Corporate credit cards allow a business to exercise superior control over its business-related, travel and entertainment expenses. The majority of people who own large business find it quite hard to keep a track of the business expenses, especially when these people use credit cards (personal) to their lines of credit. One of the best ways to avoid such confusion at later dates is to make use of corporate credit cards that are issued exclusively to corporations as well as non-profit organizations and government entities. Corporate credit cards ease the purchase of goods as well as services by making the payment procedures simple. A business can offer a corporate credit card to the employees so that they can keep a track of business expenses. Such a card when issued to the employees is also referred to as a corporate charge card. A Corporate credit card is issued by a bank or some large financial institution. Features of Corporate Credit Cards You will seldom see a corporate credit card being advertised in the traditional media, because these cards are available as custom-made options, rather than prepackaged products. Here are some of the features of a corporate credit card: Terms for repayment are alike for small business account holders for credit cards. The payment/s can be done on monthly, or bi-monthly and even quarterly basis. Interest rate can vary from 12 percent to 29 percent, which is considerably higher than what the rates are for a small business credit card or a personal line of credit. The difference primarily is because of high credit limit. Annual fees for such a card are low. Maximum limit (credit) on such a card ranges from 50,000 dollars to over a million dollars. A credit card company will usually raise credit limits as and when the corporation undergoes expansion. Benefits of Corporate Credit Cards If you are a business owner, then corporate credit cards will help you with the following: Distinguishing between a business account and a personal account. Receiving detailed statements every month. Transferring cash balances from one account into another. Using credit around the world. Controlling business-related, travel and entertainment expenses. Travelling and making requisite purchases for the business without having to carry excessive cash. It reduces risks of theft as well as check frauds. Simplifying accounting as well as auditing tasks. Applying for Corporate Credit Cards If a corporation wishes to acquire corporate credit cards, then they must: Compare different cards that are being offered by several providers of corporate credit cards to get a deal which is the best in terms of credit terms and interest rates. Give complete information in the application forms, for example the business name, the address, the annual revenue as well as start date. It is also important to mention phone as well as fax numbers, the tax identification numbers, the industry type as well as details of people who’ll be using these cards. Apply for Credit Cards and Live Your Dreams