|
Biz Miles (1/25/01)
FULL STORY:
The competition in the business card market is heating up as more and more
issuers add air mileage enhancements to the cards. Advanta has launched a major
solicitation this month for its new Bonus Miles MasterCard BusinessCard. The
new card offer follows the introduction, in November, of Capital One's VISA
MilesOne Business Platinum Card and National City's Business FirstAir VISA.
Under the Advanta program, cardholders earn one point for each dollar in
purchases charged, which may be redeemed for a $100 discount reward for each
10,000 points earned. Cardholders may also earn a free domestic ticket on any
airline, without regard to blackout periods, for 25,000 points. Capital One's
program offering free travel for as little as 18,000 miles, depending on zone,
while National City's program offers free domestic travel for as low as 20,000
points. Advanta is charging a $40 annual fee for the program with APRs ranging
from Libor +3.37% to Libor +18.37%, depending on credit worthiness. Capital One
offers three versions of its program including two Platinum versions which
carry no-annual-fee, and a classic version which carries a $29 annual fee. Cap
One's APRs on its MilesOne business cards range from Libor +5.28% to Libor
+13.18%, according to CardWatch. Cap One limits business cardholders to 10,000
miles per month while Advanta has no point limit. Under Advanta's program
points expire after three years while Cap One's points expire after five years.
National City's business miles program requires a $60 annual fee for the first
card and $35 per year for each additional card. The National City FirstAir VISA
offers a six month prime -1% intro rate followed by a on-going APR of prime
+3.9%. To learn more about these business card products visit
http://www.capitalone.com;
http://www.national-city.com; and
http://www.advanta.com.
|
|