Corporate Credit Card – A Business Advantage

Corporate credit card is a great advantage for many growing businesses.

 

Instant Approval Business Credit Card

corporate credit card programs

How to Get a Corporate Credit Card

With this card, the company will have the ability to control and monitor their :

  1. Business Travels,
  2. Company Related Entertainment and
  3. Other Corporate Expenses.

It is common to big business owners to have difficulties in tracking their business expenses by only using personal credit card.

With a separate card for sole use in business expenditures, the company will be able to avoid the confusion in identifying and recording expenses.

Moreover, credit card for corporate use provides ease in regular procurement of goods as well as availing services faster through simple payment facilitation.


Basic Features of Corporate Credit Cards

Corporate Credit Card - Corporate ToolMost card companies offer corporate cards through custom-made options, and have distinct features tailored for corporate needs.

  • Interest rates of corporate card are ranging from 12-percent up to 29-percent.These rates are higher comparing with small business credit cards, and the rationale is on the high credit limit.
  • The credit limit reaches from $50,000 up to even a million.It is a fact that corporations tend to expand their operations that usually demand rising of credit limit.
  • The related annual fee is low.
  • Corporate credit card is payable on a bi-monthly, monthly or quarterly basis.

Advantages of Corporate Credit Cards

Utilizing credit card for business purposes bring various advantages to the owners.

  • The card can be used locally and abroad.
  • Easily segregates between personal accounts from business expenses.
  • The corporate card is useful in monitoring company related expenses by using the monthly statement provided by the credit card companies.
  • The card is capable of transferring cash balance from one credit account to another.
  • The card reduces the need of carrying big amount of cash during travel, and handle entertainment representation to clients conveniently.
  • The accounting and auditing of expense become an easy task.
  • Use of corporate card comes with rich rewards that can be applied by the company in their travels, hotel accommodations as well as discounts on purchases.

Steps in Applying for Corporate Credit Cards

Corporte Credit Card - Application

Apply For A Corporate Credit Card.

  1. Make a comparison of all the cards being offered, and settle for the best possible deals with regard to credit terms, interest rates and other key elements of a good corporate credit card.
  2. The company should decide on the manner of applying whether be through phone call, or personal application.Most applicants preferred to apply online by filling up an application form.
  3. Be ready with the basic business information to complete credit card application such as
    • corporate name,
    • business address,
    • annual income and
    • starting date.

    Other information would include

    • contact numbers,
    • industry type,
    • tax identification number and
    • names of the possible personnel who will be using credit cards as well.
  4. Fill-out all the necessary fields in the application form carefully.
  5. When the application is finally submitted, take time to wait for the approval of the credit card company.

If the company is new or is in the process of corporate growth, managing business expenses related to procurement, payment, and recording will be easier with the use of corporate credit card.