The Servus Business No Fee Mastercard is a business credit card with low interest rates and a nice insurance package. And with no annual fee, it’s an attractive card for businesses that need to save money on a credit card balance.

Here's a breakdown of the card, its pros and cons, and a comparison with a popular business card.

Pros of the Servus Business No Fee Mastercard

The Servus Business No Fee Mastercard is best known for its low interest rates, but there are a couple of other nice benefits to note.

1. Low interest rates

If your business has a balance, the Servus Business No Fee Mastercard is a steal of a deal with a low purchase interest rate of 16.99%. This is a bit lower than the average credit card interest of around 20% and can save your business money on interest charges.

2. Insurance galore

The Servus Business No Fee Mastercard will also grant you 8 types of insurance coverage, including double the extended warranty (2 years) compared to most standard credit cards. You'll also get high coverage amounts on numerous travel insurance categories, giving you peace of mind on any business trip.

3. No annual fee

If you're just starting out or your business is a small one with few expenses, you'll be glad to know that the Servus Business No Fee Mastercard is a business credit card with no annual fee.

Cons of the Servus Business No Fee Mastercard

There are a few areas where this card falls short.

1. No rewards on purchases

Most credit cards offer some kind of rewards on purchases. And when you consider that this card has some travel insurance coverage, it's disappointing that it doesn't offer any rewards at all.

2. Not available outside of Alberta

The Servus Business No Fee Mastercard is out of reach for a lot of Canadians because it's only available to businesses based in Alberta. You must also be a resident of the province.

3. Must apply in person

You can inquire about the card online but to apply for one, you'll need to go into a Servus branch. Bring your ID and employment information or proof of enrollment (for students).

You will also need your corporate documents, including:

• Declaration of the trade name filed with the Alberta Registries
• Articles of incorporation
• Notice of assessment for both personal and business (last 2 years required)
• Business financial statements
• Personal net worth statement

Comparison to another no fee business credit card

We'll compare the Servus Business No Fee Mastercard to a popular no fee business card, the BMO AIR MILES No-Fee Business Mastercard.

We’ll be honest: this isn’t a fair comparison because the cards are intended for different audiences. But nonetheless, you can see the difference in where these cards excel. The BMO AIR MILES No-Fee Business Mastercard will give you rewards on your spending and earn you a lot more, while the Servus Business No Fee Mastercard will save you more if you anticipate carrying a balance.

Does your business have the Servus Business No Fee Mastercard?

You'll get a nice insurance package and a helpful low purchase interest rate with the Servus Business No Fee Mastercard.

Have you been able to make the most of this card with your business? Let us know your thoughts by leaving a review below.

FAQ

Does the Servus Business No Fee Mastercard earn rewards on purchases?

No, the Servus Business No Fee Mastercard does not earn any rewards. The main feature of this card is its lower interest rate and no annual fee.

Are there any eligibility requirements for the Servus Business No Fee Mastercard?

There are no income requirements for the Servus Business No Fee Mastercard, but your business must be registered in Alberta and you'll need to bring all the associated documentation when applying.

What is the purchase interest rate for the Servus Business No Fee Mastercard?

On purchases, you'll pay 16.99% interest compared to the Canadian average of around 20%.