Staples Business More Account Credit Card Review

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Business-oriented store-specific credit cards are few and far between, but the Staples® Business More Account™ Credit Card falls right into that category. This Staples business credit card (co-offered through Citibank) is a glorified store card that dishes out rewards on store purchases and is only usable at Staples.

A lack of purchasing options isn’t necessarily bad, however. To start, Staples bundles this card with a tantalizing rewards rate. On top of that, you’ll be able to defer interest on big-ticket items. Beyond those benefits, eligible online orders may qualify for free next-day delivery.

These features are definitely great for businesses that frequent Staples for office supply purchases. Of course, if you’re looking for a card that goes beyond helping you save at Staples, you may want to look elsewhere for your business’s next credit card. It’s also worth noting that a couple of the features mentioned above are available by signing up for Staples’ free rewards program — no special credit card needed.

We’ve broken down the Staples Business More Account Credit Card below. Read on through for the full details.

Staples Business Credit Card At A Glance

Eligibility

You’ll need a fair credit score or higher to qualify for this card. In most cases, this means your credit score should be at least 580.

Don’t know your credit score? We’ve compiled a list of our favorite (and free!) credit-checking sites.

You’ll also need to be a US-based business that shops at US-located Staples stores. The rewards program does not work for non-domestic Staples locations, so you may want to keep that in mind if you frequently shop at Staples while traveling abroad.

Rewards For Spending

When you spend at Staples using a More Account Credit Card, you receive some hefty rewards. However, be warned — this card won’t pick up rewards at merchants beyond Staples.

Get $50 Off First Staples Purchase Above $150

This credit card comes with what is effectively a minimalist welcome offer. You’ll collect $50 off your first Staples purchase of $150 or more made within 45 days of opening your account. This reward will appear as a credit on your Staples account statement.

Currently, this offer is eligible through March 31, 2020.

5% Cash Back On Staples Purchases

The base rewards scheme for the Staples Business More Account Credit Card is straightforward: You get 5% cash back on every eligible Staples purchase, both in-store and online. However, there are no additional bonuses for purchases made elsewhere. In fact, because this is not a Visa or Mastercard, you can’t even make universal purchases; instead, you can only use the card when buying from Staples.

Regardless, 5% back is a very solid rate when it comes to credit card rewards. With that in mind, this card could be enticing for businesses that make frequent office supply purchases through Staples.

Rewards will be issued to your account in $5 increments every month. If you fail to meet the $5 threshold, the unissued rewards will roll over to the next calendar quarter. If you fail to make an eligible purchase during that next calendar quarter, the unissued rewards will expire.

Earn Staples Rewards Without A Credit Card

Cash back is also a part of Staples Rewards, the company’s free rewards programs that you can sign up for online. The only advantage to the More Account Credit Card when it comes to cash back is that you will automatically be entered into the Staples Rewards Premier bracket. It automatically gives you 5% cash back instead of the reward program’s base rate of 2%. If you don’t have the credit card, you’ll need to spend $1,000 or more at Staples over a 12-month period to reach Premier status.

Redeeming Rewards

There’s nothing exciting when it comes to redeeming rewards earned with the Staples Business More Account Credit Card. Because this credit card can only be used for Staples purchases, you can only redeem your rewards when buying from Staples.

Apply Rewards Towards Staples Purchases

Rewards are redeemable on eligible Staples purchases in-store, online at staples.com (with a minimum purchase of $100 or more), and over the phone. Unused rewards expire at the end of the month after they were issued, so plan to keep tabs on when you should use them.

Ignoring the fact that you can only use this card (and its rewards) at Staples, it is especially egregious that the card’s rewards expire. Many cash back credit cards on the market today offer rewards that don’t expire or that have a long expiration period. Of course, if you are consistently using this card and redeeming your rewards, you won’t have to worry much about expiration dates.

Card Benefits

Don’t expect many in-depth benefits with the More Account Credit Card. That said, there are a couple of perks bundled in that can help save you money when shopping at Staples.

Free Next-Day Delivery

You can take advantage of free next-day delivery when you make eligible online purchases. Your order will need to be over $35 and made before 5 PM local time to qualify. It’s worth a mention that this feature excludes weekends and holidays.

Note that this feature is also part of Staples’ free rewards program, so you don’t expressly need the credit card to take advantage of free next-day delivery.

Staples Savings

With your More Account Credit Card, you will be eligible to receive savings on a few select services:

• $2 back for each ink cartridge recycled (up to $20 per month)
• $25 off print and marketing services annually
• $20 off tech diagnostic services annually

As with free next-day delivery, these savings are available through Staples’ free rewards program. However, all three savings categories listed above are limited to the Premier bracket of the rewards program. This means that if you want to take advantage of them with only a rewards account (and without the More Account Credit Card), you’ll need to spend $1,000 or more at Staples over a 12-month period.

Limited Other Benefits

Because this card isn’t a Visa or Mastercard, it lacks many standard credit card features. However, you’ll still be able to manage your account online, request additional cards, set user spending limits, and edit billing options. You can further choose to pay off your balance every month or opt to carry a balance. Otherwise, this card doesn’t include the usual range of credit card bonuses, such as extended warranty coverage or purchase protection.

Rates & Fees

The Staples Business More Account Credit Card features a solid APR range along with minimal fees.

Reasonable APR

For APR on purchases, you’ll be paying based on your creditworthiness. All things considered, this range isn’t bad for a credit card’s interest rate. Of course, as long as you pay off your balance each period, the APR won’t come into play. Plus, there’s a way to avoid paying interest for a set number of months — take a peek directly below.

Avoid Interest With Deferred Financing

With the More Account Credit Card, Staples offers a deferred financing plan that delays paying interest on large purchases. If you make a purchase of $299 or more, you’ll get six months before you start paying interest. Purchases of $499 or above get 12 months, and those of $799 or above get 18 months. Deferred financing can be an especially handy feature if you’re planning on making a large Staples purchase soon.

Do note that if you fail to pay the balance in full by the end of your qualifying deferred interest period, you will be charged interest from the date of purchase.

Deferred financing is the biggest reason to choose this card over simply using Staples’ free rewards program. Just having a rewards account with Staples won’t give you access to deferred financing (even if you’re eligible for the Premier bracket). That means you’ll need the card if you’re planning a large Staples purchase and require extra time to pay it off without interest.

No Annual Fee

It’s always a plus when a credit card doesn’t require an annual fee. The Staples Business More Account card manages to achieve just that — you don’t have to worry about spending enough to justify paying for the card annually.

Other Fees

For standard fees, there is a minimum financing charge of $2. Additionally, late fees are $15 on balances of up to $100, $29 on balances between $100 and $250, and $39 on balances of $250 and over. Because this card doesn’t allow purchases outside of US-located Staples stores, you won’t have to worry about balance transfer or foreign transaction fees — those activities aren’t possible with this card.

Is The Staples Business Credit Card Right For You?

Simply put, the Staples Business More Account Credit Card won’t be for everyone. Because the card can’t be used beyond the shadow of a Staples store, it won’t work for businesses that don’t frequent the office supply store. However, it could be a perfect option for businesses that do shop at Staples. Between 5% cash back on Staples purchases, deferred financing, and free next-day shipping, this card should make for an excellent addition to your wallet if your business gets most of its office supplies from the retailer.

You might want to apply if…

• You make frequent purchases at Staples
• You can use this as a secondary credit card solely for office supply purchases
• You’re planning to make a large Staples purchase and want deferred financing

You might want to look for a different card if…

• You rarely or never shop at Staples
• You can get by with the free Staples Rewards program
• You don’t need deferred financing
• You want a credit card that can make purchases at other retailers besides Staples
• You’d prefer a card that incorporates such features as an extended warranty or travel protection

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