By: Armando Herrera, General Manager Cards at Konfío.
Get one Corporate credit card offers various benefits for your deal For example, separating personal finances from business, getting instant liquidity, documenting deductible expenses, and keeping a credit history for your business that can be helpful in the future when you want to get a business loan.
With a growing range of financial products, it’s important to stop and research each one to determine which is the best option for your business. Some of the most important factors to consider are:
- Cost per opening
- Credit limit
- minimum wage
- Protection and coverage.
However, there are other types of benefits to consider, especially with regards to the day-to-day use of your business plastic, such as: B. the experience with the customer. In traditional banking you will find an important variety of cards and plans, but we know that bureaucratic processes can be very bureaucratic. From the application process to customer service for doubts or complaints, these are usually very tedious processes.
Nowadays, modern technology companies have come into the market and some of them offer you to do all of these procedures online, in addition to providing 24/7 customer support through one application without investing valuable time on a phone line.
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The flexibility of your line of credit is also important. As a businesswoman or businessman, you know that you are often responsible for companies with very specific characteristics and that banks tend to divide their customers into very rigid categories. Look for an option that is versatile and tailored to your needs from day one.
Another very important factor is safety. Check what tools you offer to protect against fraudulent activity or to control additional cards. This is especially important for businesses that need more than one card to make it easier to control employee movements, especially when traveling and making other regular purchases. In those cases, you may be interested in more modern options that allow you to enable or disable your cards in an application, or set individual limits per card, and configure warnings for unusual fees or purchases.
When you talk about travel, don’t forget about international coverage. If the card is to be used overseas, it is important to have a backup in order to be able to perform operations outside of Mexico. In addition to the protection that your provider can offer you, we recommend that you create an internal policy on the use of the company card for better control. You can even assign a different line of credit to each company card.
If you need additional cards, you have to take into account that you don’t always have to pay for the expansions. Some companies offer up to a certain number of free cards, while others charge you a fee for each.
One benefit that may not be strictly necessary but is worth it is customization. Think about the possibility of having a card with your company’s image not just as an emotional benefit. Who doesn’t like personalized products? – If not than the kind of attention the financial institution can offer you when it allows you to personalize the card, it is very likely that the attention they will give you will be, in particular.
- Read: Is A Credit Card Right For You During The Pandemic?
Remember, no company is too small to request a business card. It doesn’t matter whether you work as a freelancer or run a business with dozens of people, as long as you meet the requirements of the financial institution of your choice. Hunting for a Card As we’ve seen before, getting some other funding is a very convenient product .