My Bank Products
Central Bank Business Credit Cards
- Central Bank Small Business Checking Account
- Financing Small Business through Central Bank
- Central Bank Small Businesses Lending
- Central Bank Business Lines of Credit
- Central Bank Business Equipment Leasing
- U.S. Small Business Administration (SBA) Loans
- Central Bank Business Credit Cards
Most people find it difficult to manage their personal finances without a credit card, and it is really no different for businesses that must be able to meet short term financing needs while effectively managing their cash flow. Establishing a Central Bank Business Credit Card account is essential for businesses transitioning from their start-up phase into their growth phase as much for access to credit as it is for enhancing their credibility within the business community. Businesses have access to a wide variety of financing options for their expansion needs; however, credit cards can play a vital role in the short term cash management function that is critical to a growing business. Here are four ways how a business can use a Central Bank Business Credit Card to improve its cash management:
- Separate Business and Personal Finances: Nothing raises the ire of IRS agents or accountants more than having to sort through records that mix business and personal expenses. Businesses risk increasing their costs in the additional time it takes their accountant to prepare their taxes, as well the possibility of IRS audits triggered by commingled record keeping.
- Purchase Control and Convenience: Increasingly, businesses use the Internet to purchase supplies and book travel which makes having a Central Bank Business Credit Card more essential than ever. And, having a business credit card available when a unique opportunity arises will eliminate the need to use personal checks or credit cards which can muddle record keeping. Credit cards with set spending limits are also the best way to track and control spending by employees. Extra Central Bank Business Credit Cards are available for company employees at no extra charge.
- Cash Management: Credit card financing can be an effective strategy for covering the cost of doing business in anticipation of the revenue it will generate. Businesses can take advantage of the 30-day billing cycle of Central Bank Business Credit Card accounts to purchase inventory or materials needed for a customer order that can then be repaid upon receipt of the customer’s payment. Credit card transactions generate multiple records through physical receipts, therefore, transaction reports and online statements record keeping is much easier. Many business accounting software programs are able to import transaction data from online accounts virtually automating record keeping, data compilation and cash flow analysis.
- Build Business Credit (while protecting your own): A business needs a credit score as much as an individual does. A Central Bank Business Credit Card account with a solid payment history is one of the quickest ways for a business to build a credit history which can open the door to other financing options. Business and personal credit activities are reported separately, meaning your personal credit score is not likely to be affected by any adverse reporting such as inquiries or high debt to credit ratios.
Central Bank MasterCard® Business Card
The Central Bank MasterCard® Business Card provides businesses with the purchasing power they need to manage cash flow and expenses along with the convenience, security and global benefits of MasterCard. The simplified tracking and reporting of all spending enables businesses to maintain financial control.
The Benefits of Your Business Card:
- Set individual and group spending limits based on employee and management needs
- Choose how you receive and pay your statements
- Consolidated Pay Statements:
- Each employee receives an individual statement for informational purposes only.
- All employee accounts automatically transfer to a master control account for authorization, billing and payment purposes.
- All company transactions appear on the consolidated statement and are summarized by employee, enabling you to track spending, control costs and prepare for tax time.
- Individual Pay Statements: Each employee receives a separate statement detailing his or her transactions. Payment is required on each account separately
The Central Bank MasterCard® Business Card provides many added benefits and protections, such as zero liability on lost or stolen cards, emergency card replacement, fraud monitoring and alerts, extended purchase protection and travel insurance. Additionally, all of our business customers have access to our 24/7 customer service desk staffed by business specialists.
Central Bank MasterCard® Business Card Rewards
Earn points toward dream vacations, travel, valuable merchandise and gift cards every time you make a purchase with your Central Bank MasterCard® Business Rewards Card:
- Earn one Point for every dollar you spend using your Business Rewards Credit Card
- Track points online
- Earned points will be automatically updated every month
Central Bank MasterCard® Business Rewards offers you the complete freedom to choose when and where you want to travel for as few as 25,000 Points with no blackout dates. There are no complicated frequent flyer programs to join yet you can choose flights from among the major carriers.
If your business could benefit from some or all of these advantages, contact our business financing specialist today to see which Central Bank Business Credit Card options would best meet your needs. Call (800) 445-9272 or visit your nearest Central Bank branch.