Hello Alice Launches Small Business Credit Card

Hello Alice, a free platform launched to help small businesses grow while also promoting inclusivity, has introduced its latest offering: the Hello Alice Small Business Mastercard. In addition to providing entrepreneurs with expert business advice and insights, this new card will also enable small business owners to earn cash back on their purchases.

First, the Hello Alice Small Business Mastercard earns 4 points per dollar spent on eligible wireless telephone services and business software purchases. Plus, cardholders can earn 3x on eligible office supplies & shipping purchases, 2x on eligible rideshare & restaurant purchases, and 1.5x points on all other purchases. The card carries no annual fee and is issued by First National Bank of Omaha (FNBO).

As a welcome bonus, new cardholders can earn a $50 statement credit after they spend $1,000 on the card within their first three billing cycles. Additionally, the Hello Alice Small Business card will offer a 0% introduction APR. This will apply to purchases and balance transfers made during the first six billing cycles after account opening. Customers can also earn bonus points by engaging with the Hello Alice platform. For example, business owners can add 150 points to their balance when they update their profile, 100 points when they log into their account three days in a row, and another 100 points when they complete a Milestone on Hello Alice.

In addition to the regular rewards card, Hello Alice is also offering a credit-building version. Business owners who have limited or poor credit can open a secured card that still has all of the same benefits. Then, in as little as 12 months, they may be able to move to the unsecured version.

Announcing the new card and explaining the idea behind it, Hello Alice co-founders Elizabeth Gore and Carolyn Rodz said, “We designed the Hello Alice Small Business Mastercard to meet the needs of small business owners where they are, breaking longstanding barriers to mentorship, access to credit, and overall financial health for those who have traditionally been denied access.” They continued, “In times of economic boom and bust, access to capital remains the leading challenge for all small business owners, and particularly for New Majority owners, which is why we continue to focus our efforts on expanding the capital continuum beyond our existing grants and loans programs.”

Mastercard’s president for North America Linda Kirkpatrick also remarked on the product, stating, “Small businesses are the backbone of our communities, yet too often face significant obstacles in securing the resources they deserve, particularly if the owners come from underserved communities. The launch of the Hello Alice Small Business Mastercard is an important step in our mission to build a more inclusive digital economy by providing small businesses with the financial tools and capital they need to thrive, while also advancing our half-billion-dollar commitment to help close the racial wealth and opportunity gap for Black communities.”

Overall, the Hello Alice Small Business Mastercard sounds as though it could definitely be beneficial to small business owners. What’s more, true to their mission of inclusivity, the option to have a secured card that retains all of the same benefits as the unsecured version is inspired. Those interested in this card and the Hello Alice platform can find more information on their website.

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Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

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