Business Credit Card vs. Corporate Credit Card

Whether you’re a small, medium, or large sized company, there is a card that is right for you; although it may not be a business credit card. Business credit cards are known to be great for small businesses, corporate credit cards were created for large businesses, and medium sized businesses can go either way. Take a look at the differences below and decide if a small business credit card is in fact right for your business.

Corporate Credit Card
·         Often off-the-shelf cards that banks advertise and have ready to go for you when you walk in the door
·         Issued in the personal name of the small business owner
·         Fairly simple to obtain if the person applying for the card has decent personal credit
·         Limits ranging from $50,000-$300,000
·         Not see advertised in traditional media; custom-tailored options provided by issuers, not pre-existing products
·         Issued in the name of the corporation or non-profit name
·         Custom designed software programs available for tracking, review, and reimbursement purposes
·         Difficult to obtain—the corporation has to establish long credit history
·         Limits ranging from $50,000-millions

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