Getting access money to operate is critical for a small business to thrive. The BlueVine Business Credit Card offers adjustable financing up to $250,000 to help power a company’s expansion. This funding is designed to evolve with a firm’s variable capital needs to support key business goals now and in the future.
In this post, you will learn the key features, costs, and application process for the BlueVine Business Credit Card. Discover how this unique card can support your goals.
Overview of the BlueVine Business Credit Card
The BlueVine Business Credit Card offers an alternative to conventional small business loans and lines of credit. BlueVine utilizes technology and data analytics to deliver customizable credit lines.
Here are the key facts about the BlueVine Business Credit Card:
- Issued by Celtic Bank
- Runs on the Mastercard network
- Credit limits from $5,000 up to $250,000
- No personal guarantee or collateral required
- Revolving line of credit
- Online account management
BlueVine performs underwriting using business data like processing volumes, shipping activity, insurance info, and more. This enables streamlined approvals and funding.
As your financing needs evolve, you can adjust your credit limit anytime through the BlueVine dashboard. This flexibility is ideal for variable needs.
Benefits and Features
The BlueVine Business Credit Card provides these key benefits:
Funding flexibility – Credit limits scale to match your monthly card processing volumes. Modify your limit easily when needs change.
Revenue-based limits – Approved credit lines correspond to your monthly card sales, up to $250,000.
1.5% cash back – Earn cash back rewards on every card purchase to offset costs.
Virtual cards – Add employee cards with custom limits to manage organization spend.
Online account access – Manage payments, adjust limits, review activity, and more 24/7 through your online account portal.
Mobile app – Manage your account on the go with the BlueVine mobile app.
Fast funding – Get access to funds in as little as 48 hours after approval.
For startups and small companies, these features enable accessible financing that evolves alongside your business.
Fees and Financing Costs
When weighing the BlueVine Business Credit Card, it’s important to understand the costs:
- APR of 6.99% – 29.99% variable
- No application, origination, or annual fees
- 3% balance transfer fee
- 5% cash advance fee (min. $5)
- No foreign transaction fee
- $25 late payment fee
- $20 returned payment fee
The purchase APR you receive depends on your business’s financial profile. BlueVine discloses all lending costs upfront.
With responsible use, you can avoid interest charges by paying your balance off monthly. And the 1.5% cash back helps counter some purchase costs.
To qualify for the BlueVine Business Credit Card, your business must meet these core criteria:
- Established business operational for 6+ months
- Minimum credit score of 650 (based on business owner’s score)
- Minimum $50,000 in annual revenue
- Applicant must own at least 20% equity in the business
BlueVine performs underwriting utilizing business data like processing history, shipping volumes, cash flow, and more.
Your personal credit score is factored in but not the sole approval factor. BlueVine can approve more applicants than conventional small business cards.
Nearly any type of U.S. business can qualify for this card, including startups and high-risk industries often excluded from financing.
How to Apply
Applying for the BlueVine Business Credit Card only takes a few minutes through BlueVine’s streamlined online application process:
- Access Bluevine.com on your web browser and navigate to the credit card application page, click on “Apply Now” to start the simple application process.
- Provide basic background information on your business including the type of business entity, years of operations, your primary industry and ownership details such as name, email, and position. You will also provide contact information including mailing address, phone and email details.
- Navigate to the banking section of the application and securely link your primary business bank account or operating account so BlueVine can verify account details and transaction history as part of the credit review. Connecting these accounts is a secure process with read-only permissions for BlueVine.
- Next, select the credit limit you would like to request for your BlueVine business credit card. Credit limits range from $5,000 to $250,000 based on your business credit history and underwriting evaluation.
- Provide tax ID numbers, ownership documentation and financial statements as required during your application review. Digital documentation is preferred for fast review.
- Review and digitally sign the loan agreement from BlueVine should you receive a credit offer. Review terms, rates and conditions carefully before accepting.
Continue Your Application
- Get a near instant credit decision from BlueVine after your full application has been submitted and reviewed. Decisions are typically delivered in less than 48 hours by email.
- If approved, accept the loan offer through e-signature. Finalize the digital loan paperwork to access your credit line.
- Activate your new BlueVine Business Credit Card and access your credit funds once you complete the easy acceptance process. Funds can be accessed quickly after completing sign-off.
The streamlined online application enables access to financing in as little as 48 hours. BlueVine does not require extensive paperwork or wait times.
Logging in to Make a Payment
Once approved, you can log into your BlueVine account anytime to review activity and make payments:
- Go to Bluevine.com and click “Sign In”
- Enter your email and password to access your account dashboard
- Click on “Make Payment” from the left menu
- Select whether to pay your total balance, minimum payment, custom amount, or scheduled payment
- Enter your debit card information or bank account details
- Verify payment details and submit
- Your payment will process immediately
Setting up automatic payments is also an option to avoid late fees. The online portal enables managing your account conveniently anytime.
Some Use Tips
If approved for the BlueVine Business Credit Card, practice responsible use and oversight:
- Pay balances timely and in full when possible to avoid interest charges. Use autopay if helpful.
- Review statements closely every billing cycle and report any unauthorized activity ASAP.
- Keep utilization low during slower business periods to maintain healthy credit.
- Create numbered employee cards with appropriate limits aligned to their roles.
- Notify BlueVine promptly regarding any changes to your business’s contact information or structure.
Following best practices ensures this financing empowers your venture for the better.
Is BlueVine’s Card Right for Your Business?
For many growing small firms, the BlueVine Business Credit Card provides customizable financing that aligns with variable needs. Streamlined approvals, rewards, and transparent terms create value.
Yet finding the right funding mix requires analyzing your specific business model and goals. With responsible usage and oversight, tools like the BlueVine card can empower your organization’s continued expansion. Consider if this card aligns with your capital strategy as you scale.
The BlueVine Business Credit Card aims to provide the flexible financing growing businesses need. Its revenue-based limits, fast funding, and streamlined application can support entrepreneurs looking to scale.
While assessing your capital needs and ability to responsibly manage credit is crucial, this card presents an option for variable working capital with transparent terms. For many dynamic small firms, BlueVine’s offering matches the pace of progress.