The new promotion from the Discover Business Card has some nice features… First, you can earn a $100 Cashback Bonus when you make $1000 in purchases within 3 months after your account is opened. You can get 5% back on office supplies, 2% on gas, up to 1% on all other purchases.
On top of that, it has 0% APR for 12 months for both purchases and balance transfers for 12 months. Since the purchases are also at 0%, there is no hurry to pay that initial $1,000 off. For balance transfers, there is 3% fee for each balance transfer, with a minimum of $5 and a maximum of $75. This is not bad in the current credit card environment. Even if you do not have a higher interest balance to transfer here, this might be worth making some free money off of, especially since the $100 incentive basically negates the balance transfer fee and then some.
Another interesting feature is the advertised “Fee-free Purchasechecks that earn Cashback Bonus®. to pay merchants who don’t accept credit cards”. I was excited by the prospect of earning rewards by simply writing a check, but then I saw this in the fine print: “APR for PurchaseCheck Purchases: 13.99%”. Ouch.
As with all these business cards, individuals can apply as sole proprietors by simply using their name as the business name. You just need to put your Social Security number as requested, and leave the Federal Tax ID blank for this application (it will use your SSN). More $100 bonuses listed here.