Interra Credit Union Business Rewards Plus MasterCard® Credit 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.
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.
The Interra Credit Union Business Rewards Plus MasterCard® Credit Card is a small business credit card for members of Interra Credit Union, which has 15 branches spread across Indiana. It offers cash back rewards of 3% on dining and gas and 1% on all other purchases. There’s also a welcome offer of 3% cash back (worth $150) after spending $5,000 or more within the first 90 days and 1,000 bonus points to be credited after card approval.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Interra Credit Union Business Rewards Plus MasterCard® 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:
Interra Credit Union members who want to maximize their business purchases
Intro APR
Regular APR
14.99% to 20.99% variable
Annual Fee
None
Credit Needed
Good to Excellent
- 3% on purchases from gas and restaurants, with an annual cap of $150
- 1% on all other purchases
Pros
- No annual and application fees
- Charges low regular APR for purchases, balance transfers, and cash advances
Cons
- No interest-free financing option for both purchases and balance transfers
- Only available for members of Interra Credit Union
- Interra Credit Union is only located in selected areas in Indiana
- Limited rewards
- Accessible customer service: Interra Credit Union offers a local connection and 24/7 member service to their cardholders.
- Zero fraud liability: This business credit card ensures security to their cardholders from possible fraudulent transactions.
- Travel accident insurance: You can avail insurance in the event that your travels were purchased with the Interra Credit Union Business Rewards Plus MasterCard® Credit Card.
Intro APR
Regular APR
14.99% to 20.99% variable
Annual Fee
None
Credit Needed
Good to Excellent
- 3% on purchases from gas and restaurants, with an annual cap of $150
- 1% on all other purchases
Pros
- No annual and application fees
- Charges low regular APR for purchases, balance transfers, and cash advances
Cons
- No interest-free financing option for both purchases and balance transfers
- Only available for members of Interra Credit Union
- Interra Credit Union is only located in selected areas in Indiana
- Limited rewards
- Accessible customer service: Interra Credit Union offers a local connection and 24/7 member service to their cardholders.
- Zero fraud liability: This business credit card ensures security to their cardholders from possible fraudulent transactions.
- Travel accident insurance: You can avail insurance in the event that your travels were purchased with the Interra Credit Union Business Rewards Plus MasterCard® Credit Card.
When grading fixed-rate cash back business credit cards like the Interra Credit Union Business Rewards Plus MasterCard® Credit Card, we first consider the ongoing rewards and rate the introductory rewards as the second-biggest factor. Also, we consider the annual fees, introductory and ongoing annual percentage rates (APRs), and additional features.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 10 | 20 |
Additional Features | 8 | 15 |
Annual Fee | 15 | 15 |
Introductory APR | 0 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 63 | 100 |
Who the Interra Credit Union Business Rewards Plus MasterCard® Credit Card Is Best For
- Interra Credit Union members who want to maximize their business purchases: Consider this card if you’re interested in earning 3% on purchases made on gas and at restaurants (capped at $150) and unlimited 1% on all other purchases.
See our recommended alternatives below if this card isn’t the best fit for your business.
Interra Credit Union Business Rewards Plus MasterCard® Credit Card Fees
APR
- Introductory: 1.9% on balance transfers for the first 15 months after account opening
- Ongoing, balance transfers, and cash advances: 14.99%, 18.99%, or 20.99% variable, which will adjust with the prime rate
Fees
- Minimum interest charge, annual fees, and application fees: None
- Cash advance and ATM transaction: Either $10 or 2% of the amount of the advance, whichever is greater, with a maximum fee of $500
- Foreign transaction: Up to 1% of each transaction in US dollars
- Replacement/additional: $7
- Card check/draft copy: $3
- Statement copy: $1
- Rush card: $30
- Card Center phone payment, additional report, and returned payments: $5
- More than five cards per account: $5 for each card
- Late payment: $25
Your due date is at least 25 days after the close of each billing cycle.
Interra Credit Union Business Rewards Plus MasterCard® Credit Card Rewards
- 3% cash back (worth $150) after spending $5,000 or more within the first 90 days and 1,000 bonus points to be credited after card approval
- 3% on purchases from gas and restaurants, with an annual cap of $150
- Unlimited 1% on all other purchases
You can manage all earned rewards from your Interra Credit Union Business Rewards Plus MasterCard® Credit Card through CURewards. You can redeem earned points for cash back, merchandise, travel, and gift cards from popular retailers. Note that points will expire four years from the date they’re earned.
How To Make Payments on the Interra Credit Union Business Rewards Plus MasterCard® Credit Card
- Online: Log in to Interra’s online banking and click “bill pay.”
- Automatic payments: You can set up automatic payments from your checking account, making managing your credit card payments easier.
- Phone: Call the number found on the back of your card. Note that there’s a $5 fee whenever you make credit card payments via phone.
- Nearest branch: Go to the Interra Credit Union location nearest to you.
- Mail: You can send your credit card payment to the following address:
PO Box 71050
Charlotte, NC 28272-1050
Interra Credit Union Business Rewards Plus MasterCard® Credit Card Features
- Accessible customer service: Interra Credit Union offers a local connection and 24/7 member service to their cardholders.
- Employee cards: Primary cardholders can manage to spend and put individual limits on their employees’ cards.
- Zero fraud liability: This business credit card ensures security from fraudulent transactions.
- Travel accident insurance: You can benefit from insurance if your travels are purchased with the Interra Credit Union Business Rewards Plus MasterCard® Credit Card.
Interra Credit Union Business Rewards Plus MasterCard® Credit Card Alternatives
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.
- Is a suitable option for those who want a straightforward cash back rewards system and may exceed their credit limit
- Lets you earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% after that
- Offers expanded buying power, allowing you to spend over your credit limit. Note that the amount you can spend depends on your card usage, payment history, credit score, and financial resources
- Has a 0% introductory APR on purchases for the first 12 months
- Is in our roundups of the:
Chase Ink Business Unlimited®
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
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 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.
- Round-the-clock monitoring for unusual credit card purchases
- 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
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Intro APR
0% Intro APR on Purchases
Regular APR
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 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.
- Round-the-clock monitoring for unusual credit card purchases
- 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
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
- Is best suited if you want a fixed-rate rewards card from a bank with a presence in over 48 states
- Lets you earn unlimited 1.5% cash back on all business-related purchases
- Offers 0% APR on purchases for the first 12 billing cycles
- Does not charge annual fees
- Is on our lists of the:
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.
- Is ideal for those looking for a long 0% introductory APR, as it offers 0% APR on both purchases and balance transfers for the first 18 months
- Does not charge annual fees
- Lacks rewards for new and existing cardholders
- Is one of our:
Frequently Asked Questions (FAQs)
To apply for an Interra Credit Union membership, you must:
- Live or work in Elkhart, Allen, DeKalb, Fulton, Huntington, Kosciusko, LaGrange, LaPorte, Marshall, Miami, Noble, Pulaski, St. Joseph, Starke, Steuben, Wabash, Wells or Whitley counties;
- Have an immediate family member who is already an Interra member, or;
- Work for a business that offers Interra membership as a benefit
Contact Interra Credit Union for more ways to qualify for membership.
Yes, Interra Credit Union requires a personal guarantee for your Interra Credit Union Business Rewards Plus MasterCard® Credit Card and other business lending products.
Yes, you can request a credit limit increase with your Interra Credit Union Business Rewards Plus MasterCard® Credit Card by visiting an Interra Credit Union branch.
Bottom Line
Consider the Interra Credit Union Business Rewards Plus MasterCard® Credit Card if you’re already a member of the Interra Credit Union. It offers 3% on purchases made in gas stations and restaurants, with a cap of $150, and 1% on all other purchases. What makes it unique is you can redeem earned rewards through cash back, merchandise, travel, and gift cards offered by CURewards’ popular retailers.
It should be noted that this card doesn’t have any interest-free financing options for purchases and balance transfers and charges $5 if you need more than five cards per account
