With no preset limit and solid, business-friendly cash rewards, the SunTrust Business Credit Card offers unbeatable flexibility. In this article, be sure to get all of your questions answered here.
The SunTrust Business Cash Rewards Credit Card offers business owners a cashback rewards program. For the first 12 months, you’ll earn 5% cashback on the first $2,000 spent each month on office supplies and fuel.
After that, office supplies and fuel earn 3% cashback on the first $2,000 in purchases every month. All other purchases earn 1% cash back.
There is an annual fee of $0, and the APR for purchases ranges from 12.24% to 19.24%, based on your creditworthiness.
What is Suntrust Bank?
Both existing brands have disclosed that members should continue banking as usual. They promise to make the transition seamless for their members. And, new credit applications should be processed as usual.
What is a Suntrust Business Credit Card?
Suntrust business credit cards are popular funding options for companies interested in building their credit or accessing multiple lines of credit for working capital/investments.
The brand offers a cash rewards card for businesses and a card designed specifically for non-profits.
- Suntrust business credit card rewards include cash back, loyalty cash, automatic rebates, and flexible spending.
- And, non-profit cardholders can leverage rebates on eligible spending.
Rates and Fees
- Issuer NameSunTrust Bank
- Annual Fee$0
- 24% to 19.24%, based on your creditworthiness
- Penalty APR25.24%
- Purchase Intro APR0% Introductory APR for the first 12 months
- Balance Transfer Fee$5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance FeeEither $5 or 3% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee3% on the amount of the transaction (after conversion to USD)
The SunTrust Business Cash Rewards Credit Card offers 5% cash back on the first $2,000 spent monthly on office supplies and fuel for the first 12 months. After that, the first $2,000 spent each month on fuel and office supplies earns 3% cash back. All other purchases earn 1% cash back.
You can receive a cash deposit bonus of 10% to 25% when you redeem your rewards directly into a SunTrust Business checking, savings or money market account.
Cardholders with a SunTrust Business checking, savings or money market account will earn a 10% cash deposit bonus, while cardholders with a SunTrust Business Advantage Plus Checking account will earn a 25% cash deposit bonus.
- No expiration on cash
- Redeem for statement credit, check or bank deposit
- Must wait until end of closing period to redeem rewards
- $500 annual spending limit on bonus rewards
- A minimum of $25 cash back can be redeemed
SunTrust Small Business Credit Card Features
- 0% APR Introductory Rate on purchases for the first 12 months. After that your variable APR (Annual Percentage Rate) will be 11.24% – 17.24%
- 5% cash back on the first $2,000 spent monthly on office supply and fuel qualifying purchases1 within the first 12 months.
- 3% cash back thereafter on the first $2,000 spent monthly on office supply and fuel qualifying purchases.
- 1% cash back on qualifying purchases.
- No Annual Fee
What Should I Know Before I Apply?
To open a SunTrust Business Cash Rewards Credit Card, you must be an authorized representative of your company and live within SunTrust’s service area.
You’ll also need to provide information like:
- Business name and contact information.
- Business tax ID number.
- Information about your business and its finances.
The guarantor must also provide their:
- Full name and contact information.
- Date of birth and Social Security number.
- Annual income.
Applying for the SunTrust Business Cash Rewards Credit Card
- Go to the SunTrust website and find the SunTrust Business Cash Rewards Credit Card in the list of small business offers. Click Apply now.
- Complete the application form with your personal and business information.
- Review and submit your application.
If you have gotten the card, you should follow the following:
- Download the SunTrust Business Mobile app. Use the app to pay your bills, monitor your account, find an ATM and more.
- Pay on time. Paying late can hurt with a penalty fee of up to $49. After two late payments, SunTrust may impose a penalty APR of 26.24%, which can last for six consecutive months of paying the minimum on time. You’ll also lose your intro APR period on purchases.
- Avoid paying fees. This card is heavy on fees. You’ll pay a fee for foreign transactions, balance transfers, cash advances, overdraft, late payments, returned payments, stopped payments and research.
- Customer service. Call 800-786-8787 (800-SUNTRUST) for automated assistance 24/7.
Who Should Get the SunTrust Small Business Credit Card?
Small business owners who already bank with SunTrust can’t go wrong by signing up for the institution’s business credit card. Some of its best features are its free employee cards, no annual fee, and extra rewards potential for pre-existing clients.
It’ll work especially well for entrepreneurs who spend a lot on office supplies and gas, and who don’t often travel abroad for business.
If you’re not already a SunTrust client, but there’s a local branch near you, signing up for this card is worth your consideration. Banks reward loyalty, so developing a strong relationship with your local financial institution now could help your odds of securing a small business loan from them in the future.
But even SunTrust customers might find the bank’s small business credit card rewards program lacking, at least in comparison to other business credit cards on the market. If you don’t want your rewards potential to cap out at $2,000 annually, look toward the Chase Ink Business Cash credit card.
And the Capital One Spark Cash for Business card takes all the guesswork out of your rewards program, so you can spend safe in the knowledge that know you’re earning whenever, and wherever, you go.
Suntrust offers a great business credit card with a 0% promotional interest rate that lasts 12 months. Thereafter, the APR is competitive. The cashback rewards during this period are impressive.
And, Suntrust Bank members can take advantage of even more business savings. All in all, when you’re building business credit, this is an excellent card to aim for.
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