Skip to main content
FRAUD AWARENESS REMINDER

Chartway will NEVER contact you directly and ask for specific confidential information (login credentials, PIN, card number, etc.). Be aware of fraudulent text and phone scams and take extra precaution. If you are contacted unprompted, please call us at (800) 678-8765. We are here to help keep your accounts safe.

Business Visa Rewards Credit Card

Earn Unlimited Points for Every Dollar Spent

No Annual Fee

Redeem Points for Rewards, Including Cash Back

The Chartway Business Visa® Credit Card
guarantees you the following:

  • No Annual Fee
  • No Balance Transfer Fee*
  • Same Interest on Purchases and Cash Advances
  • No Cash Advance Fee
  • Contactless Payment for Safe, Secure Transactions
  • Loan Assure – Payment Cancellation in the Event of Death, Disability, Involuntary Unemployment
  • 24/7 Lost and Stolen Card Reporting
  • Access to 1,000,000+ ATMs Worldwide
  • Zero Liability Policy – Fraud and Identity Theft Protection

Table data for Business Visa® Rates
 Effective 12-04-2024
Term Variable APR as low as Prime Rate Minimum Loan Limit Maximum Loan Limit Alert Me
Open 14.99% 8.25 $2,500 $35,000
Payment Terms: 2% of the unpaid balance or $20, whichever is greater

Frequently Asked Questions

What are the qualifications?

  • Time in business for two or more years (exceptions for Startup Businesses)
  • A FICO score of 660 or greater
  • Debt Service Coverage Ratio (DSCR) of 1.25
  • One year tax returns
  • Liquidity to Total Debt of 7%
  • Combined Net Worth (borrower plus guarantor) at least 3x the loan amount and lines of credit
  • Businesses must have a Chartway account with Prime Share and be located within Chartway’s general trade areas (Virginia, Utah, Northern Arizona, Southern Nevada, North Carolina, Houston Texas area)
  • Business documentation and identification required from borrower and guarantors

What business types are eligible to apply for the Business Visa?  

  • Sole proprietorship, LLC, partnerships, and corporations 

Are non-profits and unincorporated associations eligible for the Business Visa?  

  • Incorporated non-profits are eligible as long as an officer is willing be the personal guarantor.  
  • Unincorporated associations are not eligible for the Business Visa.  

How long does a business need to be in operation before applying for the Business Visa?  

  • Start up business are eligible for credit limits up to $5,000 OAC* the first year in business, or up to $10,000 OAC* if the business has been in operation for at least one year.  
  • Generally a business will need to be in operation for at least 2 years for limits over $10,000. 

What are the credit limits available?  

  • The minimum is credit limit available is $2,500. 
  • The typical maximum available for a Business Visa is $35,000 OAC*. 

Will this be based on a business owner’s personal credit score or business credit score?  

  • Underwriting will be based on a combination of both business and personal credit factors.  

What is a personal guarantee required and its it required? 

  • A personal guarantee is a provision in the loan agreement that requires owners to be personally responsible for their company’s debt in case of default.  
  • Any person with at least 20% ownership in the company is required to provide a personal guarantee.  
  • A personal guarantee will be required for all business entities except sole proprietorships.  

How does a member apply for a Business Visa?  

  • Members can apply through Chartway.com in the Business section. 

How does a borrower increase their credit limit?  

  • An existing Business Visa card holder would need to submit a new Visa application requesting a higher limit.  

How do we designate or change authorized card holders?  

  • An authorized card holder form will be provided to the borrower.  

Open a business account or learn more about business services.

A brighter way to embrace your financial journey – from anywhere.

Fast, secure, convenient face-to-face banking wherever you are.