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See how the corporate credit card helps managers analyze employees' expenses in real time without needing advances or reimbursements during business trips.
Does your company have a large number of employees who travel frequently for work?
We are certain that the corporate credit card will help you speed up the process and provide greater transparency in the management of corporate expenses in relation to employees.
In fact, many entrepreneurs still believe that corporate and business cards are the same.
Although they are similar, they are not the same thing and depending on your company's needs, the Business card alone cannot overcome them.
Thinking about helping our readers find the ideal financial product for their business, we created this content.
Want to know more about the subject? Then, continue reading and learn all about:
- What is a corporate credit card?
- How does the corporate card work?
- What are the advantages?
- What is the difference between a business credit card and a corporate credit card?
- Types of corporate cards;
- What is the best corporate credit card?
- Who can have a corporate credit card and how to apply?
- How to account for the corporate credit card?
- Good options for PJ card or Business card.
What is a corporate credit card?
If you are a business owner and are looking for financial products to help your business, one of the main questions you have is what a corporate credit card is.
First of all, this modality is an exclusive card for paying the organization's expenses.
The main objective is to concentrate corporate expenses in a monthly invoice and thus facilitate the financial management of the business.
Let's say, for example, that your department has a group of employees who need to travel frequently for work.
In this case, instead of handing the cash over to the employee, the company can provide a card in the company's name to pay for expenses such as flights, hotels and food.
How does the corporate card work?
In principle, the corporate card works like a regular personal credit card and can also be used as a debit card.
Just like other options available on the credit market, this one has an annual fee, credit limit and international coverage if the company wishes. Furthermore, the cards are used in all business segments without distinction of category.
AND the main function is to pay for work-related expenses, such as business meeting dinners and lunches, inventory purchases, food expenses, travel, among others.
In other words, it can be said that the corporate card is perfect for companies with employees who travel frequently for work. This way, there is no need to worry about cash advances or reimbursements.
What are the advantages?
By now, you have probably already noticed the advantages of using the card, such as convenience and easier financial management. But that's not all, as there are other benefits included, as we will see below.
Access to differentiated credit lines
One of the first advantages is access to differentiated credit lines, after all, the stronger the company/bank relationship, the greater the benefits, such as lower interest rates and a higher credit limit.
In addition, most institutions offer exclusive benefits, such as a points program to exchange for airline tickets and even unique discounts at partner establishments. Some include the most frequently used services, such as restaurants, hotels, parking lots and tolls.
Business Travel Expense Management
Many companies rely on executives to travel for business or take professional training courses frequently. Therefore, the corporate credit card comes in as a tool to help.
Since it is not necessary to make a cash advance for travel expenses or reimburse the amounts later.
Everything is detailed on the invoice and through the bank's applications the manager can analyze expenses in real time, in addition to defining the limits for each card.
There are several cards available in a single order
Through a single request, the entrepreneur has access to several cards for managers and employees, unlike the corporate card where only one is granted.
Expenses are recorded and detailed on a single invoice. This way, you can have an idea of all your expenses and know who made them.
What is the difference between a business and corporate credit card?
In fact, it is quite common to confuse the two options, however, they are not the same thing. While the business credit card serves companies with all types of revenue, the corporate credit card is intended for large and government institutions.
Types of corporate cards
To begin with, there are currently two important types of corporate cards available: prepaid and postpaid.
In the prepaid version, the entrepreneur deposits a certain amount to be spent later. If the money runs out, the employee can only use it by recharging it. And the postpaid version is the credit card with a pre-approved limit, like a regular personal use card.
In other words, the employee makes purchases on credit and the invoice arrives for the company to pay on the due date.
What is the best corporate credit card? See the options
First of all, to find out which is the best corporate credit card, it is necessary to assess the specific business needs. After all, a good option is one that brings benefits and makes the organization's financial routine easier.
As there are endless possibilities, the team at Cred Consultation has put together a list of the best corporate credit cards of the moment. Check it out:
Cora Corporate Credit Card
The first suggestion on our list is the Cora corporate credit card, an excellent deal for companies that value savings. This is because the card has no annual fees.
In addition, it works as a credit and debit card simultaneously and can be purchased online. However, it does not have a points program or discounts at partner establishments. But it is still a great corporate credit card!
Clara Business Black Mastercard
THE Clara card follows the same line as the Cora credit card, in terms of speed of approval. The difference is in the exclusive travel benefits, which makes it an excellent opportunity for executives.
After all, in addition to the high limit, the cards have access to VIP lounges at various airports around the world, baggage protection and refund of travel expenses if the flight is delayed or cancelled.
Visa Corporate Credit Card
Already the credit card Visa Corporate has exclusive assistance to help its employees. They can even make emergency cash withdrawals in the event of an unforeseen event, such as robbery or theft.
Another advantage is also in the service of travel assistance and international medical insurance. Plus, with the Visa card available to your employees, you don’t have to worry about cash flow.
Because, through real-time reports, the entrepreneur has access to all expenses for management purposes.
Bradesco corporate credit card
In advance, the Bradesco has the best corporate financial products, including the corporate credit card. With this option your employees can use it in more than 250 countries.
Furthermore, everyone has medical assistance during international travel, personal accident insurance and refund in case of lost luggage. However, you must schedule a visit with your account manager to request it.
Corporate Goldcard
THE Corporate Goldcard It is issued by Banco do Brasil and is available under Visa and Elo. Through this financial product, the entrepreneur has access to the travel expenses of the entire team in real time. In addition, one of the advantages is the 40-day payment term.
Who can have a corporate credit card and how to apply?
Corporate credit cards are available to companies with legal accounts linked to their CNPJ. They are usually intended for employees in executive and management positions, but it is up to the business owner to decide.
Furthermore, there is no emission limit, that is, an organization can have as many cards as it deems necessary.
After all, everything depends on the contract stipulated with the bank and the segment of each business analyzed in particular.
Therefore, with the CNPJ and company documentation in hand, the first step to request it is to open a business account and, after approval, request the option.
In fact, to obtain more advantageous proposals, the best thing to do is to hold a meeting with the account manager and explain all of the company's needs.
How to account for the corporate credit card?
When accounting for corporate credit cards, it is prudent to ask the employee for a receipt for each payment made.
Then, the person responsible for finances must perform a bank reconciliation – comparing income and expenses on the bank statement – and check the receipts provided against the expenses included on the invoice.
Good options for PJ card or Business card
If, at the time of this reading, you realized that your company only needs one card to balance its accounts, we have separated other options.
In addition to the corporate card, the PJ card or Business card are an excellent opportunity, especially when the subject is working capital.
C6 Bank PJ Card
At first glance the C6 Bank PJ card It has free annual fees and is very easy to join. Both MEIs and small and large business owners can apply and have their expectations exceeded.
In addition to the card, the customer has access to a digital business account and greater ease when requesting a credit card machine.
But that's not all, since By making an investment in a CDB at the bank, the amount returns in the form of credit.
In other words, if you decide to invest R$10,000.00 in a CDB, C6 Bank will immediately transform the amount into a credit limit.
So, in addition to the pre-approved balance, you also have R$ 10,000.00 more to use in your business.
Nubank Corporate Card
The Nubank PJ credit card is one of the easiest to apply for, but it has few features. But for individual microentrepreneurs who need a card and account to separate business expenses from personal expenses, it is an excellent option.
Since there are no fees or annual charges for the credit card, the first step to applying for it is to open a PJ account at Nubank and then join the waiting list.
The debit card arrives quickly at your address, however, to enable the credit function the consumer needs to wait a little longer.
Porto Seguro Mastercard Platinum Business Card
At first, the Porto Seguro Business Card is offering a super offer. After all, by signing up now, the customer has 6 months of free annual fees to have access to all the advantages of the Platinum line.
After the exemption period, the amount is only R$30.00 per month. Among the benefits we can mention the points program plus the following requirements:
- Renova Ecopeças discount;
- Discount at Porto Seguro Company;
- Porto Faz Business Package;
- Easy car discount;
- Discount at Porto Seguro Automotive Center;
- Discount at Porto Seguro Faz;
- Discount on the Go by Taxi App.
Itaú Business Card
The Itaú Business card has no annual fee in the first year and is available with Visa and Mastercard.
Both options include participation in the Points Program to redeem air miles and discounts on national and international car rentals with insurance and travel assistance.
The request is only available to customers with a legal account opened at the institution, therefore, if you wish to acquire it, the first step is open your account.
Currently, the procedure is online, and you only need to present a photo ID and company documents.
Conclusion
Based on the content presented, we saw that the corporate credit card is an excellent tool in the financial management of a company.
After all, in addition to facilitating travel among employees, through the application the manager can have access to all expenses in real time and eliminate the need for cash advances.
But this does not mean that the employee is immune when it comes to presenting invoices for all expenses.
These documents are extremely important when reconciling your bank statements and attaching them to the card statement as part of the company's accounting expenses.
Another option for companies that only need a card is a corporate card, also known as a PJ card or Business card. Signing up is simple and most cards have exemption from the annual fee and maintenance of the PJ account.
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