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M&T Business Rewards Credit Card Review

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By Benilyn Formoso - Suralta on September 28, 2020

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.

M&T Business Rewards Credit Card

Apply Now

On M&T Bank's Secure Website

Rating 3.5 3.5
?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% APR for 12 billing cycles on balance transfers and purchases Regular APR Annual Fee Credit Needed
0% 12.24% - 19.24% Variable $0 Good - Excellent
  • Unlimited 1.5% cash back on every purchase ​
  • Earn 10,000 bonus points after making $500 in purchases during first 90 days
  • 0% introd​​​uctory APR on balance transfers and purchases for 12 billing cycles​ (a balance transfer fee will apply)
  • Variable APR of 14.49%–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 fra​ud prevention, detection and resolution​
  • Multiple convenient ways to make payments, transfer funds, or review account detail (1. Online with M&T Online Banking for Business or via the M&T Mobile App, 2. At an M&T Bank ATM, 3. 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
  • A lengthy 0% APR on purchases and balance transfers
  • Introductory cash bonus offer
  • No annual fee
Cons
  • Ongoing rewards are below average for a fixed-rate rewards card
  • Small Introductory bonus
  • Availability limited to eight states: Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, and West Virginia
  • 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.

The M&T Business Rewards Credit Card is an excellent cash back card designed for business owners who prefer to earn fixed-rate rewards on all purchases and typically spend 18,000 or less per year. This small business credit card pays unlimited 1.5% cash back on every purchase with no annual fee.

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 1.5% on all purchases. This is ideal for business owners who do not want to monitor category spending.
  • Business owners who spend no more than $18,000 annually: This is the threshold at which it makes more sense to choose a card that charges an annual fee but pays 2% cash back.

How We Evaluate Cash Back Business Credit Cards

When grading cash back business credit cards like the M&T Business Rewards Credit Card, we weigh ongoing rewards heaviest. We rate introductory rewards as slightly less important, but they still are the second biggest factor in grading a card. We also take into consideration the annual fee, introductory and ongoing annual percentage rates (APRs), and card benefits.

Grading Criteria
Card Score
Highest Possible Score
Ongoing Rewards
20
30
Introductory Rewards
10
20
Annual Fee
15
15
Additional Features
10
15
Introductory APR
10
10
Ongoing APR
10
10
Total Score
75
100

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

M&T Business Rewards Credit Card Rewards

  • Unlimited 1.5% cash back on all purchases

Welcome offer: Earn 10,000 bonus points after making $500 in purchases during the first 90 days from account opening

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 Features

Auto Rental Collision Damage Waiver

Car rentals of 31 consecutive days or less that are paid for by 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 purchases 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 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 are not covered by extended warranty protection are motorized vehicles, items for resale, computer software, real estate, medical equipment, rented items, and preowned items.

M&T Business Rewards Credit Card Alternatives

Chase Ink Business Unlimited® Review

Ink Business Cash® Credit Card

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On Chase's Secure Website

Fit Small Business Review
Rating 5 5
?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% APR for 12 months on purchases Regular APR Annual Fee Credit Needed
0% Intro APR on Purchases 13.24% - 19.24% Variable $0
  • 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 card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee
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 U.S. 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 U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.

American Express Blue Business® Plus Credit Card

The Blue Business® Plus Credit Card from American Express

Apply Now

on The Blue Business® Plus Credit Card from American Express's secure website.

See Rates and Fees

Fit Small Business Review
Rating 4.5 4.5
?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% introductory APR for 12 months on purchases Regular APR Annual Fee Credit Needed
0% on purchases 13.24% - 19.24% Variable No annual fee Good, Excellent
  • 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.
  • Enjoy the flexibility to put more purchases on the Card and earn rewards when you buy above your credit limit*.
  • You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
  • More buying power for your business means more opportunities to earn points. That’s everyday business with the Blue Business Plus Card.
  • *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, 13.24% - 19.24%, based on your creditworthiness and other factors at account opening.
  • No Annual Fee
  • Terms Apply
Pros
  • 0% APR for 12 months on purchases and balance transfer
  • Earn 2x points on all spending
Cons
  • No lucrative welcome offer
  • 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 two years. It provides an additional two years if the original manufacturer’s warranty is between two and five 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 for Business

Capital One® Spark® Cash for Business

Apply Now

on Capital One® Spark® Cash for Business's secure website.

Fit Small Business Review
Rating 4 4
?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: Earning unlimited 2% cash back

Intro APR Regular APR Annual Fee Credit Needed
N/A 20.99% (Variable) $0 intro for first year; $95 after that Excellent, Good
  • Introductory reward worth $500 after you spend $4,500 within the first three months
  • 2% cash back on every purchase
  • Issue employee cards for free
Pros
  • No limit to the amount of rewards you can earn
  • Lucrative welcome offer
Cons
  • Lacks a 0% APR offer
  • Annual fee is only waived for 12 months
  • 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 U.S. and abroad.
  • Purchase protection: Covers your new purchases for up to 90 days against damage or theft up to $10,000 per claim.

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 do not want to monitor bonus category expenses. If this is not the card that you are looking for, compare other business credit cards to find other options.

About the Author

Benilyn Formoso - Suralta

Benilyn Formoso-Suralta is a staff writer at Fit Small Business focusing on finance, accounting, and Small Business Loans. She brings with her 12 years of experience as a banking officer with the Bank of the Philippine Islands with expertise in consumer banking, real estate sales, and foreign exchanges.

@benilynformoso