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Review: Mastercard Business Credit Card Options
October 05, 2018
MasterCard-Business-Credit-Card

Review: Mastercard Business Credit Card Options

A credit card can often have a major impact on your business’ monthly bottom line. As time goes on, the consequences of choosing a less than perfect credit card will continue to compound. When selecting the credit card that your business will use on a regular basis, its terms, interest rates, and available benefits will all need to be considered.

In this post, we’ll briefly review some of the most popular business credit card options that are offered by Mastercard. With more than 191 million active accounts in the United States, the company has consistently been one of the first sources of financing that new or existing businesses consider. With a firm understanding of your available options, you can choose the card that’s best for your business.

Mastercard’s Business Credit Card Options:

Mastercard BusinessCard

The Mastercard BusinessCard is easy to apply for and can be accessed through several different financial institutions. The card promises zero liability in the event of unauthorized purchases and provides next day delivery (two days if international) in instances where your card is lost or damaged. Benefits include rental insurance, purchase insurance, extended warranty insurance, and various travel perks. You may also be able to reclaim VAT (value added tax) when travelling abroad.

One of the reasons this card is so popular is that it’s very easy for you to track your expenses and make important cash flow decisions. In addition, it’s an excellent introductory card for new businesses, and the interest rate will depend on the specific financial institution that you partner with.

Mastercard Professional Credit Card

The Mastercard Professional Credit Card is designed for business professionals who want to separate their business expenses from their personal expenses. If you’re a small business owner with multiple accounts, the Professional Credit Card will make it significantly easier for you to analyze, organize, and consolidate relevant expenses.

Qualifications for this card will depend on your credit history and the financial institution that you use. With additional access to Mastercard Global Service, cardholders will also be able to travel worldwide with ease.

World Mastercard for Business

The World Mastercard for Business offers you the “benefits and services to help you do business anywhere.” The card offers higher rewards, a greater amount of purchasing power, and the ability to control employee accounts.

Most likely, you’ll have to apply for this card under your business’s name, rather than as an individual. In addition to the benefits offered in the more simplified cards mentioned above, users will also enjoy an employee liability protection program and travel accident insurance. Furthermore, having detailed year-end account summaries make it much easier for businesses to make important financial decisions.

World Elite Mastercard for Business

The World Elite Mastercard for Business is one of the most dynamic and useful credit card options available. Depending on the financial institution that your business uses, qualifying for this card could be difficult. In addition to automatically saving money at participating merchants, businesses will also be able to utilize higher spending limits and increased flexibility.

This card offers all the business benefits that Mastercard currently has to offer. Detailed account summaries, zero liability, theft protection, and various types of insurance have made it quite popular among larger businesses. The card is exceptionally desirable for businesses that conduct a significant amount of business overseas or whose employees are frequently travelling.

Conclusion

Mastercard has partnerships with a wide range of banks and other financial institutions. Through these partnerships, business owners and other professionals currently have a wider range of credit card options than ever before. By balancing the costs and benefits of these cards, your business will be financially secure.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Andrew Paniello
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Andrew is an experienced writer with a degree in Finance from the University of Colorado. His primary interests are investing, entrepreneurship, and economics.
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