Business Credit

[tgardner111]

I am looking for a Corporate Rewards Credit card for my company.  We currently use a small regional bank that offers us a credit card but with no rewards.  We have 24 credit cards (used by different employees) each with different credit limits between $2000 and $10000 for each card.  Our total company credit limit for all 24 cards is $113,000.  I have tried to sign up for a rewards corporate card but each time I call, they need my personal credit information and the most credit I can get is $20,000.  Are there any rewards cards for a company like ours that needs 24 cards for our employees (they travel)?  We are a $16 million company so I assume our assets could be collateral for the credit cards?  Thank you for any information

[Revelate]

This might be better off on the business credit forum; however, AFAIK all business credit card issuers currently want a personal guaruntee, and therefore they'll pull your personal credit report even if they don't report to personal credit (and some do, Cap One I think reports to personal rather than business, not sure on Chase / Amex / other traditional business rewards cards issuers).

That's just the current economic times unfortunately, it wasn't before, it may not be again in the future, but it's where we're at now.

[bostonte]

American Express and Capital One.

Not the online app "business" Capital One -- that's basically a glorified personal credit card, which is going to cap out somewhere around $30-50,000 (if you're quite lucky). But the Commercial Banking side.

It would require talking to a banker and likely lots of financials and documentation.

Even with Amex, you really are starting to get into the corporate card program which is very different than the "business" cards they offer on their website. You need to call and speak to someone in that department. It's not an instant online app type of thing.

Wright Express is another, provided your company has the revenues and financials. They issue a rather neat MasterCard which earns rewards and has some nice reporting/control features. Normally you think of them for gas cards -- but with high enough revenues, they have the MasterCard program for all of your expense needs.

[tgardner111]

Thanks for the information!