Bank of Oklahoma Visa® Business Cash Preferred Card Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
Bank of Oklahoma Visa® Business Cash Preferred Credit Card is a basic cash back credit card that offers unlimited rewards without charging an annual fee. It’s designed for business owners who have existing business savings or checking accounts with Bank of Oklahoma. This small business credit card offers Visa-specific benefits, including extended warranty and purchase protection.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Bank of Oklahoma Visa® Business Cash Preferred Card
BEST FOR:
Those with existing business savings or checking accounts with Bank of Oklahoma
Intro APR
0%
Regular APR
17.74% to 26.74% variable
Annual Fee
None
Credit Needed
Good
- 3% cash back on eligible purchases at gas stations, cell phone service providers, office supply stores, and restaurants, with no caps or limits on the cash back you can earn
- Unlimited 1% cash back on all other eligible purchases, with no caps or limits on the cash back you can earn
- $100 annual software credit after spending on software subscriptions for 11 consecutive months
Pros
- With sign-up bonus
- No annual fee
- No caps or limits on the cash back you can earn
Cons
- Offers short intro APR period on both purchases and balance transfers
- Rewards expire five years from the end of the quarter in which they earned
- Online Reporting with Spend Analysis: Bank of Oklahoma provides a free online tool that allows you to review your credit card spending on a monthly, quarterly, annual, or year-to-date basis.
- Fraud Protection & Zero Fraud Liability: Fraud protection helps detect and prevent fraudulent activities by monitoring your account regularly.
- Auto Rental Collision Damage Waiver Insurance: You’re covered with auto rental collision damage waiver insurance when you charge your entire car rental to your Visa business credit card.
- Travel & Emergency Assistance: When you’re traveling, you can call the 24-hour Visa Assistance Center at (800) VISA-911 for assistance or information in case of an emergency.
Intro APR
0%
Regular APR
17.74% to 26.74% variable
Annual Fee
None
Credit Needed
Good
- 3% cash back on eligible purchases at gas stations, cell phone service providers, office supply stores, and restaurants, with no caps or limits on the cash back you can earn
- Unlimited 1% cash back on all other eligible purchases, with no caps or limits on the cash back you can earn
- $100 annual software credit after spending on software subscriptions for 11 consecutive months
Pros
- With sign-up bonus
- No annual fee
- No caps or limits on the cash back you can earn
Cons
- Offers short intro APR period on both purchases and balance transfers
- Rewards expire five years from the end of the quarter in which they earned
- Online Reporting with Spend Analysis: Bank of Oklahoma provides a free online tool that allows you to review your credit card spending on a monthly, quarterly, annual, or year-to-date basis.
- Fraud Protection & Zero Fraud Liability: Fraud protection helps detect and prevent fraudulent activities by monitoring your account regularly.
- Auto Rental Collision Damage Waiver Insurance: You’re covered with auto rental collision damage waiver insurance when you charge your entire car rental to your Visa business credit card.
- Travel & Emergency Assistance: When you’re traveling, you can call the 24-hour Visa Assistance Center at (800) VISA-911 for assistance or information in case of an emergency.
How We Evaluate Cash Back Business Credit Cards
When evaluating cash back business credit cards like the Bank of Oklahoma Visa® Business Cash Preferred Credit Card, we first take into account the ongoing and introductory rewards. We also consider the annual fee, introductory and ongoing annual percentage rates (APRs), and other card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 10 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 15 | 15 |
Introductory APR | 5 | 10 |
Ongoing APR | 7 | 10 |
Total Score | 72 | 100 |
Who the Bank of Oklahoma Visa® Business Cash Preferred Credit Card Is Best For
- Those who prefer to earn cash back: It offers 3% cash back on eligible purchases at gas stations, cell phone service providers, office supply stores, and restaurants and 1% cash back on all other eligible purchases, with no caps or limits on the cash back you can earn.
- Those who pay for software subscriptions: You’ll receive a $100 annual software credit when you use this card to pay for a subscription for 11 consecutive months.
- Those with business savings or checking accounts with Bank of Oklahoma: If you already bank with the provider, getting this card allows you to manage all of your business transactions in one bank.
Check out our recommended alternatives below if this card doesn’t fit your business needs.
Bank of Oklahoma Visa® Business Cash Preferred Credit Card Fees
APR
- Introductory APR on purchases: 0% for the first six billing cycles after opening an account
- Introductory APR on balance transfers: 0% for the first six billing cycles for balances transferred within 186 days from account opening
- Ongoing APR on purchases and balance transfers: 17.74% to 26.74% variable, which will adjust with the prime rate
- Cash advance APR: 29.74% variable, which will adjust with the prime rate
- Penalty APR: 30.99% variable, which will adjust with the prime rate; applied to your account if you:
- Made payments five calendar days late twice or 30 calendar days late once;
- Made a returned payment, or;
- Exceeded your credit limit twice in 12 consecutive months
Penalty APR will apply until you make six consecutive minimum payments and don’t exceed your credit limit during that period.
Fees
- Annual: $0
- Balance transfer and convenience check cash advance: Either $5 or 3% of the amount transferred, whichever is higher
- Foreign transaction: Either 2% of each foreign transaction in US dollars or 3% of each foreign transaction in a foreign currency
- Cash advance, cash advance ATM, and cash equivalent advance: Either $10 or 4% of the amount of each transaction, whichever is greater
- Overdraft protection: $10
- Late payment:
- $19 on balances up to $100
- $29 on balances from $100 to $250
- $39 on balances of $250 or more
- Returned payment: $35
- Overlimit: $39
Your due date is within 24 to 30 days after the close of each billing cycle.
Bank of Oklahoma Visa® Business Cash Preferred Credit Card Rewards
- $25 cash back bonus after making your first purchase
- 3% cash back on eligible purchases at gas stations, cell phone service providers, office supply stores, and restaurants, with no caps or limits on the cash back you can earn
- Unlimited 1% cash back on all other eligible purchases
- $100 annual software credit after spending on subscriptions for 11 consecutive months
You can redeem your cash rewards in the form of a statement credit, a deposit into your savings or checking account, or a rewards card. You need to redeem a minimum of $25, and redemption must be in increments of $25. You can also use your rewards when you check out with PayPal via Pay with Rewards. Note that rewards expire five years from the end of the quarter in which they’re earned.
How To Make Payments on the Bank of Oklahoma Visa® Business Cash Preferred Credit Card
- Auto Pay: You can set up an automatic monthly withdrawal from your Bank of Oklahoma checking or savings account to pay your credit card bill.
- Phone: Call (866) 552-8855.
- Online: Log in to your account at www.myaccountaccess.com.
Bank of Oklahoma Visa® Business Cash Preferred Credit Card Features
- Online reporting with spend analysis: Bank of Oklahoma provides a free online tool that allows you to review your credit card spending on a monthly, quarterly, annual, or year-to-date basis. You can view your expenses by total spending, average ticket, or merchant and download an account summary of up to 36 months of data.
- Fraud protection & zero fraud liability: Fraud protection helps detect and prevent fraudulent activities by monitoring your account regularly, and the bank will notify you of any unusual card activity. Zero fraud liability protects you from fraudulent use of your card or account information if your card is lost or stolen, and you won’t be responsible for any unauthorized purchases.
- Extended warranty: The extended warranty will double the manufacturer’s warranty on purchases made with your card. Certain conditions and exclusions apply, so check the terms and conditions detailed in the guide included with your credit card.
- Purchase protection: Items purchased with this card are protected against damage and theft for 90 days. Check the terms and conditions detailed in the guide included with your credit card for certain exclusions.
- Auto rental collision damage waiver insurance: You’re covered with auto rental collision damage insurance when you charge your entire car rental to your Visa business credit card. You need to decline the rental company’s collision damage waiver option to receive 24-hour coverage for damage due to collision or theft.
- Travel & emergency assistance: When you’re traveling, you can call the 24-hour Visa Assistance Center at (800) VISA-911 for assistance or information in case of an emergency. You can call the hotline to report a lost or stolen card and request an emergency card replacement, medical and legal referrals, and transportation assistance. The cardholder will be responsible for any fees associated with these services.
Bank of Oklahoma Visa® Business Cash Preferred Credit Card Alternatives
American Express Blue Business CashTM
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
17.99% - 25.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.99% - 25.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
17.99% - 25.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.99% - 25.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
- American Express Blue Business CashTM is best for those who want better cash back rewards
- Offers a 0% introductory APR on purchases for the first 12 months
- Doesn’t charge annual fees
- Lets you earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% cash back earned is credited to your statement automatically
- Is our best cash back business credit card
Bank of Oklahoma Visa® Business Real Reward Credit Card
Bank of Oklahoma Visa® Business Real Rewards Credit Card
BEST FOR:
Those who prefer fixed-rate rewards
Intro APR
0% APR for the first six billing cycles
Regular APR
17.74% to 26.74% variable
Annual Fee
$0
Credit Needed
Good
- 2,500 bonus points after making your first purchase, redeemable for $25 cash back, merchandise, gift cards, or travel savings
- Unlimited 1.5 cash back on all other eligible purchases, with no caps or limits on the points you can earn
Pros
- With sign-up bonus
- No annual fee
- No caps or limits on the cash back you can earn
Cons
- Offers short intro APR period on both purchases and balance transfers
- Rewards expire five years from the end of the quarter in which they earned
- Online reporting with spend analysis: Bank of Oklahoma provides a free online tool that allows you to review your credit card spending on a monthly, quarterly, annual, or year-to-date basis.
- Fraud protection and zero fraud liability: Fraud protection helps detect and prevent fraudulent activities by monitoring your account regularly.
- Auto rental collision damage waiver insurance: You’re covered with auto rental collision damage waiver insurance when you charge your entire car rental to your Visa business credit card.
- Travel and emergency assistance: When you’re traveling, you can call the 24-hour Visa Assistance Center at (800) VISA-911 for assistance or information in case of an emergency.
Intro APR
0% APR for the first six billing cycles
Regular APR
17.74% to 26.74% variable
Annual Fee
$0
Credit Needed
Good
- 2,500 bonus points after making your first purchase, redeemable for $25 cash back, merchandise, gift cards, or travel savings
- Unlimited 1.5 cash back on all other eligible purchases, with no caps or limits on the points you can earn
Pros
- With sign-up bonus
- No annual fee
- No caps or limits on the cash back you can earn
Cons
- Offers short intro APR period on both purchases and balance transfers
- Rewards expire five years from the end of the quarter in which they earned
- Online reporting with spend analysis: Bank of Oklahoma provides a free online tool that allows you to review your credit card spending on a monthly, quarterly, annual, or year-to-date basis.
- Fraud protection and zero fraud liability: Fraud protection helps detect and prevent fraudulent activities by monitoring your account regularly.
- Auto rental collision damage waiver insurance: You’re covered with auto rental collision damage waiver insurance when you charge your entire car rental to your Visa business credit card.
- Travel and emergency assistance: When you’re traveling, you can call the 24-hour Visa Assistance Center at (800) VISA-911 for assistance or information in case of an emergency.
- Bank of Oklahoma Visa® Business Real Reward Credit Card is a viable alternative if you prefer fixed-rate rewards and have existing business savings and checking accounts with Bank of Oklahoma
- Offers a 0% introductory APR on purchases and balance transfers for the first six billing cycles
- Doesn’t charge annual fees
- Lets you earn 1% cash back on all eligible purchases
U.S. Bank Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
Intro APR
Regular APR
18.74% - 27.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.74% - 27.74%.
- No annual fee.
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
Regular APR
18.74% - 27.74% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.74% - 27.74%.
- No annual fee.
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- U.S. Bank Triple Cash Rewards World Elite Mastercard® is a great choice for those who want 0% APR on both purchases and balance transfers for the first 15 billing cycles
- Doesn’t charge annual fees
- Offers 5% cash back on prepaid hotels and car rentals directly booked in the Rewards Center, 3% cash back on eligible purchases at gas and electric vehicle (EV) charging stations, office supply stores, cell phone service providers, and restaurants, and 1% cash back on all other net purchases
- Is one of our top-recommended 0% APR business credit cards
For more options, visit our guide to the best small business credit cards.
Bottom Line
Bank of Oklahoma Visa® Business Cash Preferred Credit Card is great if you want to earn cash back rewards on your business purchases and pay for software subscriptions. Not only does it offer an interest-free financing option on both purchases and balance transfers for the first six billing cycles, but it also lets you earn 3% cash back on eligible purchases at gas stations, cell phone service providers, office supply stores, and restaurants and 1% cash back on all other eligible purchases.
