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Help and FAQ

Q: What are some of the other advantages associated with business credit cards?
Ans: Some cards offer cash rebates, gas rebates, discounts on travel and accommodations expenses, competitive annual percentage rates, as well as discounts on shipping or printing expenses. Low introductory rates, another attractive feature of some business credit cards, may vary in length, but are usually anywhere from 90 days to a year.
Q: What are 0% balance transfer rates and why are they beneficial for businesses?
Ans: Some companies provide cardholders the opportunity to transfer balances from other credit cards without incurring any extra fees or finance charges. This is helpful for consolidating higher payments that may be mostly interest charges into one lower monthly bill. However, one common mistake is transferring accounts too often, opening different cards to take advantage of a 0% APR (annual percentage rate), which actually lowers a credit rating over the long term.
Q: How would a business credit card help a company keep track of employee spending?
Ans: Most business credit card accounts offer the opportunity to request “employee” cards which can be set with individual spending limits and extensive reporting features, making keeping track of employee expenses a matter of reading the monthly statement. This is also beneficial to businesses who want to keep track of spending by department, making budgeting and ordering supplies easier and more efficient.
Q: What are affiliate rewards?
Ans: Some credit card companies have paired up with other merchants to offer spending rewards so that cardholders receive various – sometimes substantial discounts – for purchasing the same supplies and services they are already buying for their business.
Q: What are "rewards points" that are often touted by credit cards geared toward businesses?
Ans: Rewards points are an incentive program used by some credit card companies that generally offer one point per every dollar spent using the account. These points then accumulate and can be used for making purchases, or redeeming for perks such as travel miles, hotel stays, entertainment or gift cards for major retailers.
Q: Do business credit cards offer grace periods similar to personal credit cards?
Ans: Depending on the individual company, some accounts must be paid in full at the end of every billing period to avoid accruing finance charges, while others offer grace periods up to 30 days before charges will be assessed. Read the terms and conditions on each card application to make sure the grace period on that card is appropriate for your needs.
Q: What type of interest rates usually accompany business credit cards?
Ans: Depending on the card and type of account, business credit cards may offer interest-free periods, which are particularly beneficial to smaller companies or to those who are just starting out without much capital. Likewise, some companies rely entirely on business credit cards to cover all start-up costs, which makes interest rates an important consideration when trying to decide which would be best for your own venture.
Q: Do most credit card companies offer rewards only to larger businesses or corporations?
Ans: No, depending on the card, there are different types of rewards and incentive to be had for businesses of all sizes. However, some rewards are strictly based on spending; therefore a larger entity would earn more simply by using the account more frequently, or for more expensive purchases than a smaller business might need.