Business credit cards very often come with rewards—from 0% introductory rates, to airline miles, to cash back. There are some such perks however that people may be unaware of, some key rewards that could be highly beneficial to your company. Below are four perks that your business credit card may have that you might not currently know about.
Extended Warranties. Did you know that on certain purchases your credit card may extend the warranty period automatically? It could add up to a year on top of the warranty that comes with said purchase. So for example, if you buy a piece of furniture and something happens to it after the standard warranty is up, you can submit a claim to the credit card with which you purchased the item.
Cell Phone Protection. This is actually a pretty popular perk. Certain business cards will offer so much per line (to include employee lines on your plan/) to cover theft and/or damage. You simply need to use the card to pay your cell phone bill.
Free Cards for Employees. Many cards will give you up to a certain number of cards free of charge for your employees' use. You can also monitor employee usage and even set spending limits if you so choose.
Trip Protection. Different from airline miles, trip protection can cover things such as lost luggage, trip cancellations and even delays. Some cards will provide up to 1 million to this end. Again, you need to have purchased the trip with that card.
Business credit cards can be an excellent tool for your company. Especially if you're a newer business and need to establish credit, a business credit card can certainly help you do just that. At First Union, we specialize in working with newer businesses to find appropriate financial solutions, solutions that make sense for them. We'd love to discuss your company's funding needs. Call today!