Central Bank offers Visa® Commercial Rewards so you can manage the finances of your business while earning points towards valuable merchandise, travel, rewards, event tickets and more. All the while, you keep your business and personal expenses separate – making it easier to track spending and simplifying tax preparation.
Summary of Credit Terms
| Interest rates and interest charges |
Business |
Business Rewards |
| Annual Percentage Rate (APR) for purchases |
8.24%
This APR will vary with the market, based on the Prime Rate.
|
12.24%
This APR will vary with the market, based on the Prime Rate.
|
| APR for Balance Transfers |
8.24%
This APR will vary with the market, based on the Prime Rate.
|
12.24%
This APR will vary with the market, based on the Prime Rate.
|
| APR for Cash Advances |
19.99%
This APR will vary with the market, based on the Prime Rate.
|
19.99%
This APR will vary with the market, based on the Prime Rate.
|
| Penalty APR and when it applies |
None |
None |
| How to avoid paying interest on purchases |
Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. |
| minimum interest charge |
If you are charged interest, the charge will be no less than $0.50. |
| for credit card tips from the consumer financial protection bureau |
To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore. |
| Fees |
Business |
BUSINESS REWARDS |
| Set up fees and maintenance fees |
|
|
| Annual Fee |
None |
$50 per account, not per card (waived for the first year) |
| Additional card fees |
$20 annually if no activity for 12 consecutive months |
$20 annually if no activity for 12 consecutive months
|
| Card Replacement fee |
$5 |
$5 |
| Card rush fee |
$35 |
$35 |
| Transaction fees |
|
|
| Balance transfer |
None |
None |
| Cash Advance |
Either $5 or 3% of the amount of each cash advance, whichever is great (maximum fee, $50) |
Either $5 or 3% of the amount of each cash advance, whichever is great (maximum fee, $50) |
| Foreign Transaction |
1% of each transaction in U.S. dollars |
1% of each transaction in U.S. dollars |
| Penalty fees |
|
|
| Late Payment |
$$15 |
$15 |
| Returned Payment |
$30 |
$30 |
| Stop Payment Fee |
$30 |
$30 |
How Will We Calculate Your Balance? We use a method called “average daily balance (including new purchases and cash advances).”
For additional information about the costs and terms of the account, please see the Cardmember Agreement which will be sent to you with the card. The Cardmember Agreement and the account will be governed by Iowa and applicable federal law. The Cardmember Agreement, which includes rates and fees, is subject to change.
This information is accurate as of 7/20/2020 and may change. For changes that may have been made, please call us at (866) 341-5195 or write us at Central Bank Bankcard Services, PO Box 10409, Des Moines, IA 50306.
Visa® Commercial Rewards
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