A foreign transaction fee, also known as an FX fee, is charged by credit card issuers when you use your credit card internationally, or when you make a purchase in foreign currencies. You may also incur a fee when your transaction is routed through a non-US bank. Fees are a percentage of the amount of…
What Is Cash Back & How Does It Work?
Cash back is an incentive credit card issuers typically offer that refunds a small percentage of a cardholder’s purchases. You can apply your cash-back rewards to your credit card bill or redeem them as a check, bank deposit, for merchandise, or for store gift cards. Cash-back rewards usually range between 1% and 6%. Most credit…
What Is a Credit Limit?
A credit limit is the maximum amount you can charge on your credit card, which is predetermined by your card issuer. The larger your limit, the more you can spend on your credit card. Credit card issuers use several factors to determine your credit limit, including your income, credit score, and other financial considerations. To…
Chase Ink Points Explained: Value, Rewards & Calculator
Chase Ink points are part of Chase Ultimate Rewards, which you can earn through three Chase Ink credit cards. You can redeem Chase Ink business points for cash back, gift cards, or travel. Redemption value is at least 1 to 1.25 cents per point, depending on the Chase business credit card you apply for. Business…
What Is a P Card?
A P Card, also known as a purchasing card, is a company charge card used to buy goods and services. It’s an alternative to a check or automated clearing house (ACH) transaction. Purchasing cards charge no interest, but you’ll have to pay the full balance monthly. Businesses may benefit from early payment discounts on accounts…
How Employee Credit Cards Work & Best Practices to Follow
An employee credit card permits your employee to purchase goods and services on behalf of the company while giving you the ability to monitor and control spending. Many issuers offer free employee credit cards, allowing you to earn rewards on their spending without paying an additional fee per card. Using employee credit cards will save…
When Is Using Credit Cards to Fund Your Business Right?
Using credit cards to fund your business is typically the right thing to do if you need financing of less than $50,000, or you can’t qualify for a bank loan. Credit cards have the added benefit of earning you rewards on business-related purchases and typically carry an annual percentage rate (APR) of 13.74% to 25%….
Charge Card vs Credit Card: The Differences That Matter
The primary difference between a charge card vs credit card is that charge cards require you to pay your balance in full while credit cards let you carry a balance. Charge cards also have no preset spending limits; credit limits are standard for all credit cards. However, rewards programs are common with both credit cards…
How to Increase Your Credit Limit: 5 Tips That Really Work
If you want to learn how to increase credit limits, know that you’ll typically need a credit score above 680, a low amount of debt relative to your income, and a timely payment history. Additionally, your existing credit cards should not be maxed out. Responsible cardholders can request an increased credit limit from their credit…
Credit Card Stacking & Using It to Fund Your Startup
Credit card stacking is the practice of applying for multiple credit cards at the same time to access a larger unsecured line of credit. Once approved, you can use your stack of credit cards to finance a startup, small business, or real estate deals. This works as an alternative working capital funding source for businesses….
What Is a Fleet Card & Is It Right for Your Business?
Fleet cards, or fleet fuel cards, are used to maintain company vehicles and help businesses manage fleet-related expenses. Fleet cards are best for businesses with two or more vehicles and use between 1,000 and 5,000 gallons per month. You may also want to consider fleet cards to earn discounts on eligible vehicle-related purchases. What Is…
Your One-stop Shop for Business Charge Cards
Business charge cards allow you to make purchases without using cash on hand. Instead of having a predetermined credit limit like credit cards, business charge cards have no preset spending limit. However, you’re required to repay your balance in full every month to avoid late payment fees. What Is a Charge Card? Charge cards let…