Flagstar is a full-service bank with branches across Michigan. The only reason I’m familiar with Flagstar is because I lived in Michigan for a while and encountered its branches in my daily travels. Bear in mind that you need at least 25,000 points to redeem for airfare. Credit Card Funding: None; Early Termination Fee: None listed, check with CSR for more information; For more current offers, check out our bank bonuses page. Returned payments cost up to $35. Points can be redeemed for statement credits against your credit card balance, cash back deposits into a checking or savings accounts (including Flagstar and third-party banks), gift cards at dozens of participating restaurants and retailers, general merchandise, travel, and more. If you’ve never heard of Flagstar Bank, you’re not alone. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. I’ve reviewed a lot of bank-backed cash back, small business, and travel rewards credit cards. However, when you redeem 25,000 points through Flagstar’s travel portal, you can claim round trip airfare worth up to $325, for a redemption rate of approximately $0.014 per point. There’s no limit to the number of bonus points you can earn. Regardless of how you redeem, using your points wisely can be a great way to save money on a tight budget. See why 218,388 people subscribe to our newsletter. Deciding where to live involves a lot of considerations, and the choice you make can dramatically impact your quality of life. 13 Places to Buy Cheap Discount Sports Tickets Online & Off, Top 10 Green Energy Technologies & Solutions for Home Improvement, FreeTaxUSA Review – Free Tax Filing & Online Return Preparation, Chase Ink Business Preferred® Credit Card Review – 100k Points Sign-up Bonus, 26 Best New Bank Account Promotions & Offers – January 2021, Thrift Store Flipping – 8 Best Items to Resell for a Profit, Complimentary employee credit cards, complimentary online workshops on various business-related topics, Expense reports that segregate business and personal outlays, Up to $100,000 in protection against card misuse by terminated employees, A slew of ways to categorize spending (including by employee and purchase category), Transportation assistance for stranded travelers, Complimentary extended warranties on certain items with existing warranties. When you opt into the service, transactions that would regularly cause negative balances in your account are offset by cash advances from your Flagstar Visa Business Cash credit card’s cash advance credit line. Also, overdraft protection transfers immediately begin accruing interest at the cash advance rate, so it’s best to pay them off as quickly as possible. The cash advance APR is set at 24.49% to start but is also variable. Overall, this is a fine card for business owners who spend in the favored categories, though heavy spenders and those who travel frequently can likely find better opportunities elsewhere. Each overdraft protection transaction costs $10. However, the lack of favored spending categories and the pesky foreign transaction fee both limit this card’s generosity and appeal. 14 Best Cash-Back Credit Cards – Reviews & Comparison, 9 Best Low APR Interest Credit Cards – Reviews & Comparison, 18 Best Travel Rewards Credit Cards – Reviews & Comparison, 15 Best Hotel Rewards Credit Cards – Reviews & Comparison, 11 Best Gas Credit Cards – Reviews & Comparison, 12 Best Credit Cards for College Students – Reviews & Comparison, 22 Best Small Business Credit Cards – Reviews & Comparison, 10 Best Secured Credit Cards to Rebuild Credit – Reviews & Comparison. Had my travels not taken me to Flagstar’s neck of the woods, I likely would remain with the majority of Americans who have no idea the bank exists. However, due to the 2% to 3% foreign transaction fee, it’s not appropriate for frequent international business travelers. Login. No matter which card you choose, your business will benefit from important features like: Free online expense reporting tools. CHECKING. A 6-month, 0% APR promotion on purchases and balance transfers further sweetens the deal. LOANS. Minimum $100 deposit to open a business checking account. What Does Comprehensive Auto Insurance Cover? The penalty APR is set at 28.99%. All Rights Reserved. Locations & Loan Advisors (800) 945-7700 (800) 968-7700 (888) 248-6423; Customer Support; En español. But this card has some notable drawbacks, including a sub-par sign-up bonus and limited benefits for frequent business travelers – a key downside compared with higher-end business credit cards such as Chase Ink Business Preferred. The Flagstar Visa Business Bonus Rewards Card is a solid choice for frugal business owners who hate annual fees and don’t care about sign-up bonuses or cushy fringe benefits. SAVINGS. All other purchases earn 1% cash back. Personal; Business; Commercial; Search. Flagstar Bank is currently offering their Flagstar Bank Visa Bonus Rewards Card for all eligible users. CREDIT CARDS. Skip to content. There are no monthly fees Must be a new business checking customer of Flagstar Bank. Regardless of how you redeem, using your points wisely can be a great way to save money on a tight budget. Balance transfers cost $5 or 3%, no matter what. Late payments cost anywhere from $19 to $39, depending on size. It requires a $50 minimum deposit to open, but there is no monthly service fee and no minimum balance requirement. Must be a new business checking customer of Flagstar Bank. These advances keep your balance positive and allow attempted transactions to go through as usual. Skip to main content . In English. But Flagstar Bank’s low profile is deceptive. We have payroll tools designed to eliminate the hassles of payroll processing. Should you need such advice, consult a licensed financial or tax advisor. We may have financial relationships with some of the companies mentioned on this website. References to products, offers, and rates from third party sites often change. You can get your next credit card online, and it doesn’t have to be overwhelming. GO. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Significant credit blemishes are likely to impact your application, as are serious issues like recent personal bankruptcy. Official Facebook page of Flagstar Bank, where banking is our craft. Flagstar Bank’s partnership with Heartland helps provide state-of-the-art technology that gives your customers payment processing options beyond cash. – 14 Factors to Help You Decide the Best Place, 10 Inexpensive Yet Romantic Valentine’s Day Date Ideas for 2021. The foreign transaction fee is 2% to 3%, depending on how they’re denominated – dollar-denominated purchases are set at the lower rate. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer. Just add your supported cards and continue to get all the rewards, benefits, and security of your cards. Not only that, but you also get a 25% bonus on all points earned every month, and 1X points back on all eligible purchases, for no annual fee. Payroll Services. © 2021 Money Crashers, LLC. Balance transfers cost $5 or 3%. Menu. The content on MoneyCrashers.com is for informational and educational purposes only and should not be construed as professional financial advice. $500 bonus will be deposited into the qualifying business checking account 91-100 days from account opening and will be labeled “Descriptive Deposit Promotional Credit.” Relocating is an overwhelming prospect, especially on a deadline. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer. Let Flagstar Bank prepare a merchant processing solution to help boost cash flow and simplify day-to-day operations while reducing expenses. Note that your card’s cash advance credit line is likely lower than its spending limit and that overdraft cash advances immediately begin accruing interest after they’re executed. Such purchases earn unlimited 3% cash back. That’s why every online business banking account at Flagstar Bank is custom-built to make managing your company’s finances simple, no matter where you are. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others. All Rights Reserved. Airfare red… FLAGSTAR BANK . Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities. New business checking account must remain open for at least 90 days; Have deposits of at least $5,000 in the first 90 days ; Have at least 10 qualified transactions within the 90 day period (qualified transactions are debits, paid items, credits, and deposited items). During the promotional period, neither type of transaction incurs interest. Set up one-time and recurring payments in minutes! This card has no annual fee. Key benefits include the lack of an annual fee, generous (and unlimited) 2% and 3% cash back categories, the introductory 0% APR promotion, and the affordable overdraft protection for Flagstar deposit account customers. Brian Martucci writes about credit cards, banking, insurance, travel, and more. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others. Sounds pretty romantic — and expensive. For a year after you open your account, you can charge purchases and pay down balance transfers without accruing any interest. But there are plenty of ways to share a romantic evening with your sweetie, even on a tight budget. At the end of each statement cycle, you automatically get a 25% bonus on all points earned during the preceding period. So before you move, pore over these factors to avoid making a costly or anxiety-inducing mistake. The penalty APR is set at 28.99%. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. Once you opt in, transactions that would regularly result in negative account balances automatically trigger cash advances from your Flagstar Visa Business Bonus Rewards Credit Card’s cash advance credit line. – 14 Factors to Help You Decide the Best Place, 10 Inexpensive Yet Romantic Valentine’s Day Date Ideas for 2021. And, with a hard cap at 3% cash back, it’s not the most generous business cash back card on the market – others offer up to 5% back. Points expire 5 years (60 months) after they’re earned, so occasional users need to remember to redeem their points before they disappear. Search. Deciding where to live involves a lot of considerations, and the choice you make can dramatically impact your quality of life. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Apple Pay works with many of the major credit and debit cards from the top banks. Though that’s not the most generous baseline earning rate, a 25% point bonus is automatically applied at the end of each statement cycle, bumping up the effective return on spending to 1.25%. Brian Martucci writes about credit cards, banking, insurance, travel, and more. While we do our best to keep these updated, numbers stated on this site may differ from actual numbers. The Flagstar Visa Business Cash Card is great for small business owners who drive a lot, dine out with clients frequently, spend money on communications technologies, and patronize office supply stores. Relocating is an overwhelming prospect, especially on a deadline. After you make your first purchase, you get a one-time bonus of 2,500 points. Advertiser Disclosure: This post includes references to offers from our partners. Its sign-up bonus leaves something to be desired, and it lacks many of the generous consumer and traveler benefits that characterize competing business credit cards such as Chase Ink Business Preferred. Gasoline and restaurant purchases earn unlimited 2% cash back. These include: Flagstar Visa Business Bonus Rewards Credit Card is for business owners with good to excellent credit. Secure financing for short-term working capital. Most redemption methods, including cash and cash equivalents, value points at $0.01 apiece. However, this card isn’t perfect. To start, the cash advance APR is set at 25.49%, but can vary with prevailing rates. If these rates are too high for you, check out our list of the best low-APR credit cards. Among other things, we may receive free products, services, and/or monetary compensation in exchange for featured placement of sponsored products or services. Flagstar has a full lineup of business and consumer credit cards, from cash back and low APR products to travel rewards credit cards with juicy rewards programs, so it’s likely you’ll find an option that suits your needs. Keep in mind that your card’s cash advance credit line is likely to be lower than its overall spending limit. BUSINESS CREDIT CARDS. 62 were here. Learn about the benefits of establishing a business line of credit with Flagstar Bank. While we do our best to keep these updated, numbers stated on this site may differ from actual numbers. The Flagstar Visa Business Bonus Rewards Credit Card has no annual fee. The Flagstar Visa Business Bonus Rewards Credit Card’s business-friendly features and benefits include: Flagstar Visa Business Bonus Rewards Credit Card has some additional cardholder benefits backed by Visa. Cash redemptions value points at $0.01 apiece and require at least 2,500 points ($25 equivalent) to initiate. There’s a $10 fee per occurrence for this service. You deserve a credit card that works as hard as you do. The Flagstar Visa Business Bonus Rewards Credit Card earns unlimited 1 point per $1 spent on all purchases, with no caps or restrictions on how much you can earn. Do you see a candlelit dinner at a fancy restaurant or a romantic weekend at a bed-and-breakfast? When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. We strive to write accurate and genuine reviews and articles, and all views and opinions expressed are solely those of the authors. This allows them to go through as intended and ensures you meet your obligations to your payees. Depending on how they’re executed, cash advances cost the greater of $5 or 3% to $20 or 4%. Learn more. Find a branch. With this card, you can now earn 2,500 Bonus Points redeemable for $25 cash back when you make your first purchase with the new card. Do you see a candlelit dinner at a fancy restaurant or a romantic weekend at a bed-and-breakfast? Call us at (888) 248-6423 or try our online help. Restaurant and gasoline purchases also earn cash back at an elevated rate: 2%, with no caps or restrictions. Email This must be a valid email. This feature effectively bumps your point-earning rate up to a flat, unlimited 1.25%. As a variable rate, it’s subject to change over time. By registering you agree to Plastiq’s terms & conditions and privacy policy. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. The content on MoneyCrashers.com is for informational and educational purposes only and should not be construed as professional financial advice. While Flagstar’s card lineup isn’t always superior to household-name issuers such as Chase and Bank of America, it more than holds its own against the competition. Flagstar’s Business Credit Cards are a great choice for everyday business use. Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. With no annual fee, it’s fine for light to moderate spenders, and the 0% APR introductory promotion is a nice bonus for business owners with existing credit card debt or big-ticket purchases on the agenda. We strive to write accurate and genuine reviews and articles, and all views and opinions expressed are solely those of the authors. It’s a Michigan-based regional bank with branches in a few Midwestern and Southern states, not a national behemoth like U.S. Bank or Wells Fargo. References to products, offers, and rates from third party sites often change. It’s always smart to review your account activity and to call the number on the back of your card about unrecognized charges. Once the introductory period ends, this card’s purchase and balance transfer APR is set between 13.49 to 24.49%, your personal creditworthiness. Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. What Does Comprehensive Auto Insurance Cover? The rate is variable, meaning it’s subject to change over time. You get a one-time 2,500-point bonus after you make your first purchase. Need assistance? Compare Flagstar Bank rates for CDs and Savings with our best rates for Savings and CD accounts. Learn how we can help with your personal and business needs. Depending on how they’re executed, cash advances cost the greater of $5 or 3% to $20 or 4%. Among other things, we may receive free products, services, and/or monetary compensation in exchange for featured placement of sponsored products or services. The Flagstar Visa Business Bonus Rewards Credit Card has some other helpful benefits, including overdraft protection for current Flagstar Bank deposit account customers and business-friendly features that make it easier to track, report, and hold employees accountable for spending. Picture a couple on a date for Valentine’s Day. Flagstar Bank is based in Michigan. Whether you’re looking for cash back, reward points, or an extended introductory rate, we have the right credit card for you. If you have a Flagstar Bank checking account, you may qualify for the bank’s optional overdraft protection service. Flagstar Bank deposit account holders can take advantage of Flagstar Bank’s optional overdraft protection transfer service. The Flagstar Visa Business Cash Card is a small business credit card with no annual fee and a cash back rewards program favoring common business purchases such as office supplies and cell phone communications. The Flagstar Visa Business Cash Card has a 6-month, 0% APR introductory promotion on purchases and balance transfers. Sounds pretty romantic — and expensive. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Where Should I Live? Depending on how the transaction is denominated, the foreign transaction fee is 2% to 3%, with dollar-denominated purchases coming in at the lower rate. Contact us for more information about business or corporate credit cards. All Cards * 2.85% or Less. Advertiser Disclosure: This post includes references to offers from our partners. That’s equivalent to a cash bonus of $25. Reach him on Twitter. We continually monitor your account for fraudulent activity, including any merchant data breaches. Points expire 5 years (60 months) after they’re earned, so remember to redeem your points occasionally even if you don’t use this card often. The Flagstar Visa Business Bonus Rewards Credit Card has a 6-month, 0% APR introductory promotion on purchases and balance transfers. (888) 248-6423. Such purchases earn unlimited 3% cash back. All other purchases earn unlimited 1% cash back. Major drawbacks include the 2% to 3% foreign transaction fee, the 28.99% APR penalty interest charges, the mediocre sign-up bonus, and the fact that points expire after 5 years. If these rates are too high for your liking, check out our best low-APR credit cards. See why 218,388 people subscribe to our newsletter. Returned payments cost up to $35. Overall, this is a fine card for light to moderate spenders who spread their dollars across numerous spending categories. Minor blemishes may be problematic as well. Put your focus on growing your business. Top FAQs. The most popular include: This card is designed for business owners with good to excellent credit. 14 Best Cash-Back Credit Cards – Reviews & Comparison, 9 Best Low APR Interest Credit Cards – Reviews & Comparison, 18 Best Travel Rewards Credit Cards – Reviews & Comparison, 15 Best Hotel Rewards Credit Cards – Reviews & Comparison, 11 Best Gas Credit Cards – Reviews & Comparison, 12 Best Credit Cards for College Students – Reviews & Comparison, 22 Best Small Business Credit Cards – Reviews & Comparison, 10 Best Secured Credit Cards to Rebuild Credit – Reviews & Comparison. Points can be redeemed for statement credits against your credit card balance, direct deposits into checking or savings accounts (including Flagstar Bank accounts), general merchandise, travel purchases, and gift cards at dozens of participating restaurants and retailers. Serious issues like recent personal bankruptcy are likely to disqualify your application. Reach him on Twitter. Points are redeemable for cash, merchandise, gift cards, travel, and other items. Applying for a credit card is easy with Flagstar Bank. But there are plenty of ways to share a romantic evening with your sweetie, even on a tight budget. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities. Flagstar Bank’s SimplyChecking account is its no-interest, starter account. Business Credit Cards. We receive compensation when you click on links to those products. How can we help you? TREASURY MANAGEMENT. Merchandise and gift card redemptions assign variable values to points and may require more points to complete. So before you move, pore over these factors to avoid making a costly or anxiety-inducing mistake. , where banking is our craft their Flagstar Bank Visa bonus Rewards card light! 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