Credit Union1 Business Visa® Platinum Credit Card Review
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.
Credit Union1 offers its members the Credit Union1 Business Visa® Platinum Credit Card, a small business credit card, which lets them earn 1 point for every dollar spent on purchases. Rewards can be redeemed through uChoose Rewards®, and when redeeming, they can choose from a variety of options, such as products, travel, experiences, activities, and event tickets.
If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Credit Union1 Business Visa® Platinum Credit Card
BEST FOR:
Credit Union1 members who want to maximize business purchases
Intro APR
None
Regular APR
Prime + 7.74% variable
Annual Fee
Credit Needed
Good to Excellent
- Earn 1 point per dollar spent on purchases made for their business.
Pros
- Low regular APR
- No annual and balance transfer fees
Cons
- No interest-free financing option
- Only exclusive for Credit Union1 members
- No introductory rewards
- Limited features
- Visa Zero Liability policy: Visa cardholders are protected from fraudulent transactions.
- Fraud monitoring: Credit Union1 ensures they monitor any possible fraudulent transactions and inform their cardholders 24/7 in the event they detected one
- Employee card monitoring: Cardholders can streamline spending and tracking in one place while adding authorized users into their Credit Union1 Business Visa® Platinum Credit Card
Intro APR
None
Regular APR
Prime + 7.74% variable
Annual Fee
Credit Needed
Good to Excellent
- Earn 1 point per dollar spent on purchases made for their business.
Pros
- Low regular APR
- No annual and balance transfer fees
Cons
- No interest-free financing option
- Only exclusive for Credit Union1 members
- No introductory rewards
- Limited features
- Visa Zero Liability policy: Visa cardholders are protected from fraudulent transactions.
- Fraud monitoring: Credit Union1 ensures they monitor any possible fraudulent transactions and inform their cardholders 24/7 in the event they detected one
- Employee card monitoring: Cardholders can streamline spending and tracking in one place while adding authorized users into their Credit Union1 Business Visa® Platinum Credit Card
How We Evaluate Cash Back Business Credit Cards
When grading cash back business credit cards like the Credit Union1 Business Visa® Platinum Credit Card, we give the most weight to ongoing rewards. Then, we consider the introductory rewards, annual fee, introductory and ongoing annual percentage rates (APRs), and additional card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 0 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 10 | 15 |
Introductory APR | 5 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 60 | 100 |
Who the Credit Union1 Business Visa® Platinum Credit Card Is Best For
- Credit Union1 members who want to maximize business purchases: This card is an excellent option if you’re already a Credit Union1 member and want to maximize your spending by earning 1 point per dollar spent on all business purchases.
If this doesn’t fit your business needs, then see our guide to the leading small business credit cards. You may also want to visit our Credit Card Marketplace for our evaluation of other cards.
Credit Union1 Business Visa® Platinum Credit Card Fees
APR
- Introductory APR: None
- Ongoing APR: Prime + 7.74% variable, which will adjust with the prime rate
- Due date: At least 25 days after the close of each billing cycle
Fees
- Annual fee: None
- Cash advance fee: Either $15 or 3% of the amount of each cash advance, whichever is greater
- Multiple card set-up fee: $99
- Foreign transaction fee: 1% of each transaction in United States dollars
- Transaction fee for purchases: None
- Card recovery, document copy, and statement copy fees: $5
- Rush fee: $25
- Late payment fee: Up to $25
- Returned payment fee: Up to $25
Credit Union1 Business Visa® Platinum Credit Card Rewards
- Earn 1 point per dollar spent on business purchases
Points earned can be accessed on uChoose Rewards®. You’ll need a minimum of 1,500 points to redeem rewards, such as travel, gas, groceries, and gift cards, and it can take up to 40 days for earned points to be credited to your account.
How to Make Payments on the Credit Union1 Business Visa® Platinum Credit Card
- Online: You can make payments by transferring funds from your savings or checking account to your credit card through Online Banking. You can also set up automatic monthly payments with ease.
- Mail: Send payment to the address found on your statement or the address below:
Credit Union 1
PO Box 2711
Omaha, NE 68103-2711
Credit Union1 Business Visa® Platinum Credit Card Features
- Visa Zero Liability policy: Visa cardholders are protected from fraudulent transactions.
- Fraud monitoring: Credit Union1 monitors possible fraudulent transactions and informs its cardholders when it detects any
- Employee card monitoring: Cardholders can streamline spending and tracking in one place while adding authorized users to their Credit Union1 Business Visa® Platinum Credit Card
Pros & Cons of the Credit Union1 Business Visa® Platinum Credit Card
| PROS | CONS |
|---|---|
| Low ongoing APR at Prime + 7.74% | No introductory rates for purchases, balance transfers, and cash advances |
| Doesn’t charge annual fees | Only available for members of Credit Union1 |
| No introductory rewards for new cardholders | |
| Limited features compared to similar cards | |
Credit Union1 Business Visa® Platinum Credit Card Alternatives
Chase Ink Business Unlimited®
Chase Ink Business Unlimited® is our best small business credit card and top 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 an interest-free financing on purchases of 0% for the first 12 months after opening an account. It even has an introductory bonus—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
16.24% - 22.24% 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
16.24% - 22.24% 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
American Express Blue Business CashTM is our leading cash back business credit card—it lets you earn 2% cash back on all eligible purchases up to $50,000 per calendar year and 1% when the $50,000 cap is met, making it a great option for those wanting to maximize rewards earned. It doesn’t charge annual fees and features an 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 needing 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.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
17.74% - 25.74% 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, 17.74% - 25.74%, 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
17.74% - 25.74% 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, 17.74% - 25.74%, 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.
U.S. Bank Business Platinum
U.S. Bank Business Platinum is our top-recommended 0% APR business credit card as it offers an introductory APR of 0% on both purchases and balance transfers for the first 18 billing cycles, making it a good alternative for those wanting a longer interest-free financing period. It also doesn’t charge any annual fees, making it easier for business owners to calculate their spending. Unfortunately, it doesn’t offer any introductory and ongoing rewards for new and existing cardholders, and you’ll need Good to 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
Regular APR
16.24% - 25.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good Credit
- U.S. Bank Business Platinum Card
- 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 16.24%-25.24%.
- 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
Regular APR
16.24% - 25.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good Credit
- U.S. Bank Business Platinum Card
- 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 16.24%-25.24%.
- 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.
Bottom Line
Consider the Credit Union1 Business Visa® Platinum Credit Card if you’re already an active member of Credit Union1 and wish to maximize business purchases. It offers 1 point for every dollar spent on eligible purchases, doesn’t charge annual and balance transfer fees, and has a relatively low regular APR at prime + 7.74%. However, it lacks interest-free financing options and introductory rewards.
If this isn’t the right card for your business, head over to our Credit Card Marketplace.
