What is a corporate credit card?
A corporate credit card is a payment card your company gives to you for work expenses (such as travel bookings, client meetings, or purchasing office supplies).
If your company is replacing the reimbursement process with corporate credit cards, then this will change your overall experience. Just use the card, and your company pays the bill directly.
My company issued my card 6 months ago. I am sharing the benefits I enjoy with my corporate credit card:
- No Wait for Reimbursement
I do not need to spend my own money on work purposes and wait for a long time for reimbursement.
- Streamlined Expense Tracking
My corporate credit card automatically tracks every transaction, and my company’s finance team can check the transactions. It eliminates the need for submitting bills (but I keep them as a reference).
- Perks and Rewards
My corporate credit card offers cashbacks (for work expenses only), lounge access, travel insurance, etc. (it depends on your lender).
- Spending Controls
But like my personal credit cards, I cannot use it for my non-work-related purchases. My company sets the spending limits, and they can even set where and how I can use my card.
It is very helpful, especially if you want to get relief from the lengthy reimbursement process. So, no worries, if your company is offering you a corporate credit card, you can go for it. Rest assured, it will change your work expenses and make those transactions rewarding.