Harborstone Credit Union 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 Harborstone Credit Union Business Cash Preferred Card is designed for business owners with an existing deposit account with Harborstone Credit Union. This small business credit card offers unlimited cash back on business-related purchases and comes with no annual fee and a low ongoing annual percentage rate (APR).
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.
Harborstone Credit Union 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 prefer to earn cash back
Intro APR
0% APR for the first six billing cycles on purchases and balance transfers
Regular APR
14.99% to 17.99% 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 have expiry
- 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
14.99% to 17.99% 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 have expiry
- 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 Harborstone Credit Union Business Cash Preferred Card, we first consider the ongoing and introductory rewards. We also take into account the annual fee, introductory and ongoing APRs, and other card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 25 | 30 |
Introductory Rewards | 10 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 15 | 15 |
Introductory APR | 5 | 10 |
Ongoing APR | 9 | 10 |
Total Score | 79 | 100 |
Who Is Harborstone Credit Union Business Cash Preferred Card 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 can get a $100 annual credit when you pay for a software subscription for 11 consecutive months.
Check out our recommended alternatives below if this card isn’t the best fit for your small business.
Harborstone Credit Union Business Cash Preferred Card Fees
APR
- Introductory APR: 0% APR on purchases and balance transfers for the first six months after opening an account
- Regular APR on purchases and balance transfers: 14.99% to 17.99% variable, which adjusts with the prime rate
- Cash advance APR: 14.99% to 17.99% variable, which adjusts with the prime rate
- Penalty APR and when it applies: 17.99%, may be applied to your account if you:
- Make payments five calendar days late twice
- Make payment 30 calendar days late once
- Exceed your credit limit twice in 12 consecutive months
- Make a payment that’s returned
- Minimum interest charge: No less than $1
Fees
- Annual: $0
- Balance transfer: Either $5 or 3% of the amount of each transfer, whichever is greater
- Convenience check cash advance: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash advance: Either $10 or 4% of the amount of each transfer, whichever is greater
- Overdraft protection: Either $10 or 4% of the amount of each transfer, whichever is greater
- Foreign transaction: 2% of each transaction in United States dollars or 3% of each transaction in a foreign currency
- 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
How To Make Payments on the Harborstone Credit Union Business Cash Preferred Card
- Online: Log in to your online banking at myaccountaccess.com.
- Autopay: 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.
Harborstone Credit Union Business Cash Preferred Card Rewards
- $25 cash back bonus after making your first purchase
- 3% cash back on eligible purchases at gas stations, cellphone service providers, office supply stores, and restaurants
- 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 via a statement credit, deposit into eligible savings or checking account with Harborstone Credit Union, or rewards card. You need to redeem a minimum of $25 and in increments of $25 thereafter. You have five years to redeem your cash rewards.
Harborstone Credit Union Business Cash Preferred Card Additional Features
Cash Management
- Online reporting: The card comes with a free online tool that lets you review your credit card expenses on a monthly, quarterly, annual, or year-to-date basis.
- Spend analysis tool: This allows you to view your expenses by total spending, average ticket, or merchant and download an account summary of up to 36 months of data.
- Free employee cards: You can control the spending limits or the types of purchases allowed for each employee card.
Protection Coverage
- Extended warranty: Visa offers an extended warranty coverage that doubles the manufacturer’s warranty on eligible purchases made with your credit card.
- Purchase protection: The items purchased using this card come with purchase protection. This coverage protects your items for 90 days against damage or theft.
- Fraud protection: Visa provides fraud protection to prevent fraudulent activities made with your card. The card issuer will notify you of any unusual card activity.
- Zero fraud liability: You’re also covered with zero fraud liability in case your card is lost or stolen. You will not be responsible for any unauthorized purchases.
- Auto rental collision damage waiver insurance: To qualify, you need to charge your entire car rental service to this card. You must decline the rental company’s collision damage waiver option to receive coverage on a 24-hour basis for damage to the rental due to collision or theft.
Other Benefits
- Travel and emergency assistance: You can call the 24-hour Visa Assistance Center at (800) VISA-911 for assistance or information in case of an emergency. Call this hotline to report a lost or stolen card, get emergency card replacement, for medical and legal referrals, and for transportation assistance.
- Visa SavingsEdge: You can enjoy special discounts through this program. There are no coupons needed, and discounts appear as automatic statement credits.
Pros & Cons Harborstone Credit Union Business Cash Preferred Card
| PROS | CONS |
|---|---|
| No annual fees | Short 0% APR period |
| Easy sign-up bonus | Rewards expire after five years |
| Unlimited rewards | |
Harborstone Credit Union Business Cash Preferred Card Alternatives
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 an excellent alternative if you need a long APR period and want to earn unlimited rewards
- Has a 0% APR for the first 15 billing cycles for both purchases and balance transfers
- Offers a signup bonus of $500 cash back after you spend $4,500 or more within 150 days after opening an account
- Provides up to 3% cash back on a variety of expense categories
- Is our best fuel business credit card
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
18.24% - 26.24% 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, 18.24% - 26.24%, 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
18.24% - 26.24% 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, 18.24% - 26.24%, 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.
- American Express Blue Business CashTM is a great option if you need to spend over your credit limit
- Features Expanded Buying Power, which allows you to spend over your limit based on your payment history, credit record, financial resources, and other factors
- Offers 0% introductory APR for 12 months on all purchases
- Lets you earn a $250 statement credit after spending $3,000 within the first three months after opening an account
- Offers up to 2% cash back on eligible purchases
- Is our leading cash back business credit card
PNC Cash Rewards® Visa Signature®
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® is a good alternative if you need to carry a balance on a card month after month
- Comes with a low ongoing APR ranging from 13.99% to 22.99%
- Offers of a $400 bonus after spending $3,000 in qualifying purchases within the first three billing cycles
- Charges no annual fee
- Lets you earn 1.5% cash back on all eligible purchases, with no caps or limit
- Is one of our top-recommended credit cards for limited liability companies (LLCs)
If you need more options, read our guide to the best small business credit cards.
Bottom Line
The Harborstone Credit Union Business Cash Preferred Card is a good option if you have an account with the Harborstone Credit Union. It offers a $25 cash back bonus after making your first purchase, 3% cash back on eligible purchases at gas stations, cellphone service providers, office supply stores, and restaurants, and unlimited 1% cash back on all other eligible purchases. Keep in mind that you should redeem your rewards within five years before they expire.
