M&T Business Rewards Credit Card Review for 2022
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 M&T Business Rewards Credit Card is best for business owners who want to earn unlimited fixed-rate cash back on all purchases regardless of spending categories. You can earn an unlimited 2% cash back your first year and 1.5% cash back after that. This small business card doesn’t charge annual fees and foreign transaction fees.
M&T Business Rewards 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:
Fixed-rate cash back rewards on all purchases
Intro APR
0%
Regular APR
12.24% - 19.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Unlimited 1.5% cash back on every purchase
- 0% introductory APR on balance transfers and purchases for 12 billing cycles (a balance transfer fee will apply)
- Variable APR of 14.49% to 21.49% thereafter
- No annual fee
- Add employee cards at no additional cost, plus ability to manage spend limits for users
- Global acceptance with chip technology
- M&T Assurance® for fraud prevention, detection, and resolution
- Multiple convenient ways to make payments, transfer funds, or review account detail, such as online with M&T Online Banking for Business or via the M&T Mobile App, at an M&T Bank ATM, or in person at any local M&T branch.
- Pay for purchases conveniently with Apple Pay®, Google Pay™, and Samsung Pay at millions of stores around the world by adding your card to a supported iPhone®, Android®, or an eligible Samsung device
- Save with no foreign transaction fee
Pros
- 0% introductory APR
- Introductory rewards
- No annual fee
Cons
- No sign-up bonus
- Low ongoing rewards
- Extended warranty protection: Visa will double the original manufacturer’s warranty up to an additional year on warranties of three years or less up to a maximum of $10,000 per claim.
- Purchase security: Visa may repair, replace, or offer reimbursement for items purchased with your M&T Business Rewards Credit Card that are damaged or stolen within 90 days of purchase. Purchase security is limited to $10,000 per claim.
Intro APR
0%
Regular APR
12.24% - 19.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Unlimited 1.5% cash back on every purchase
- 0% introductory APR on balance transfers and purchases for 12 billing cycles (a balance transfer fee will apply)
- Variable APR of 14.49% to 21.49% thereafter
- No annual fee
- Add employee cards at no additional cost, plus ability to manage spend limits for users
- Global acceptance with chip technology
- M&T Assurance® for fraud prevention, detection, and resolution
- Multiple convenient ways to make payments, transfer funds, or review account detail, such as online with M&T Online Banking for Business or via the M&T Mobile App, at an M&T Bank ATM, or in person at any local M&T branch.
- Pay for purchases conveniently with Apple Pay®, Google Pay™, and Samsung Pay at millions of stores around the world by adding your card to a supported iPhone®, Android®, or an eligible Samsung device
- Save with no foreign transaction fee
Pros
- 0% introductory APR
- Introductory rewards
- No annual fee
Cons
- No sign-up bonus
- Low ongoing rewards
- Extended warranty protection: Visa will double the original manufacturer’s warranty up to an additional year on warranties of three years or less up to a maximum of $10,000 per claim.
- Purchase security: Visa may repair, replace, or offer reimbursement for items purchased with your M&T Business Rewards Credit Card that are damaged or stolen within 90 days of purchase. Purchase security is limited to $10,000 per claim.
You can compare the features of one card to another by checking off this card and up to two more alternatives (see M&T Business Rewards Credit Card Alternatives). This allows you to view the details of each card in a side-by-side comparison.
How We Evaluate Cash Back Business Credit Cards
When grading cash back business credit cards like the M&T Business Rewards Credit Card, we first consider the ongoing rewards and then the introductory rewards. We also rate the annual fee, introductory and ongoing annual percentage rates (APRs), and card benefits.
| Grading Criteria | ||
|---|---|---|
Ongoing Rewards | ||
Introductory Rewards | 5 | |
Annual Fee | ||
Additional Features | ||
Introductory APR | ||
Ongoing APR | ||
Total Score |
Who the M&T Business Rewards Credit Card Is Best For
- Business owners who prefer to earn unlimited, fixed rewards: The M&T Business Rewards Credit Card offers unlimited, fixed-rate cash back of 2% for the first year and 1.5% thereafter. This is applicable to all purchases, so you won’t have to monitor category spending.
M&T Business Rewards Credit Card Fees
- Introductory APR: 0% APR for 12 billing cycles on purchases and balance transfers
- Ongoing APR: 12.24% to 19.24% variable, which will adjust with the prime rate
- Annual fee: None
- Balance transfer fee: Either 4% of the transfer amount or $10, whichever is greater
- Foreign transaction fee: None
- Cash advance fee: Either 3% of the advance or $10, whichever is greater—APR is 22.24%
M&T Business Rewards Credit Card Rewards
- Unlimited 2% cash back on all purchases for the first year after opening an account
- Unlimited 1.5% cash back on all purchases after first year
You can redeem your rewards for cash back, gift cards, airline travel, and merchandise through the M&T Bank rewards portal. One point is worth 1 cent when redeemed for cash, gift cards, or airfare. The redemption value varies when redeemed for merchandise and travel packages. When redeeming for cash, you can receive a statement credit or a deposit into your M&T Bank checking or savings account.
M&T Business Rewards Credit Card Additional Features
M&T Assurance®
When you use your card in person, online, in-app, and over the phone, you’re covered with M&T Assurance to help prevent, detect, and resolve card fraud. It offers real-time fraud monitoring, which screens your account 24/7 to help detect suspicious card activity outside your normal purchasing pattern.
Overdraft Protection
Overdraft protection is an optional service offered by M&T Bank. This allows you to link your credit card to your M&T checking account as overdraft protection in the event you don’t have sufficient funds.
Auto Rental Collision Damage Waiver
Car rentals of 31 consecutive days or less that are paid for with the M&T Business Rewards Credit Card are covered in case of accident or theft. Coverage is primary if the vehicle rental is for commercial or business reasons. This auto rental collision damage waiver coverage excludes injury to anyone or damage to anything inside or outside the rental vehicle, loss or theft of personal belongings, damage due to off-road operation of the rental vehicle, and damage due to wear and tear, gradual deterioration, or mechanical breakdown.
Purchase Security
Visa may repair, replace, or offer reimbursement for items damaged or stolen within 90 days of purchase. Coverage is limited to $10,000 per item. To be covered, you must have purchased the item entirely with your M&T Business Rewards Credit Card. If your item was stolen, you must file a police report within 48 hours of noticing the theft.
Extended Warranty Protection
Visa will double the original manufacturer’s warranty by up to an additional year on warranties of three years or less, up to a maximum of $10,000 per claim. You must have charged a portion of the purchase to your card to be eligible. The coverage begins the day after the original manufacturer’s warranty expires. Items that aren’t covered by extended warranty protection are motorized vehicles, items for resale, computer software, real estate, medical equipment, rented items, and preowned items.
Pros & Cons of M&T Business Rewards Credit Card
| PROS | CONS |
|---|---|
| 0% introductory APR: You can enjoy interest-free financing for 12 months on both purchases and balance transfers. | No sign-up bonus: While this card offers 2% cash back for the first year, it doesn’t offer a sign-up bonus when you meet a certain spending threshold. |
| Introductory rewards: You can earn 2% cash back for the first year after opening an account—the regular ongoing rewards rate is 1.5%. | Low ongoing rewards: The ongoing rewards of 1.5% are below average for a fixed-rate rewards card. |
| No annual fee: You can earn fixed-rate rewards without having to pay annual fees. | |
M&T Business Rewards Credit Card Alternatives
Chase Ink Business Unlimited® Review
The Chase Ink Business Cash® card is a great option for office-based businesses. You can earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year.
Ink Business Cash® 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:
Office-based businesses that want top cash back rewards
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
American Express Blue Business® Plus Credit Card
The American Express Blue Business® Plus is an excellent option if your business can spend at least $50,000 in a year. This small business credit card offers points on the first $50,000 in purchases each year, and one point on all purchases thereafter. This card doesn’t charge an annual fee, and it also comes with a low ongoing APR.
The Blue Business® Plus Credit Card from American Express
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 2x points per $1 and 0% introductory APR for 12 months
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
- You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- *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 at account opening.
- No Annual Fee
- Terms Apply
Pros
- No annual fee
- 0% APR for 12 months on purchases and balance transfer
- Welcome offer bonus points
- Expanded buying power
- Fixed-rate rewards
Cons
- Cash advances aren’t allowed
- Charges foreign transaction fees
- 2x points rewards are capped at $50,000 in spending
- Extended warranty protection: American Express will match the length of the original manufacturer’s warranty if it’s less than 2 years. It provides an additional 2 years if the original manufacturer’s warranty is between 2 and 5 years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
- Purchase protection: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 120 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
- You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- *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 at account opening.
- No Annual Fee
- Terms Apply
Pros
- No annual fee
- 0% APR for 12 months on purchases and balance transfer
- Welcome offer bonus points
- Expanded buying power
- Fixed-rate rewards
Cons
- Cash advances aren’t allowed
- Charges foreign transaction fees
- 2x points rewards are capped at $50,000 in spending
- Extended warranty protection: American Express will match the length of the original manufacturer’s warranty if it’s less than 2 years. It provides an additional 2 years if the original manufacturer’s warranty is between 2 and 5 years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
- Purchase protection: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 120 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
Capital One® Spark® Cash Plus for Business
The Capital One® Spark Cash Plus is a good option if you can pay your balance in full every month. This pay-in-full card offers unlimited 2% cash back rewards on all business-related purchases. This is also an excellent alternative if you need a flexible credit limit that adjusts to your needs based on your spending behavior, payment history, and credit profile.
Capital One® Spark® Cash Plus Card
BEST FOR:
Businesses that want purchasing power and can pay their balances in full every month
Intro APR
None
Regular APR
None. There's no APR because your balance is due in full every month. Otherwise, you'll be charged a 2.99% monthly late fee
Annual Fee
$150
Credit Needed
Excellent
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn up to $1,000 in the first six months; $500 once you spend $5,000 in the first three months, and $500 once you spend $50,000 in the first six months.
- Earn an annual $200 cash bonus every year you spend $200,000 or more.
Pros
- No preset spending limit
- Up to $1,000 cash bonus
- Unlimited 2% cash back on all purchases
- Opportunity to earn annual cash bonus
Cons
- Requires an annual fee
- Need to pay in full every month
- Requires excellent credit
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus cash advance
- Roadside assistance: Emergency services such as jump-starting, tire changing, and towing
Intro APR
None
Regular APR
None. There's no APR because your balance is due in full every month. Otherwise, you'll be charged a 2.99% monthly late fee
Annual Fee
$150
Credit Needed
Excellent
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn up to $1,000 in the first six months; $500 once you spend $5,000 in the first three months, and $500 once you spend $50,000 in the first six months.
- Earn an annual $200 cash bonus every year you spend $200,000 or more.
Pros
- No preset spending limit
- Up to $1,000 cash bonus
- Unlimited 2% cash back on all purchases
- Opportunity to earn annual cash bonus
Cons
- Requires an annual fee
- Need to pay in full every month
- Requires excellent credit
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus cash advance
- Roadside assistance: Emergency services such as jump-starting, tire changing, and towing
You can also check out our guide to the best small business credit cards to find other options.
Bottom Line
The M&T Business Rewards Credit Card is a cash back card that offers fixed-rate, unlimited cash back on every purchase with no annual fee. This is ideal for business owners who don’t want to monitor bonus category expenses. Visit our Credit Card Marketplace to compare other business credit cards if this card isn’t what you’re seeking.
