Notify Us of Travel Plans

Travel plans for Independence Day? Let us know if you’ll be traveling out of the tri-state area to ensure your Merchants Bank debit or credit cards continue to work. Submit a travel alert in Online & Mobile Banking or call us at (866) 496-0522. Have a safe holiday!

Business Credit Card

With competitive rates and worldwide acceptance, our Visa® Business Credit Cards offer:

  • Local service from your Merchants Bank branch
  • Flexible payment options (as little as 3% of your balance each month to match the cash flow needs of your business)
  • Multiple credit cards for your staff, including customized cardholder names, making record-keeping and tracking easy
  • Purchasing card program with online access to EZ Business Card Management
  • ScoreMore bonus points with the Visa Business ScoreCard
  • Contactless payments
  • The power to protect and track credit card transactions with the Merchants Bank Credit Card App

Summary of Visa® Business Credit Card Account Terms

Annual Percentage Rate (APR) for retail purchases and balance transfersPrime + 4%, variable rate1,3
Cash Advance RatePrime + 7%, variable rate1,3
Penalty Rate21.75%2
Method of Computing Balance for PurchasesAverage daily balance, including new purchases
Grace Period for Purchases25 days4
Minimum Finance ChargeNone
Annual Membership Fee
  • Visa® Business Credit Card: $25 per card
  • Visa® Business ScoreCard: $45 per card, waived with annual retail purchases totaling $20,000 or more per account
Cash Advance Fee$3
Other Fees
  • Late Payment fee: $25
  • Over the Limit fee: $25 will be assessed each month you exceed the line of credit
  • Returned Check fee: $30
  • Balance Transfer fee: None
  • Replacement Card fee: $10 if card is replaced more than once in any 12 month period
  • Foreign Currency fee: 1% of the converted transaction amount

Purchasing Card Program

For larger businesses who would like more hands-on access to managing your credit card program, Merchants Bank offers purchasing cards (sometimes known as commercial credit cards). With our purchasing card program, your business administrator will have the ability to manage many aspects through an online site (EZ Business Card Management), including:

  • Ordering and closing employee cards.
  • Setting custom spending limits.
  • Easily pay some or all of your cards in one spot.
  • Enrolling in Expense Management for sophisticated reporting on all credit card activity.
  • And more!

Interested in purchasing cards? Contact our Credit Card department to learn more.

Credit cards subject to credit approval.

(1) Based on U.S. Bank, N.A. prime rate.

(2) If your minimum monthly payment is not received and your account becomes past due (30 days late) 2 times within a 12-month period, all rates will be

increased to the Penalty APR. All rate changes effective as of your last statement closing date.

(3) WHEN INTEREST RATES BEGIN TO ACCRUE. All cash advances are subject to a FINANCE CHARGE from the date of the cash advance. The annual

percentage rate (APR) may vary on your account. The rate is determined by adding a margin to the U.S. Prime Rate. The annual percentage rate may

vary monthly. Merchants Bank reserves the right to change the APRs in accordance with the Bank Credit Card Agreement and the laws of the State of

Minnesota and the Federal Truth in Lending Act.

(4) Purchases are subject to a finance charge from the date they are posted to the account; however, no interest is imposed on purchases if the account

balance is paid in full within 25 days after the statement closing date. If you elect not to pay the entire new balance shown on your previous monthly

statement within that 25-day grace period, a finance charge will be imposed on the unpaid average daily balance of such Credit Purchases from the previous

statement closing date and on new Credit Purchases from the date of posting to your account during the current billing cycle, and will continue to

accrue until the closing date of the billing cycle preceding the date on which the entire new balance is paid in full or until the date of payment if more

than 25 days from the closing date. The finance charge for a billing cycle is computed by applying the monthly periodic rate to the average daily balance

of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily

balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new

Credit Purchases posted to your account, and subtracting any payments as received or credits as posted to your account, but excluding any unpaid finance

charges.

Contact Us to Apply for a Business Credit Card.

Credit Card Processing

We make processing and accepting credit card, debit card and gift card payments easy and efficient for your business.

Treasury Management

Dedicated to your success, we provide your business with tools to manage your corporate cash efficiently and protect your financial accounts from fraud.

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