You’ve been mulling over the idea of getting a business credit card for your company. The rewards, cash back, and expense management benefits sound appealing, but you want to make sure you find the right card for your needs.
If you’re looking for a simple, straightforward business credit card that provides solid rewards without a lot of hassle, Corpay business credit cards are worth considering.
They offer a range of cards for small to large businesses with generous rewards rates, flexible expense management tools, and low APRs.
Before you apply for a new business credit card, though, you want to weigh all your options to determine if a Corpay card is the right choice for your business. Let’s take a look at what Corpay business credit cards offer and see if they meet your needs.
Flexible financing and rewards
Corpay business credit cards offer flexible financing and rewards options for your company. You can choose between cards that earn cash back, travel points, or flexible points redeemable for a variety of rewards.
- Cash back cards – Earn bonuses of up to 5% on certain categories, such as office supplies, internet and phone services, or travel, or up to 3% cash back on all other purchases. You may cash in your rewards for statement credits, gift cards, or direct bank deposits.
- Travel rewards cards – If you frequently travel for business, a travel rewards card could be ideal. Earn up to 3 points per $1 spent on all purchases and get extra points for travel and dining. Points can be redeemed for flights, hotels, rental cars and more. Some cards even offer travel perks like airport lounge access or travel insurance.
- Flexible points cards – Want the most rewards flexibility? A flexible points card lets you earn up to 3 points per $1 spent on all purchases. Redeem points for cash back, gift cards, merchandise or travel. The choice is yours.
No matter which card you choose, you’ll get benefits like fraud protection, 24/7 customer service and tools to help manage expenses and set budgets. Review the details of each card to find the best option for your business’s unique needs. Your company’s financing solution is only an application away.
Pros and Cons of Corpay Business Credit Cards Based on Corpay Business Credit Card Reviews
Based on reviews, Corpay business credit cards seem to offer some nice perks for small businesses, but there are a few downsides to consider as well before applying.
Pros:
- generous prizes and awards for signing up. Corpay routinely provides incentives of 50,000 points or more and up to three times the points for every dollar spent in specific areas. Travel, gift cards, among other things, may be purchased with these points.
- No annual fee. Corpay waives the annual fee for the first year and if you spend enough, you can get it waived for subsequent years. This is a big money saver, especially when you’re just getting your business off the ground.
- Benefits like purchase protection. Your Corpay card provides benefits like extended warranties, price protection, and the ability to dispute charges if needed. This extra security and fraud protection is valuable for any business.
Cons:
- High APRs. If you don’t pay the balance in full each month, interest charges can really add up with rates often over 20% APR. Make sure you have a plan to avoid interest before getting a Corpay card.
- Limited acceptance. Corpay cards are not as widely accepted as Visa and Mastercard outside the U.S., so for international expenses you may need a different card.
- Strict credit requirements. It may be difficult to qualify for a Corpay business card, especially if you have a new business. You typically need good personal credit and may need to provide financial details about your business.
Overall, Corpay business credit cards seem best for established small businesses that will pay balances on time and take advantage of the generous rewards and benefits. If that sounds like your business, a Corpay card could be worth considering based on many positive Corpay business credit card reviews. But go in with your eyes open to the potential downsides regarding rates, acceptance, and qualifications.
Who Should and Should Not Get a Corpay Business Credit Card?
If you run a small business, a Corpay business credit card could be a great option to help finance expenses and earn rewards. However, these cards aren’t ideal for every business.
Who should get a Corpay business card?
- Newer businesses looking to establish credit. Corpay reports account activity to business credit bureaus, which can help build your business’s credit profile.
- Businesses with irregular cash flow. The grace period gives you time to pay off purchases interest-free. Use the card when money is tight, then pay off the balance when funds become available.
- Companies wanting simple rewards. Corpay cards offer basic rewards like cash back, gift cards or travel points that any business can benefit from.
Who should pass on a Corpay business card?
- Well-established businesses. If your company already has good business credit, a Corpay card likely won’t provide much benefit. You may qualify for a card with more premium perks.
- Businesses needing large lines of credit. Corpay cards typically only offer $5,000 to $25,000 in initial spending limits. This may not suit companies with high monthly expenses.
- Those wanting premium travel perks. While Corpay does offer some travel rewards cards, the perks usually pale in comparison to other business travel cards.
In the end, think about your business’s needs and credit profile. Corpay can be a simple, accessible option for startups and small companies looking for an easy way to build credit and earn basic rewards. However, more established businesses will probably find better value and perks with other card issuers.
Conclusion
So in the end, the decision comes down to you and what’s right for your business. Corpay business credit cards can be a great option if you want to keep things simple with one provider for all your business financial needs.
The rewards and perks are pretty sweet too. On the other hand, maybe you want more flexibility or customization. There are plenty of other business credit cards out there, so take your time evaluating what’s important for your company.
Just remember, whatever you choose, make sure you understand the fees and terms so you can use the card to your advantage. Your business is your baby, so do what’s best for it! Now go out there, review your options and choose a card that will help your business thrive and reach new heights. You’ve got this!