Harborstone Credit Union Business Cash Preferred Card Review for 2022
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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 who have an existing deposit account with Harborstone Credit Union. This small business credit card offers unlimited cash back on business-related purchases. It comes with no annual fee and a low ongoing annual percentage rate (APR).
To see how this card stacks up against others that 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
Intro APR
0% APR for the first six billing cycles on purchases and balance transfers
Regular APR
12.24% 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
12.24% 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
How We Evaluate Cash Back Business Credit Cards
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 | 20 | 30 |
Introductory Rewards | 10 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 15 | 15 |
Introductory APR | 6 | 10 |
Ongoing APR | 9 | 10 |
Total Score | 75 | 100 |
Who Is The Harborstone Credit Union Business Cash Preferred Card?
- Business owners who prefer to earn cash back: The Harborstone Credit Union Business Cash Preferred Card offers unlimited cash back rewards on everyday business purchases.
- Business owners who pay for software subscriptions: This card offers a $100 annual software credit when you pay for a software subscription for 11 consecutive months.
Harborstone Credit Union Business Cash Preferred Card Fees
- Introductory APR: 0% APR on purchases and balance transfers for the first six billing cycles after opening an account
- Ongoing APR: 12.24% to 17.99% variable
- Annual fee: $0
- Balance transfer fee: $5 or 3% of the amount transferred, whichever is higher
- Foreign transaction fee: 2% of each foreign transaction in United States dollars or 3% of each foreign transaction in a foreign currency
- Cash advance fee: $10 or 5% of the amount of each transaction, whichever is greater—APR is 17.99% but varies
How to Make Payments on the Harborstone Credit Union Business Cash Preferred Card
- Online: Log in to your online banking at myaccountaccess.com to make a payment on your credit card.
- Autopay: Set up an automatic monthly withdrawal from a checking or savings account.
- By phone: Call the automated system at (866) 552-8855 from any touch-tone phone to make your payment.
Harborstone Credit Union Business Cash Preferred Card Rewards
- $25 cash back bonus after making your first purchase
- 3% cash back on eligible purchases at electric vehicle charging and gas stations, cellphone 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, as a deposit into another account, or use it for a 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
Online Reporting With Spend Analysis
The Harborstone Credit Union Business Cash Preferred Card provides a free online tool that lets you review your credit card expenses on a monthly, quarterly, annual, or year-to-date basis. You can also view your expenses by total spending, average ticket, or merchant. This tool also allows you to download an account summary of up to 36 months of data.
Extended Warranty
Visa offers an extended warranty coverage that doubles the manufacturer’s warranty on purchases made with your credit card. Check the details of the terms and conditions for exclusions.
Purchase Protection
The items purchased using your Harborstone Credit Union Business Cash Preferred Card are with purchase protection. This coverage protects your items for 90 days against damage or theft. Check the details of the terms and conditions for certain exclusions.
Fraud Protection & Zero Fraud Liability
Visa provides fraud protection to prevent fraudulent activities made with your card. The card issuer will notify you of any unusual card activity. You’re also covered with zero fraud liability in case your card is lost or stolen. You won’t be responsible for any unauthorized purchases.
Auto Rental Collision Damage Waiver Insurance
You’re covered with auto rental collision damage waiver insurance when you charge your entire car rental service on your Harborstone Credit Union Business Cash Preferred Card. You must decline the rental company’s collision damage waiver option to receive coverage on a 24-hour basis for damage to the car rental due to collision or theft.
Travel & Emergency Assistance
You can call the 24-hour Visa Assistance Center at (800) VISA-911 for assistance or information in case of an emergency. This hotline can help you report a lost or stolen card, emergency card replacement, medical and legal referrals, and transportation assistance.
Pros & Cons Harborstone Credit Union Business Cash Preferred Card
| PROS | CONS |
|---|---|
| Sign-up bonus: The Harborstone Credit Union Business Cash Preferred Card offers a $25 sign-up bonus after you make your first purchase. | Short 0% APR period: This small business credit card offers a 0% introductory APR on purchases and balance transfers for the first six billing cycles only. |
| No annual fee: You don’t have to pay an annual fee, which reduces your overall credit cost. | Rewards expire eventually: You need to redeem your cash back rewards within five years, or else they will expire. |
| Unlimited rewards: You can earn cash back on your business-related purchases without caps or limits on how much you can earn. | |
Harborstone Credit Union Business Cash Preferred Card Alternatives
U.S. Bank Triple Cash Rewards World Elite Mastercard®
The U.S. Bank Triple Cash Rewards World Elite Mastercard® is an excellent alternative if you want a long APR period on both purchases and balance transfers. It offers a 0% APR for the first 15 billing cycles for both purchases and balance transfers. You can also earn a signup bonus of $500 cash back after you meet the spending requirement.
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
14.74% - 23.74% (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 EV 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 purchase and balance transfers for 15 billing cycles. After that, a variable APR currently 14.24% to 23.24%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus 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
- 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 1 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
14.74% - 23.74% (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 EV 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 purchase and balance transfers for 15 billing cycles. After that, a variable APR currently 14.24% to 23.24%.
- No annual fee
- Pay over time by splitting eligible purchases of $100-plus 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
- 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 1 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.
Discover it® Cash Back
The Discover it® Cash Back card is a personal credit card that offers cash back rewards. This credit card has no annual fee and comes with a lower APR ranging from 12.24% to 23.24%. It offers 0% APR on both purchases and balance transfers for the first 15 months after opening an account
Discover it® Cash Back
BEST FOR:
Double cash back on the first year’s purchases
Intro APR
0%
Regular APR
12.24% - 23.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon, and more, up to the quarterly maximum, each time you activate.
- Plus, earn unlimited 1% cash back on all other purchases—automatically.
- We'll match all the cash back you've earned at the end of your first year automatically. There's no signing up and no limit to how much we'll match.
Pros
- Excellent rewards rate on rotating bonus categories
- Double the highest rate for the first 12 months
- 0% APR period that’s longer than most cards
Cons
- Cardholders must enroll each quarter
- Bonus rewards are capped at $1,500 each quarter
- No purchase protection or extended warranty protection
- Account lock: Freeze your account in seconds to prevent new purchases with an on/off switch available on both the mobile app and website.
- Late fee waiver: You won’t pay a late fee the first time your payment is late. Late fees are up to $39 thereafter.
Intro APR
0%
Regular APR
12.24% - 23.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon, and more, up to the quarterly maximum, each time you activate.
- Plus, earn unlimited 1% cash back on all other purchases—automatically.
- We'll match all the cash back you've earned at the end of your first year automatically. There's no signing up and no limit to how much we'll match.
Pros
- Excellent rewards rate on rotating bonus categories
- Double the highest rate for the first 12 months
- 0% APR period that’s longer than most cards
Cons
- Cardholders must enroll each quarter
- Bonus rewards are capped at $1,500 each quarter
- No purchase protection or extended warranty protection
- Account lock: Freeze your account in seconds to prevent new purchases with an on/off switch available on both the mobile app and website.
- Late fee waiver: You won’t pay a late fee the first time your payment is late. Late fees are up to $39 thereafter.
American Express Blue Business CashTM
The American Express Blue Business CashTM card is a great option if you need a longer APR period on purchases and a sign-up bonus. It offers 0% introductory APR for 12 months on all purchases and a $250 statement credit after spending $3,000 within the first three months after opening an account.
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.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% 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 American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, 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
13.99% - 21.99% 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 American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, 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.
For other credit card alternatives, check out 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 and prefer to earn unlimited cash back. Keep in mind that you should redeem your rewards within five years. If this card isn’t what you’re looking for, visit our Credit Card Marketplace to find other options.
