Priority Destinations® World Elite Business Credit Card Review

In the realm of business credit cards, the Priority Destinations® World Elite Business Credit Card from First Hawaiian Bank stands out for its unique blend of rewards, benefits, and competitive rates. As a seasoned financial expert, I will delve into the specifics of this card and provide a comprehensive review to help you determine if it suits your business needs. This review will explore various facets, including key takeaways, pros and cons, benefits, and a concluding assessment.

Priority Destinations® World Elite Business Credit Card Review

The Priority Destinations® World Elite Business Credit Card offers a solid rewards structure that can be particularly appealing for businesses with substantial annual expenditures. With this card, you earn 2x Priority Miles per $1 spent on all qualifying purchases up to $50,000 in spend per anniversary year, and 1x mile per $1 thereafter. Additionally, new cardholders can earn 25,000 Bonus Priority Miles® after spending $3,000 within the first three months of account opening.
The card has an annual fee of $75, which is relatively modest when compared to the benefits and rewards it offers. The APR is 17.99% variable, which is competitive in the business credit card market. However, it’s crucial to note that this card does not offer an introductory APR for purchases or balance transfers.

Priority Destinations® World Elite Business Credit Card Key Takeaways

– Rewards Rate: 2x Priority Miles per $1 spent on qualifying purchases up to $50,000 per anniversary year, and 1x mile per $1 thereafter.
– Sign-Up Bonus: 25,000 Bonus Priority Miles® with $3,000 spend in the first 3 months.
– Annual Fee: $75
– APR: 17.99% variable
– Credit Score Requirement: Good to Excellent (670-799)
– Special Features: No foreign transaction fees, extensive travel benefits, and robust purchase protection.

Priority Destinations® World Elite Business Credit Card Pros and Cons

Pros:

– Generous Rewards Structure: The 2x miles on all qualifying purchases up to $50,000 annually is quite attractive for businesses with significant spending.
– Sign-Up Bonus: 25,000 Bonus Priority Miles® can provide substantial value, especially for businesses with travel needs.
– No Foreign Transaction Fees: Ideal for businesses that operate internationally or have frequent travel requirements.
– Comprehensive Travel Benefits: The card includes MasterRental Coverage, Mastercard Travel and Lifestyle Services, and more.

Cons:

– Annual Fee: $75 may be a deterrent for smaller businesses or those with minimal credit card usage.
– No Intro APR: The absence of an introductory APR for purchases or balance transfers could be a drawback for businesses looking to finance large purchases or consolidate debt.
– Limited Balance Transfer Options: The card does not offer a balance transfer feature, which could be a limitation for some businesses.

Priority Destinations® World Elite Business Credit Card Benefits

Rewards Program

The Priority Destinations® World Elite Business Credit Card shines in its rewards program. With 2x Priority Miles per $1 spent on all qualifying purchases up to $50,000 in spend per anniversary year, the card provides significant earning potential for businesses with high expenditures. After reaching the $50,000 threshold, the earning rate drops to 1x mile per $1, which is still competitive compared to many other business credit cards.

Sign-Up Bonus

New cardholders can earn a substantial 25,000 Bonus Priority Miles® by spending $3,000 within the first three months of account opening. This sign-up bonus can be particularly valuable for businesses planning to make large purchases shortly after obtaining the card.

Travel Benefits

The card offers a suite of travel benefits that can be highly advantageous for business travelers:
– MasterRental Coverage: This benefit covers physical damage or theft of an eligible rental vehicle, as well as loss-of-use charges, towing costs, and late drop-off charges.
– Mastercard Travel and Lifestyle Services: As a World Elite Mastercard® Cardholder, you gain access to a suite of benefits, amenities, and upgrades, including preferential treatment and premium travel offers from top travel companies across various sectors.

Purchase Protection and Extended Warranty

The card provides robust purchase protection and extended warranty benefits, making it a reliable choice for businesses that frequently invest in new equipment or other high-value items.

Fraud Protection

Fraud protection is a critical aspect of any credit card, and the Priority Destinations® World Elite Business Credit Card offers comprehensive measures to safeguard your business’s financial transactions.

No Foreign Transaction Fees

For businesses that operate internationally or have frequent travel requirements, the absence of foreign transaction fees is a significant advantage. This feature allows you to make purchases abroad without incurring additional costs, thereby optimizing your spending.

Conclusion

In conclusion, the Priority Destinations® World Elite Business Credit Card from First Hawaiian Bank offers a compelling mix of rewards, travel benefits, and competitive rates that make it an attractive option for many businesses. The card’s 2x miles on qualifying purchases up to $50,000 per anniversary year and a generous sign-up bonus can provide substantial value for businesses with significant spending. Additionally, the no foreign transaction fees and extensive travel benefits make it a great choice for businesses with international operations or frequent travel requirements.
However, the card’s $75 annual fee and the absence of an introductory APR for purchases or balance transfers may be drawbacks for some businesses. It’s essential to weigh these factors against the card’s benefits to determine if it aligns with your business’s financial needs and goals.
Overall, the Priority Destinations® World Elite Business Credit Card is a robust option for businesses seeking to maximize their rewards and enjoy comprehensive travel benefits. If your business has substantial annual expenditures and you prioritize earning rewards and travel perks, this card could be an excellent addition to your financial toolkit.