A business credit card offers convenience, peace of mind, and a secondary source of payment at various merchants and service providers. It has become a necessity in today’s corporate payment world when needing to purchase receivables, securing flights for yourself and employees, renting the necessary equipment to run your business, or even securing a reservation for your next potential client.
If managed correctly, it can also be a way to build, improve, and maintain good corporate credit. Essentially a credit card offers a revolving account that provides access to a line of credit with an approved limit. The guarantor promises to pay back any amounts borrowed or charged on their corporate card plus other agreed upon charges including any interest charges that is based on the cost of borrowing those funds for a certain period of time.
Bow Valley Credit Union offers three types of business Visa Credit Cards available for all levels of businesses including sole proprietors, multiple owners in a business, corporations, and not for profit organizations. If managed well the right credit card for your company will also provide some additional benefits and features. It allows business owners the freedom to delegate administrators to manage the account, and authorized users to have access to funds with separate limits on each card. Monthly charges can be combined all into one statement regardless of the amount of authorized card users you have, allowing for easy accounting and balancing at month end.
Everybody loves getting free stuff. Using your Bow Valley Credit Union Business Credit Card makes getting free stuff even easier. Visit collabriacreditcards.ca/bowvalleycu for a look at the myrewards that is offered with our Bow Valley Credit Union Visa business credit cards.