In the business credit card market, which is very competitive, some banks have decided to become niche players. The main reason for this choice to specialise is the need to gain market share.
The Advanta Bank Corporation is one of these niche players. Advanta is said to be one of the biggest companies that gives out business credit cards to small businesses. That's probably a good point, since Advanta has been known to focus solely on the small business market, and its business credit cards just show how much it cares about what small businesses need.
When you look at Advanta's business credit cards on their website, you are clearly reminded of this fact: there is only one featured card, the Advanta MasterCard Platinum Business credit card. This is a business credit card with cash back rewards that gives you a 5% discount on some things and a 1% discount on everything else.
To make their credit cards more appealing to small businesses, they are always trying to work with more companies that sell products and services that are part of the normal costs of running a small business.
To make their business credit cards more appealing to small businesses, Advanta gives out cash back bonuses faster than many other business credit cards. There is a feature that gives you cash back automatically, so you can start getting checks for every $50 you've saved up right away. This could help in a small way with cash flow.
If you'd rather, you can change your points into travel rewards instead. Many business credit cards won't let you travel for free until you've earned 15,000 or even 25,000 rewards points. Advanta business credit cards, on the other hand, let you travel for free once you've earned 10,000 rewards points.
As part of its niche strategy to meet the needs of the small business credit card market, Advanta, like many other large banks, gives business credit card holders access to a full library of small business resources, where they can find small business guides and tools.
Small business guides usually help people with business credit cards make business plans and marketing plans, and they also give information about certain financial products. Usually, there are tips on how to get lucrative government contracts and tips on how to keep your own assets safe. Most small business owners think the second point is important.
Small business tools usually give business credit card holders easy-to-use templates of official government forms (for tax purposes or for government contracts), samples of business documents like business letters, contracts, forms, and generalised statements of policies, as well as financial spreadsheets to help them manage their finances.
