Harborstone Credit Union Business Cash Preferred Card, issued by Elan Financial Services, is designed for Harborstone Credit Union members with an existing business checking account. This small business credit card offers unlimited cash back on business-related purchases, charges a $0 annual fee, and has a low ongoing annual percentage rate (APR). Note that Harborstone Credit Union is part of the Co-op Shared Branch network, enabling members to transact at another credit union as if they were at a Harborstone Credit Union branch.
Harborstone Credit Union Business Cash Preferred Card
BEST FOR:
Members of Harborstone Credit Union wanting to earn cash back rewards
- $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
- With 0% introductory APR on purchases and balance transfers
- Offers rewards for both new and existing cardholders
- Does not charge annual fees
Cons
- Short 0% introductory APR period
- Rewards do expire
- Can only be secured by members of Harborstone Credit Union
- Free employee cards: You can control the spending limits or the types of purchases allowed for each employee card.
- 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.
- 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: 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.
- $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
- With 0% introductory APR on purchases and balance transfers
- Offers rewards for both new and existing cardholders
- Does not charge annual fees
Cons
- Short 0% introductory APR period
- Rewards do expire
- Can only be secured by members of Harborstone Credit Union
- Free employee cards: You can control the spending limits or the types of purchases allowed for each employee card.
- 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.
- 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: 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.
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 | 7 | 10 |
Total Score | 77 | 100 |
Who Harborstone Credit Union Business Cash Preferred Card Is Best For
- Those who pay for software subscriptions: You can get a $100 annual credit when you pay for a software subscription for 11 consecutive months.
- Members of Harborstone Credit Union with an existing business checking account wanting cash back rewards: If you have an existing Harborstone Credit Union business checking account and want to earn rewards from business expenses, then this card allows you to manage all of your transactions within one financial institution and let you earn premium cash back rewards on certain categories.
- Businesses in Washington: If your business is within Washington, transacting in person will be easy as most of the credit union’s branches are located there.
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 dining, including takeout and food delivery service purchases
- Unlimited 1% cash back on all other eligible purchases
- $100 annual software credit after spending on subscriptions for 11 consecutive months
Harborstone Credit Union Business Cash Preferred Card Calculator
You can use our calculator to compute the potential rewards you might earn from using the Harborstone Credit Union Business Cash Preferred Card. Input your projected monthly spending per category, and let the calculator do the rest.
Note that purchases at gas stations that exceed $200 will earn only 1% cash back.
How To Redeem Harborstone Credit Union Business Cash Preferred Card Rewards
You can redeem your cash rewards as a:
- Deposit to a checking or savings account within Harborstone Credit Union
- Statement credit to your credit card account
- Rewards Card (with a $25 minimum redemption)
For the first two options, the rewards will be credited to you within one to two billing cycles. Also, note that not all transactions are eligible to earn rewards, such as advances, balance transfers, and convenience checks, and that rewards expire five years from the end of the quarter when they are earned.
Harborstone Credit Union Business Cash Preferred Card Additional Features
Cash management
- Online reporting: Access its free online tool that lets you review your credit card expenses on a monthly, quarterly, annual, or year-to-date basis.
- Free employee cards: Control the spending limits or the types of purchases allowed for each employee card.
Protection coverage
- Purchase security/extended protection
- Purchase security: Receive a maximum coverage of $10,000 per claim if the item purchased with your card gets stolen/damaged/lost.
- Extended protection: Extend the period of the manufacturer’s written US warranty by up to one year for warranties of three years or less. A maximum coverage of $10,000 per claim is available.
- Zero fraud liability: Secure coverage if your card is lost or stolen. You will not be responsible for any unauthorized purchases.
- Auto rental collision damage waiver: Receive coverage after charging your car rental service to this card. Note that you must decline the rental company’s collision damage waiver to receive coverage on a 24-hour basis for damage to the rental due to collision or theft.
- Road dispatch®: Call (800) 847-2869 to get access to Visa’s Road Dispatch®, a pay-per-use roadside assistance program. This program provides standard towing, tire changing, jump-starting, lockout service, fuel delivery, and standard winching.
Other benefits
- Travel and emergency assistance: Call the 24-hour Visa Assistance Center at (800) 992-6029 for assistance or information in case of an emergency. This includes a lost or stolen card, emergency card replacement, medical and legal referrals, and transportation assistance.
- Visa SavingsEdge: Enjoy special discounts through Visa SavingsEdge. There are no coupons needed, and discounts appear as automatic statement credits.
Harborstone Credit Union Business Cash Preferred Card Fees
APR
- Introductory: 0% APR on purchases for the first six months after opening an account; for balance transfers, the same introductory APR will apply if you make a transfer within 186 days of account opening
- Ongoing and balance transfers: 19.24% to 28.24% variable, which adjusts with the prime rate (with a minimum finance charge of no less than $1)
- Cash advance: 29.99% variable, which adjusts with the prime rate
- Penalty and when it applies: 32.49% variable, may be applied to your account if you:
- Make payments five calendar days late twice
- Make a payment 30 calendar days late once
- Exceed your credit limit twice in 12 consecutive months
- Make a payment that’s returned
Fees
- Annual: $0
- Balance transfer and convenience check cash advance: Either $5 or 3% of the amount of each transfer or advance, whichever is greater
- Cash advance, cash advance ATM, and cash equivalent advance: Either $10 or 4% of the amount of each transfer, whichever is greater
- Overdraft protection: $10
- Foreign transaction:
- 2% of each transaction in United States dollars (USD)
- 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
Your due date is within 24 to 30 days after the close of each billing cycle.
- Online: Log in to your online banking at harborstone.com/home/home to make your payment. Alternatively, you can manage your credit card payments online at myaccountaccess.com.
- In-person: Visit the nearest Harborstone branch or Co-op Shared Branch.
Harborstone Credit Union Business Cash Preferred Card Alternatives
American Express Blue Business CashTM
The American Express Blue Business Cash™ Card
BEST FOR:
Those who want better cash back rewards
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- 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.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome bonus
- Fixed rate rewards
- $0 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.
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- 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.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome bonus
- Fixed rate rewards
- $0 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.
Who Should Consider the American Express Blue Business CashTM
- You plan to spend beyond your credit limit: It offers expanded buying power—which provides a flexible credit limit after meeting certain conditions.
Other Benefits
- $250 statement credit after spending $3,000 within the first three months from the date of account opening
- 2% cash back on the first $50,000 in eligible purchases; 1% cash back after the cap is met
- $0 annual fee
- 0% introductory period on purchases for the first 12 billing cycles
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- 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 19.24% - 28.24%.
- 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
- $0 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.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- 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 19.24% - 28.24%.
- 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
- $0 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.
Who Should Consider the U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
- You intend to make large purchases and/or finance a significant transfer: It offers a 0% introductory period on purchases and balance transfers for the first 15 billing cycles.
Other Benefits
- $500 in cash back after spending $4,500 in eligible net purchases within the first 150 days from the date of account opening
- Up to 5% cash back in selected spending categories
- U.S. Bank’s ExtendPay plan lets you divide eligible purchases into manageable monthly payments without interest
- $0 annual fee
Capital One® Spark® Classic for Business
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit to qualify
- Doesn’t charge annual and balance transfer fees
Cons
- Charges high ongoing APR
- Has no 0% introductory APR
- No welcome offer
- Automatic payments: Setting up AutoPay in the Capital One mobile app will save you from having to worry about signing in to your account every month
- $0 fraud liability: If your card is either lost or stolen, you can get an emergency replacement and cash advance.
- Purchase records: You can download all purchase records quickly and securely in multiple formats, including Quicken®, QuickBooks®, and Excel®.
- Extended warranty: Get free additional warranty and protection on eligible items purchased with your business credit card.
- Free employee cards: You can create multiple employee cards, track employee spending, and customize spending limits while earning all the rewards from their purchases.
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit to qualify
- Doesn’t charge annual and balance transfer fees
Cons
- Charges high ongoing APR
- Has no 0% introductory APR
- No welcome offer
- Automatic payments: Setting up AutoPay in the Capital One mobile app will save you from having to worry about signing in to your account every month
- $0 fraud liability: If your card is either lost or stolen, you can get an emergency replacement and cash advance.
- Purchase records: You can download all purchase records quickly and securely in multiple formats, including Quicken®, QuickBooks®, and Excel®.
- Extended warranty: Get free additional warranty and protection on eligible items purchased with your business credit card.
- Free employee cards: You can create multiple employee cards, track employee spending, and customize spending limits while earning all the rewards from their purchases.
Who Should Consider the Capital One® Spark® Classic for Business
- You have fair credit standing and wish to rebuild your credit: You only need fair credit standing to qualify for the card, which can help you earn rewards and build your credit history.
Other Benefits
- Up to 5% cash back on selected spending categories
- $0 annual fees
- Choose your preferred monthly due date
Frequently Asked Questions (FAQs)
To be eligible for membership, you need a valid Washington State business license and a physical address for you and your business. You also need to secure the following documents, depending on your business type.
Business Type | Required Documents |
---|---|
Sole Proprietors |
|
Corporation or Nonprofit Corporation |
|
LLCs or Professional LLCs (PLLCs) |
|
General Partnerships |
|
Club, Organization, or Unincorporated Association |
|
Go to the nearest Harborstone Credit Union branch to request a credit limit increase for your card.
Bottom Line
Harborstone Credit Union Business Cash Preferred Card is a good option if you have an account with 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.