Advanta Platinum Business Card

0% Intro APR* on Purchases and Balance Transfers for 12 months
No Annual Fee
Detailed Expense Management Reports
Free Online Account Management
Customized Card with Your Business Name
Business Credit Line Up To $50,000
$0 Fraud Liability
Personalized Card -- your company name at the top of the card* See Terms & Conditions

Annual Percentage Rate (APR) for Purchases and Balance Transfers: Prime plus 5.99% ; however, introductory 0% for the first twelve billing cycles from the date your account is opened.
Other APRs: Cash Advances: Prime plus 5.99% or Prime plus 15.99% .
Default: The higher of the account APR plus 3%, or Prime plus a Default Margin of 17.99%.
Grace Period for New Purchases: 25 days from statement closing date, if new balance is paid in full in the manner and by the time of day on its due date as shown on statement.
Annual Fee: None.
Minimum Finance Charge: If any finance charge is applicable: $1.
Transaction Fees for Cash Advances and Balance Transfers Cash Advances other than Convenience Checks: 3% (minimum $5); Convenience Check Cash Advances: 3% (minimum $5; maximum $50). Balance Transfers processed during the introductory period: 3% (minimum $5; maximum $50).
Other Fees Late Payment Fee: $15 to $39 based on balance. Overlimit Fee: $15 to $39 based on balance. Returned Payment Fee: $20. Dishonored Convenience Check Fee: $20.
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DID YOU KNOW?

	With so many credit card companies offering credit cards, the consumer market for credit cards has become one tough cookie to crack. To stay competitive, credit card companies offer various extra services, rewards programs and promos that would lure consumers to sign up with their company. Rewards program Most credit cards have a some sort of rewards program running. Rewards program in credit cards basically follow one set of principle. The more you spend and the more you use your credit card, the more points you will get. Often, there is a standard equivalent for every amount spent. For instance, one point is given for every, let's say, 10 dollars purchase. The points can be accumulated and later exchanged for a product or cash, whichever is being offered. Some banks even send out catalogs where their clients can see just what is being offered in exchange for their points. Some credit card companies even allow for half points-half cash scheme provided that it will be charged to the account. Rewards program is actually a great and effective way not only to lure customers into the program but also to keep them there. And what is more they are encouraged to use their credit cards as often as possible. Discounts in establishments Some credit cards offer discounts when used in partner establishments. Some credit card companies even offer up to 20 percent discount. This discount scheme can be usually found in credit cards that target a specific niche market. For instance, if a credit card company hopes to target the young professionals, they would partner with establishments where these people usually shop or eat at. Partner establishments can range from a measly ten to as many as 50 stores. Zero interest promos To lure people to spend, credit card companies often tie up with establishments and offer zero interest for a specific time frame. The client can purchase the item and be able to use it without paying for it immediately. The purchase will reflect in the monthly statement after the zero interest period has ended. This is often done with items that are very expensive such as tech gadgets, electronic equipments and house furnishings to encourage buyers to purchase item that they do not really need or are not so very necessary to their house. Luxury items such as jewelry are also sometimes covered by this scheme. Free items Credit card companies often offer free items when a client decides to sign up with them. Free items vary, depending on the type of account that a client will avail of and also depending on how high the credit limit is as well as the monthly income. Gold card clients for example will get a much more expensive free item when they sign up while those that have signed up on regular accounts will often get regular items. Waived service charges Credit card companies also reward their loyal customers, especially those who have reached a certain amount purchased in a year, by waiving some of the service charges that they incur. For instance, customers who have good credit history with the credit card company need not pay for the annual fee. The company automatically waives the fee so that the client will stay on with them.

Buying a home with poor credit is just as easy as buying a home with perfect credit. Years ago, many people with a low credit rating believed homeownership was unattainable. Fortunately, there are various loan programs designed to help people with low income, bad credit, and no down payment purchase a house. Included among these programs are interest-only loans.

What are Interest-Only Mortgage Loans?

Interest-only mortgage loans became popular in the early 2000's. The concept of interest-only loans is very unique. Ordinarily, monthly mortgage payments consist of a portion of the payment being applied to the principal balance, and a portion applied to the interest. In order to payoff a mortgage in 15 or 30 years, a specific amount of money must be paid each month.

On the other hand, if you obtain an interest-only mortgage loan, you pay only the interest for the first few years. Interest-only periods vary. Homeowners may opt for a three, five, seven, or ten year interest-only loan. After the interest-only period ends, the homeowner must begin making payments toward the principal and interest.

Why is an Interest-Only Loan Beneficial?

If you live in a booming housing market, an interest-only loan may be your only option for buying a home. Many are attracted to these loans because the initial mortgage payments are low. For example, a $200,000 conventional loan has a monthly payment of about $1200. With an interest-only loan, the mortgage would be about $800 a month. Hence, if you are buying in an overpriced market, affordable living is within reach.

Pitfall of an Interest-Only Loan

Once the interest-only period ends, you still owe the original loan amount. When homeowners begin making payments towards the interest and principal balance, mortgage payments may increase 40%. Most homeowners are unable to afford a mortgage increase. If you plan on living in your home for several years, an interest-only loan may not be a good option. On the other hand, if you earn a sizeable income and can afford a higher mortgage, you may benefit from this type of loan.

Another option involves selling your home before the interest-only period ends. If home values in your area have increased significantly, you may capitalize from the equity. However, if the housing market takes a nosedive and home values decline, you may be unable to sell your home.