Kiva Advanta Business Credit Card Review
Filed Under (Credit Card Reviews) by creditblogger on 10-10-2008
Kiva is a nonprofit organization that has revolutionized the concept of micro lending. This past Spring, Kiva and Advanta joined hands to launch the first grant credit card for small businesses.
Kiva business credit card is one of the few cards designed specifically for social entrepreneurs. With Kiva credit card the cardholders have the ability to award grants to entrepreneurs in the developing countries. Kiva is a highly reputable organization that is well-know around the world. It will be responsible in handling these grants. There is no repayment guarantee for folks who decide to grand money to entrepreneurs in need around the world, but the Kiva foundation has a very good full repayment rate.
Advanta does its part to encourage cardholders to contribute to the Kiva project. When cardholders use their Kiva business credit card to make grants through Kiva.org to business owners in the developing world, Advanta will match their grants, up to a limit of $200 per month per account in total.
Like other Advanta credit cards, Kiva business credit card comes with a rich set of rewards. There is no annual fee for Kiva business card. In addition, the cardholders are protected by Advanta’s $0 fraud liability program. The card comes with 0% APR on balance transfers for 15 month and a low 7.99% APR thereafter. In addition, you get 5% statement credit on qualifying purchases (including grants to the Kiva foundation).
Unfortunately, Advanta puts a cap on the amount of grant they are willing to match. Advanta matches up to a limit of $200 per month per account. In addition, you only receive 5% cash back on your first $1200 in spending each year. After that your cash back rate will drop to 1%. Finally, there is no guarantee that you will get your money back if you decide to contribute to Kiva B4B project with your Kiva business credit card.
The Kiva Advanta business credit card is not for everyone. While the card comes with low APR on balance transfer and purchases and no annual fee, it is slightly limited in the rewards department. In essence, it is for entrepreneurs who are in need of a decent business credit card but would like to give back to the community as well. This card is certainly not for small businesses who are just starting up.
