Connexus Credit Union Smart Business Rewards Visa Signature® Card Review for 2022
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.
The Connexus Credit Union Smart Business Rewards Visa Signature® Card is a small business credit card offered by Connexus Credit Union and issued by Elan Financial Services. It features automatic 2x rewards on your top two spend categories every month, 1x rewards on all other purchases, and a bonus reward of 20,000 points (or $200) after spending $500 within the first 90 days after opening an account. On top of that, it lets you choose how you want to redeem your earned rewards, be it via cash back, travel, gift cards, and merchandise.
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.
Connexus Credit Union Smart Business Rewards Visa Signature® Card
Intro APR
None
Regular APR
18.24% to 23.24% variable
Annual Fee
$95 for account owners / $0 for authorized employees
Credit Needed
Good to Excellent
- Automatically earn 2X rewards points in your top 2 spend categories every month
- 1X rewards points on all other eligible purchases
Pros
- Generous welcome offer
- Multiple ways of redeeming rewards
- No need to be a member of the Connexus Credit Union to apply
Cons
- No interest-free financing option
- With annual fees
- Limited rewards
- No unique features
- Free employee cards. Not only will it help you keep track of employee expenses, it will let you earn as many rewards as possible.
Intro APR
None
Regular APR
18.24% to 23.24% variable
Annual Fee
$95 for account owners / $0 for authorized employees
Credit Needed
Good to Excellent
- Automatically earn 2X rewards points in your top 2 spend categories every month
- 1X rewards points on all other eligible purchases
Pros
- Generous welcome offer
- Multiple ways of redeeming rewards
- No need to be a member of the Connexus Credit Union to apply
Cons
- No interest-free financing option
- With annual fees
- Limited rewards
- No unique features
- Free employee cards. Not only will it help you keep track of employee expenses, it will let you earn as many rewards as possible.
How We Evaluate Cash Back Business Credit Cards
When grading fixed-rate cash back business credit cards like the Connexus Credit Union Smart Business Rewards Visa Signature® Card, we first consider the ongoing rewards. Then, we rate the introductory rewards, annual fees, introductory and ongoing annual percentage rates (APRs), and additional card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 25 | 30 |
Introductory Rewards | 10 | 20 |
Additional Features | 8 | 15 |
Annual Fee | 15 | 15 |
Introductory APR | 10 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 78 | 100 |
Who the Connexus Credit Union Smart Business Rewards Visa Signature® Card Is Best For
- Those who want to maximize earned rewards: Besides earning 2x rewards points for your two spend categories and 1x points on all other purchases, it allows you to choose how to redeem them, such as through cash back, travel, gift cards, and merchandise.
- Those who travel internationally frequently: This business credit card is a good option for those traveling to other countries as it doesn’t charge any foreign transaction fees.
If this card doesn’t fit your needs, then see our guide to the best small business credit cards. You may also want to head over to our Credit Card Marketplace for our evaluation of other business credit cards.
Connexus Credit Union Smart Business Rewards Visa Signature® Card Fees
APR
- Introductory APR: None
- Ongoing APR for purchases and balance transfers: 18.24% to 23.24% variable, which will adjust with the prime rate
- Cash advance APR: 28.24% variable, which will adjust with the prime rate
- Penalty APR*: 29.49% variable, which will adjust based on the prime rate. This APR will apply to your account if you:
- Made payments five calendar days late twice or 30 calendar days late once
- Made a returned payment
- Exceeded your credit limit twice in 12 consecutive months.
*Note that this APR will be applied until you make six consecutive minimum payments when due without exceeding your credit limit.
- Due date: 24 to 30 days after the close of each billing cycle
- Minimum interest charge: No less than $1
Fees
- Annual fees: $0 introductory annual fee for the first 12 months. After that, $95 for the account owners and $0 for authorized employees
- Balance transfer and convenience check cash advance fees: Either 3% of the amount of each transfer/advance or $5 minimum, whichever is greater.
- Cash advance ATM, cash advance, and cash equivalent advance: Either 4% of the amount of each advance or $10 minimum, whichever is greater
- Foreign transaction fees: None
- Late payment: $19 on balance up to $100, $29 on balances from $100 up to $250, and $39 on balances of $250 or more
- Returned payment: $35
- Overlimit: $39
Connexus Credit Union Smart Business Rewards Visa Signature® Card Rewards
- 20,000 bonus rewards points (equivalent to a $200 bonus) after making eligible purchases of $500 within the first 90 days of account opening
- 2x rewards points in your top two spend categories every month
- 1x rewards points on all other eligible purchases
There are no caps or limits as to the number of points you can earn. Also, you can redeem your points in multiple ways: cash back, travel, gift cards, and merchandise.
How To Make Payments on the Connexus Credit Union Smart Business Rewards Visa Signature® Card
- Digital banking: Visit the Elan Financial Services’ credit card account portal to manage your Connexus Credit Union Smart Business Rewards Visa Signature® Card and make payments on your remaining balance.
- Mobile app: You can pay through its mobile app, which is available for Android and iOS users.
- Nearest CO-OP branch: Connexus is part of the CO-OP shared branch network, making it easier for its members to select transactions at the branch of another in-network credit union. Search for the nearest shared branch based on your business’s location.
- Phone: You can directly pay your credit card bill by calling (8000 845-5025 and incur an additional servicing fee of $9, or you can transfer from your Connexus account through telephone banking by calling either (800) 438-2747 or (715) 847-4701. Payments made through either option will be received instantly.
Connexus Credit Union Smart Business Rewards Visa Signature® Card Features
- Free employee cards. Besides helping you keep track of employee expenses, it’ll let you earn as many rewards as possible.
Pros & Cons of the Connexus Credit Union Smart Business Rewards Visa Signature® Card
| PROS | CONS |
|---|---|
| Offers generous welcome offer at 20,000 bonus rewards or $200 after spending $500 within the first 90 days of account opening | Lacks interest-free financing options for both purchases and balance transfers |
| Multiple ways of redeeming rewards, such as cash back, travel, gift cards, and merchandise | Charges annual fees after the first year at $95 |
| No need to be a member of the Connexus Credit Union to apply as this card is managed by Elan Financial Services | Limited premium rewards as only the top two spend categories earn 2x rewards points every month |
| Both Connexus Credit Union and Elan Financial Services do not offer unique features that would make their credit cards stand out from the rest | |
Connexus Credit Union Smart Business Rewards Visa Signature® Card Alternatives
Chase Ink Business Unlimited®
Chase Ink Business Unlimited® is our top-recommended small business credit card and best credit card for new businesses with no credit history. It offers unlimited 1.5% cash back rewards on all business-related purchases and has an interest-free financing option for purchases for the first 12 months after opening an account. On top of that, it provides an introductory bonus where new cardholders can get a $750 cash back after spending $7,500 on purchases within the first three months of account opening.
Ink Business Unlimited® Credit 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:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
15.49% - 21.49% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Intro APR
0% Intro APR on Purchases
Regular APR
15.49% - 21.49% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
American Express Blue Business CashTM
The American Express Blue Business CashTM is our leading cash back business credit card as you can earn 2% cash back on all eligible purchases (up to $50,000 per calendar year), then 1% when the cap is met. It’s a good option for those wanting to maximize the rewards earned when using their business credit card. It doesn’t charge annual fees and features expanded buying power, where it allows you to spend over your credit limit when needed. However, it doesn’t allow cash advances, making it a disadvantage for those who need to take out a cash advance from time to time.
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.
Intro APR
0% on purchases
Regular APR
16.24% - 24.24% 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, 16.24% - 24.24%, 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
16.24% - 24.24% 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, 16.24% - 24.24%, 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.
Capital One® Spark® Miles Select for Business
The Capital One® Spark® Miles Select for Business is our top business credit card for travel as you can earn 5x mileage points on hotels and rental cars booked through Capital One Travel and an unlimited 1.5x miles on all other purchases. It also offers an introductory bonus of 20,000 miles, equivalent to $200 in travel, when you spend $3,000 on purchases within the first three months after opening an account. On top of that, it has an interest-free financing option on purchases for the first nine billing cycles and doesn’t charge any foreign transaction and annual fees.
Capital One® Spark® Miles Select for Business
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:
Travel rewards and annual spending less than $19,000
Intro APR
0% on purchases
Regular APR
15.49% - 25.49% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Intro APR
0% on purchases
Regular APR
15.49% - 25.49% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Bottom Line
Connexus Credit Union Smart Business Rewards Visa Signature® Card is a great option if your spending is only limited to two categories, as it lets you earn 2x rewards points, with no cap on the number of points earned. While it doesn’t have any interest-free financing option for both purchases and balance transfers, it offers a relatively low regular APR and a generous introductory reward bonus. Earned rewards can be redeemed in multiple ways, maximizing where you can save up on your business expenses.
If this card isn’t right for you, visit our credit card marketplace to find one that’s a better fit.
