Personal Credit Cards VS Business VS Corporate: What’s the Difference?
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- Опубликовано: 11 июл 2024
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As an assistant business manager in a school district, I was responsible for administering our corporate card program. We could set a single purchase, daily, or monthly spending limit on each card. We could also limit what was purchased through controls by merchant category code (MCC). Each merchant has an MCC assigned to it, which is probably how your spend categories are determined on your statement. I also believe this is why you can’t get grocery bonuses at warehouse stores since those would have a warehouse and not a grocery MCC. Since we were the custodians of taxpayer funds, we didn’t want cards used for things like alcohol or jewelry. Occasionally there would be a legitimate purchase at one of the controlled merchants (e.g. art supplies from a store considered a jeweler) and I would have to temporarily authorize that code. I thought this information might be helpful for employees holding corporate cards, especially if they have a charge denied and don’t know why. And please be kind to your finance department and don’t use your corporate card for personal use!
Yep, exactly right
Super helpful
What About The Loans That Are for Buying Companies on financing that are Valued in $10^25 for m&a as an example
If your employer has a business centurion card. Lets say the employees have an authorized additonal user credit card under their names. If the employer does not pay off their card on time, does that affect the employees' credit score even though they are not financially responsible for any payments on the account?
Does the corporate card get reported to the employees credit?
Great video!
Never really knew about corporate cards
Great video Ben!
I have a Corporate card and never knew the difference. Thanks for the video!
What are the points multipliers like on the Amex Corporate cards?
1x on everything
Had Amex at IBM and Deloitte and they were both Green (even the partners have greens), I wanna know who is handing out platinum cards to employees.
Do I still get welcome bonus for each version.i currently have vanilla
Yes
I work for a company that mandates that I have a corporate card for travel. Does it add to 5/24?
It shouldnt, but you can check that yourself to be shure. Use credit karma and see if there is an extra credit line in addition to your personal ones
Are you allowed to charge non-business related purchases on a business card?
Well for a small business card, if you are the primary card holder, while not technically supposed to, you can get away with it. Just be aware if you want to be covered by any of the insurances the card offers like trip delay or something, if it isnt a business trip, you may not be covered. But for filling up gas or whatever, there is no way they can know
Had a Corporate Green card for years. Literally nothing special since my company didn't make any perks available to us. It was also lame how we would consistently hit our spending cap, leaving half the company unable to make charges until the accounting department could make their 3rd million dollar-plus payment for the month. Ever been in a foreign country on business and have your company card stop working in the middle of dinner with clients, and you're the one paying? Yeah, I don't recommend it.
One of the reasons why I stopped traveling for work. 😑
🚨 Big thanks to NorthOne for partnering with us on this video. Use my link to apply for NorthOne and get a $10 credit when you open and fund your account: apply.northone.com/ben
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