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This is a credit card created purely for businesses; you must prove upon application that it will be used solely for this purpose and not as a personal credit account. The platinum status means that this is a card for those with a good credit rating and high annual income (in terms of the business itself) and because of this it is possible to get a higher credit limit than with other business cards. There are no annual fees on this credit card, however there are other standard related fees that you must become familiar with before using the account: late fees, overlimit spending fees, cash advance fees and APR and balance transfer fees. Late fees are calculated according to the amount you owe: for anything up to $250 the fee is $15; for anything over that amount you will be charged $39. If you spend more than you have been allocated in credit you will be charged a flat fee of $35. Cash advances on this card are more expensive than most because of the minimum payment of $10; technically each cash advance will cost you 3% of the amount taken out. Cash advances are charged APR at 20.99%. If you spend in a foreign currency, the conversion fee is 3% of the amount once it has been converted to American dollars. If you wish to make a balance transfer from one or more of your existing credit card accounts to this one, there is a 3% transfer fee for each transaction. There is a minimum payment of $5 and a maximum payment of $99. After a twelve month no-APR grace period on balance transfers, the balance is subject to standard purchase APR. For this particular account, the purchase APR is dependent on your own credit history and annual income. You may be offered a purchase APR of 8.99%, 12.99% or 19.99% variable, however if you fail to make payments on time each month this introductory offer will shoot up to the default APR of up to 28.99% variable. You will also stand to lose the introductory twenty day no-purchase-APR grace period. If you have the good credit history and the business income to be offered a low purchase APR, this would be an ideal business credit card especially considering the fact that there are no annual fees. If you must accept the card with a higher APR, however, there are other and better options out there that will cost you the same amount for a standard business card with reward schemes attached.