An overdraft fee is a banking term that refers to the charges incurred when you don’t have enough funds in your account to cover a check, withdrawal, debit card payment, or auto-debit transaction. Overdraft fees are charged when the bank temporarily covers a financial transaction against insufficient funds, which causes your account balance to go…
About the Author
Benilyn Formoso - Suralta
Benilyn Formoso-Suralta is a staff writer at Fit Small Business focusing on finance, accounting, and Small Business Loans. She brings with her 12 years of experience as a banking officer with the Bank of the Philippine Islands with expertise in consumer banking, real estate sales, and foreign exchanges.
In her downtime, Benilyn is a yoga and fitness enthusiast. She also enjoys spending time at the beach with her two children.
What Is APY?
APY, or annual percentage yield, is a banking term used to measure how much interest you will earn on a bank account for one calendar year. APY includes the compounding interest, which is the interest paid on both principal and earnings. APY is calculated using the annual interest rate and the frequency of compounding periods…
What Is Commercial Banking?
Commercial banking is a banking term that refers to bank products and services specifically designed to meet the financial needs of corporations, institutions, and government clients, instead of individual clients. Commercial banking products and services include savings and checking accounts, merchant services, treasury services, commercial loans, global trade services, payroll services, and other corporate-related products….
Wells Fargo Business Secured Credit Card Review
Wells Fargo Business Secured Card allows small business owners to build or rebuild their credit score. $25 annual fee per card issued.
M&T Business Rewards Credit Card Review
The M&T Business Rewards Credit Card is an excellent cash back card designed for business owners who prefer to earn fixed-rate rewards on all purchases and typically spend 18,000 or less per year. This small business credit card pays unlimited 1.5% cash back on every purchase with no annual fee. Who the M&T Business Rewards…
TD Business Solutions Credit Card Review
The TD Business Solutions Credit Card is an excellent cash back card that’s best for business owners who spend regularly on telecommunications services. This small business credit card offers rewards that can be used for cash back, gift cards, merchandise, or travel. It comes with additional perks, including zero liability and instant card replacement. Who…
Hawaiian Airlines® Business Mastercard® Review
The Hawaiian Airlines® Business Mastercard® is an excellent travel card designed for business owners who primarily travel with Hawaiian Airlines. This small business credit card offers rewards on both travel-related and everyday purchases that can be used for free flights. What’s more, cardholders can share miles with family and friends for free. Who the Hawaiian…
AAdvantage® Aviator® Business Mastercard® Review
The AAdvantage® Aviator® Business Mastercard® is an excellent travel card designed for business owners who fly primarily with American Airlines. This small business credit card offers rewards that can be used for free flights. It also offers travel perks like a free checked bag, preferred boarding, companion certificate, and discounted inflight purchases. Who the AAdvantage®…
UnitedSM Explorer Business Card Review
The UnitedSM Explorer Business Card is an excellent travel card designed for business owners who fly frequently with United airlines. This small business credit card offers travel rewards that can be redeemed for free flights as well as travel perks like free checked bags, United Club passes, and priority boarding. Who the UnitedSM Explorer Business…
United ClubSM Business Card Review
The United ClubSM Business Card is an excellent travel card designed for business owners who primarily fly with United Airlines. This small business credit card offers travel rewards that can be redeemed for free flights with United and its partner airlines. The $450 annual fee includes a United Club membership, valued at $550. Who Is…
JetBlue Business Card Review
The JetBlue Business Card is an excellent travel card designed for business owners who frequently fly with JetBlue. This small business credit card offers travel perks, including 50% savings on eligible inflight purchases, free first checked bags for the cardholder and up to three companions, and travel rewards that can be redeemed for free flights….
CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® Review
CitiBusiness AAdvantage Platinum Select World Mastercard allows American Airlines frequent fliers to earn bonus miles on business purchases.