Flagstar Bank’s partnership with Heartland helps provide state-of-the-art technology that gives your customers payment processing options beyond cash. 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. Key benefits include the lack of an annual fee, the 6-month interest-free promotion, the unlimited 1.25% baseline earning rate (thanks to the 25% monthly point bonus), the above-average returns on airfare redemptions, and the overdraft protection transfers for Flagstar deposit account customers. The penalty APR is set at 28.99%. Learn more. The content on MoneyCrashers.com is for informational and educational purposes only and should not be construed as professional financial advice. Do you see a candlelit dinner at a fancy restaurant or a romantic weekend at a bed-and-breakfast? Pay FLAGSTAR BANK with a credit or debit card online using Plastiq, a secure online payment service. Minimum $100 deposit to open a business checking account. Most redemption methods, including cash and cash equivalents, value points at $0.01 apiece. © 2021 Money Crashers, LLC. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. Regardless of how you redeem, using your points wisely can be a great way to save money on a tight budget. Flagstar’s Business Credit Cards are a great choice for everyday business use. Gasoline and restaurant purchases earn unlimited 2% cash back. If you’ve never heard of Flagstar Bank, you’re not alone. I’m only familiar with the company because I used to live in its home state. Just add your supported cards and continue to get all the rewards, benefits, and security of your cards. How can we help you? Relocating is an overwhelming prospect, especially on a deadline. © 2021 Money Crashers, LLC. So before you move, pore over these factors to avoid making a costly or anxiety-inducing mistake. No matter which card you choose, your business will benefit from important features like: Free online expense reporting tools. If these rates are too high for your liking, check out our best low-APR credit cards. The Flagstar Visa Business Bonus Rewards Card is a small business credit card with no annual fee and a straightforward cash back program that earns 1 Reward Point per $1 spent on all purchases, with no caps or restrictions on how much you can earn. Each overdraft protection transaction costs $10. 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. Flagstar Bank is currently offering their Flagstar Bank Visa Bonus Rewards Card for all eligible users. That’s equivalent to a cash bonus of $25. Flagstar Bancorp (NYSE:FBC) Given New $56.00 Price Target at Raymond James modernreaders.com 12/31/2020 Flagstar Bank Hires Karen Buck to Head Operations Neither type of transaction incurs interest during the promotional period. 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. Merchandise and gift card redemptions assign variable values to points and may require more points to complete. Flagstar Visa Platinum Credit Card has a 15-month 0% APR promotion covering purchases and balance transfers. Whether you’re looking for cash back, reward points, or an extended introductory rate, we have the right credit card for you. All other purchases earn unlimited 1% cash back. By registering you agree to Plastiq’s terms & conditions and privacy policy. Sounds pretty romantic — and expensive. Minimum $100 deposit to open a business checking account. To start, the cash advance APR is set at 25.49%, but can vary with prevailing rates. FLAGSTAR BANK . Bear in mind that you need at least 25,000 points to redeem for airfare. But, you don’t need to live in Flagstar’s trade area to qualify for a deposit account or credit card. However, the lack of favored spending categories and the pesky foreign transaction fee both limit this card’s generosity and appeal. Returned payments cost up to $35. These include: Flagstar Visa Business Bonus Rewards Credit Card is for business owners with good to excellent credit. 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. 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’s business-friendly features and benefits include: Flagstar Visa Business Bonus Rewards Credit Card has some additional cardholder benefits backed by Visa. Top FAQs. 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. The Flagstar Visa Business Bonus Rewards Credit Card has no annual fee. Let Flagstar Bank prepare a merchant processing solution to help boost cash flow and simplify day-to-day operations while reducing expenses. 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. 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. All Rights Reserved. What Does Comprehensive Auto Insurance Cover? We receive compensation when you click on links to those products. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. This feature effectively bumps your point-earning rate up to a flat, unlimited 1.25%. 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, Marriott Bonvoy Business™ American Express® Card, 26 Best New Bank Account Promotions & Offers – January 2021, Thrift Store Flipping – 8 Best Items to Resell for a Profit, Reports that automatically separate business and personal expenditures, Multiple ways to categorize spending (including by employee and purchase category), Complimentary online workshops on various business topics, Up to $100,000 in protection against card misuse by terminated employees, Purchase protection for 90 days, subject to certain limitations and exclusions, Complimentary extended warranties on items with existing warranties, subject to time limitations, 24-hour travel assistance services such as lost card replacement and transportation assistance. 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. 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. With banks across the Midwest, Flagstar Bank offers a range of banking and lending solutions. 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. The Flagstar Visa Business Cash Credit Card earns unlimited 3% cash back on purchases at office supply stores. Once the introductory period ends, this card’s purchase and balance transfer APR is set between 13.49 to 24.49%, your personal creditworthiness. You get a one-time 2,500-point bonus after you make your first purchase. During the promotional period, neither type of transaction incurs interest. 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. There are no monthly fees Must be a new business checking customer of Flagstar Bank. 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. 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. As a variable rate, it’s subject to change over time. If these rates are too high for you, check out our list of the best low-APR credit cards. Find a branch. The most popular include: This card is designed for business owners with good to excellent credit. Choosing the right business card is easier than ever. 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. Put your focus on growing your business. The most noteworthy include: The Flagstar Visa Business Cash Card has some notable fringe benefits backed by Visa. 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). 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. All other purchases earn 1% cash back. Points are redeemable for cash, merchandise, gift cards, travel, and other items. See why 218,388 people subscribe to our newsletter. While we do our best to keep these updated, numbers stated on this site may differ from actual numbers. Should you need such advice, consult a licensed financial or tax advisor. The penalty APR is set at 28.99%. 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. Restaurant and gasoline purchases also earn cash back at an elevated rate: 2%, with no caps or restrictions. We receive compensation when you click on links to those products. (888) 248-6423. LOANS. It also earns unlimited 3% cash back on purchases of certain communications services, including landline and cellular telephone, cable TV, and Internet. Serious issues like recent personal bankruptcy are likely to disqualify your application. 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. Depending on how they’re executed, cash advances cost the greater of $5 or 3% to $20 or 4%. Depending on how they’re executed, cash advances cost the greater of $5 or 3% to $20 or 4%. Menu. Flagstar Bank deposit account holders can take advantage of Flagstar Bank’s optional overdraft protection transfer service. Minor blemishes may be problematic as well. Payroll Services. References to products, offers, and rates from third party sites often change. Balance transfers cost $5 or 3%. There’s a $10 fee per occurrence for this service. 62 were here. Picture a couple on a date for Valentine’s Day. All Cards * 2.85% or Less. Late payments cost anywhere from $19 to $39, depending on size. With Flagstar Treasury Access—our business banking online platform—you have a one-stop solution to check balances and payment history, pay taxes and bills, make stop payments, and more—24/7. though. For a year after you open your account, you can charge purchases and pay down balance transfers without accruing any interest. Calculators. By accepting credit and debit cards, you’ll offer greater convenience and more ways to drive sales. The content on MoneyCrashers.com is for informational and educational purposes only and should not be construed as professional financial advice. Business Credit Cards. What Does Comprehensive Auto Insurance Cover? Deciding where to live involves a lot of considerations, and the choice you make can dramatically impact your quality of life. Restaurant and gasoline purchases also earn cash back at an elevated rate: 2%, with no caps or restrictions. Choose from our popular business credit card options such as low rate, cash back or flexible rewards to find the one that works best for your business. This card has no annual fee. Thanks to the value boost on airfare redemptions and the introductory interest-free promotion, it’s particularly useful for regular domestic travelers and new cardholders with big purchase or balance transfer plans. Learn about the benefits of establishing a business line of credit with Flagstar Bank. Compare Flagstar Bank rates for CDs and Savings with our best rates for Savings and CD accounts. Such purchases earn unlimited 3% cash back. You deserve a credit card that works as hard as you do. 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. 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. Flagstar Bank is based in Michigan. Important drawbacks include the lack of favored spending tiers or bonus categories, the 28.99% penalty APR, the 5-year point expiration period, the $25 minimum redemption threshold, the paltry sign-up bonus, and the foreign transaction fee of up to 3%. Flagstar Cash Rewards American Express Card. We continually monitor your account for fraudulent activity, including any merchant data breaches. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others. SAVINGS. Where Should I Live? 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. Deciding where to live involves a lot of considerations, and the choice you make can dramatically impact your quality of life. 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. In English. The Flagstar Visa Business Cash Card has a nice lineup of business-friendly features and benefits. 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. 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. – 14 Factors to Help You Decide the Best Place, 10 Inexpensive Yet Romantic Valentine’s Day Date Ideas for 2021. Cash redemptions value points at $0.01 apiece and require at least 2,500 points ($25 equivalent) to initiate. There’s no limit to the number of bonus points you can earn. Among other things, we may receive free products, services, and/or monetary compensation in exchange for featured placement of sponsored products or services. 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%. The Flagstar Visa Business Bonus Rewards Credit Card has a 6-month, 0% APR introductory promotion on purchases and balance transfers. 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. – 14 Factors to Help You Decide the Best Place, 10 Inexpensive Yet Romantic Valentine’s Day Date Ideas for 2021. Flagstar is a full-service bank with branches across Michigan. GO. Sounds pretty romantic — and expensive. 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. The foreign transaction fee is 2% to 3%, depending on how they’re denominated – dollar-denominated purchases are set at the lower rate. Learn more. Where Should I Live? If you have a Flagstar Bank checking account, you may qualify for the bank’s optional overdraft protection service. (888) 248-6423. Significant credit blemishes are likely to impact your application, as are serious issues like recent personal bankruptcy. Need assistance? Secure financing for short-term working capital. 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. CHECKING. So before you move, pore over these factors to avoid making a costly or anxiety-inducing mistake. All other … Following the end of the introductory period, this card’s purchase and balance transfer APR is set between 13.49% and 24.49%, depending on your personal creditworthiness and prevailing interest rates at the time. A 6-month, 0% APR promotion on purchases and balance transfers further sweetens the deal. If you’re looking to gain funding for your business’s short-term needs, a business line of credit is the perfect solution. The Flagstar Visa Business Cash Card is a solid choice for small business owners who spend in the favored categories: office supplies, communications, restaurants, gasoline. Payment sent via direct deposit to: 5151 CORPORATE DRIVE TROY, MI 48098. Overall, this is a fine card for light to moderate spenders who spread their dollars across numerous spending categories. But there are plenty of ways to share a romantic evening with your sweetie, even on a tight budget. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer. It requires a $50 minimum deposit to open, but there is no monthly service fee and no minimum balance requirement. Relocating is an overwhelming prospect, especially on a deadline. 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. 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. Set up one-time and recurring payments in minutes! Skip to main content . But there are plenty of ways to share a romantic evening with your sweetie, even on a tight budget. 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. 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. Still, for business owners who can align their spending with its 2% and 3% cash back categories, it’s worth a look. BUSINESS CREDIT CARDS. Types of credit cards. Flagstar Bank in the north-central U.S. has low interest rates on its basic accounts, but offers low fees and good branch access in its region. Search. After you make your first purchase, you get a one-time bonus of 2,500 points. You can get your next credit card online, and it doesn’t have to be overwhelming. 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. I’ve reviewed a lot of bank-backed cash back, small business, and travel rewards credit cards. These advances keep your balance positive and allow attempted transactions to go through as usual. We may have financial relationships with some of the companies mentioned on this website. We strive to write accurate and genuine reviews and articles, and all views and opinions expressed are solely those of the authors. Reach him on Twitter. Login. Brian Martucci writes about credit cards, banking, insurance, travel, and more. $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.” Skip to content. 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. For light to moderate spenders who spread their dollars across numerous spending categories the! Of your card about unrecognized charges for frequent international business travelers via direct deposit to open, but is. List of the companies mentioned on this site may differ from actual numbers the right business card easy... Supported cards and continue to get all the flagstar bank business credit card, benefits, and rates from third party often. 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