Business credit cards can be classified into two uses: for small business and for corporate use. Small business credit cards allow you to get rewards points, rebates or both on office supply purchases, phone service expenses or even on the restaurant expenses of your employees. Reward points vary from travel miles to hotel accommodations. Corporate business credit cards allow generous rebates on bulk or wholesale purchases usually on fuel and fleet maintenance.
Take a look at our brief preview on how a few sample corporate business credit cards work. We have over 30 selections of both corporate and small business credit cards. If you like what you see, you can dig deeper into our best small business credit cards.
Chevron and Texaco Universal Business MasterCard:
Businesses operate in different ways, so choosing the right credit card for your business is paramount. The Chevron and Texaco Universal MasterCard can be a good tool for medium sized and larger companies that require large amounts of fuel to operate. Don’t be misled by the card’s name. It can be used at any fueling station that accepts Master Card. However, there are rebates when the card is used at Chevron and Texaco outlets.
What makes the Universal Business card attractive to larger companies with a large number of vehicles is that it can be used at over 175,000 fueling places, making logistics less complicated than it could be, if employees using the card were hampered because they had few locations from which to choose.
With this credit card, businesses can set limits for each employee, and control the hours during which the can be used. This makes keeping track of spending much simpler and allows companies to monitor card use, to ensure that it is being used for business purposes. Employees ID numbers can be included on all transactions—another means of monitoring card usage. Lost cards can be immediately voided and requests for new cards can be made online.
Another reason this card appeals to larger companies is that monthly and annual fees are waived when a company buys 1,001 gallons or more of fuel each month.
The Universal Premium FleetCard MasterCard:
The Universal Premium FleetCard MasterCard was designed for use by businesses with a fleet of vehicles essential to the survival of the company. The high cost of fuel makes cards such as this all the more important in this current economy.
The FleetCard MasterCard is accepted at almost 160,000 fuel stations across the United States, meaning that your vehicles will never have to search for a fueling station that accepts the credit card. Of course, keeping a fleet of work vehicles on the road requires more than fuel. Machines break down. The FleetCard can be used to pay for repairs and maintenance in over 400,000 locations in the United States. With this card, customers are kept abreast of the most cost efficient locations to make purchases. Businesses can choose to sign on for a roadside assistance option, as well.
Cost-saving volume rebates can earn companies 3 cents off each gallon of fuel. Another 3 cents per gallon can be earned as part of the Fuelman Discount Network. These savings can be substantial, regardless of the size of your fleet, but the larger the fleet the more the savings.
This credit card is designed so that employees have personal cards that are easily identified as theirs. The card also has an option so that its usage is limited to the particular variety of vehicles that your company uses. This helps to reduce fraud. Along the same lines, the cards can prevent usage at undesired locations that are not within the realm of your business purchases. The card can also be set up for use at fueling stations that meet your company’s requirements.
Another time saving feature associated with this card is that all information regarding employees’ expenses is outlined and detailed in one location. You can download information regarding fuel use, purchases, and maintenance records. And you have access to this information via your computer.
BP Business Solutions MasterCard:
The quality of a credit card has much to do with how widely it is accepted. The BP Business Solutions MasterCard can be used at more than 175,000 locations throughout the United States. While the card can be used at many different stations, when it is used at BP stations your company earns rebates. These savings can be as much as 4.5 cents on each gallon of fuel.
The card can be set with specific restrictions, to help your company monitor and regulate its use. Your business will also have access to all information regarding the use of the card, making it easy to generate reports and records for accounting. You will always have access to card records via a secure online source.
A good business credit card saves your business money and makes operating more convenient and more secure.
With our three sample corporate credit cards, you get an idea on how the big companies work so you can run your new business better. Several credit cards are available for new small businesses. The basic principle with these credit cards is that bulk purchases save money and formalized expense reports for several employees keep you right on track.