Small business credit card:
The current small business credit card that I have is soon ceasing its credit card operation. My current card allows me to have an individual credit card for my employees with a credit limit that I can set for each card, as well as a cash back rewards program. Anyone have or know of a similar type of credit card out there?
Replies
Discover has a business card and it and you can check it online and see what employees charged what.
Don't have any idea about how they handle t he limits.
William the Geezer, the sequel to Billy the Kid - Shoe
Almost any card co can set you up with a similar except for the cash back part. Rewards points more common.
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Don't go with Advanta. I have excellent credit and they raised my interest rate from 7.99 percent to 29 percent only because they could. I switched to Capitol One and recorded the sign up conversation on the phone where the guy who signed me up promised they would not raise my rate as long as I remained in good standing. So far so good...
Constructing in metric...
every inch of the way.
Advanta did that to us too. We paid them off immediately. Then, I decided to start using their card and paying it off every month. They cancelled our card LOL!
Advanta credit cards are going out of business!!!!!
Advanta did that to me as well. It took three attempts to cancel the card. The guy on the other end could not understand why.
Bruce
Don't worry, Advanta is going out of business now!!
There was a letter to the editor in a recent JLC about Advanta's antics. I was surprised and extremely impressed that JLC chose to print the letter from a very disgruntled former card user considering how Advanta always had a one or two page ad in JLC.Constructing in metric...
every inch of the way.
Maybe they knew ahead of time that they weren't going to be getting any further ads...
Mine is Citicard Corporate. Used to have an American Express corporate card.
My Kodak corporate card is a citi purchasing mastercard. I like the way their website works. The purchases are itemized and tracked. I have no clue about anything else about the card.
2 people in the last week told me about the Costco business card. large rewards
US bank has Visa cards with most of those features, certainly the employee cards, as well as online access to the account so you can see in real time the activity of the cards.
In addition to my credit card, I have an ATM card on my checking account that pays a spiff for using it as credit instead of debit. Online banking and bill pay are free services.
Thanks for every ones input. It is always appreciated.I was listening to NPR wile driving home from work yesterday, and they were talking about the credit card reform bill that is before congress. Unrelated to the bill but part of the discussion was a comment that was made. One of the arguments by the card companies against credit card reform is that people with good credit (i.e. Those of us who pay the bill off each month and don't rack up interest and late fee charges) may have a hard time getting a credit card. The card companies say that they won't make as much money from those who don't pay off their card to supplement the cost of maintaining the accounts of those who do.Go figure. It seems like discrimination to me. Be responsible and you still get screwed. I'll keep looking, but I may have to go to one that charges a fee.
"The card companies say that they won't make as much money from those who don't pay off their card "
They have been whining about everything since they have been in the crosshairs.
I especially loved this one "If this legislation is passed, we might have to raise interest rates...."
What???!!! isn't 35% high enough?
If we charged those rates, we'd be jailed. This in nothing more than a good old boys fleecing of those that can least afford it. The lawmakers should be ashamed of themselves but they are taking too much campaign funds from these guys.
Just got a letter in the mail from advanta today. Advanta accounts go dead May 30.Steve
Advanta is DOA!!!Dear Customer,
Effective May 30th all Advanta Business Credit Card accounts, including your account, will be closed. This is because Advanta Business Card accounts are generally funded by an independent trust which owns the balances owed on the accounts and provides funding for new transactions and we expect the trust to stop funding activity on our accounts. The trust also restricts our flexibility to fund account activity.This means that you will not be able to use your card or account for new transactions, including purchases, checks and balance transfers beginning on May 30th. We understand that you may have written checks on your account before May 30th and we will make every effort to honor those checks that are presented to us for payment by June 3rd. If you use your Advanta card to make automatic recurring bill payments, you will need to make alternative arrangements for those payments promptly. It is important to understand that you are not required to pay your entire balance at this time. You may continue to pay down your account balance over time, as allowed under your Advanta Business Card Agreement. We have also reduced the credit line on your account to the amount of your current outstanding balance plus $500 effective immediately. We will send you additional information about why we have taken this action in another letter.You will not lose the rewards that you have earned. If you participate in a Cash Back program, you will receive a check for the amount of any accrued rewards more than $1.00 as long as you make the required minimum payments and your account remains in good standing. If you participate in a Business Rewards program, you will have at least 60 days to redeem your points as long as you make the required minimum payments and your account remains in good standing.We deeply regret the impact this action will have on your business and very much wish it was not necessary. Constructing in metric...
every inch of the way.
Don't know if this has been posted but...
apparently cards issued in the name of your business do not have protections included in the new credit card bill. You are not subject to the instant rate hikes and more importantly you are liable for unlimited liability on fraudulent charges
apparently business cc come under UCC law and not Common law
different rules
so get a personal CC and reimburse yourself from your business account
http://clarkhoward.com/liveweb/shownotes/2009/05/01/15665/