The compelling case for Corporate Cards Insights HSBC

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• Bleeds are typically an extra 3.175 (1⁄8) to 6.35 mm (1⁄4 in) to all sides of the card.
• Still, many larger companies allow employees to reap the benefits of rewards programs since doing so can improve employee morale.
• UV Coating is not to be confused with coated stock, which has a gloss or semi gloss finish that is applied before printing.
• Corporate cards typically do not require a personal guarantee, and they generally do not require a personal credit check during the application process.

The spending controls and expense management features also help small businesses by giving them a tighter rein on their expenses. The following corporate cards offer similar benefits — high limits, rewards, employee cards, no personal guarantee and expense management tools — and are more attainable for small to medium-sized businesses. If your small business is legally classified as a corporation, has revenue in the millions and has multiple employees who need access to a corporate credit account, it might be time to consider a corporate credit card. Corporate cards do not require a personal guarantee, so it’s a good idea to make sure your business has built up a solid credit history before applying. Corporate cards come in two main types; corporate credit cards and corporate debit cards. Corporate credit cards carry a balance that must be paid off at the end of a billing cycle, whereas prepaid debit cards carry no balance, and instead are linked to a debit account.

Who’s Responsible for Paying a Corporate Credit Card Bill?

Many corporate cards add additional eligibility requirements, such as business size, number of employees, annual income, and the amount of cash you have in the bank. Instead of carrying a balance from month to month, users must pay off their card balance in full regularly. Corporate cards are designed to help companies track and control employee spending and often feature strong financial toolsets. Your business debit cards can also help you to prevent fraud from unauthorized purchases. When you limit the categories of expenses that each card can be used for, your employees cannot purchase anything other than what you have authorized with their commercial cards.

This prevents employees from using their own money and lets the company pay directly, thereby making things easier for both of them. A corporate credit card is similar to a standard business credit card, corporate card meaning at least on the surface. But a corporate card often comes with added tools for tracking spending, free cards for employees, and useful integrations to business software you may already be using.

Meaning of business card in English

Just like any credit card, employees should treat their corporate credit card with care and keep it in a safe place to prevent theft or loss. If a card is lost or stolen, it should be reported as soon as possible so the card can be canceled and replaced. Corporate cards are usually credit-based or charge cards, meaning as per a regular credit card, there’s going to be interest charges if the outstanding debt isn’t paid back within the set timeframes.

When you start to see your company shift from a small startup to an established corporation, it’s time to think about transitioning your financial tools. Company guidelines can help businesses better manage employee expenses, but it’s also important to make sure employees know the rules to prevent misunderstandings and unauthorized charges. It’s not uncommon for businesses to develop a corporate credit card agreement for employees that details the company’s rules and expectations for corporate credit card usage. The basic difference between a business credit card user and a corporate credit card user is that of company size. Corporate credit cards are for companies that have annual revenue of over $4 million.

How do you qualify for a corporate card?

Cardholders who have questions about their employer’s policies should contact the person (or department) that manages the program. Almost any business type, including independent contractors and sole proprietorships, can apply for and receive a business credit card. There are even business credit cards for startups that don’t have a credit history.

IBCC members exchange cards with other members, simply for the price of postage. The presentation of one’s meishi to another person is more formal and ritualistic than in the Western world. The card should be held at the top two corners, face up and turned so that it can be read by the person receiving the meishi, who takes it by the bottom two corners using both hands. Placing one’s fingers over the name or other information is considered rude.

The best practices for expense policies

For the most part those special material business cards are of standard format, sometimes with rounded corners. There is no standard for the business card dimensions.[7] Sharing dimensions with other cards makes storage easier, for example banking cards (85.60 × 53.98 mm) and business cards in Western Europe (85 × 55 mm) have almost the same size. Business cards are printed on some form of card stock, the visual effect, method of printing, cost and other details varying according to cultural or organizational norms and personal preferences.

• In many countries, such as the United States and Canada, companies still use cheques or other forms of manual, paper-based instruments to make supplier payments.
• With emergency vendors refusing American Express payments, the company approached HSBC for help.
• Company guidelines can help businesses better manage employee expenses, but it’s also important to make sure employees know the rules to prevent misunderstandings and unauthorized charges.
• Similarly, a high volume of manually reported transactions may compromise expense tracking accuracy.
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