The CitiBusiness® Platinum Select® Card is a mastercard that is issued by Citibank and is designed for use by small businesses. This is a platinum credit card that offers a range of benefits designed to meet the needs of a small business. There is no annual fee or application fee for this business credit card, and the card offers a grace period of twenty days. Business owners can also get additional cards with set limits for designated employees at no additional cost.
In addition to no annual fee, this business credit card offers a 0% introductory interest rate for twelve months, and this applies to new purchases as well as balance transfers. Once the twelve month introductory period is over, new purchases are charged at an interest rate of 9.49 percent variable, and cash advances are charged at a variable interest rate of 20.49 percent.
There are various charges with this credit card, including late repayment fees of $39. Over the limit fees are currently charged at $35, and there are also fees charged on cash advances and balance transfers. Balance transfers are charged at three percent or five dollars minimum, with a $75 maximum charge. Cash advances are charged at three percent or five dollars.
The CitiBusiness® Platinum Select® Card also offers a range of additional cardholder benefits designed for businesses, including: free travel insurance, free car rental insurance, online guarantee, fraud early warning block, and a lost wallet service. Businesses can also enjoy quarterly and annual account summaries as well as discounts on a variety of business based purchases.
