Learn 7 Little-Known Perks of Business Credit Cards
A virtual credit card is created with its card number, expiration date, and security code. Transactions will be processed as usual and credited to your credit card account. Given the prevalence of credit card fraud, virtual cards are an excellent way to make transactions without disclosing your actual card number.
This is beneficial to anybody, but it is especially helpful to business owners. If you and your staff use your business card account regularly, it can be a tremendous nuisance if the card number is stolen and you need to get a replacement.
6. Flexible spending power
There are exceptions to the rule that most company credit cards have a credit limit. Some of these cards do not have a predetermined spending limit and instead use a more flexible approach.
The amount you can spend with these cards is flexible and determined by your purchasing patterns and credit history. This is typically provided through pay-in-full cards. As the name implies, these cards require you to pay in full each month, so you cannot carry debt. If you are okay with that and your primary concern has enough credit for significant purchases, a card with no predetermined spending limit is a good choice.
7. Elevated rewards on large purchases
One of the most prevalent business card benefits is rewards. If you pay with a rewards card, you will receive cash back, points, or miles on your purchases. A modest number of business cards receive even more incentives on large ticket purchases. For example, a few high-end business cards offer an additional 0.5% back on sales of $5,000 or more.
If your company routinely makes significant purchases, a card with this feature could help you optimize your benefits. The benefits of each company credit card differ. Consider more than just the initial few benefits when comparing business credit cards. Little-known bonuses can also be valuable, so it’s worth investigating what more these cards offer.
