Exchange Bank 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.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
This article is part of a larger series on Best Small Business Credit Cards.
The Exchange Bank Visa® Business Cash Preferred Card is designed for business owners who have an existing deposit account with Exchange Bank. This is also a great option if you want a card with unlimited cash back, no annual fee, and benefits like zero fraud liability and auto rental collision damage waiver.
To see how this card stacks up against others we have reviewed on our site, click Add to Compare on the card below and select up to two additional cards for comparison.
Exchange Bank Visa® Business Cash Preferred 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 have an existing deposit account with Exchange Bank
Intro APR
0% APR for the first six billing cycles on purchases and balance transfers
Regular APR
16.99% to 25.99% variable
Annual Fee
$0
Credit Needed
Good
- $25 bonus cash back after making your first purchase
- Earn 3% cash back on gas, cellphone services, office supplies, and dining expenses; and 1% on all other purchases
- $100 annual software credit after 11 consecutive monthly software transactions
Pros
- Sign-up bonus
- No annual fee
- Unlimited rewards
Cons
- Short 0% APR period
- Rewards do expire
- Free employee cards with individual credit limits
- Protection against unauthorized transactions through zero fraud liability
- Free online reporting to view credit card spending by categories, transaction type, and a defined transactional period
Intro APR
0% APR for the first six billing cycles on purchases and balance transfers
Regular APR
16.99% to 25.99% variable
Annual Fee
$0
Credit Needed
Good
- $25 bonus cash back after making your first purchase
- Earn 3% cash back on gas, cellphone services, office supplies, and dining expenses; and 1% on all other purchases
- $100 annual software credit after 11 consecutive monthly software transactions
Pros
- Sign-up bonus
- No annual fee
- Unlimited rewards
Cons
- Short 0% APR period
- Rewards do expire
- Free employee cards with individual credit limits
- Protection against unauthorized transactions through zero fraud liability
- Free online reporting to view credit card spending by categories, transaction type, and a defined transactional period
When grading cash back business credit cards like the Exchange Bank Visa® Business Cash Preferred Card, we rate the ongoing and introductory rewards first. We also take into account 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 | 6 | 10 |
Ongoing APR | 7 | 10 |
Total Score | 73 | 100 |
Who The Exchange Bank Visa® Business Cash Preferred Card Is Best For
- Business owners who prefer to earn cash back: It offers unlimited cash back rewards on everyday business purchases.
- Business owners who pay for software subscriptions: You’ll receive a $100 annual software credit when you pay for a software subscription for 11 consecutive months.
If this card isn’t what you’re looking for, check out other options by reading our guide to the best small business credit cards.
Exchange Bank Visa® Business Cash Preferred Card Fees
APR
- Introductory APR: 0% APR on purchases and balance transfers for the first six billing cycles after opening an account
- Ongoing APR on purchases and balance transfers: 16.99% to 25.99% variable, which adjusts with the prime rate
- Cash advance APR: 28.99%, variable, which adjusts with the prime rate
- Penalty APR: 30.24% variable, which adjusts with the prime rate. This applies to your account when:
- You made payments five calendar days late twice
- You made payment 30 calendar days late once
- Your payment is returned
- You exceed your credit limit twice in 12 consecutive months
- Minimum interest charge: $1
Fees
- Annual fee: $0
- Balance transfer fee: $5 or 3% of the amount transferred, whichever is higher
- Convenience check cash advance: $5 or 3% of the amount transferred, whichever is higher
- Cash advance fee: $10 or 4% of the amount of each transaction, whichever is greater
- Foreign transaction fee: 2% of each foreign transaction in U.S. Dollars or 3% of each foreign transaction in a foreign currency
- Overdraft protection fee: $10
- Late payment fee:
- $19 on balances less than $100
- $29 on balances from $100 to $250
- $39 on balances of $250 or more
- Returned payment: $35
- Overlimit: $39
How To Make Payments on the Exchange Bank Visa® Business Cash Preferred Card
- Digital: Log in to your online banking at www.myaccountaccess.com or through the Exchange Bank iOS or Android app
- Auto Pay: Set up an automatic monthly withdrawal from a checking or savings account.
- Phone: Call the automated system at (866) 552-8855 from any touch-tone phone.
Exchange Bank Visa® Business Cash Preferred Card Rewards
- $25 cash back bonus after making your first purchase
- 3% cash back on eligible purchases at eligible gas stations, cell phone service providers, office supply stores, and on dining
- Unlimited 1% cash back on all other eligible purchases
- $100 annual software credit after spending on software subscriptions for 11 consecutive months
You can redeem your cash rewards in the form of a statement credit or as a deposit into an eligible Exchange Bank savings or checking account. You need to redeem a minimum of $25 and in increments of $25 thereafter. You have five years to redeem your cash rewards.
Exchange Bank Visa® Business Cash Preferred Card Additional Features
Protection Coverage
- Fraud: Visa provides fraud protection to prevent fraudulent activities made with your card. The issuer will notify you of any unusual card activity.
- Zero fraud liability: In case your card is lost or stolen, you’re covered with zero fraud liability, which protects you from fraudulent use of your card or account information. You won’t be responsible for any unauthorized purchases.
- Auto rental collision damage waiver insurance: To be eligible for this coverage, you need to charge your entire car rental service to this card. Decline the rental company’s collision damage waiver to receive coverage for damage on the car rental due to collision or theft.
Cash Management
- Online reporting with spend analysis: You can access a free online reporting tool to review your credit card expenses on a monthly, quarterly, annual, or year-to-date basis.
- Free employee cards: You can add employee cards at no additional cost, allowing you to earn more rewards from employee spending. Plus, you can monitor employee expenses through the free online tool.
Pros & Cons of The Exchange Bank Visa® Business Cash Preferred Card
| PROS | CONS |
|---|---|
| No annual fee | Short 0% APR period |
| Sign-up bonus | Limited redemption options |
| Unlimited rewards | Rewards expire after five years |
Exchange Bank Visa® Business Cash Preferred Card Alternatives
U.S. Bank Business Platinum Card
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
16.99% - 25.99% (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 16.99%-25.99%.
- 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
- With a long 0% introductory APR period on purchases and balance transfers
- Does not charge annual fees
- Offers ExtendPay® Plan
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Needs Excellent/Good credit score to qualify
- SinglePoint® Essentials: SinglePoint® Essentials is U.S. Bank’s one-stop tool for viewing account balances and transaction details, transferring funds between existing U.S. Bank accounts, downloading statements, and making payments.
- Fraud protection: U.S. Bank offers fraud protection to ensure the safety and security of all cardholders. To learn more about U.S. Bank’s fraud protection services, you can set up a virtual appointment, call U.S. Bank, or go to the nearest U.S. Bank branch.
- ExtendPay® plan: This allows you to pay off balances over time by dividing eligible credit card purchases into affordable monthly payments with no interest—you only need to pay a fixed monthly fee.
Visa Spend Clarity: Another tool that cardholders can use to track spending and manage finances is Visa Spend Clarity.
Intro APR
Regular APR
16.99% - 25.99% (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 16.99%-25.99%.
- 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
- With a long 0% introductory APR period on purchases and balance transfers
- Does not charge annual fees
- Offers ExtendPay® Plan
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Needs Excellent/Good credit score to qualify
- SinglePoint® Essentials: SinglePoint® Essentials is U.S. Bank’s one-stop tool for viewing account balances and transaction details, transferring funds between existing U.S. Bank accounts, downloading statements, and making payments.
- Fraud protection: U.S. Bank offers fraud protection to ensure the safety and security of all cardholders. To learn more about U.S. Bank’s fraud protection services, you can set up a virtual appointment, call U.S. Bank, or go to the nearest U.S. Bank branch.
- ExtendPay® plan: This allows you to pay off balances over time by dividing eligible credit card purchases into affordable monthly payments with no interest—you only need to pay a fixed monthly fee.
Visa Spend Clarity: Another tool that cardholders can use to track spending and manage finances is Visa Spend Clarity.
- U.S. Bank Business Platinum Card is an excellent alternative for those who need a longer 0% APR period and don’t need to earn rewards on purchases
- Offers a 0% introductory APR for the first 18 billing cycles on both purchases and balance transfers
- Doesn’t charge an annual fee
- Comes with a low ongoing APR
- Is our leading business card with 0% APR and top business card for balance transfers
U.S. Bank Triple Cash Rewards World EliteTM Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
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:
0% APR for 15 billing cycles
Intro APR
Regular APR
18.99% - 27.99% (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.
- 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 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
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
18.99% - 27.99% (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.
- 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 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
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 EliteTM Mastercard® is a great option if you want a long APR period and prefer to earn a sign up bonus and ongoing rewards
- Offers 0% APR for the first 15 billing cycles for both purchases and balance transfers
- Lets you earn $500 cash back after you meet the spending requirement
- Provides up to 3% cash back rewards
- Has no annual fee
- Is our top-recommended fuel business credit card
PNC Cash Rewards® Visa Signature® Business Credit Card
PNC Cash Rewards® Visa Signature® Business 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:
PNC Bank account holders wanting to earn fixed-rate rewards
Intro APR
0% for 9 billing cycles
Regular APR
15.99% to 24.99% variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- Doesn’t charge annual fees
- With sign-up bonus
- Has low ongoing APR on purchases and balance transfers
Cons
- Doesn’t offer 0% introductory APR on balance transfers
- Need to have an active PNC Bank account to qualify for the card
- Cash Flow Insight®: Designed to help you monitor and plan your cash flow, send invoices via email, get paid online, and manage payables digitally.
- Lost luggage reimbursement: You and your immediate family members can be reimbursed up to $3,000 per covered trip if your luggage was lost or stolen when you charge your entire travel fare to this card.
- Travel and emergency assistance services: You can call the toll-free, 24-hour benefit administrator line at (800) 992-6029 to get assistance and referrals while traveling away from home.
- Trip delay reimbursement: Covers up to a maximum of $300 per purchased ticket for reasonable additional expenses incurred when a Covered Trip purchased was delayed for more than 12 hours.
Intro APR
0% for 9 billing cycles
Regular APR
15.99% to 24.99% variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- Doesn’t charge annual fees
- With sign-up bonus
- Has low ongoing APR on purchases and balance transfers
Cons
- Doesn’t offer 0% introductory APR on balance transfers
- Need to have an active PNC Bank account to qualify for the card
- Cash Flow Insight®: Designed to help you monitor and plan your cash flow, send invoices via email, get paid online, and manage payables digitally.
- Lost luggage reimbursement: You and your immediate family members can be reimbursed up to $3,000 per covered trip if your luggage was lost or stolen when you charge your entire travel fare to this card.
- Travel and emergency assistance services: You can call the toll-free, 24-hour benefit administrator line at (800) 992-6029 to get assistance and referrals while traveling away from home.
- Trip delay reimbursement: Covers up to a maximum of $300 per purchased ticket for reasonable additional expenses incurred when a Covered Trip purchased was delayed for more than 12 hours.
- PNC Cash Rewards® Visa Signature® Business Credit Card is a good alternative if you have a deposit account with PNC Bank
- Offers a 0% APR period on purchases for the first nine billing cycles
- Lets you earn fixed-rate 1.5% cash back on all purchases
- Comes with no annual fee
- Has a lower ongoing APR
- Is one of our best cash back business credit cards
Bottom Line
The Exchange Bank Visa® Business Cash Preferred Card is best for business owners who have an existing deposit account with the Exchange Bank. It offers unlimited cash back, which you need to redeem within five years.
