Posts Tagged ‘discover business credit card’

Many credit card companies have created card varieties that will perfectly match the requirements of different businesses, from small-scale businesses to corporations and enterprises. Some of those offered are secured business credit cards and others are classified under as unsecured.

In support of small businesses, major credit card companies have created several versions of credit cards. Listed below are those offered by Visa, MasterCard, American Express and Discover. It is highly recommended to check on the details of the business credit cards from their official website or in person through their bank partners. This will help you understand their necessary requirements and steps for small business credit card processing.

Discover Business Credit Card

The Discover business credit card offers rewards program that entices business owners to avail of. This include cash back bonus and different types of rewards. Other benefits are:

• Free employee cards with customizable spending limits and monthly reports
• Categorized online quarterly and annual statements
• The most complete set of free travel benefits offered by any no-annual fee card
• Live phone support within 60 seconds, guaranteed
• Easy online account servicing—review charges, pay bills, redeem rewards, and download statements into QuickBooks®

MasterCard Business Solutions for Small Business

MasterCard classifies small business as those companies that generate revenues under $10 million annually. Under this category, there are cards that are designed for a specific purpose. You need to read through their features to find the right credit card that meets your business needs.

Other MasterCard Business Credit Cards include:

• MasterCard BusinessCard® Card – Superior cash management, with extensive business and travel services.
• Debit MasterCard BusinessCard® Card – A step beyond checks.
• World MasterCard® for Business – Delivers premium rewards and high-performance spending power designed for high-speed businesses.
• MasterCard® Small Business Multi Card – Consolidate all your business expenses onto a single payment platform.
• MasterCard Prepaid Card Solutions – A suite of targeted solutions designed to help better manage a variety of employee payment programs.
• MasterCard BusinessCard® for Construction – Manage your business more profitably with a card built for the people who build for a living.

There is an ongoing promotion sponsored by MasterCard called “Fall Small Business Promotion”.

Every time you use your MasterCard® small business card from September 1 through October 31, 2009, you’ll be automatically entered for a chance to win.

To receive double entries, register your eligible card in the MasterCard® Easy Savings™ Program. There is no fee to register. And if you’re already an Easy Savings participant, you will receive double entires with each purchase. For details about the Program and to register, visit easysavings.com.

Visa Business Credit Card

Visa offers a variety of card that you can use to support your business, and these are listed below. Each has its own features, which you can read through visiting their official website.

• Visa Business Credit Card
• Visa Signature Business Card
• Visa Business Debit Card
• Visa Business Line of Credit
• Visa Gift Card-Bulk
• Visa Incentive Card

Some banks that offer Visa Business Credit Cards are as follows:

• Amegy Bank
• Bank of America
• Barclaycard US, Barclays, Barclays Bank Delaware, Juniper
• BB&T Bank
• Capital One
• Chase
• Citibank (South Dakota) , N.A.
• Comerica Bank
• Fifth Third Bank
• First Equity Card Corporation
• First National Bank of Omaha
• M&I Bank
• National City
• Pelican State Credit Union
• Regions Bank
• SunTrust
• TD Bank
• Tri Counties Bank
• U.S. Bank
• UMB Financial
• Wachovia Business Banking Center
• Wells Fargo Bank

American Express Business

The small business credit card program offered by American Express is called the American Express OPEN. It provides the resources that can help you run your business, including financing, savings, online management, and support from experts and other small business owners.

Amex Business Credit Cards include:

• Gold Delta SkyMiles Business Credit Card – allows you to earn up to 25,000 bonus miles, and2 miles for every eligible dollar spent on qualifying Delta and Northwest flights
• Starwood Preferred Guest Business Credit Card – lets you earn 10,000 Starpoints® with your first purchase
• The Plum Card – Get trade terms on virtually everything you purchase

A business credit card is a type of credit card specially crafted for businesses. In general, the allowable loans from such credit cards are higher compared to a personal one and the rates fit that of a business. Depending on the credit card provider, there are different kinds of that fits any type of business – from small-scale and mid-sized businesses to corporations and enterprises.

Types of Business Credit Card

There are generally two types of business credit card – the secured business credit card and the unsecured business credit card. The term secured is taken from the credit card provider’s perspective and not from the cardholder.

The difference between a secured and an unsecured business credit card is that the former usually requires collateral like a real estate property, a business or shares in businesses. The latter doesn’t need any of those when borrowing money or applying for a loan. Given this nature, most credit card companies only issues secured business credit card especially to those who don’t have any credit profile or those that have bad credit standing.

In most cases, businesses usually start using secured business credit cards. Once a positive credit profile is established, such businesses move from a secured to an unsecured card at some point in time.

Benefits of a Secured Business Card

Despite the need for collateral, a secured business credit card has its own benefits. Usually, credit cards under this category have low interest rates primarily because its purpose is for businesses and it is secured by an asset from the card holder. Business transactions benefit heavily on this because the credit limit imposed in business credit cards are generally higher. This gives opportunities for high-valued purchases, support for business travels and other quick payments that will the operations of the business.

Things to Check

Prior to applying for a secured business credit card, you need to prepare collateral. This is typically a requirement of most credit card companies. Samples include real estate properties, business shares or the business itself and other similar ones.

You also have to check on the fees and annual percentage rates (APR) of each of the credit card companies that you want to avail of. Include in your research the rewards, incentives and perks offered by the said credit cards. These information are generally available in the company’s website and other media. You can also visit the offices physically to have first-hand information regarding the product. A comparison among all of these will help you choose which one best fits your requirements.

Where to Avail of Secured Business Credit Cards?
You can visit the sites of some credit card providers below for more details on how to avail of their business credit cards.

Discover Business Cards

Discover offers perks for Small Business:

• Free employee cards with customizable spending limits and monthly reports
• Categorized online quarterly and annual statements
• The most complete set of free travel benefits offered by any no-annual fee card

Visa Business Credit Cards

• Visa Business cards are offered by the following Visa partners:
• Amegy Bank
• Bank of America
• Barclaycard US, Barclays, Barclays Bank Delaware, Juniper
• BB&T Bank
• Capital One
• Chase
• Citibank (South Dakota) , N.A.
• Comerica Bank
• Fifth Third Bank
• First Equity Card Corporation
• First National Bank of Omaha
• M&I Bank
• National City
• Pelican State Credit Union
• Regions Bank
• SunTrust
• TD Bank
• Tri Counties Bank
• U.S. Bank
• UMB Financial
• Wachovia Business Banking Center
• Wells Fargo Bank

MasterCard Business Credit Card
Offers different types of credit cards for small businesses, mid-sized companies, corporations and public sector.

American Express Business Credit Card
Has credit cards that suits personal, small-scale business and corporate needs.