corporate cards

The Revenued Business Card: What is it & Do You Need it?

The Revenued business Visa® card is a popular new way for businesses manage their spending (and to get funding in as little as an hour after you apply). So, if not a loan or line of credit, what is it? And, is it worth it?

Here, we’ll look at the details of the offer including an overview of the company, rates and fees, limits, and get answers to questions you might have about the Revenued business card.

This is what’s in store:

What is a Revenued Business Card?
How Does a Revenued Business Card Work?
Frequently Asked Questions
Conclusion: Is the Revenued Business Card Legit?

Now, let’s roll!

What is a Revenued Business Card?

The Revenued business card is a “fee-free,” 3% cash back, commercial prepaid card issued by Sutton Bank, designed specifically for business needs—It’s not a credit card, loan, or a gift card, and it’s meant to purchase goods and services related to your business activities.

There are no:

Monthly maintenance fees
Card replacement fees
Expedited delivery fees
Statement fees

However, if you use an out-of-network ATM, additional fees might apply.

With the Revenued business card, you also get access to a “Flex Line” feature, providing you with a flexible “line of credit” up to $500K. And, it’s funded through a Pearl Capital account, using merchant cash advance (MCA) funds (Originally, this made me think the company was a white label solution for Pearl Capital funding).

Within the flexible line of credit, there are spending limits: you can spend up to $10,000 per day, $50,000 per month, and no more than $10,000 per transaction.

You might also like: Is Carputty Legit? A Complete Auto Financing Review

What is Pearl Capital MCA Funding?

For individuals considering a Revenued business card, Pearl Capital MCA funding offers a financial solution worth exploring. MCA, or Merchant Cash Advance, funding is essentially a factored loan, wherein a lump sum is provided upfront in exchange for a percentage of future credit card sales—This means that instead of a traditional loan with fixed payments, repayments are based on a percentage of daily credit card transactions.

It’s a quick and flexible option for businesses in need of immediate cash flow, although it’s important to note that MCA funding typically comes with higher fees and shorter repayment terms compared to traditional loans.

You might also like: A Deep-Dive Credibly Review: Is Their Financing Right for You?

Revenued Business Card Requirements

To obtain a Revenued Business Card, you’ll need to meet certain requirements—Firstly, you must have a valid email address and reliable access to the internet.

You also need:

A legally registered LLC or corporation
At least a year in business
A dedicated business checking account
At least $20K in monthly deposits

Other factors may limit your ability to obtain funding during the underwriting process. However, your credit shouldn’t impact your ability to obtain a Revenued business card.

You might also like: Could a Stripe Capital Loan Get Your Business Through a Rough Patch?

Company Overview

There are several companies at play here (Sutton Bank, Pearl Capital, Marqeta). For the sake of staying relevant, let’s peek behind the curtain at Revenued – the company presenting the actual product. According to their own marketing, “Revenued is a card that cares less about FICO and more about your business.”

Revenued LLC is a New Jersey-based, private, for profit financial solution provider that was founded in 2017. The company’s current CEO, Solomon “Sol” Lax, is claimed to have been at his current position since 2015 (but the entity wasn’t officially established until a couple years after this).

Now, what’s interesting is that, according to his LinkedIn profile, Sol became the CEO at Pearl Capital in 2015, where he moved up from COO—This shows that the two entities are very connected.

In fact, Revenued and Pearl Capital share most of the same company leadership.

Technically, they are two different entities, so let’s not dwell too long on that subject. For 6 bucks or so, we could pull more info about the companies from Secretary of State records or Open Corporates. But, I think we have enough info to dig up the dirt.

Revenued isn’t listed on Glassdoor, but Pearl Capital is. And, only about ⅓ of employee reviewers approve of Sol as the leader of the company. Staff rate diversity and inclusion efforts on the poor side and declining. What employees think of a company can imply a lot about the internal culture.

More importantly from a borrower’s perspective, existing customers can tell us more. On Trustpilot, The reviews for Revenued are overwhelmingly positive, with a TrustScore of 4.7 out of 5 and the majority of reviewers giving 5-star ratings. Customers praise the company for its easy application process, helpful customer service representatives, and quick issue resolution.

While they’re not accredited with the Better Business Bureau (BBB), they maintain an A- rating. Most if not all of their complaints must’ve been closed in a timely manner.

Revenued business card report to credit bureaus

I ran across a few open lawsuits where Revenued LLC was a party—they appeared to be the company filing breach of contract against business borrowers. It’s worth noting that they do collect on debts owed to them, which is completely understandable.

In all, despite some internal concerns and a few disputes, Revenued LLC garners high customer satisfaction ratings for its efficient services, suggesting that it effectively meets the needs of its clientele.

You might also like: This is the Truth About LenCred’s Small Business Financing

How Does a Revenued Business Card Work?

From the card itself to the Flex Line and more, A Revenued business card is a simple, but powerful offer. Let’s take a look at the features and benefits of a Revenued business card.

1. Flexible Line of Credit

The Revenued business card offers access to a flex line of credit that adapts to your business’s revenue fluctuations. This feature allows you to borrow funds as needed, providing financial flexibility to cover unexpected expenses or seize growth opportunities.

Unlike traditional loans with fixed repayment terms, the line of credit adjusts based on your business’s performance, ensuring that you have access to the capital you need when you need it most.

Moreover, the factor rate remains constant throughout the repayment period and usually falls within the range of 1.1 to 1.5.

You might also like: How to Get Approved for Amazon Net 30 Terms (“Pay by Invoice”)

2. Control & Monitoring

Managing your spending and monitoring transactions is made simple with the Revenued business card. They use Marqeta (the same platform as Ramp and Divvy (Bill)) to issue cards and – in my experience – this technology is great.

Through an intuitive online dashboard or mobile app, you can track your purchases, review transaction history, and monitor your available credit in real-time—This visibility and control level can empower you to make informed financial decisions, identify trends in your spending patterns, and proactively manage your cash flow.

Moreover, authorized users are allowed, which could be convenient or needed for some borrowers.

You might also like: Can Tradeline Supply Reviews Be Trusted? The Full Picture

3. Super Quick Funding

One of the key advantages of the Revenued Business Card is its quick and streamlined funding process. When you apply for the card online, you can receive a funding decision in as little as an hour.

Once approved, you’ll gain access to your funds within 24 hours, allowing you to address pressing business needs promptly—This rapid funding turnaround time ensures that you can seize opportunities for growth and respond to unexpected challenges without delay, which can help you keep your business operations running smoothly.

You might also like: Is Biz2Credit Legit? A Complete Review

4. Dedicated Support

Revenued business card customer service number

As a Revenued business card holder, you’ll have access to dedicated support from a team of experienced professionals. From the moment you apply for the card, you’ll be assigned a dedicated Account Manager who will guide you through the application process and provide ongoing assistance with managing your account.

However, live chat support is limited to certain hours and days of the week.

You might also like: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors]

Frequently Asked Questions

Does Revenued do a hard pull?

Revenued typically conducts a soft credit pull during the application process, which doesn’t impact your credit score. However, in some cases, they may perform a hard credit pull, which can affect your credit score.

Is there an annual fee for the Revenued business card?

As of January 2024, the Revenued Business Card is fee-free. It doesn’t charge an annual fee, monthly fee, application fee, or card replacement fee.

What is the minimum credit score for Revenued?

Revenued considers various factors beyond just your credit score when evaluating applications. While there isn’t a specified minimum credit score requirement, having a higher credit score may increase your chances of approval and potentially result in better terms.

Who does the Revenued business card report to?

The Revenued business card typically reports to the major credit bureaus, such as Experian Business, Equifax Business, and Dun & Bradstreet (D&B). This means that on-time payments can help you build business credit.

Conclusion: Is the Revenued Business Card Legit?

I almost never recommend MCA funding unless there is no other choice because they are typically too expensive. While MCAs may not always be the preferred option for financing, the Revenued Business Card stands out for its potential to serve dual purposes.

Not only does it offer a pathway to access working capital quickly, but it also presents an opportunity to build and strengthen your business credit profile. And, the potential for 3% cashback on MCA spending adds another layer of benefit, making it a compelling choice for businesses seeking flexible financing solutions while aiming to improve their creditworthiness.

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!

3 Best Business Credit Cards for a New LLC +More Resources

By Joe

So, you’ve started a new LLC, and you’re interested in getting business credit cards. But, since your business is new, you haven’t established business credit yet. So, what are the most promising cards for you to apply for?

Here, I’ll tell you what cards you might qualify for (along with their requirements), and explain exactly what I would do in your position. As a new business, you don’t automatically have business credit, so you may want to establish it now.

Here’s what’s in store:

What Are Business Credit Cards?
- Can a Newly-Formed LLC Get a Credit Card?
Best Business Credit Cards for New LLCs
Corporate Cards to Consider
- 1. Bill Spend & Expense (Formerly Divvy)
- 2. PEX Expense
Best Loans for New Businesses
- 1. Credibly
- 2. LenCred
Frequently Asked Questions
Final Thoughts

Now, let’s roll!

What Are Business Credit Cards?

Before we look at the cards you might qualify for, let’s make sure you’re clear on what you want. More often than not, business owners get other spending cards confused with business credit.

Business credit cards are revolving lines of credit that can be used for business spending. Only a percentage of the total amount spent is required to be paid each billing cycle. Business credit cards accrue debt on any balance left unpaid.

Meanwhile, corporate cards are either prepaid or must be paid in full at the end of each billing cycle. Corporate cards typically supplement robust business expense management software and tools.

So, if you need funding, look at the credit cards below. And, If you need expense management, consider the recommended corporate cards.

Can a Newly-Formed LLC Get a Credit Card?

So, how soon can you apply for a business credit card and do brand new LLCs get business credit?

Getting a business credit card for a brand new LLC depends on factors like the business’s creditworthiness and the personal credit history of the owners. Typically, credit card issuers have a waiting period before a new business can apply, often a few months to a year (but this isn’t always the case).

As a new LLC, it’s important to establish a clear separation between business and personal finances by:

Obtaining an EIN
Opening a business bank account
Maintaining distinct records

The likelihood of approval is higher if the owners have a good personal credit score. As the business operates and builds a positive credit history, it becomes easier to qualify for business credit cards. Check with specific credit card issuers for their policies and requirements.

You might also like: Here’s How to [Actually] Get Business Credit With Just an EIN +More Options

Best Business Credit Cards for New LLCs

Here, I’ll lay out my favorite business credit cards for new LLCs. You’ll see a summary of each offer (why I like it) and how long your business must be in operation before you apply.

If you can’t get a business credit card yet, and you’re in need of immediate funding, scroll down to the loans section. Or, join Business Credit Workshop to learn how to get up to $100K in business credit in as few as 30 days.

1. Chase Ink Business Preferred

credit cards for new businesses with no credit history

The Chase Ink Business Preferred card stands out as one of the top small business credit cards, thanks in part to its impressive sign-up bonus. Although it doesn’t offer a 0% APR and comes with an annual fee, there’s significant potential for savings and rewards. If you believe your business meets the qualifications, I recommend this one.

To qualify for the Chase Ink Business Preferred credit card, you don’t need a specific annual income or business history, but your revenue should cover the minimum monthly payment.

Other requirements include:

A FICO score of 670 or higher
A minimum credit limit of $5,000

Chase evaluates your application using your personal credit score, with a recommended FICO score of 670 or higher. Keep in mind that while a good credit score is important, it doesn’t guarantee approval or denial. Whether you’re an incorporated business (LLC, corporation, partnership, non-profit, etc.) or a sole proprietor, you’re eligible to apply for the Chase Ink Business Preferred credit card.

2. Bank of America Executive Explorer

Startup business credit cards for new llc

Next, consider looking into the Bank of America Executive Explorer card. Despite its $375 annual fee, the card’s perks more than justify the cost. For instance, you receive a $600 Lounge Access credit annually and a $100 Airport Fast Track credit every four years. Moreover, you gain access to the Benefits on Us and Dinova Rewards programs.

While a new LLC could be approved, it’s important to note that this isn’t a revolving credit line; rather, it functions as a “corporate credit card” that must be paid in full. To qualify, you must be an executive or owner of your company, and while there’s no minimum business history requirement, having an excellent credit score is crucial.

Owners with FICO scores of 740 or higher stand the best chance of getting approved for Bank of America business credit cards.

3. Marriott Bonvoy Business

I believe Marriott boasts one of the top hotel rewards card programs. The appealing part is that while you travel for work, the Marriott Bonvoy Business credit card helps you build business credit. If you meet the criteria, applying for and using this card is a smart move.

Keep in mind that the Marriott Bonvoy Business Credit Card is exclusive to business owners and authorized representatives with a credit score of 700 or higher.

Approval considerations also include factors like:

Annual income
Existing debts

Start earning travel rewards on your next hotel stay by applying now.

Corporate Cards to Consider

If you’re looking for a spend card mainly to help with expense management, and you’ve got some revenue to back your account, a corporate card might be a better choice at this point – especially if your LLC is brand new, and your credit hasn’t been established.

Now, my favorite thing about modern corporate cards is that many of them offer cash back on spending (some more than others). So, with these cards, you have a chance to earn on transactions that you or your employees make. Cool, right?

Here are the two cards I would recommend…I’ll explain why.

1. Bill Spend & Expense (Formerly Divvy)

business credit cards for new llc without personal guarantee

Bill Spend & Expense, formerly known as Divvy, comes with its own set of advantages and disadvantages. If you’re considering whether to take advantage of this offer, reflect on the following questions:

Is your monthly business spending more than $5K?
Does your business have multiple staff members with spending privileges?
Can you pay your expenses in full each month?

If you answered “yes” to these questions, the Bill Spend & Expense card could be an excellent fit for you. Now, to meet eligibility requirements, a business owner must have a minimum personal credit score of 580, and having a score of 640 or higher increases the chances of approval. Additionally, a higher annual revenue enhances the likelihood of approval.

I personally highly recommend checking it out, specifically for the tiered cashback rewards. Sign up on the Bill.com website to find out the credit line you may qualify for.

2. PEX Expense

PEX is another solid corporate card with some cool features, making it a good pick for businesses and nonprofits looking to manage expenses smoothly. It’s got prepaid and dynamic credit cards, throws in 1% cash back, and has a handy app that fits different industry needs.

The user experience is made even better with seamless integrations, virtual/physical cards, and customizable controls, backed by PEX’s positive company vibe.

While PEX is a great choice, if you’re running a startup or an e-commerce gig, you might want to check out alternatives like Brex, Bill Expense, or Shopify Credit that could be more spot-on for your needs. Always a good move to weigh your priorities and compare a few options when it comes to any financial stuff.

Oh, and PEX cards are designed for businesses and organizations, and the cool part is you can get them without worrying about minimum funding requirements—they can even be issued inactive. Nice, right?

Best Loans for New Businesses

Now, if you’re looking for the funding aspect of a credit card, but you haven’t established business credit, you still have options. While your repayment terms aren’t ideal on most of the options available to you right now, you can use one of these offers in a pinch.

Note: I don’t typically recommend factoring-type financing or loan brokers. The problem is that the rates are typically very high. Still, I know that sometimes you gotta do what you gotta do to pay for emergencies to seize an opportunity to grow your business. I have thoroughly reviewed the following loans, and I’ll tell you the truth about them.

Recommended: How to Get an SBA Business Loan

1. Credibly

Business credit cards for new llc ein only

Credibly’s rates, covering everything from interest and factor rates to origination fees and admin fees for merchant cash advances, lean towards the higher side. If your business is on the newer side, your credit isn’t stellar, and you’re pulling in at least $15,000 per month, Credibly might be a viable option for securing the funding needed to keep your business going or expand.

It’s a relatively young company, but it’s legit, with enough satisfied customers indicating it’s doing something right. However, I won’t strongly recommend their loans unless your business is in a tight spot, and if it is, be cautious about the personal guaranty—it can be risky.

Before committing to Credibly or any other company, it’s a good idea to shop around for quotes. You might be able to find comparable loans with better rates, especially if your business is more established or you have a solid credit score.

2. LenCred

business credit cards for new llc with bad credit

If you’re in need of working capital or startup funds, and you’ve got solid credit but aren’t in a position for traditional funding options, LenCred could be the solution you’re looking for – It’s especially handy if you’re not keen on unconventional routes like crowdfunding and are okay with dealing with a 9% origination fee.

LenCred’s financing services might just be the boost you need.

However, if you’re aiming to build up your business credit and prefer securing funding without hefty origination fees, LenCred might not be the best fit. Since they don’t use your business credit profile in the funding process, their lenders are unlikely to report to the business credit bureaus. So, it’s a trade-off to consider.

Frequently Asked Questions

What is the fastest way to get business credit for an LLC?

You first need to make sure the owner’s personal credit is in check and the business is properly established for “credit readiness.” Then, open a bank account and establish relationships at the bank. After that, make sure the business has a DUNS number, establish your first tradelines of credit, and pay your accounts at the right time. Finally, you just need to monitor your business credit before you apply for a new loan or line of credit.

Download our free Business Credit Checklist to start building business credit.

Can a single-member LLC build credit?

Yes, a single-member LLC can build business credit with an EIN and a DUNS number.

Can you get a business credit card with no revenue?

The short answer is no. However, there are exceptions, for example, you may be able to get a business credit card with a personal guarantee if your income meets underwriting requirements.

Do LLCs start out with good credit?

When LLCs are initially registered, they have no business credit. In this case, credit decisions may be based on the owner’s personal credit. Businesses can build credit by establishing their business properly, setting up accounts with the right tradelines, and paying accounts on-time as agreed.

What happens if an LLC defaults on a credit card?

If an LLC defaults on a credit card, the creditor can go after business assets, send debts to collections, and sue to liquidate the company. If the credit card has a personal guarantee, the creditor may hold the business owner personally liable to repay the debt.

Final Thoughts

Now that you’ve explored the best business credit cards for your new LLC, consider all options like the Chase Ink Business Preferred and PEX Expense to find what suits your business needs. Distinguish between business credit and corporate cards, with corporate options like Bill Spend & Expense offering a smooth ride for your expense management.

For loans, check out Credibly and LenCred, weighing perks and alternatives.

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

The PEX Card: Is it the Best Corporate Card for Your Business?

By Joe

The PEX Card is one of the most popular non-big-bank corporate cards on the market today. While the offer is legit, it’s not your only option. Before you sign up for any financial service, you should know exactly what you’re getting into.

Here, I’ll break down the PEX offer in full (the good, the bad, and the ugly), and I’ll point you out to other options that may or may not be a better fit for your operations.

This is what’s in store:

What is a PEX Card Used For?
PEX Card Features & Benefits
Frequently Asked Questions
Conclusion: Is PEX a Good Idea?

So, let’s break it down!

What is a PEX Card Used For?

PEX is a corporate expense management platform that offers a range of financial tools, including corporate charge cards (PEX Cards) with dynamic credit lines and 1% cash back – These cards are designed to help you manage:

Employee spending
Payments to vendors
Fund distribution for various programs

PEX Cards provide businesses and nonprofits with a high degree of control and flexibility, which enables easy administration through automated reporting, mobile receipt capture, and real-time tracking. The platform includes features such as prepaid expense cards, virtual vendor cards for bill payments, and grants disbursement cards.

While they’re powered by Visa,® PEX “Expense” cards are not credit cards, they are prepaid, corporate cards. The platform also offers PEX “Credit” cards with dynamic limits based on the cash flow in and out of your connected business bank account, which I’ll explain more below.

For a better understanding of the difference between the two types of spending, explore an in-depth comparison between credit cards and corporate cards.

The PEX card also offers rewards and incentives cards for employee recognition. The PEX API allows you to customize and integrate solutions, generating cards and spending rules on the fly.

As a brand, PEX Cards cater to a variety of industries and organizations, providing a comprehensive and adaptive financial management solution to streamline processes, eliminate paperwork, and simplify expense reports.

Where Can You Use a PEX Card?

The PEX platform emphasizes the convenience and flexibility of its cards for various use cases, such as:

Travel
Bill payments
Other on-the-go expenses

The PEX Visa® Commercial Cards are designed to be accepted internationally (wherever Visa cards are recognized). So, you can use a PEX card at a wide range of merchants, both online and offline, that accept Visa® payments globally.

Worldwide acceptance makes these cards suitable for businesses and organizations with international operations or employees who need to make purchases or payments abroad.

It’s important to check with individual suppliers or service providers during international transactions to ensure that they accept Visa cards, as specific acceptance may vary at the discretion of the merchant.

How Much Does a PEX Account Cost?

For PEX card accounts, the monthly subscription fees vary based on the account type.

Credit accounts have a $0 monthly subscription fee, while prepaid accounts have different fees:

$0 for accounts with monthly spending over $50,000
$75 for up to 20 card accounts
$200 for up to 100 card accounts.

Additional card accounts for prepaid accounts incur extra charges, ranging from $2 to $8 per month, depending on the account type and the number of additional cards.

Virtual Vendor Cards have no additional fee, and custom cards are available for an extra charge regardless of the account type.

PEX Company Overview

According to Crunchbase, Toffer Grant founded the New York-based financial services company, Prepaid Expense Card Solutions, Inc. (PEX), in 2007. The company does business as At the time the company was established, Grant – who is the current CEO of PEX – had been working in the prepaid card industry for 7 years, and had previous experience in entertainment and advertising.

The company was successful enough to inspire Emburse to compete when they launched their corporate card offer in 2014; both expense management platforms and cards are still going strong today.

PEX is a private, for-profit corporation (still owned and operated by Grant) that has received at least $4.9M in funding from at least four investors including New York Angels and Inovia Capital.

According to Glassdoor and based on 27 reviews, almost everyone who works for PEX approves of the CEO, and most of them would recommend this company to a friend – the way staff feels about a company is super telling of its general ethics, and 100% CEO approval is impressive.

PEX is also accredited by the Better Business Bureau (BBB) with an A+ rating. The BBB lists only one complaint about the company since at least 2011 (also wildly impressive). Combined with the satisfied staff, this tells me they’re an honorable company – I’d give them my trust.

You might also like: Meet the Emburse Card: An Inclusive Cash Back Corporate Card

PEX Card Features & Benefits

Now, explore the functionalities of PEX Cards, the corporate expense management platform offering practical solutions. Whether you’re a small business or a larger enterprise, PEX offers a super flexible solution for streamlined and controlled expense management…Find out how, and exactly what you can expect.

1. Prepaid & “Credit” Card Flexibility

As you know, PEX offers business prepaid expense cards and business “credit” cards.

The PEX Expense cards are paid in advance for business owners who want to manage employee expenses. Meanwhile, the PEX Credit cards are offered with a dynamic spending limit based on business cash flow.

While the Credit card does provide a buy now, pay later (BNPL) offer, it is not a traditional business credit card – PEX does not check your personal or business credit, they do not report your company’s payments to business credit bureaus.

So, you won’t get a business credit boost with Dun & Bradstreet or any other business credit bureau, but PEX will give you the chance to either prepay or pay monthly.

2. 1% Cash Back on All Purchases

While some of PEX’s advertising claims that you can get up to 2% cash back on eligible expenses, the card’s terms and conditions don’t mention this rate – this is actually a promotion that’s happening with the virtual cards and credit cards.

PEX Credit Expense offers a compelling 1% cash back on all eligible purchases, providing businesses with a tangible incentive for using the platform. This cashback feature is applicable to a range of expenses, contributing to overall savings. The offer is designed to benefit businesses of all sizes, which makes it an attractive proposition for those looking to maximize the value of their corporate spending.

You might also like: Have You Heard About the Free Stripe Corporate Card Cashback Benefits?

3. The PEX App

The PEX Card App is available on both GooglePlay and the iOS marketplace – it enhances the user experience by providing a convenient, efficient way to manage expenses on the go.

With real-time monitoring and authorization capabilities, cardholders can effortlessly submit receipts and accounting codes directly through the mobile app. This feature ensures that users have instant access to their financial data, enabling them to stay in control of their expenses anytime, anywhere.

And, the app gets great ratings, with a 4.7 for both Android and Apple devices.

The app’s user-friendly interface simplifies the expense management process, reducing the time and effort spent on reconciliation.

You might also like: In-Depth Divvy (BILL) Credit Card Review: Read This Before You Apply

4. Integrations & API

PEX’s seamless integration with accounting systems streamlines financial operations for businesses. The system integrates with over 60 popular software platforms, including Quickbooks.

By syncing transactions with existing accounting software, the PEX platform automates:

Expense reporting
Allocations
Reconciliations

This integration not only saves time but also enhances accuracy by minimizing manual data entry. The deep reporting options provided by PEX ensure that businesses have comprehensive insights into their financial activities, fostering better decision-making and financial management.

And, if you don’t see your app in the PEX marketplace (for example, there aren’t a lot of payroll systems on the list), you can access the PEX application program interface (API) to make it happen.

5. Virtual & Physical Cards

PEX enables businesses to distribute both physical and virtual cards, offering flexibility in how expenses are managed. Physical cards can be given to staff and management, while virtual cards are ideal for bill payments, travel arrangements, and recurring expenses.

This dual card option caters to diverse spending needs, providing a versatile solution for businesses. The ability to manage both types of cards seamlessly from desktop or mobile devices adds an extra layer of convenience.

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

6. Customizable Rules & Spend Limits

PEX allows businesses to set customizable rules and spending limits for each card or group. This feature provides granular control over how funds are utilized, ensuring that expenses align with organizational policies.

Tailoring approved categories and spending limits allows businesses to adapt the platform to their specific needs, whether for individual employees or departments. PEX’s focus on customization empowers businesses to maintain financial discipline and allocate resources effectively.

You might also like: Should You Open a Citibank Commercial Card Account?… It Depends!

7. Simplified Grants Disbursement for Nonprofits

Moreover, PEX simplifies grant fund distribution with physical and digital Prepaid Visa® Cards. Administrators gain control through customizable rules, easy cardholder management via the mobile app, and bulk uploads for efficient card distribution.

PEX’s transparency allows tracking of spending, major categories, and fund duration, ensuring effective grant program management.

Frequently Asked Questions

When should you not use PEX?

If you’re looking to make personal purchases or handle transactions unrelated to your business or organization’s expenses, PEX may not be the right fit. PEX is designed for managing corporate spending and isn’t meant for personal use.

Can you use a PEX card at an ATM?

No, you can’t use a PEX card at an ATM. PEX cards are specifically designed for making purchases, payments, and managing expenses. If you need cash, it’s best to use other methods like a traditional bank debit card.

What is PEX payment?

PEX payment refers to the financial transactions made using PEX cards. These cards are part of the PEX expense management platform, offering businesses a streamlined way to handle corporate spending, vendor payments, and other financial transactions.

How old do you have to be to use a PEX card?

To use a PEX card, you generally need to be at least 18 years old. PEX cards are designed for businesses and organizations, and they are not typically issued for personal use by individuals who are under 18.

Conclusion: Is PEX a Good Idea?

PEX is an excellent corporate card with robust features, making it ideal for businesses and nonprofits seeking streamlined expense management. The platform’s prepaid and dynamic credit cards, 1% cash back, and versatile app cater to various industry needs.

Seamless integrations, virtual/physical cards, and customizable controls enhance the overall user experience. PEX’s positive company overview adds to its credibility.

While PEX is a great choice, businesses with specific needs, such as startups or e-commerce ventures, might find alternatives like Brex, Bill Expense, or Shopify Credit more tailored to their requirements. It’s always a good idea to evaluate your priorities and compare several options for any financial offer.

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.

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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.

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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.

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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.

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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.

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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

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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.

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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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Expensify Corporate Card Features & Benefits

Corporate finance becomes more streamlined and advantageous when you take advantage of all of the features of your financial tools. Expensify and the Expensify Card offer an integrated solution, purpose-built to cater to evolving business needs — Let’s take a look at the card features and benefits.

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1. Benefit From Up to 2% Cashback Rewards

Expensify provides you with cashback rewards on every purchase made with your corporate card. The straightforward rewards structure offers 1% cash back on every swipe and an additional 1% for substantial monthly spending exceeding $250,000 across all Expensify Cards company-wide.

This cashback feature can provide tangible benefits as you spend, manage, and optimize your business expenses – For every $1,000 you spend, you can earn up to $20 (it may not seem like much, but it can add up fast).

2. Cash in on Exclusive Partner Discounts

Distinguishing itself through strategic partnerships, the Expensify Card unlocks exclusive perks and discounts from industry-leading partners. As a cardholder, you gain access to a variety of benefits, which can potentially result in substantial savings of up to $75,000.

This cashback structure positions the Expensify Corporate Card as not just a financial tool but a strategic asset for you, seeking cost-effective solutions through collaborative partnerships.

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3. Get Streamlined Expense Reporting

Your Expensify Card goes beyond transactional benefits by offering streamlined expense reporting. The platform allows for seamless expense tracking and reporting, reducing the administrative burden on your finance teams. With an intuitive interface, you can efficiently manage and reconcile expenses, improving your overall financial efficiency.

4. Leverage Travel Benefits

Enhance your business trips with travel benefits, including Expensify Concierge, which includes:

Travel bookings
Free medical advisory
Emergency transport if needed

They offer a more comprehensive travel support system than I expected, which I think the company’s commitment to providing a holistic solution for businesses.

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5. Set Smart Limits on Spending

Your Expensify Corporate Card empowers you with Smart Limits, a nuanced approach to financial control. Tailor spending thresholds for your employees, ensuring financial responsibility and providing flexibility to set limits based on individual roles or departments.

Smart Limits promote conservative financial practices, which contribute to a more controlled and efficient expense management process.

6. Take Advantage of Virtual Cards

Expensify’s Virtual cards provide an additional layer of convenience, allowing for secure online transactions without the need for a physical card. Not only that, but you can generate new cards if/when you need them.

Virtual cards give you financial leeway while maintaining prudent spending practices.

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7. Integrate With the Expensify App & More

Expensify’s commitment to a seamless user experience is evident in the integration between the Expensify Corporate Card and the Expensify app. This integration ensures immediate and reliable syncing of your transactions, providing you with real-time insights into your financial activities.

Then, you can integrate Expensify with your other software tools, including accounting, finance, ERP, travel, and tax, providing seamless data transfer and collaboration between platforms.

The user-friendly experience ensures that you can efficiently track and report expenses without the delays associated with manual data entry.

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Frequently Asked Questions

What does the Expensify card do?

The Expensify Card is a corporate card designed to automate expense tracking. It offers features like Smart Limits, real-time compliance checks, and automatic daily or monthly settlement. Users can gain up to 2% cash back on purchases, and the card seamlessly integrates with the Expensify app for efficient expense management.

How do you request an Expensify card?

You can initiate the request within the Expensify platform, typically through the account settings or the designated card management section. The platform guides you through the application process for a quick and hassle-free experience.

How do you pay your Expensify card?

Payment for the Expensify card is conveniently handled through automatic daily or monthly settlement (your choice). The card balance is automatically paid in full each day or each month from the connected business bank account.

Is Expensify any good?

Expensify is widely regarded as a reliable expense management solution — Its features, including real-time compliance, receipt tracking, and the Expensify card’s benefits, contribute to its positive reputation. Many users like its user-friendly interface and seamless integration capabilities.

Is the Expensify card free?

Yes, the Expensify card comes free with an Expensify account. It has no additional fees, no interest charges, and no commitment. Expensify users can leverage the card’s features and benefits at no extra cost.

Conclusion

In sum, the Expensify Card presents a compelling solution for businesses seeking efficient expense management. Its automation features, cash back rewards, and integration capabilities make it a strong contender in the corporate card landscape.

However, I need to note that Expensify does not report on-time payments to credit bureaus at this time. There are comparable corporate cards you can get that actually help you build business credit, which has the potential to transform your life.

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

Corporate vs Business Credit Card: What’s the Difference?

By Joe

I regularly review business credit cards and corporate card offers on this blog, and I often need to clear up the difference when I’m describing a corporate card offer. Here, I decided to create a resource that explains the differences between corporate vs business credit cards to refer readers and coaching students to.

I’ll explain the differences in a way that’s super easy to understand, and point you to some relevant content so that you can learn more about specific card offers. And, I’ll answer the questions that I hear most often from my coaching students.

This is what’s in store:

The Difference Between Corporate Cards & Business Credit Cards
The Advantages of a Corporate Card
- Can a Small Business Get a Corporate Credit Card?
The Advantages of a Business Credit Card
- Is Your Business Card a Corporate Card?
Frequently Asked Questions
Final Thoughts

Let’s go!

The Difference Between Corporate Cards & Business Credit Cards

Right out the gate, there is one core difference between corporate cards and business credit cards. What is the difference between a corporate card and a business credit card?

While both are used by businesses to improve cash flow, and may come with a line of credit to improve cash flow, the key distinction is in the payment terms:

Business credit cards have a revolving credit line, so you can carry a balance each month and make a minimum payment if you choose.
Corporate cards must be paid in full each billing cycle, whether that be every 30 days (net 30), 60 days (net 60), or a different time frame.

At first glance, it may seem like an easy choice if you’re deciding which card to apply for. Who wants the obligation to pay off your balance when you could have the freedom to pay it off over time?

…Right?

Well, it’s not that simple — Corporate cards are not inferior to business credit cards by any means. Let’s look closer.

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The Advantages of a Corporate Card

The point of a corporate credit card is to streamline financial transactions and manage expenses effectively. Rather than relying on personal credit cards for work-related costs, companies often issue corporate credit cards to employees.

This not only provides a level of convenience by eliminating the need for individuals to front their own money but also facilitates a smoother expense tracking system. A corporate card typically comes equipped with features that helps businesses:

Monitor and manage budgets
Ensure a transparent expense record
Simplify reimbursements
Separate personal and business expenses
Get accurate financial reporting, taxation, and accounting

Furthermore, companies can implement access controls by setting spending limits and specifying where the card can be used, thereby ensuring that expenditures align with approved purposes.

Business Credit card vs corporate credit card

In essence, a corporate credit card serves as a financial tool to enhance the efficiency of business operations, providing both convenience for employees and effective financial management for the company.

Plus, many corporate cards come with added perks like savings on software costs or ad spend. And, many of the newer corporate cards are completely free because of partnerships. So, obtaining one of these cards is like having a membership that offers exclusive access to discounts within a niche business network.

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Can a Small Business Get a Corporate Credit Card?

There is a widely-believed myth that corporate cards are for enterprises and credit cards are for small businesses. The truth is that small businesses can, absolutely, obtain corporate cards.

Corporate cards are typically issued based on business income, not necessarily credit scores. So, if your small business meets the revenue requirements, and you want the card, you might as well apply.

Many corporate cards require at least $4 millions in annual revenue, but some of the newer corporate cards will accept you with as little as $5K per month.

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The Advantages of a Business Credit Card

A business credit card is a line of credit crafted to meet the unique needs of a business. It functions similarly to a personal credit card but is tailored to streamline financial management for companies.

The primary objective is to offer businesses a convenient and efficient way to:

Make purchases
Cover expenses
Maintain financial control
Free-up your personal credit
Get access to substantial lines of credit

Like its corporate counterpart, a business credit card usually provides features such as detailed expense tracking and a streamlined reimbursement process, which contribute to effective financial oversight.

And, some business credit cards offer the ability to issue additional cards to employees with preset spending limits.

The inclusion of rewards and incentives, specifically designed for business-related expenses, adds another layer of appeal. Moreover, responsible use of a business credit card contributes to building the credit profile of the business itself, separate from the personal credit of the business owner.

In a nutshell, a business credit card is a tailored financial tool that enhances the efficiency of business operations by simplifying expense management and providing flexibility in financial transactions.

You might also like: This is How to Leverage Business Credit to Transform Your Life

Is Your Business Card a Corporate Card?

As a business owner, if your credit card is in your company’s name, features detailed expense tracking, and you pay the balance in full each billing cycle, it’s likely a corporate card. However, if it’s in your personal or business name, issued by a bank, and involves revolving reimbursement, it’s probably a business credit card.

Keep in mind, if payments are due in full each billing cycle, it might be a secured business credit card – For clarification, check your card issuer’s information or contact customer service.

You might also like: The Ultimate Tillful Review (+New Secured Credit Offer for Businesses)

Frequently Asked Questions

Does a corporate card hurt your credit score?

No, a corporate credit card typically doesn’t impact your personal credit score. Since it’s usually issued in the company’s name and is the responsibility of the business for repayment, your personal credit history remains separate. However, if you do not pay as agreed, and the card comes with a personal guarantee, this could have a negative impact on your score.

Who is eligible for a corporate credit card?

Businesses that meet the revenue requirements, which may be as high as $4 million per year, are eligible for corporate card accounts. The businesses can then implement their own eligibility requirements and spending limits for staff and employees.

Can I use my corporate credit card for personal use?

Using a corporate credit card for personal expenses is generally discouraged. Corporate cards are intended for business-related transactions. Mixing personal and business expenses can complicate accounting. And, it’s super important to follow company policies regarding card usage.

Who pays for the corporate credit card?

The company is responsible for paying the expenses incurred on a corporate credit card. Corporate cards are issued by the company to streamline business-related transactions, and the company covers the costs directly.

What's a good credit card for a small business?

There are several options for small business credit cards. Popular choices include the Chase Ink Business Preferred and several options from Bank of America. Some of my favorites are from small community banks and credit unions. The best card depends on your business’s specific needs, such as rewards, expense management features, and credit limits. See the best credit cards for entrepreneurs.

Final Thoughts

So, corporate cards and business credit cards are a bit different. Business credit cards let you carry a balance, but corporate cards need full payment each month.

Corporate cards are awesome—they make business money matters smooth, help track expenses, and even come with cool perks. And, small businesses, not just big ones, can get corporate cards.

Business credit cards are cool too—they’re like personal cards but for your business. They’re handy for buying stuff, covering expenses, and earning rewards.

Check out different cards based on what your business needs. Got questions? We’ve got answers, from credit scores to who foots the bill. Whether you go corporate or stick with business, there’s a card for every business owner’s wallet.

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

Full Shopify Credit Review: Are the Cashback Rewards Legit?

By Joe

If you landed here, you may have received an invitation to apply for a “Shopify credit card.” And, since this offer was only unveiled a few months ago, you’re not going to find a lot about it on Reddit or other forums.

Not only this, but if you try searching for details about the card, you’ll mostly see Shopify’s own marketing content, reviews that may have been written by affiliates, and information about Shopify Capital (which is a separate offer)

…This is probably going to change in the future as the Shopify Credit offer has time to spread its wings. Still, you need to know more about the card before you apply or accept an offer.

→ Recommended: 7 Best Cash Back Corporate Cards to Explore

So, here, I’m going to explain the offer and a little bit about the company, share some features and benefits of the card, and compare it to some close competitors. Then, I’ll answer a few of the top questions people are asking.

Here’s what’s in store:

What is Shopify Credit?
- Business Credit vs Corporate Cards
- Shopify Company Overview
Shopify Credit Features & Benefits
Shopify Credit Alternatives
Frequently Asked Questions
Conclusion: Is This Card Offer Worthwhile?

Let’s dive in!

What is Shopify Credit?

Shopify Credit is a pay-in-full, so-called “business credit card” tailored for entrepreneurs — It offers a straightforward and transparent financial solution with no fees, no interest, and up to 56 days to pay for purchases.

Considering the way the card is set up, it’s actually a corporate card, not a business credit card (more on that in a minute).

Shopify Credit is designed to support business cash flow with a flexible spending option for everyday business expenses, such as:

Marketing and Advertising
Shipping and Fulfillment
Wholesale

Shopify sellers can easily check their eligibility online and receive quick decisions based on business performance rather than credit scores. And, they can enjoy the convenience of a Visa®-branded card accepted pretty much everywhere globally (i.e. wherever Visa is accepted).

The card also comes with the added benefit of cashback rewards, allowing users to earn up to 3% cashback on eligible purchases in their top spend category and 1% on the other two categories. With no catch and a focus on simplicity, Shopify Credit aims to empower businesses by providing a reliable and rewarding financial tool.

Business Credit vs Corporate Cards

Business credit cards and corporate cards serve distinct purposes in the realm of business financing. Business credit cards are typically designed for small to medium-sized enterprises and individual business owners, offering a convenient and flexible means of covering day-to-day expenses. They often come with features like cashback rewards and expense tracking.

On the other hand, corporate cards are generally intended for larger enterprises and are issued to employees for company-related expenses. Corporate cards may come with more extensive expense management tools and customization options tailored to the specific needs of large organizations.

Shopify credit gives you the best of both worlds. Still, the offer is more closely related to contemporary corporate card offers than business credit cards, which allow you to carry a revolving balance.

You might also like: What’s the Best Payment Processor for a Small Business? Really

Shopify Company Overview

Established back in 2004, the Canadian powerhouse known as Shopify (aka Shopify Payments or Shopify Data Processing, if you’re feeling fancy) has grown into a publicly-traded juggernaut valued at $1.3+ billion.

Every online merchant has heard about their game-changing online sales platform that’s been rocking the eCommerce scene. Now, I won’t dive too deep into the intricacies of Shopify’s credit card processing capabilities or the Shopify credit card reader.

Instead, let’s shine a quick spotlight on the backstory of Shopify Credit.

Shopify’s initiatives kicked off in April 2016, when they started offering merchant cash advances, and since then, they’ve pumped out billions in funding for sellers worldwide. Shopify Credit was launched more recently in July 2023.

It’s worth noting that all the financial mojo behind Shopify Capital comes courtesy of WebBank, a player affiliated with the likes of Dell Business Credit, LendingClub, and Capital on Tap (not my favorite business funding offers).

Meanwhile, Shopify Credit is issued courtesy of Celtic Bank, a modest brand with a tremendous reach.

Shopify Credit Features & Benefits

Okay, are you ready to dive into the details? Here’s a summary of who can qualify for Shopify Credit and everything you can expect if you pull the trigger on this one.

You might also like: What are the Best Unsecured Business Credit Cards for Startups?

Shopify Credit Card Terms & Fees

Shopify Credit is essentially free:

No annual fee
No foreign transaction fees
No setup fees

This offer is all about straightforward transactions to help keep more money in your business.

With up to 56 days to settle bills (net 56) and zero late fees, Shopify Credit offers a relaxed payment period, giving you ample time to manage your business finances. This can help you manage your finances pretty easily.

Many tradelines like this report on-time payments to credit bureaus. I couldn’t find out any information on the Shopify website about whether on-time payments are reported to credit bureaus. So, I first reached out to Celtic Bank who referred me back to Shopify.

According to Shopify’s AI chat assistant, on-time payments on the Shopify Credit card are not reported to business credit bureaus. I’m not 100% confident in the accuracy of this answer, so if you know otherwise, please let me know.

FInally, over time, you can watch your credit limit expand as your business succeeds – Periodic reviews ensure your credit line grows with your business, which offers some financial flexibility without constant paperwork.

You might also like: Using 30 Day Net Vendors to Build Your Business Credit Score

Cashback & Bonus Offer

In addition to being a free card, Shopify Credit offers cashback and bonuses.

With this card, you can earn rewards customized to your business essentials:

3% cashback on your top spending category
1% on the other two, recognizing your business efforts.

There is a catch here, though — a pretty big one. In order to earn rewards, you must use your card for spending in the three approved categories (marketing and advertising, shipping and fulfillment, and wholesale).

Card spending must take place with one of Shopify’s partners to qualify for cashback:

Category	Providers
Marketing & advertising	Google, Meta, TikTok, Pinterest, Snap, Twitter, Microsoft, Shopify Email, Klaviyo, Mailchimp, Instafeed, Yotpo SMSbump, Yotpo product reviews and UGC, Yotpo subscriptions, Yotpo loyalty and rewards, Loox, Privy
Shipping & fulfillment	USPS, UPS, DHL Express, Flexport, Pirateship, Shopify Shipping, Shopify Fulfillment Network, Shipsurance, Shipstation, Shippo, Aftership order tracking, Aftership shipping + labels, Aftership returns, Parcel Panel Order Tracking
Wholesale	Faire

Chances are, if you’re successfully selling on Shopify, you are spending with some of these brands — so, the Shopify Credit card gives you a chance to earn/save on some of that spending.

Shopify also advertises a $2K Shop cash welcome bonus for eligible spending — as of today, this is still up on the website:

Sadly, this offer expired on October 31, 2023…if you accept a card offer after this date, you will not qualify for the $2K welcome bonus (I triple-checked).

Shopify Credit welcome bonus has expired

As with most corporate and credit cards, there will probably be more introductory offers in the future – be sure to keep your eyes peeled…and always read the fine print.

You might also like: This is How to Leverage Business Credit to Transform Your Life

Shopify Credit Requirements

You might be pleasantly surprised to learn that Shopify does not do a credit check. Shopify Credit is offered by Shopify to eligible merchants. Merchants don’t necessarily have to seek it out actively; instead, Shopify may extend offers to qualified merchants based on their business performance, so you don’t need a particular credit score to qualify.

But, you do need a few other things:

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

You may receive notifications or invitations to apply for Shopify Credit, and the application process is typically straightforward. Eligibility is based on your business performance, and decisions can be made within minutes.

Shopify Credit Alternatives

I’ve reviewed quite a few free corporate fintech cards here on this blog, and a handful of them are very close contenders with Shopify Credit:

While I don’t like to play favorites, my favorite corporate card is Divvy – I have this card, I use it, and I love it because of its user-friendly features and expense management tools.
Brex is another super popular corporate card. You’ll need a high-performing business to qualify. And, if you get this card, you’ll have the opportunity to save on business expenses like travel and online advertising.
Next, Stripe Corporate is a close contender and may be a better fit if most or many of your Shopify store transactions are run through the Stripe payment platform. This card offers features tailored for Stripe users, but it’s available by invitation only, with specific requirements.
This list would be complete without Ramp, which focuses on providing real-time insights into your company spending and helps control costs.
While the next card wouldn’t be my top choice for most online sellers, Bank of America’s Corporate Card is worth mentioning here because of its benefits and rewards, especially if you’re already using BoA for business banking.

The best card for you is going to depend on your current setup, whether or not you’re willing to make some changes, and how quickly you need access to a corporate card.

Frequently Asked Questions

How does Shopify give you money?

Shopify offers two types of merchant funding: Shopify Capital and Shopify Credit. Shopify Capital provides funding through merchant cash advances based on sales history, with repayments tied to a percentage of daily sales. Shopify Credit, on the other hand, offers a fee-free credit card with cashback rewards, providing additional funds for business expenses based on sales performance. Both options give eligible merchants access to capital to support their business growth.

Does Shopify Credit affect your ability to qualify for Shopify Capital?

No, applying for Shopify Credit does not impact your Shopify Capital eligibility. The two operate independently, allowing merchants to leverage both financial tools to support different aspects of their business needs.

What is the Shopify Credit card fee?

The Shopify Credit card is fee-free, with no annual fees, foreign transaction fees, or setup fees. This transparent fee structure aims to provide simplicity for merchants, allowing them to focus on their business without concerns about additional charges.

Will a Shopify Credit card help you build business credit?

No. Shopify Credit is not technically a credit card and on-time payments made toward your account balance will not be reported to business credit bureaus.

Conclusion: Is This Card Offer Worthwhile?

Wrapping it up, Shopify Credit and its cashback rewards seem to be a pretty legit deal under the right circumstances — The card offers a straightforward, fee-free experience with up to 56 days to settle bills, and zero late fees.

While the card is relatively new and might not be buzzing just yet, it offers simplicity, quick eligibility check, and no credit score hassles. These features make it a solid choice for some online sellers.

The cashback adds a nice touch, providing cardholders with tangible benefits for their business spending – but it’s a shame they’re still advertising the bonus offer when it’s actually unavailable. And, I am not stoked that the card doesn’t report payments to credit bureaus.

With that said, I still like Divvy, and I would choose it over Shopify Credit, depending on whether or not my operations were the right fit. In full transparency, I’m not a Shopify seller, I’m a business credit coach and investor.

If you want to learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today!

9 Best eCommerce Credit Cards (Online Sellers’ Guide)

By Joe

eCommerce is a fast-paced industry – On top of managing your inventory and making sales, you have to handle logistics, maintain relationships with suppliers, and keep your customer service on point while you maintain momentum. In the meantime, you need the right financial tools. Business credit cards and corporate cards can streamline your money operations.

So, what are the best credit cards for eCommerce?

You’ve landed on a deep dive here, which you can use to determine exactly what card is right for you and your online store. If you don’t already know, you’ll learn the difference between business credit cards and corporate cards, find out what to look for in a card, and browse a list of the best cards for business owners in the online sales niche.

(Quick note: we’re not talking about consumer credit cards for online shopping.)

Here’s what’s in store:

Navigating the Plastic Jungle: Business Credit vs. Corporate Cards
Best Business Credit Cards for eCommerce
Best Corporate Cards for eCommerce
Frequently Asked Questions
Final Swipe: Master Your Business Finances

Now, let’s jump in!

Navigating the Plastic Jungle: Business Credit vs. Corporate Cards

Alright, buckle up — it’s decision time. You’ve got your eye on that shiny piece of plastic, but should it scream “business” or “corporate”? Let’s break down the rumble between these heavyweights.

Business credit cards are designed for companies who need a line of credit that can carry a balance each month. You would choose a business credit card over a consumer credit card because of the tailored rewards and features and the ability to obtain larger lines of credit…The transition to business credit can change your life.

Meanwhile, corporate cards typically have to be paid in full each month and tend to come with a range of advanced features like real-time expense tracking, budget controls, and integration with your business tools and software.

In a nutshell, both types of cards may offer rewards like cash back or discounts with technology partners (though this is a fairly new offering from contemporary corporate cards). So, you might get a business credit card when you need a cash flow boost for your company and a corporate card when you need better financial management – And, many businesses use both.

Best Business Credit Cards for eCommerce

Opting for a business credit card is a savvy move, especially for eCommerce ventures. It provides the flexibility needed to navigate the dynamic landscape of online businesses.

Look for a business credit card tailored to eCommerce that offers rewards and benefits specifically relevant to your industry.

Focus on features like:

Bonus points for online advertising
Shipping perks
Cash-back options for your predominant business expenses

Generally, a good business credit card for eCommerce should align with your spending patterns and provide valuable rewards that can be reinvested or used to enhance your online operations.

Now, let’s take a look at the best eCommerce best credit cards.

You might also like: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth

1. Amazon Business Prime Card from Amex

The Amazon Business Prime American Express Card is a fantastic choice for Amazon sellers looking to maximize their business expenses. With this card, you enjoy flexible payment terms, allowing you to carry a balance if needed.

The Annual Percentage Rate (APR) is competitive, offering financial convenience.

What makes this card stand out are the rewards – you earn 5% back or 90 days interest-free on U.S. purchases at:

Amazon Business
AWS
Amazon.com
Whole Foods Market

Additionally, you earn 2% back at:

Restaurants
Gas stations
Wireless telephone services

For the online seller crowd, this card is a boon, especially for those heavily invested in the Amazon ecosystem. The 5% back on Amazon Business purchases can significantly boost your bottom line, making it a go-to choice for Amazon sellers looking to make the most out of their business spending (it might be the best card for those with an Amazon seller account).

You might also like: Amazon Corporate Credit Line – The Ultimate Guide

2. Amex Business Gold Card

The American Express® Business Gold Card is a solid choice for online sellers, offering flexibility and rewards tailored to business needs. While it’s no Centurion (the credit card the Kardashians use), with this card, you enjoy a dynamic payment structure, allowing you to carry a balance when necessary.

The APR is competitive, ensuring financial convenience. What sets this card apart are the rewards – you earn 4X Membership Rewards® points on two select categories where your business spent the most each billing cycle, up to the first $150,000 in combined purchases from these two categories each calendar year.

The U.S. reward categories include:

Airfare purchased directly from airlines
Purchases for advertising in select media
Purchases at gas stations
Purchases at restaurants
Purchases for shipping
Computer hardware
Software
Cloud computing purchases

These perks make it a great fit for a variety of online sellers, including those invested in advertising, travel, and technology. The flexibility in reward categories makes it adaptable for a range of business expenses, making it an attractive option for Etsy sellers, Shopify sellers, and those using various online platforms.

3. Chase Ink Business Preferred Credit Card

Best credit card for online sellers United States

The Ink Business Preferred® Credit Card from Chase Bank is a stellar choice for online sellers, particularly those with diverse business expenses. With this card, you enjoy favorable payment terms and a competitive APR for financial flexibility.

The standout feature is the generous rewards program – you earn 3 points per $1 on the first $150,000 spent on combined purchases in categories like:

Travel
Shipping
Advertising

The points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® program. For online sellers, this card is especially appealing because of its broad reward categories, making it suitable for various business expenditures.

Whether you’re into advertising on social media, frequently shipping products, or managing travel for business purposes, the Chase Ink Business Preferred® Credit Card caters to a wide range of online sellers, including those using payment platforms like Shopify and Stripe.

4. Chase Ink Business Unlimited Credit Card

Can you get a business credit card for an Etsy shop?

The Chase Ink Business Unlimited® Credit Card is a straightforward and rewarding choice for online sellers seeking simplicity and flexibility. This card comes with uncomplicated payment terms and a competitive APR, offering financial ease.

What makes it appealing is the straightforward rewards structure – you earn 1.5% cash back on every purchase with no limit.

This flat-rate cash back is particularly beneficial for online sellers who want a hassle-free way to earn rewards on all their business expenses. Whether you’re selling on Amazon, Etsy, or running your own Shopify store, the simplicity of earning a consistent 1.5% cash back on everything can be a real advantage.

It’s an excellent fit for those who prefer a no-frills approach to rewards and want to maximize their earnings across the board without worrying about category restrictions.

You might also like: What are the Best Unsecured Business Credit Cards for Startups?

5. The Amex Blue Business® Plus Credit Card

Best eCommerce credit card for small business

The Blue Business® Plus Credit Card from American Express is a fantastic choice for online sellers looking for flexibility and rewards. With this card, you enjoy a 0% introductory APR on purchases for the first 12 months, providing a cushion for business expenses.

After the introductory period, a competitive APR comes into play.

The standout feature is the Membership Rewards® program, where you earn 2X Membership Rewards® points on the first $50,000 spent annually, and 1X points thereafter.

This makes it an excellent option for online sellers with moderate to high business expenses, offering a solid return on everyday purchases. Whether you’re an Etsy seller, a Shopify entrepreneur, or use various online platforms, the Blue Business® Plus Credit Card is versatile.

With this card, you can earn points on a broad spectrum of business expenditures (it’s a valuable addition to any online seller’s toolkit).

You might also like: How to Get a Business Credit Card – The Ultimate Guide

Best Corporate Cards for eCommerce

Now, a corporate credit card is a strategic choice for larger eCommerce enterprises dealing with more substantial budgets and intricate financial needs.

If you’re going to go this route, you should opt for a corporate card that integrates seamlessly with eCommerce platforms, which facilitates efficient transactions.

Look for advanced features like:

Real-time expense tracking
Customizable spending limits
Integration capabilities with your eCommerce tools

Overall, a good corporate credit card for eCommerce should empower your business with tools for precise financial control, ensuring smooth transactions, and streamlining overall financial management.

Okay, time to level up your game…Let’s look at the top eCommerce corporate cards.

1. Stripe Corporate Card

Advantages and disadvantages of credit card in eCommerce

The Stripe Corporate Card is tailor-made for businesses, particularly those engaged in online transactions using the Stripe platform. With this card, online sellers benefit from a streamlined payment experience, as it’s directly integrated with the Stripe payment system.

The Stripe Corporate Card doesn’t charge annual fees, and it offers a straightforward cash back system — You earn 2% cash back on your top two spending categories each month, providing flexibility for different business needs.

This card is especially appealing to sellers using Stripe for payment processing, such as those with eCommerce stores, subscription services, or online marketplaces. The seamless integration with Stripe simplifies financial management, making it a practical choice for businesses heavily reliant on this payment gateway.

Whether you’re selling on Shopify, WooCommerce, or managing a subscription-based business, the Stripe Corporate Card can enhance your financial efficiency and provide rewards tailored to your spending habits.

2. Brex Corporate Card

The Brex Corporate Card is a standout choice for modern businesses, particularly those with a tech-savvy and entrepreneurial spirit. One of its most notable features is that it doesn’t require a personal guarantee, making it an attractive option for startups and online sellers with fluctuating income.

With Brex, you get a 60-day interest-free period, allowing some breathing room for cash flow management.

The rewards program is geared towards business expenses, offering:

8x points on rideshare
5x points on travel booked through Brex
4x points on Brex Travel
3x points on restaurants
1x points on everything else

This makes it an appealing option for online sellers who frequently travel, use rideshare services, or entertain clients. The tech-friendly nature of the card and its rewards structure align well with the needs of online businesses, particularly those utilizing platforms like Shopify.

In all, it caters to a range of expenses often associated with eCommerce and modern business operations.

3. Divvy Corporate Card

The Divvy Corporate Card is a game-changer for businesses looking to streamline expense management. This card offers a unique approach, with no annual fees and a 0% APR.

Divvy’s standout feature is its real-time expense tracking and budgeting tools, allowing businesses to stay on top of spending effortlessly – Users can allocate budgets to different teams or projects, making it a great fit for online sellers with diverse expenditure areas.

While it doesn’t offer traditional rewards points, the value lies in its smart financial tools, providing a comprehensive overview of expenses.

This card is particularly attractive to online sellers who value transparency and want to efficiently manage their budgets across various categories. Whether you’re selling on Amazon, Etsy, or running a business on Shopify, the Divvy Corporate Card can be a practical choice for those who prioritize real-time expense tracking and want to optimize their budget allocation.

4. Shopify Credit

While it’s called Shopify “Credit,” this offer is actually more akin to a corporate card. Shopify Credit is a straightforward and accessible financing option tailored for businesses operating on the Shopify platform.

With no interest or fixed payments, it’s an attractive choice for online sellers looking for flexibility. Shopify Credit is automatically available to eligible businesses, and the credit limit is based on the merchant’s sales history and account health.

This makes it a convenient option for Shopify sellers who may need extra capital to invest in inventory, marketing, or other business needs. The absence of traditional interest charges and fixed payments allows sellers to align repayments with their sales cycles.

Whether you’re a small boutique or a growing eCommerce enterprise, Shopify Credit provides a hassle-free way to access funds and invest in the growth of your online business.

You might also like: Shopify Capital Review: What are the Benefits & is it Worth it?

Frequently Asked Questions

Which credit card is best for eCommerce?

It depends on your style. Amazon Business Prime Amex or Chase Ink Preferred offer perks for online sellers. If you prefer simplicity, Chase Ink Unlimited gives a solid 1.5% cash back on everything. Stripe or Shopify corporate cards are great if you’re deep into those platforms.

Which credit card do most millionaires use?

Millionaires dig premium perks. Think Amex Platinum or Chase Sapphire Reserve for travel benefits and VIP treatment.

What is the role of credit cards in eCommerce?

Credit cards make online shopping smooth and secure for customers. For businesses, they’re the go-to for flexible spending, earning rewards, and managing cash flow. Stripe and Shopify corporate cards add extra perks for online sellers.

How do I use credit cards for eCommerce?

Pick a card that fits your vibe. Use it for online buys, ads, shipping – the works. Track spending, set budgets, and if you’re on Stripe or Shopify, their corporate cards make life easier. Just keep it responsible to avoid any money headaches.

Final Swipe: Master Your Business Finances

In the dynamic world of eCommerce, where every click counts, having the right financial tools can be a game-changer. At this point, you should have an understanding of the intricate landscape of business and corporate credit cards.

Whether you’re diving into the flexibility of business credit cards tailored for eCommerce like Amazon Business Prime Amex or Chase Ink Business Preferred, or taking on the advanced features of corporate cards like Stripe or Brex, you’re now armed with the knowledge to make informed decisions.

Remember, it’s not about the flashiest card; it’s about the one that aligns with your business rhythm. So, choose wisely, swipe confidently, and let the perks roll in. Your financial adventure awaits!

If you’re interested in learning how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today!

Should You Open a Citibank Commercial Card Account?… It Depends!

By Joe

Citibank commercial cards are some of the best-known traditional spending management cards used by businesses in the U.S. — they’ve been around for ages and currently service over 6 million cardholders. But, with so many options, how can you be sure Citibank’s offer is right for you?

Here, we’ll explore the corporate card offer in full, including details about features, eligibility, benefits, and fees. Then, we’ll find out which businesses might get the most out of an account.

This is what’s in store:

What is a Commercial Card Account?
- What is the difference between individual and commercial credit?
Citi Company Overview
Types of Citibank Commercial Cards
Citibank Commercial Card Benefits & Rewards
Who is Eligible for Commercial Card Accounts?
Frequently Asked Questions
Final Takeaway

Let’s do this thing!

What is a Commercial Card Account?

Before we examine Citibank’s commercial card offer, let’s define a commercial card — it is not the same as a business credit card, though in some ways they are the same.

Commercial card accounts are also known as corporate cards. This type of account enables companies to offer cards to staff members and contractors to make purchases on behalf of the business.

A business might want a commercial card account to keep track of internal spending and/or to increase cash flow to maintain or grow operations. Unlike credit cards, corporate cards typically require that the balance is paid in full each billing cycle (with net 30 terms in place of revolving terms).

What is the difference between individual and commercial credit?

In the simplest terms, commercial credit is extended to a business entity while individual or “consumer” credit is extended to a person. With commercial credit, the lender uses the business’ employer identification number (EIN) as an identification number, while consumer credit is extended via the individual’s social security number (SSN) or individual tax identification number (ITIN).

Sidenote: In the U.S., SSNs are dispensed by the Social Security Administration (SSA) whilst EINs and ITINs are assigned by the Internal Revenue Service (IRS).

This might go without saying, but another difference between the two is that commercial credit should not be used for personal expenses. Meanwhile, individual credit can be used for personal and business or work-related expenses.

You might also like: What’s the Best Payment Processor for a Small Business? Really

Citi Company Overview

Citi, aka Citi Group, the company that funds Citibank commercial cards, is a late-stage, for-profit company based in New York. The company has been around since 1812 under various names and has nearly 180K employees on LinkedIn, so this is a trustworthy financial service provider.

Citi offers traditional banking and wealth management services: Checking and savings accounts, credit cards, term loans, mortgages, and investing.

Types of Citibank Commercial Cards

Citibank offers six different types of commercial cards for businesses: Corporate Cards (T&E), Central Travel Accounts, Purchasing Cards, Meeting Cards, “One” Cards, and Project Cards. Citi also offers virtual cards.

All Citi Commercial accounts are individually billed in full within 25 days of the invoice date and are the liability of the company, not the individual cardholder.

Keep in mind that these cards can be used in tandem. So, you might consider more than one of the options below. Let’s take a look at what each has to offer and who will get the most from each of them.

1. Corporate Card (T&E)

Citibank’s Corporate Card is designed to help businesses capture travel and expense related spending — think airfare, transit, hotels, restaurant, and taxi or rideshare costs. This card helps to streamline administrative costs via the company’s expense management system. Citibank advertises the Corporate Card as a solution with “flexible parameters” meaning the spending is not strictly limited as compared to a Central Travel Account.

This card is a good fit for businesses with employees that spend on business-related travel, dining, and transportation. It is not well-suited for a business that needs to keep track of other types of spending, nor contractor or freelancer spending made on behalf of the company.

2. Central Travel Account

A Central Travel Account with Citibank provides businesses the opportunity to manage and monitor non-employee spending made through travel management companies. The key benefit is centralized account data reporting — essentially, this type of account is great for tracking and controlling travel-related expenses.

The Central Travel Account is best suited for companies with freelancers, contractors, and recruits that will travel on behalf of the company, but don’t have a Corporate Card assigned to them. This card is not a good fit for non-travel expenses or employee T&E spending.

3. Purchasing Card

Purchasing Cards from Citibank are traditional, plastic cards that can be assigned to employees or internal departments for a broad range of business spending. While they can be used to purchase almost any goods or services, the admin panel provides businesses with control over policy compliance to ensure that employees can’t overspend or use their cards for personal expenses. An account like this can help a company eliminate staff purchase orders and invoice processing.

Citibank’s Purchasing Cards are appropriate for businesses with employees who need to make a broad range of purchases (replenish inventory, order services or repairs, pay contractors, etc.). For spending in specific categories like travel or event planning, a Corporate Card or Meeting Card might be a better fit.

4. Meeting Card

That brings us to Citibank’s Meeting Cards — these cards are designed to provide businesses with transparency into the total cost for event planning, including in-person, hybrid, and virtual meetings or seminars. This gives companies the opportunity for more control over spending, compliance, and supplier negotiations. Meeting Card accounts are integrated with Cvent, a leading meeting and event (M&E) platform.

A Meeting Card is perfectly suited for businesses with event planners or managers who book meetings on behalf of the company and need to pay for goods and services to organize these meetings. On the other hand, it’s not great for any other type of spending.

5. One Card™

One Card is Citibank’s way of combining the features of their Purchase and Corporate cards into one user account. So, it’s good for employees with travel-related and miscellaneous spending needs. Rather than give a staff member two cards for various spending, you can use One Card. Then, track and manage spending with admin controls.

Citibank’s One Card is great for companies who would like to provide employees with cards that can be used for a broad range of spending: T&E plus general business expenses. Now, this is not a good card for contractors, freelancers, or event managers.

6. Project Card

The Project Card by Citi is a card designed with an expiration date and exact spending limit in mind. These cards provide a more conventional solution to temporary projects than a virtual card. Project Cards are physical, plastic cards that can be given to cardholders discreetly.

As the name suggests, Citi’s Project card is best for North America-based companies that hire consultants, freelancers, and contractors to complete business projects and want a temporary spending solution with total control over limitations on spending (time and money). This card isn’t awesome for long-term projects with flexible budgets.

Citibank Commercial Card Benefits & Rewards

You’re in it to track and manage company spending — This section is where you’ll learn whether Citi’s corporate card offer is right for you or if you should look elsewhere for a solution.

i. Earn points on most spending

For every dollar spent on anything other than excluded spending (transaction fees, etc.), Citibank commercial cardholders earn one point. Points become available within 35 days from the time they are earned and can only be redeemed by the account holder.

The rewards program for Citibank commercial accounts is managed at thankyou.com.

Points can be redeemed toward shopping, gift cards, travel booking, or as cash rewards.

Shopping: Shop with participating merchants like 1-800Flowers, Best Buy, Amazon, PayPal, Walmart, or CVS to redeem. Points can also be put toward fuel purchases at select gas stations including BP, Amoco, and Shell.
Gift Cards: With Citibank reward points, you can purchase gift cards from 175+ major retailers like Macy’s, Nordstrom, and Fandango.
Cash Rewards: As with most card reward programs, you can use your Citi points as a statement credit, direct deposit, or request a check by mail.
Travel: When you plan your next trip, check your Citi points balance, since you may be able to redeem your earnings toward flights, cruises, hotels, cars, or deals. Thank You™ points can also be transferred to select travel rewards programs.

As far as points redemption toward shopping or gift cards, I think some of the newer corporate card offers have an edge — Citi provides deals on consumer offers while the more new-age cards are more business-focused.

For example, Brex offers rewards toward spending with AWS and provides deals on products that will help you grow your business — Discounts on billboard advertising and executive coaching might be more exciting for a lot of business owners than a $10 Amazon gift card.

It’s not that business owners don’t appreciate consumer offers (plus, everyone has someone they need to buy a gift for). I just think it’s worth pointing out that some of the newer corporate account offers have more innovative, and possibly more relevant, benefits and rewards.

ii. Virtual Cards

Citibank business credit card pre approval

While virtual cards originally made some of the breakout corporate card offers stand out, it’s now pretty standard with today’s commercial accounts (which doesn’t mean it’s not a great benefit).

Virtual cards offer business owners the chance to instantaneously create throwaway cards for one-time, probationary, or temporary use. With a Citi commercial card account, you can integrate virtual card accounts into your system to create, modify, or cancel payments and set spending limits in real-time.

While the software and subscription companies probably frown on this practice, I’ve seen people use virtual cards as a way to get into a free trial without a lot of risks. Once the card expires, so does the trial. So, they can be used to eliminate the need to monitor trial sign-ups, which is especially helpful for startups and fast-growing companies that are changing up their operations frequently.

iii. Worldwide Payment Acceptance

The ability to spend across the globe is super important for many businesses, especially when considering which travel management solutions to go with. Citibank’s corporate cards are accepted by over 54 million merchants in 66 currency markets across more than 100 countries.

Citibank corporate cards are accepted by most airlines, car rental agencies, restaurants, and major lodging establishments. So, with this card, you won’t have to worry a lot about whether or not usual travel expenses can be paid with your card.

While I haven’t had this problem yet, getting turned down when using a newer corporate card like Brex or Divvy is a potential issue. This is not a typical problem with conventional competitors like Bank of America or Chase.

iv. CitiManager™ App Overview

You can access CitiManager as an admin or a cardholder, to take advantage of card features, track and report on spending, and manage preferences.

Here’s the gist of what the app provides:

Cardholders: Access your account from anywhere at any time of day. Check your card or account balance and spending limit. View statements from the past six months. And, see recent transactions.
Administrators: View card pins, activate new cards, and pay bills. Post and view comments to communicate with other admins. See transaction and invoice details and display dual currencies.

I have not used the app myself, so I can’t speak to the validity of these claims, but I feel like they’re worth a mention:

The CitiManager app may not have some basic, expected features like travel notifications, and some users complain that it’s glitchy — in fact, some app users on the iOS platform recommend accountholders stick with the basic Citibank app, which has been around longer. Still, it maintains a 4.8/5-star rating, which isn’t bad.

Who is Eligible for Commercial Card Accounts?

Citi only offers commercial card products to existing Institutional Clients Group (ICG) or Commercial Bank (CCB) clients. If you are not an existing ICG or CCB client, Citi won’t pursue an inquiry for any of the above commercial cards.

CCB and ICG provide commercial banking solutions for companies with $10 million annual revenue and up. Their solutions include capital markets advising, commercial banking, securities services, and card and loan issuer platforms.

If you aren’t eligible for either of the above, another corporate card offer is probably a better fit. If you are eligible, and you like this offer, you should reach out to a Citi sales representative to find out which options are best for you.

Frequently Asked Questions

What is a commercial credit account?

A commercial credit account is a “pay-as-you-go” business spend management account with a credit limit. In most cases, these accounts are paid in full each billing cycle — they don’t typically offer revolving terms like business credit cards.

Does Citi verify income?

Yes. If you apply for a loan, line of credit, or corporate account with Citibank, they will verify your income. This goes for personal and business accounts.

What FICO score does Citibank use?

Citi uses Experian to inquire into consumer credit applications. For business accounts, they use Experian Business.

Does Citi business check personal credit?

Yes, when you apply for a business credit card with Citibank, they will check your personal credit. In most cases, this does not apply to standalone corporate card accounts.

What credit score do you need for a Citibank business credit card?

You will need a personal FICO score of 700 or higher to qualify for a Citi business credit card. This does not apply to standalone corporate card accounts.

Is a Citi business credit card easy to get?

No, qualifying for a Citibank business credit card requires both excellent personal and business credit.

Final Takeaway

Above, you have a summary of Citi’s commercial card account offer. In a nutshell, the offer may help you monitor and control organization-wide spending within your business. If you like what you see, reach out to a Citi sales rep today, and open an account.

As for those who don’t yet meet the revenue requirements for this offer, there might be hope for you yet. You may qualify for a Citi business credit card. Plus, plenty of other lenders offer spend management accounts for mid-sized companies — Bank of America is one direct competitor worth looking into.

And, you should check out the more innovative offers from Stripe, Amazon, Brex, Ramp, and Divvy before you make a final decision.

If you want to learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today.