The Standard Business Credit Card is ideal for business owners who want to have a secured online shopping experience for themselves and their employees.
Whether it is to make purchases to restock your store or to buy office supplies, business owners can have peace of mind knowing that one of the business credit card features is a 3D Secure verification for safe online shopping. You also get a corporate liability waiver, which means that you will be automatically insured against card fraud or the misuse of your card.
With the Standard Business Credit Card, you can manage and control your business’ spending limits, get access to the VISA Business Reporting tool, and view or track transactions on the banking app or internet banking.
On the days that you do not have your credit card with you, you can make payments by using the phone apps SnapScan or Masterpass – these apps may be linked to your credit card.
You can link the UCount Rewards for Business programme to your card and earn rewards – up to 1.25% on credit card purchases, up to R5 per litre of fuel at Caltex and up to 5% at the rewards retailers.
Type of credit: You are advised to ask your relationship manager at the bank about this.
Qualifying Criteria: There is no information available online.
Repayment Terms: Your monthly instalment will be a minimum of 5% of the total balance. However, if you want to pay back the money in full before 55 days, you will have interest-free credit.
Application process: You can apply online by completing a form, where you will answer personal questions such as what your gross income is before deductions, as well as how much your expenses are. You also give consent to your personal information being used for credit and fraud checks as well as compliance purposes.
Fees: Once approved, costs include:
Interest rate: You are advised to ask your relationship manager about this.
Rewards programme: To join and collect reward points, you sign up for UCount Rewards for Business and pay R365 annually. With the business rewards, you can redeem points for fuel, office supplies or get travel deals.
Other: Travel cards, corporate charge cards, procurement cards or aviation cards are separate offerings, and are sold at different prices.
You get a corporate liability waiver, which means that your business is automatically insured against unauthorised- or fraudulent use of your company credit card. Another benefit is that you don’t pay for the lost card protection.
There is no information available on what credit limit your business can qualify for.
You can apply for the card by contacting a relationship manager via email, or you can request a callback.
Finding the right purchases for your small business is time consuming, so smesouthafrica.co.za looked at dozens of options to come up with the following recommendations.