corporate card account

This is What You Need to Know About Business Charge Cards

So, you’re thinking about whether or not you might need a business charge card. Well, you’ve landed in the right place. Here, we’ll explore what it is, why you might need one, and see a list of charge cards that offer the best business features and perks. You’ll also find answers to some of the most common questions I hear.

This is what’s in store.

What is a Business Charge Card?
- Business Charge Card vs Credit Card
- Are Charge Cards Good for Business?
Best Business Charge Cards for Startups
Frequently Asked Questions
Conclusion

Now, let’s get to it!

What is a Business Charge Card?

A business charge card, also known as a corporate card, is a payment card issued to a business rather than an individual. Here’s what you need to know:

It’s used for business-related expenses like travel, supplies, or client entertainment.
Unlike credit cards, you’re typically required to pay off the balance in full each month.
Many business charge cards offer perks like rewards programs, expense management tools, and employee spending controls.
They can help track expenses, simplify accounting, and provide businesses with financial flexibility.
Businesses of various sizes, from small startups to large corporations, use these cards.

Overall, a business charge card can be a handy tool to manage business expenses and cash flow.

You might also like: 7 Best Cash Back Corporate Credit Cards to Explore

Business Charge Card vs Credit Card

Here’s a comparison between a business charge card and a business credit card.

Business Charge Card

Business Credit Card

Typically, you’re required to pay off the balance in full each month.Since you’re expected to pay in full, there are usually no interest charges.Often used for business expenses where immediate payment is expected.Some charge cards have no pre-set spending limits.Annual fees can be higher than credit cards, but often come with premium benefits.Many offer rewards programs and perks tailored to business needs.Often equipped with tools for expense tracking and management.

You can carry a balance from month to month, with interest charges applied to the outstanding balance.Typically has a pre-set spending limit based on creditworthiness.If you carry a balance, interest charges will apply to the remaining amount.Annual fees vary depending on the card, and may be lower than charge cards.Offer rewards programs similar to personal credit cards, often with options for cash back, points, or travel rewards.Some credit cards offer expense tracking tools, but they’re not typically as robust as charge cards.

In essence, a business charge card requires full payment each month with potentially higher annual fees but often comes with premium benefits. Meanwhile, a business credit card offers more flexibility with revolving payment terms and typically lower annual fees, but may incur interest charges if you carry a balance.

You might also like: Corporate vs Business Credit Card: What’s the Difference?

Are Charge Cards Good for Business?

Charge cards can be beneficial for businesses, but whether they’re a good fit depends on various factors. So, why do people use a charge card?

Here’s how they can be useful:

With the requirement to pay off the balance in full each month, charge cards promote responsible spending habits and help prevent debt accumulation—This can lead to better expense management and financial discipline within your business.
Since charge cards dictate that you pay the balance in full, there are typically no interest charges—This can save money in the long run compared to credit cards where interest can accrue on carried balances.
Many charge cards offer rewards programs tailored to business needs, such as:
- Cash back on business-related purchases
- Travel rewards
- Discounts on business services.

These perks can provide additional value to your business.

Charge cards often come with robust expense tracking and management tools, helping you keep better track of business spending, categorize expenses, and simplify accounting processes.

However, there are also some potential drawbacks to think about:

Charge cards may come with higher annual fees compared to credit cards, especially those that offer premium benefits and rewards programs. Depending on your spending habits and the value derived from these perks, the annual fee may or may not justify the expense.
While charge cards are widely accepted, there may be instances where certain vendors or suppliers do not accept them—This can pose challenges if you rely heavily on vendors who prefer credit cards or other forms of payment.
Since charge cards require paying the balance in full each month, they may pose cash flow constraints if you have irregular income or seasonal fluctuations. But, you can mitigate this with proper budgeting and cash flow management.

So, charge cards can be useful for businesses that prioritize responsible spending, value expense management tools, and can afford the higher annual fees. However, carefully consider your specific needs, spending habits, and cash flow requirements before you decide if a charge card is the right fit.

You might also like: How to Convert Credit Cards into Cash

Best Business Charge Cards for Startups

When it comes to choosing the best business charge card for startups, several options offer benefits tailored to the needs of new businesses. Here are some top recommendations.

These cards offer a range of benefits suited to the needs of startups, including rewards, expense management tools, flexible payment options, and tailored perks. Consider your business’s spending patterns, priorities, and eligibility criteria when choosing the best option.

1. Amex Business Gold Card

The American Express Business Gold Card offers valuable rewards, earning Membership Rewards points on eligible purchases, with 4X points in two select categories where your business spends the most each billing cycle (up to $150,000 in combined purchases per year).

It features a generous welcome offer in the form of bonus points after meeting spending requirements. The card provides access to tools like Vendor Pay and ReceiptMatch to simplify expense tracking and management.

And, it includes a flexible payment option to carry a balance for eligible charges with interest charges—essentially turning it into a credit card for qualified business operations if that’s what you need.

2. Brex Corporate Card

The Brex corporate card offers a range of advantages tailored to meet new business’ needs. One notable feature is that it doesn’t require a personal guarantee, making it ideal for startups without an established credit history or the need for a security deposit.

Moreover, you can earn points on all purchases, with bonus points available in categories like travel and restaurants. The card comes with intuitive expense management tools, including an easy-to-use dashboard for tracking expenses and gaining real-time visibility into spending.

And, you can enjoy additional benefits such as discounts and credits on various business services, including AWS, Google Ads, and more.

3. Bill Spend & Expense (Divvy) Card

Business charge cards no personal guarantee

The Divvy Spend & Expense card – formerly “Divvy” – offers several benefits tailored to businesses. Firstly, it boasts no annual fee, making it a cost-effective option if you want to manage expenses without incurring additional charges. As a charge card, it also eliminates interest charges, which provides further financial flexibility.

The card comes equipped with robust expense management features, including real-time expense tracking and budgeting tools. You can easily categorize spending, which enables better expense control and analysis. Plus, the card rewards users with points or cash back on all purchases, with bonus rewards available in select categories.

Lastly, the Divvy card simplifies the reimbursement process for employees’ out-of-pocket expenses, which makes it convenient for both employers and staff.

4. Ramp Corporate Card

The Ramp Card offers innovative solutions for businesses seeking better cash flow options.

Positioned as a top choice among alternative corporate cards for startups, Ramp stands out for its:

Rewards program
Expense management tools
Accessibility

With features like unlimited staff cards and smart spending limits, Ramp empowers you with complete control over business expenses—It eliminates various fees and offers a generous 1.5% cash back on spending.

Qualification is straightforward, with no credit checks or founder guarantees required. Compared to other marketplace offers, Ramp offers competitive benefits, which makes it a compelling offer with minimal downsides.

5. The PEX Card

The PEX Card offers a comprehensive corporate expense management solution. With features like prepaid and dynamic credit cards, you can efficiently manage employee spending, vendor payments, and fund distribution.

The platform provides a range of benefits, including 1% cash back on eligible purchases, a user-friendly app for real-time monitoring and authorization, and seamless integrations with accounting systems.

You can distribute both physical and virtual cards, set customizable rules and spending limits, and streamline grant fund distribution for nonprofits. Despite its strengths, consider your specific needs and compare alternatives before you make a decision.

Frequently Asked Questions

What is the point of a charge card?

Charge cards offer a payment method where users pay the full balance each billing cycle to manage expenses while you avoid interest charges and promote responsible spending.

Why would a business issue a charge card to their customers?

Businesses issue charge cards to facilitate transactions while ensuring prompt payment, which can reduce the risk of outstanding debt for both parties.

What is the difference between a charge card and a debit card?

Charge cards require full payment each billing cycle and function like a short-term loan, while debit cards immediately deduct purchases from the cardholder’s bank account without the option to carry a balance.

Conclusion

Business charge cards offer a unique payment solution for companies, promote responsible spending habits, and provide valuable expense management tools—While they require full payment each month and some may come with higher annual fees compared to credit cards, their benefits, including rewards programs and robust expense tracking, can outweigh these considerations.

However, carefully evaluate your company’s needs and financial situation before deciding if a business charge card is the right fit.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Meet the Emburse Card: An Inclusive Cash Back Corporate Card

By Joe

The Emburse card, aka Emburse Spend Card, is a cashback corporate card offered by a business expense management platform. If you use the platform or if you are on the hunt for a corporate card, you may have come across the name. Now, you’re probably wondering if this is a good offer for you.

I’m here to help you decide – let’s explore the Emburse card offer, look at the cash back and other features, and see if it’s what you need. In the meantime, I’ll point you to various other offers you might like as well.

Here’s what’s in store:

What is an Emburse Card?
- Emburse Company Overview
What Benefits Does Emburse Offer?
Frequently Asked Questions
Conclusion

Let’s take the plunge!

What is an Emburse Card?

The Emburse card is a smart and flexible solution for companies (of all sizes) to handle their spending – It comes in virtual and physical forms, making it easy for employees to buy things they need.

What’s cool is that it has some built-in rules to keep spending in check, so you don’t have to worry about staff going over their budgets. Trusted by companies worldwide, the Emburse card doesn’t just help with transactions; it also makes keeping track of expenses super easy.

You can use it with Apple Pay for quick and safe payments. And, the card does a bunch of other helpful things too. For example, it can capture receipts on your phone, set different permissions for users, automatically sort expenses into categories, and protect against fraud.

Plus, through a partnership with Wise, Emburse offers reimbursements on international transfers. Overall, it’s a handy tool for different parts of a company, like the human resources and finance teams.

And here’s a cool bonus – for every dollar you spend, you get 1% back! So, it’s not just a card; it’s a whole system that makes spending money smarter and more rewarding.

Emburse Company Overview

Emburse Inc. is Los Angeles based, but was originally formed in Delaware. Delaware’s Division of Corporations website is a bit of a challenge to navigate, but I was able to see a merger on file (with Chrome River in 2019). The business’ first verified California business registration and the oldest online record of emburse.com are in 2015.

I found out that Emburse went through Y Combinator in 2015, and – according to Crunchbase – they were founded in 2014. So, the company has been around for about a decade now. This is plenty of time to establish trust in the marketplace.

Originally, Emburse’s core offer was prepaid business spend cards with the edge that expense tracking would integrate between multiple software and tools. Since then, they’ve grown to encompass a complete expense management platform. The features have been amplified with multiple travel-related tech acquisitions and feature additions.

So, how big is Emburse? As of 2022 and according to multiple sources, Emburse employs around 1,000 people – they’re a large company. Still, they are privately-held (no sock ticker here), so not as massive as some of the other names you see in the corporate financial world like JP Morgan and

Emburse Inc. is about as legit as it gets, but –according to Glassdoor – their employees aren’t necessarily thrilled to work for them.

On the other hand, over half of their users are pretty satisfied with the platform and features.

From a potential user standpoint, I wouldn’t say I see any major red flags, and that Emburse seems to be a solid offer – no scam signals here.

You might also like: Y Combinator: Fast Track to Success or Waste of Time?

What Benefits Does Emburse Offer?

I want to focus on the Emburse cards and Emburse Spend, but these offers are so closely tied to the overall offer, that I need to point out some of the expense management platform features (this is where you’ll get the most benefit).

So, let’s dive in and look at what you can expect with Emburse.

You might also like: The PEX Card: Is it the Best Corporate Card for Your Business?

1. Low-Risk Free Demo

Emburse extends a low-risk free trial, requiring users to go through sales onboarding for a guided introduction to the platform. While online sign-up isn’t an option (this is very typical with corporate expense management), the sales is designed to provide a firsthand experience of Emburse’s features…while weeding out the users it’s definitely a bad fit for.

You might also like: Amazon Business Prime Credit Card: Full Review +How to Get One

2. Corporate Cash Back (1%)

Emburse offers a flat 1% cashback on all spending, providing a corporate benefit for users. This cashback incentive serves as a potential saving mechanism for businesses, offering a financial perk for routine expenditures. The structure of the cashback program is straightforward, aligning with a practical, results-oriented financial management.

3. Virtual & Physical Card Flexibility

Emburse provides flexibility with both virtual and physical card options, catering to different transaction preferences. This versatility allows users to adapt their payment methods based on the nature of their transactions, which contributes to a pragmatic approach to expense management.

You might also like: 6 Best Fintech Credit Cards to Apply for (Consumer & Business)

4. Real-Time Spend Management & Customizable Rules

Emburse emphasizes real-time visibility into team spending, aiming to facilitate better budget management. The platform positions itself as a tool for instant tracking of transactions, aligning with a need for efficiency in expense monitoring.

The pre-loaded spending rules on Emburse cards are highlighted as a feature, allowing users to customize parameters to match company policies. This customization capability is presented as a practical solution for businesses seeking tailored spending controls.

5. Mobile Receipt Capture & Permissions

Emburse offers mobile receipt capture and reminders as a means to simplify expense tracking. This feature is portrayed as a pragmatic tool, eliminating the need for manual organization and introducing a user-friendly approach to managing receipts.

Recognizing the varying needs for control, Emburse introduces role-based permissions and approval flows. This customization option is a practical means to maintain order in the expense management process.

You might also like: Gusto Review: Let’s Really Evaluate This Famed Payroll Platform

6. Detailed Insights & Reporting

Emburse promotes real-time insights and reports on spending patterns as a tool for informed decision-making. The feature is positioned as a data-driven approach to optimize budgets and enhance spending strategy.

7. Tons of Integrations

Emburse highlights seamless integrations with various tools, emphasizing compatibility with existing workflows. The extensive list of integrations, including popular platforms like Netsuite, Slack, and QuickBooks, is objectively presented as a practical aspect of Emburse’s adaptability to diverse business environments.

You might also like: A Complete Torpago Business Credit Card Review

Frequently Asked Questions

What are the restrictions on the Emburse card?

The restrictions on the Emburse card can be customized by the account administrator. These restrictions may include spending limits, merchant category restrictions, and other parameters to align with your company’s spending policies.

Is Emburse a credit card?

No, Emburse offers both virtual and physical prepaid cards. It is not a traditional credit card. The prepaid nature of the card helps control and manage expenses in real-time, eliminating the need for reimbursement.

Does Emburse have an app?

Yes, the Emburse Spend app is available in the iOS App Store and Google Play. The app is user-friendly and provides convenient access to manage expenses, view transactions, and more.

Will QuickBooks work with the Emburse prepaid card?

While compatibility may depend on specific features or versions of QuickBooks, Emburse prepaid cards are designed to work with various accounting systems, and they do have a Quickbooks integration. It’s recommended to check with Emburse support or QuickBooks for the most accurate information on integration and compatibility.

How do I add an Emburse card to Apple Pay?

To add your Emburse card to Apple Pay, open the Apple Wallet app, tap the “+” button to add a new card, and follow the prompts to input your Emburse card details. Once added, you can use Apple Pay for secure and convenient transactions.

How do I check the balance on my Emburse card?

To check the balance on your Emburse card, log in to the Emburse online portal or mobile app – Your balance info should be readily available in your account dashboard.

Conclusion

Emburse has an interesting offer, as far as corporate spend management and cards goes. Is it the best? I really can’t say – the best corporate credit card for your business will depend on your needs, your company revenue, and your spending habits.

The bottom line is that this is a legit offer that has grown rapidly since its inception. If you’re looking for an expense management platform with staff cards and spend limits, check it out.

Keep in mind, the Emburse card isn’t a business credit card – it’s a corporate card, which is more like a buy now pay later (BNPL) arrangement.

For credit cards, financing, and other cash flow boosters, you’ll want to look into business credit – you may find our business credit checklist helpful.

Ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

7 Best Cash Back Corporate Credit Cards to Explore in 2024

By Joe

It wasn’t that long ago that it seemed completely revolutionary to offer corporate cards and expense management solutions for free. Traditionally, setups like this came with hefty annual fees, and the main benefit was expense tracking. With the absurdly quick technology evolution of recent years, the corporate cards entering the market have started to deliver impressive discounts and rewards.

But, what are the best cash back corporate credit cards on the market?

While there are surely some newbies that I don’t know about, I’ve explored most of the major options, selected my favorite, and even listened to my colleagues’ and business credit coaching students’ experience with many corporate card offers. Here, I lay out the corporate cards that I like the most.

This is what’s in store:

What is a Cash Back Corporate Credit Card?
The Best Cash Back Corporate Credit Cards
Frequently Asked Questions
Final Thoughts: Which Corporate Card Should You Choose?

Now, let’s dig in!

What is a Cash Back Corporate Credit Card?

A cash back corporate credit card is a type of spending/expense management card specifically designed for businesses – this kind of card allows companies to earn a percentage of their spending back in the form of cash rebates or rewards.

Corporate cards are not, by definition, credit cards. The key differences are that credit cards carry a revolving balance while corporate cards are paid in full daily, weekly, or monthly.

The cash back on a corporate card typically comes as a percentage of the total purchases made using the card and is usually credited to the account or provided as a check or statement credit. Not all corporate cards offer cash back.

best cash back business credit cards reddit

Cash back corporate cards come with benefits, including:

Cash back rewards
Categories and bonuses
Various redemption options
Expense tracking
Employee cards

As you explore your options, it’s a good idea to carefully review the terms and conditions of any offer, including interest rates, fees, and any limitations on rewards. The benefits of a particular card will depend on your business spending patterns and financial needs.

The Best Cash Back Corporate Credit Cards

Now, let’s explore some of the best cash back corporate cards currently on the market. We’ll look at the qualification requirements, perks and cash back rewards, and the

You might also like: 6 Best Fintech Credit Cards to Apply for (Consumer & Business)

1. Bill Spend & Expense

Best cash back corporate credit cards no annual fee

To qualify for a Bill Spend & Expense card (formerly Divvy), you need at least $20,000 in an active U.S. bank account, a “good” to “very good” credit score, and your business must be based in the United States. Revenue and time in business requirements vary among applicants.

Bill’s cash back rewards are structured into three tiers based on payment frequency.

Weekly rewards include:

7X on restaurants
5X on hotels
2X on recurring software subscriptions
1.5X on everything else

Semi-monthly rewards offer:

4X on restaurants
3X on hotels
1.75X on recurring software subscriptions
1X on everything else

Monthly rewards comprise:

2X on restaurants
2X on hotels
1.5X on recurring software subscriptions
1X on everything else

These points can be redeemed for Divvy travel, gift cards, a statement credit, or cash back – And, exclusive partner discounts further enhance the reward program.

A standout feature of Divvy is its unique credit limit determination; the system analyzes your business’s cash flow and offers a credit limit of approximately 30% of your monthly revenue. Initial lower limits may increase with consistent on-time payments.

2. Stripe Corporate

Best cash back corporate credit cards for startups

To qualify for the Stripe Corporate Card, you must be an existing Stripe Payments user and maintain a high volume of sales processed through the payment gateway. You can request an invitation on the company website if you already use Stripe for business.

The Stripe Corporate Card offers a compelling cashback program. Cardholders pay 0% interest and zero fees, including late fees, annual fees, and foreign transaction fees.

With $5,000 in spending, you can access $50,000 in free transactions on the platform. Additionally, cardholders earn 2% cash back on spending in their top two categories, automatically credited to their monthly bill.

The Stripe Corporate Card runs on an invitation-only model. YOu can upload your logo to create a branded credit card within minutes. The card is available in both virtual and physical forms, with virtual cards accessible instantly and physical cards arriving within a few days.

Moreover, Stripe Issuing enables users to originate their own credit cards to offer to customers, providing a unique customization option.

3. Brex

To qualify for the Brex Card, you must have a US-based business with an Employer Identification Number (EIN), a business bank account, and verify your identity through government-issued ID photos. While the specific financial criteria are not explicitly stated, anecdotal evidence suggests maintaining $50,000 to $100,000 in the bank at all times may increase your odds of qualifying.

The Brex Card offers an impressive cash back rewards program, making it a lucrative choice for tech, life sciences, and eCommerce businesses. Cardholders can earn up to 30,000 introductory bonus points by linking their Brex credit card account to Brex Cash and spending $3,000 in the first three months.

The rewards structure includes:

8X points on rideshare apps
5X points with Brex travel partners
4X on dining at restaurants
3X on recurring software subscriptions (Brex Cash)
1X on all other expenses

The Brex Card requires no personal guarantee and no annual fees, interest, or other costs. This is particularly advantageous for businesses in tech, life sciences, and eCommerce, as it allows them to access credit without relying on personal credit scores.

Additionally, the built-in, real-time expense tracking tools streamline financial management, and the card provides exclusive partner perks with companies like AWS, Slack, and Google Ads, potentially offering up to $150,000 in savings.

4. Ramp

Ramp Corporate Credit Card eligibility is not explicitly detailed, but the application process involves no credit checks or founder guarantees. While transparency is limited, factors such as the number of employees, average monthly card spending, and maintaining over $250,000 in the business account seem to influence underwriting decisions.

Ramp offers a compelling rewards program, featuring unlimited staff cards with customizable spending limits. The card stands out by providing 1.5% cash back on all spending, without imposing foreign transaction fees, late fees, interest fees, annual fees, or costs per card.

This straightforward cash back structure allows businesses to earn rewards across various spending categories, making it a versatile choice.

Businesses can issue unlimited staff cards, each with individual spending limits. The card’s algorithm actively identifies potential savings opportunities, such as duplicate subscriptions or lower pricing plans with software vendors.

Plus, Ramp distinguishes itself by offering $175,000 in partner rewards (competitive with Brex). Cardholders can leverage exclusive offers from Ramp’s partners, potentially saving substantial amounts on services and subscriptions.

5. Expensify

While specific qualification criteria for the Expensify Card are not advertised, you’ll definitely need an active Expensify account to access the card. Users interested in obtaining the card should initiate the request within the Expensify platform. The application process typically involves navigating through account settings or the designated card management section.

The Expensify Card offers a straightforward cash back rewards structure, providing users with the opportunity to earn up to 2% cash back on their purchases.

This rewards system comprises two components:

1% cash back on every swipe
Additional 1% cash back for monthly spending above $250,000

This cash back feature allows businesses to accumulate tangible benefits as they manage and optimize their expenses, providing financial incentives for their spending activities.

One notable feature of the Expensify Card is its seamless integration with the Expensify app, which enables real-time transaction syncing. This integration ensures that transactions made with the Expensify Card are immediately and reliably imported into the Expensify app.

6. Shopify Credit

unlimited 2% cash back business credit card

Shopify Credit offers a straightforward application process with eligibility based on eCommerce performance rather than credit scores. Only sellers on the Shopify platform can use this card.

And, to qualify, merchants typically need:

A Shopify Payments account with a single owner
A bank account connected to the Shopify Payments account
A valid United States Social Security number
A business located in the United States or Puerto Rico

Shopify may extend offers to eligible merchants, and decisions are often made within minutes.

Shopify Credit provides cashback rewards as a notable feature of its offering. Users can earn rewards customized to their business spending in three approved categories:

3% cash back on top spending category
1% cash back on other two categories

It’s important to note that to qualify for cashback rewards, users must use the Shopify Credit card for spending with Shopify’s partners in the specified categories, including marketing and advertising, shipping and fulfillment, and wholesale.

Shopify Credit has a fee-free structure, which ensures that merchants can manage their business finances without incurring additional charges (as long as they keep paying responsibly). The card comes with no annual fees, no foreign transaction fees, and no setup fees. This transparent fee structure aligns with Shopify Credit’s focus on simplicity and aims to keep more money in the business.

7. Emburse Spend

Can you get cashback on a business card?

Emburse Spend offers a versatile spend management solution suitable for businesses of different sizes. To leverage Emburse Spend, businesses need to use the accounting platform or some aspect of it. The platform is priced according to company size and features enabled. You’ll need to reach out to Emburse for a quote.

Emburse Spend offers a flat, 1% cashback on eligible purchases. This straightforward cashback structure provides businesses with a consistent reward on their spending.

A standout feature of Emburse Spend is its automated reconciliation process. By capturing expense details at the point of transaction for immediate reconciliation, businesses can streamline their accounting processes – This not only reduces the burden on accounting teams and employees but also ensures expense management accuracy and efficiency.

Frequently Asked Questions

Does a corporate card hurt your credit score?

In most cases, corporate cards are not reported to personal credit bureaus, so your personal credit score is not directly impacted by corporate card usage or payment behavior. But, some corporate cards may require a personal guarantee, which would mean the business owner is personally liable and late payments would be reported.

Do corporate cards get cash back?

Corporate cards may offer rewards, but cash back is rare. Rewards on traditional corporate cards often come in the form of travel perks, expense management tools, or points for business-related expenses. But, cards like those listed here are diamonds in the rough,

Are cash back cards worth it?

The worth of a cash back card depends on your spending habits and preferences. If you frequently make business-related purchases, a cash back card can provide tangible benefits, putting money back into your business with each transaction.

What are the disadvantages of cash back credit cards?

Disadvantages of cash back credit cards may include high-interest rates if balances are not paid in full, potential annual fees, and limitations on cash back categories. It’s crucial to weigh the benefits against the associated costs and understand the difference between business credit and corporate cards.

What is the best cash back card for business?

Determining the best cash back card for business depends on individual preferences, spending patterns, and industry. For example, I would recommend different credit cards for truckers vs landlords. And, my favorite general corporate cash back card is the Bill Spend & Expense card.

Can I get a credit card with an EIN?

Yes, you can apply for a business credit card using your Employer Identification Number (EIN). Business credit cards help separate personal and business expenses, and the application process typically considers the business’s creditworthiness rather than personal credit history. It’s rare, but you can get credit cards with just an EIN.

Final Thoughts: Which Corporate Card Should You Choose?

If you’re selling with Shopify or Stripe, look into their branded cards. If you already use Emburse (or you’re in the market for new accounting software, you may want to check out Emburse Spend (though all of these corporate cards come with varying expense management features) . If your revenue is high or you’re looking for savings on tech spend, look into Brex.

I don’t like to play favorites, but my favorite cashback corporate credit card overall is Bill Spend & Expense. The bottom line, though, is that the best card for you is going to depend on what you can qualify for, how you spend, and what features you need and want – I like all of these cards for different business scenarios.

Are you ready to learn how to obtain up to $100K in business credit in as 30 days? Join Business Credit Workshop today!

Expensify Card Review: A Detailed Expense Tracking Analysis

By Joe

Expensify is a leading business expense management app with a (fairly new) corporate card offer for small businesses. And, as you know, finding the right corporate card is super important. In this review, I’ll touch on the Expensify app, then dive deep into the Expensify Card offer.

You can explore its features, benefits, and I’ll point you to a couple other corporate card offers you might want to compare.

Here’s what’s in store:

What is Expensify?
- Expensify Company Overview
- What is the Expensify Card?
Expensify Corporate Card Features & Benefits
Frequently Asked Questions
Conclusion

Now, let’s scrolll!

What is Expensify?

Expensify, at its core, is an expense management tool designed to simplify the intricate process of handling business expenditures. Its standout feature is the automated receipt tracking, allowing users to effortlessly scan receipts via the mobile app (which reduces manual data entry).

The platform also encompasses:

Expense reports
Simplified approval workflows
Travel benefits
Receipt scanning
Cost control measures
Staff reimbursements

Another distinctive feature of Expensify is its seamless integration between the Expensify Card and the app, facilitating real-time transaction syncing. This real-time connection enhances the overall efficiency of expense tracking and reporting.

Now, I always turn to Reddit for external opinions. This time, Redditors gave the app mixed reviews, but overall decent.

If you’re asking, “How much does Expensify cost?” you’ll be surprised – Most plans are free for up to 25 swipes per month, which gives you the chance to try it out and see if it’s right for you before you commit. After that, you’ll supposedly pay anywhere from $0 to $9 per month, depending on the plan you choose.

However, once you’re in the app, you’ll see that pricing can be a bit higher (though still affordable, and more in alignment with what I would expect to pay).

Overall, I’d say that, collectively, these features form a robust expense management solution for businesses of varying sizes and needs.

Recommended: 7 Best Cash Back Corporate Cards to Explore

Expensify Company Overview

Originally founded in 2008 by Davit Barrett, Expensify Inc. has become a prominent player in the expense management landscape. It’s a publicly-traded, for-profit company with a commitment to simplifying financial processes.

Barrett has served as the CEO of Expensify Inc. since 2009 – previously, he worked as an Engineering Manager at both Red Swoosh and Akamai.

According to Glassdoor (as of December 2023, anyway), employees would recommend Expensify to a friend and tend to approve of the CEO – This speaks volumes.

In all, I would say Expensify appears to be run by trustworthy leadership and that it’s a legit company. .

What is the Expensify Card?

The Expensify Card – released in 2019 – is a corporate credit card (so, technically not a credit card), designed to automate and simplify expense tracking. It serves as a central component of Expensify’s expense management solution.

★ With this card, you have the option to settle-up on your balance daily or monthly – the choice is yours. Since it’s a corporate card, it must be paid in full.

When employees use the Expensify Card, the associated transactions are automatically imported and accounted for within the Expensify app. This seamless integration enhances the overall user experience and efficiency in managing expenses.

The Expensify card is equipped with features such as Smart Limits, offering businesses control over employee spending, and real-time compliance checks through the Rogue Agent Detection system to ensure adherence to company policies and mitigate the risk of fraud.

The card also comes with perks, including:

Cash back rewards of up to 2%
Exclusive travel benefits
Access to higher credit limits without the need for a credit check.

With its automated features, real-time syncing, and additional benefits, the Expensify Card aims to streamline expense management and provide businesses with a practical and efficient tool for handling financial transactions.

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