business from Zions Bank Benefits

Rewards Program

The rewards program is one of the standout features of the AmaZing Rewards® Business credit card. Here’s a deeper dive into how it works:
1. 3x Points on Select Business Purchases: This includes office supplies, cellular services, internet services, telecommunications, and cable TV. For businesses with significant monthly spending in these categories, this can lead to substantial rewards.
2. 2x Points on Business Travel: This includes purchases on airlines and car rentals. If your business requires frequent travel, these points can add up quickly.
3. 1x Point on All Other Purchases: Every other purchase earns 1 point per dollar spent, ensuring that you are always accumulating rewards regardless of the spending category.

Redemption Options

Points can be redeemed for a variety of rewards, including travel, merchandise, gift cards, and statement credits. The flexibility in the redemption options ensures that you can use your rewards in a way that best benefits your business.

Introductory APR

The 0% introductory APR on purchases for the first six months is a significant benefit, especially for businesses planning to make large purchases. This feature allows businesses to spread out payments over six months without incurring interest charges, providing some financial breathing room.

No Annual Fee

Having no annual fee is a huge plus, especially for small businesses looking to minimize expenses. Many business credit cards come with hefty annual fees, so the $0 annual fee on the AmaZing Rewards® Business card is a welcome relief.

No Foreign Transaction Fees

For businesses that operate internationally or have employees who travel abroad, the absence of foreign transaction fees is a significant benefit. This can lead to substantial savings over time, as many other credit cards charge a fee for each transaction made outside the United States.

Purchase Protection and Extended Warranty

The AmaZing Rewards® Business card offers purchase protection and extended warranty on eligible purchases. This provides peace of mind knowing that your business purchases are protected against damage or theft, and the extended warranty can save you money on repairs and replacements.

Auto Rental Insurance

The card provides auto rental insurance, which can save your business money on rental car insurance when traveling for business purposes. This coverage can be a significant benefit for businesses that frequently rent cars for travel.

Rate and Fee Information

Understanding the rates and fees associated with the AmaZing Rewards® Business credit card is crucial in determining its overall value for your business. Here’s a breakdown:

Purchase Intro APR

– 0% Intro APR on Purchases for 6 Months: This is a great feature for businesses planning large upfront purchases. It allows you to spread out payments over six months without incurring interest charges.

Regular APR

– 19.49% Variable APR: While the introductory APR is attractive, the regular APR is relatively high. This could be a disadvantage for businesses that carry a balance from month to month.

Balance Transfer APR

– 19.49% Variable: The card does not offer a promotional balance transfer APR, and the balance transfer fee is 2% of the transfer amount (minimum $5, maximum $50).

Cash Advance APR

– 24.49% Variable: The cash advance APR is high, making it an expensive option for cash advances. Additionally, there is a cash advance fee of 3% of the transaction amount (minimum $5).

Fees

– Annual Fee: $0
– Balance Transfer Fee: 2% of the transfer amount (minimum $5, maximum $50)
– Cash Advance Fee: 3% of the transaction amount (minimum $5)
– Late Payment Fee: $19 on account balances up to $249.99; $29 on balances between $250.00 and $499.99; $39 on balances of $500.00 or more
– Return Payment Fee: Up to $29

Managing Your Account and Customer Service

Zions Bank offers several options for managing your credit card account and accessing customer service, ensuring that you have the support you need to manage your business finances effectively.

Online Account Management

You can manage your AmaZing Rewards® Business credit card account online through the Zions Bank website. This includes viewing your account balance, making payments, and tracking your rewards points. The online portal is user-friendly and provides all the tools you need to manage your account efficiently.

Customer Service

Zions Bank offers 24/7 customer service for credit cardholders. This ensures that you can get assistance whenever you need it, whether it’s for reporting a lost or stolen card, disputing a charge, or asking questions about your account.

Conclusion

The AmaZing Rewards® Business credit card from Zions Bank offers a compelling package for small to mid-sized businesses. Its robust rewards program, 0% introductory APR, and no annual fee make it an attractive option for businesses looking to maximize their spending and minimize costs.
However, it’s important to consider the higher regular APR and the lack of a welcome bonus when evaluating this card. If your business tends to carry a balance, the high APR could negate some of the benefits of the rewards program. Additionally, the absence of a welcome bonus might be a drawback for those looking for an immediate incentive.
Overall, the AmaZing Rewards® Business credit card is a solid choice for businesses with significant spending in the categories that earn 3x and 2x points. Its no annual fee and 0% introductory APR add to its appeal, making it a worthwhile option for many business owners. However, as with any financial product, it’s essential to assess your business’s specific needs and spending habits to determine if this card is the right fit.
By carefully considering the pros and cons outlined in this review, you can make an informed decision about whether the AmaZing Rewards® Business credit card from Zions Bank aligns with your business’s financial goals and needs.