Connexus Credit Union Visa® Business 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.
Connexus Credit Union Visa® Business Card is a small business credit card offered by Connexus Credit Union and issued by Elan Financial Services. It offers an interest-free financing option for both purchases and balance transfers for the first 18 billing cycles after opening an account, making it a great option for those who want purchasing power if they intend to make large purchases, unexpected expenses, or last-minute necessities.
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 Visa® Business Card
Intro APR
0%
Regular APR
14.24% to 23.24% variable
Annual Fee
None
Credit Needed
Good to Excellent
Pros
- With long interest-free financing option for purchases and balance transfers
- Don’t need to be a member of Connexus Credit Union to apply
Cons
- No introductory and ongoing rewards
- Charges high cash advance and penalty annual percentage rates (APRs)
- No unique features that will make the card stand out
- Zero Fraud Liability. Elan Financial Services provide Zero Fraud Liability for unauthorized transactions.
- 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
0%
Regular APR
14.24% to 23.24% variable
Annual Fee
None
Credit Needed
Good to Excellent
Pros
- With long interest-free financing option for purchases and balance transfers
- Don’t need to be a member of Connexus Credit Union to apply
Cons
- No introductory and ongoing rewards
- Charges high cash advance and penalty annual percentage rates (APRs)
- No unique features that will make the card stand out
- Zero Fraud Liability. Elan Financial Services provide Zero Fraud Liability for unauthorized transactions.
- 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 Business Credit Cards
When evaluating a low-interest business credit card like the Connexus Credit Union Visa® Business Card, we consider the introductory and ongoing APR first. Then, we evaluate introductory and ongoing rewards as well as additional features like purchase protection and extended warranty protection.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Introductory APR | 33 | 35 |
Ongoing APR | 29 | 35 |
Features | 5 | 10 |
Introductory Rewards | 0 | 10 |
Ongoing Rewards | 0 | 10 |
Total Score | 67 | 100 |
Who the Connexus Credit Union Visa® Business Card Is Best For
- Those who want purchasing power: Connexus Credit Union Visa® Business Card is a viable option as it has an interest-financing option of 0% APR on purchases and balance transfers for 18 billing cycles.
If you think this card doesn’t fit your needs, then see our guides to the leading small business credit cards. You may also want to check our Credit Card Marketplace for our evaluation of other business credit cards.
Connexus Credit Union Visa® Business Card Fees
APR
- Introductory APR: 0% APR on both purchases and balance transfers for the first 18 billing cycles after account opening.
- Ongoing APR for purchases and balance transfers: 14.24% 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 with the prime rate. This will be applied to your account if you do one or more of the following:
- Made payments five calendar days late twice or 30 calendar days 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 and don’t exceed 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 fee: None
- Balance transfer and convenience check cash advance fees: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
- Cash advance ATM, cash advance, and cash equivalent advance fees: Either 4% of the amount of each advance or $10 minimum, whichever is greater
- Overdraft protection: $10
- Foreign transaction fees:
- 2% of each foreign purchase transaction or foreign ATM advance transaction in US Dollars
- 3% of each foreign purchase transaction or foreign ATM advance transaction in a foreign currency
- Late payment:
- $19 on balances up to $100
- $29 on balances from $100 up to $250
- $39 on balances of $250 or more
- Returned payment: $35
- Overlimit: $39
Connexus Credit Union Visa® Business Card Rewards
Connexus Credit Union Visa® Business Card doesn’t offer any introductory and ongoing rewards for their new and existing cardholders. Despite the lack of rewards earned after using, it offers instead a longer interest-free financing option that lets cardholders have purchasing power in making their transactions for their business.
How To Make Payments on the Connexus Credit Union Visa® Business Card
- Digital banking: Visit the Elan Financial Services credit card account portal to manage your Connexus Credit Union Visa® Business Cash Preferred Card and make your payments on your remaining balance.
- Connexus CU mobile app: Another way for you to pay your credit card bill would be through their mobile app, which is available for Android and Apple 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. Simply search for the nearest shared branch based on your business’ location to pay for your credit card bills.
- Phone: You can either directly pay your credit card bill by calling (800) 845-5025 and incur an additional servicing fee of $9, or you can make a transfer from your Connexus account through telephone banking by calling either (800) 438-2747 or (715) 847-4701. Payments made either way will be received instantly.
Connexus Credit Union Visa® Business Card Features
- Zero Fraud Liability: Elan Financial Services provide Zero Fraud Liability for unauthorized transactions.
- Free employee cards: Not only will this help you keep track of employee expenses, but it’ll also let you earn as many rewards as possible.
Pros & Cons of the Connexus Credit Union Visa® Business Card
| PROS | CONS |
|---|---|
| Offers a long interest-free financing option for both purchases and balance transfers at 0% APR for the first 18 billing cycles | Doesn’t have any introductory and ongoing rewards for new and existing cardholders. |
| No need to be a member of the Connexus Credit Union to apply as this card is managed by Elan FInancial Services | Charges high cash advance and penalty APRs at 28.24% and 29.49% variable, respectively |
| Doesn’t offer any unique features that would make this business credit card stand out compared to others | |
Connexus Credit Union Visa® Business Card Alternatives
U.S. Bank Business Platinum
U.S. Bank Business Platinum is our best 0% APR business credit card as it offers an introductory APR of 0% on both purchases and balance transfers for the first 20 billing cycles, making it a viable alternative for those who want a longer interest-free financing period. It also doesn’t charge any annual fees, making it easier for business owners to calculate their spending. Note that it doesn’t offer any introductory and ongoing rewards for new and existing cardholders and that you’ll need Good/Excellent credit scores to qualify.
U.S. Bank Business Platinum 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:
Extended 0% APR period on purchases and balance transfers
Intro APR
0% Intro APR on purchases and balance transfers for 20 billing cycles.
Regular APR
14.24% - 23.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited time offer: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 14.24% - 23.24%.
- U.S. Bank Business Platinum Card
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Intro APR
0% Intro APR on purchases and balance transfers for 20 billing cycles.
Regular APR
14.24% - 23.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited time offer: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 14.24% - 23.24%.
- U.S. Bank Business Platinum Card
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
U.S. Bank Triple Cash Rewards World Elite Mastercard
U.S. Bank Triple Cash Rewards World Elite Mastercard made it in our evaluation of best 0% APR business credit cards and leading small business credit cards as it not only offers 0% APR for the first 15 billing cycles on both purchases and balance transfers, but it also lets cardholders earn cash back at 3% on eligible gas stations, restaurants, mobile phone service providers, and office supply stores and 1% on all other eligible purchases. Hence, it is a great alternative if you’re planning to make large purchases for your business, at the same time saving on everyday expenses by earning cash back. Additionally, it doesn’t charge any annual fees, and the rewards you earned will never expire.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
Intro APR
0% for first 15 billing cycles
Regular APR
16.24% - 25.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 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 electric vehicle charging stations, office supply stores, cellphone 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 Travel 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 16.24% to 25.24%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus 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
0% for first 15 billing cycles
Regular APR
16.24% - 25.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Limited Time Offer: Earn $500 in cash back. Just spend $4,500 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 electric vehicle charging stations, office supply stores, cellphone 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 Travel 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 16.24% to 25.24%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus 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.
Chase Ink Business Unlimited®
Chase Ink Business Unlimited® is our top-recommended small business credit card and the best credit card for new businesses with no credit history as it offers unlimited 1.5% cash back rewards on all business-related purchases and has interest-free financing on purchases of 0% for the first 12 months after opening an account. On top of this, new cardholders get an introductory bonus of $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
Bottom Line
Connexus Credit Union Visa® Business Card is a great business credit card to consider if you want purchasing power due to your plans of making large purchases as it offers an interest-free financing option of 0% APR for both purchases and balance transfers for the first 18 billing cycles. Despite not offering rewards for both new and existing cardholders, it makes up for relatively low minimum regular APRs for both purchases and balance transfers. While it’s being offered by Connexus Credit Union, it doesn’t require cardholders to be members of Connexus Credit Union, mainly because it’s being issued by Elan Financial Services.
If this isn’t the right card for your business, head over to our Credit Card Marketplace.
