A corporate credit card is issues by the company for their employees. Uses of this card is deemed to be corporate not for personal use. The corporate credit card comes with pre-approved credit limit for expenses related to business. There are a number of benefits and uses of corporate credit cards like insurance, emergency cash, immediate payment to freelancers by paypal, travel insurance, accidental insurance, free airport lounge access. Moreover, corporate credit card offers reward points which can be used to get cash coupons. These cash coupons can be used for employee reward programs.
A corporate credit card comes with the name of the company on it and sometimes with the name of the employee as well. Unlike business credit cards, a corporate card is issued by a bank to the employee of the particular company. There are two way to pay the corporate credit card bills – individual and company pay. As these cards come with high credit limit, therefore, it is recommended to use these types of credit cards very wisely. An individual should pay the outstanding amount within the last payment day and if the payment needs to be done by the company then, an individual should inform the company finance team prior to the billing date and should avoid late payment charges.