Old National Bank business credit cards offer a range of solutions designed to streamline your business finances and maximize your financial potential. From rewarding points programs to robust fraud protection, these cards empower businesses of all sizes to manage their expenses effectively and unlock new opportunities for growth.
Each card caters to specific business needs, providing features like cash back rewards, travel perks, and purchase protection. Understanding the unique benefits of each card can help you choose the one that best aligns with your business goals and spending habits.
Overview of Old National Bank Business Credit Cards
Old National Bank offers a variety of business credit cards designed to cater to the diverse needs of small and medium-sized businesses. These cards provide valuable rewards, competitive interest rates, and convenient features that can help businesses manage their finances effectively.
Types of Business Credit Cards Offered by Old National Bank, Old national bank business credit card
Old National Bank offers two main types of business credit cards:
- Old National Bank Business Rewards Visa Signature Card: This card is ideal for businesses that prioritize earning rewards on everyday purchases. It offers a generous rewards program, allowing businesses to earn points on every purchase, which can be redeemed for travel, merchandise, or cash back.
- Old National Bank Business Cash Rewards Visa Signature Card: This card is designed for businesses that prefer straightforward cash back rewards. It provides a fixed cash back rate on all purchases, making it a simple and reliable option for businesses looking to maximize their savings.
Key Features of Old National Bank Business Credit Cards
- Rewards Programs: Both the Business Rewards Visa Signature Card and the Business Cash Rewards Visa Signature Card offer comprehensive rewards programs. The Business Rewards Visa Signature Card allows businesses to earn points on every purchase, while the Business Cash Rewards Visa Signature Card provides a fixed cash back rate. The specific rewards earned will depend on the card chosen and the type of purchase made.
- Interest Rates: The interest rates on Old National Bank business credit cards vary depending on the card chosen and the applicant’s creditworthiness. However, Old National Bank typically offers competitive interest rates compared to other financial institutions. Businesses can check the current interest rates on the Old National Bank website or by contacting a customer service representative.
- Annual Fees: Old National Bank business credit cards have annual fees associated with them. The specific annual fee will depend on the card chosen. Businesses should carefully consider the annual fee when choosing a business credit card, as it can impact the overall cost of using the card.
- Credit Limits: The credit limit on Old National Bank business credit cards is determined by the applicant’s creditworthiness. Businesses with strong credit history and good financial standing are typically eligible for higher credit limits. Credit limits can be increased over time as the business demonstrates responsible credit management.
Eligibility Criteria for Applying for Old National Bank Business Credit Cards
To be eligible for an Old National Bank business credit card, businesses must meet the following criteria:
- Established Business: Applicants must have a registered and operating business. The business should have a track record of financial activity and a valid business tax identification number (TIN).
- Good Credit History: Applicants should have a good credit history, demonstrating responsible credit management in the past. Old National Bank will review the business’s credit score and financial statements to assess creditworthiness.
- Sufficient Income: Businesses should have sufficient income to cover the monthly payments on the credit card. Old National Bank may require financial documentation to verify income levels.
Benefits of Using an Old National Bank Business Credit Card
A business credit card can be a valuable tool for managing your business finances, offering a range of benefits that can help you save money, improve efficiency, and enhance customer satisfaction. Old National Bank offers a variety of business credit cards with features designed to meet the specific needs of businesses of all sizes.
Reward Points and Cash Back
Earning rewards on business expenses can be a significant benefit, allowing you to offset costs and potentially increase your bottom line. Old National Bank business credit cards offer reward points or cash back programs, allowing you to earn rewards on eligible purchases.
- For example, the Old National Bank Business Cash Rewards Mastercard offers 1.5% cash back on all purchases, while the Old National Bank Business World Mastercard offers 2 points per $1 spent on travel and dining purchases.
These rewards can be redeemed for statement credits, travel expenses, merchandise, or gift cards, providing valuable savings for your business.
Travel Perks
Travel perks can be particularly beneficial for businesses that frequently travel for work. Old National Bank business credit cards offer a range of travel benefits, such as:
- Priority airport check-in and boarding: This benefit can save you valuable time, especially during busy travel periods.
- Travel insurance: This can provide coverage for unexpected events such as trip cancellation, lost luggage, or medical emergencies.
- Lounge access: This benefit provides access to airport lounges, offering a comfortable and relaxing environment to work or relax before your flight.
These benefits can significantly enhance the travel experience for your employees and help to make business travel more efficient and enjoyable.
Purchase Protection
Purchase protection can provide peace of mind for businesses that make large purchases. Old National Bank business credit cards offer purchase protection that covers eligible purchases against damage, theft, or accidental damage for a specified period. This can help businesses to mitigate financial losses in the event of an unexpected incident.
Fraud Protection
Fraud protection is an essential feature for any business credit card. Old National Bank business credit cards offer robust fraud protection, including zero liability for unauthorized charges. This means that you are not responsible for fraudulent charges made on your card, providing peace of mind and financial security.
Comparison with Other Business Credit Cards
Choosing the right business credit card can be a complex process, as numerous options are available with varying features and benefits. To help you make an informed decision, this section compares Old National Bank business credit cards with similar offerings from other major banks. We will focus on key features, rewards programs, and fees to highlight the strengths and weaknesses of each card.
Comparison Table
The following table provides a side-by-side comparison of key features for Old National Bank business credit cards and competitor cards:
| Feature | Old National Bank Card | Chase Ink Business Preferred® Credit Card | American Express® Blue Business Plus Credit Card |
|---|---|---|---|
| Annual Fee | $0 (some cards may have an annual fee) | $95 | $0 |
| Reward Points | 1 point per $1 spent | 3 points per $1 spent on travel and select business purchases, 1 point per $1 spent on all other purchases | 2 points per $1 spent on the first $50,000 in purchases each calendar year, then 1 point per $1 spent |
| Sign-Up Bonus | Varies by card | 80,000 bonus points after spending $5,000 in purchases within the first 3 months of account opening | 50,000 bonus points after spending $3,000 in purchases within the first 3 months of account opening |
| Purchase Protection | May be offered | Yes | Yes |
| Travel Insurance | May be offered | Yes | Yes |
| Rental Car Insurance | May be offered | Yes | Yes |
| Extended Warranty | May be offered | Yes | Yes |
Rewards Program Comparison
The rewards program offered by Old National Bank business credit cards may vary depending on the specific card. However, most cards offer 1 point per $1 spent on all purchases. While this is a straightforward program, it may not be as competitive as other cards that offer bonus points for specific spending categories.
For example, the Chase Ink Business Preferred® Credit Card offers 3 points per $1 spent on travel and select business purchases, which can be significantly more valuable for businesses with high travel or business-related expenses. The American Express® Blue Business Plus Credit Card offers 2 points per $1 spent on the first $50,000 in purchases each calendar year, which can be beneficial for businesses with high overall spending.
Fee Comparison
Old National Bank offers business credit cards with no annual fee, making them an attractive option for businesses looking to avoid additional costs. However, some Old National Bank cards may have other fees, such as balance transfer fees or foreign transaction fees. It is essential to carefully review the terms and conditions of each card to understand all associated fees.
The Chase Ink Business Preferred® Credit Card has an annual fee of $95, while the American Express® Blue Business Plus Credit Card has no annual fee. While the Chase Ink Business Preferred® Credit Card offers a more robust rewards program, the annual fee may be a deterrent for some businesses.
Conclusion
The choice of business credit card depends on the specific needs and spending habits of your business. Old National Bank offers competitive business credit cards with no annual fee, making them an attractive option for businesses looking to save money. However, it is essential to compare the features and benefits of Old National Bank cards with other offerings to determine the best fit for your business.
Applying for and Managing an Old National Bank Business Credit Card
Applying for and managing an Old National Bank business credit card is a straightforward process that involves completing an application, providing necessary documentation, and managing your account effectively.
Applying for an Old National Bank Business Credit Card
The application process for an Old National Bank business credit card is designed to be user-friendly. You can apply online, over the phone, or in person at a local branch.
The online application process is the most convenient option. Here’s how to apply:
- Visit the Old National Bank website and locate the business credit card application.
- Provide your personal and business information, including your name, address, Social Security number, business name, and business tax identification number.
- Select the card you want to apply for and review the terms and conditions.
- Submit your application and wait for a decision.
Required Documentation
To complete your application, you’ll need to provide supporting documentation, such as:
- Proof of identity: A valid driver’s license or passport.
- Proof of business ownership: Articles of incorporation, partnership agreement, or sole proprietorship documentation.
- Business financial statements: Profit and loss statements, balance sheets, and tax returns.
- Personal financial statements: Credit reports and bank statements.
Managing Your Old National Bank Business Credit Card Account
Managing your Old National Bank business credit card account involves making payments, accessing your account online, and monitoring your spending.
Making Payments
You can make payments on your Old National Bank business credit card account in several ways:
- Online: Log in to your account online and make a payment using your checking account or savings account.
- By phone: Call Old National Bank customer service and make a payment over the phone.
- By mail: Send a check or money order to the address provided on your statement.
Setting Up Online Access
Setting up online access to your account allows you to manage your account from anywhere with an internet connection.
- Visit the Old National Bank website and click on the “Online Banking” link.
- Click on the “Enroll Now” button and follow the instructions to create an account.
- Once you have enrolled, you can log in to your account and view your statement, make payments, and manage your account settings.
Monitoring Spending
Monitoring your spending is essential to managing your business credit card account effectively.
- Track your spending: Keep track of all your business expenses and reconcile them with your credit card statement.
- Set spending limits: Set spending limits for your employees or for specific categories of expenses to help control costs.
- Review your statement: Review your credit card statement each month to ensure that all charges are accurate and that you are not exceeding your credit limit.
Security and Fraud Protection
Old National Bank is committed to safeguarding your business credit card accounts from fraud. They employ robust security measures and provide comprehensive fraud protection resources to help you protect your business and your finances.
Security Measures
Old National Bank implements various security measures to protect your business credit card accounts from fraudulent activity. These measures include:
- Data Encryption: Old National Bank uses industry-standard encryption technology to protect your sensitive information, such as your card number and personal details, when you make transactions online or over the phone. This encryption process converts your data into an unreadable format, making it difficult for unauthorized individuals to access it.
- Two-Factor Authentication: To further enhance security, Old National Bank may require two-factor authentication for certain transactions. This involves providing an additional piece of information, such as a one-time code sent to your mobile device, in addition to your password. This extra layer of protection helps prevent unauthorized access to your account, even if someone knows your password.
- Fraud Monitoring: Old National Bank uses advanced fraud detection systems to monitor your transactions for suspicious activity. These systems analyze transaction patterns and identify potential fraudulent transactions, alerting the bank to investigate and take appropriate action. This proactive approach helps prevent fraudulent transactions from going through and protects your business from financial losses.
- Secure Website: Old National Bank’s website uses HTTPS protocol, which ensures secure communication between your browser and the bank’s servers. This helps protect your data from interception or modification by unauthorized individuals when you access your account online.
Reporting Lost or Stolen Cards
If your business credit card is lost or stolen, it’s crucial to report it to Old National Bank immediately to prevent unauthorized use. You can report a lost or stolen card by:
- Calling the customer service number: The customer service number is usually printed on the back of your card. They will guide you through the necessary steps to report the lost or stolen card and request a replacement.
- Reporting online: Some banks may offer online reporting options through their website or mobile app. You can access your account online and follow the instructions to report a lost or stolen card. This can be a convenient and efficient way to report the issue quickly.
Resolving Fraudulent Transactions
If you discover fraudulent transactions on your business credit card account, you need to take immediate action to protect your business. Here’s how to resolve fraudulent transactions:
- Report the fraudulent transactions: Contact Old National Bank’s customer service department and report the fraudulent transactions. Provide them with as much detail as possible, including the transaction date, amount, merchant name, and any other relevant information. This allows the bank to investigate the transactions and take appropriate action.
- Dispute the charges: Old National Bank will typically investigate the fraudulent transactions and work with you to resolve the issue. They may require you to provide documentation, such as receipts or statements, to support your claim. If the bank determines the transactions were fraudulent, they will credit your account for the unauthorized charges.
- File a police report: In some cases, you may need to file a police report to document the fraud. This can be helpful for insurance claims or other legal purposes. The police report provides evidence of the crime and helps protect your business from further fraudulent activity.
Preventing Credit Card Fraud
Businesses can take proactive steps to minimize the risk of credit card fraud. Here are some tips to prevent fraud:
- Train employees: Train all employees who handle credit card transactions on best practices for preventing fraud. This includes educating them on common fraud schemes, recognizing suspicious transactions, and implementing secure handling procedures. Regular training helps ensure that employees are aware of the risks and know how to protect your business from fraud.
- Use secure payment terminals: Ensure that all point-of-sale (POS) terminals used by your business are equipped with secure payment processing capabilities. This includes using terminals that comply with industry standards, such as PCI DSS (Payment Card Industry Data Security Standard), and have encryption features to protect cardholder data. Secure payment terminals help minimize the risk of data breaches and protect your business from fraudulent transactions.
- Verify customer identity: Before accepting a credit card transaction, verify the customer’s identity by checking their photo ID and comparing it to the name on the card. This helps prevent unauthorized use of stolen or counterfeit cards. You can also consider using additional verification methods, such as signature verification or PIN validation, to further enhance security.
- Protect card data: Keep credit card data secure by storing it in a safe and secure location, limiting access to authorized personnel, and disposing of sensitive information properly. Avoid storing card numbers or other sensitive data on unsecured computers or networks. Ensure that all devices used for processing credit card transactions are protected with strong passwords and updated security software.
- Monitor transactions regularly: Regularly review your business credit card statements for suspicious activity. Look for transactions you don’t recognize, unusual spending patterns, or charges that are significantly higher than your usual expenses. This proactive monitoring helps you identify potential fraud early on and take action to resolve the issue.
Customer Service and Support
Old National Bank prioritizes providing excellent customer service to its business credit cardholders. They offer various support options to assist with account management, billing inquiries, and other issues.
Contacting Customer Support
Old National Bank provides multiple ways to contact customer support for assistance with your business credit card. These options ensure that you can get the help you need, regardless of your preferred method of communication.
- Phone: Call the customer service number on the back of your credit card. This is the most direct way to speak with a representative and get immediate assistance.
- Online: Visit the Old National Bank website and access the customer support section. This allows you to submit inquiries, view frequently asked questions, and find answers to common issues.
- Mobile App: Download the Old National Bank mobile app and access the support section within the app. This provides convenient access to account information and support resources directly from your mobile device.
- Branch Visit: If you prefer in-person assistance, visit your nearest Old National Bank branch. Branch staff can assist with a range of inquiries and provide personalized guidance.
Summary
By leveraging the advantages of an Old National Bank business credit card, you can optimize your cash flow, improve your creditworthiness, and enhance your overall business performance. Whether you’re seeking to earn rewards, manage expenses, or protect your business from fraud, these cards provide a comprehensive suite of tools to support your financial journey.
FAQ Corner: Old National Bank Business Credit Card
What are the eligibility requirements for an Old National Bank business credit card?
Eligibility requirements vary depending on the specific card. Generally, you’ll need a good credit score, a strong business history, and proof of income. It’s best to check the individual card’s requirements on the Old National Bank website.
How can I make payments on my Old National Bank business credit card?
You can make payments online, by phone, or by mail. Old National Bank provides convenient online account management tools to track your balance, make payments, and manage your spending.
What are the benefits of using an Old National Bank business credit card for travel expenses?
Some Old National Bank business credit cards offer travel perks like bonus points for airline or hotel purchases, travel insurance, or access to airport lounges. Check the specific card details to see what travel benefits are included.