4 things to consider when choosing a corporate credit card


Corporate card

2 min


With so many different card providers to choose from today, it can be difficult to navigate the terrain on your own. Our expert Aslim Aslan explains four important things to consider before choosing a corporate credit card.

The market for payment solutions has grown rapidly, especially with the rise of fintech companies. Every operator wants to be part of the customer’s payment flow and services have become more digitalised, with a focus on quick and easy processing. So what should you actually look for and what are the pitfalls to avoid when choosing a corporate credit card?

An account manager at Eurocard, Aslim Aslan speaks every day with various company representatives about corporate credit cards. Here are four questions she thinks everyone should ask when comparing the products of different card providers.

1. What are our needs?

“Start by analysing what you need when it comes to corporate credit cards. If you mostly shop online, there are specially developed payment solutions for that. If the card is intended for business travel and will be used a fair amount abroad, it may be useful to check the card’s acceptance, that is, which countries the card will work in. You should also check that the credit limit set for the card is sufficient for your needs.”

2. Who is to be responsible for payment?

“Buying on credit always means that someone bears the risk, so it’s important to check the terms of the agreement before choosing a card. If the employee were to be responsible for payment, this might, for example, affect that person’s personal finances if the company runs into financial difficulties. On that basis, my recommendation is to always choose a corporate credit card where the company takes the credit risk, i.e is ultimately responsible for payment.”

3. How much administration will there be?

“Although much has been digitised and simplified, some card solutions can hide a lot of extra administration for your business. Work out whether you need a credit or debit card. Debit cards often involve restrictions on payment options, but also limit the amount of administration. With a credit card, money is always available on the card. This also offers the possibility of extra liquidity over a period of time, which even the most profitable businesses may need from time to time.

4. What are the actual costs of the card?

Corporate credit cards advertised as free may come with hidden charges. For example, there are cards that are free, but only up to a certain number, or you might begin to be charged for the service after you’ve reached your credit limit. So you should make sure you pay special attention to the small print in the contract to avoid unforeseen expenses at a later stage.

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