Business credit card for small businesses

The business card is a credit - if you want to use it!

The reason it's so hard for small businesses to get a business card with credit is because the traditional big banks don't want to leave credit to small businesses. And our corporate card is a credit. It's that simple. The big banks want to make money on fees and not have to take risks. Unfortunately, the risks are highest when companies are at their lowest or are start-ups. Therefore, the form of the company can be a decisive factor.

Remember to never shop for money that you are not sure you have in the future, then it is better to save.

“Since we launched in 2015, we have helped more than 25,000 businesses. Our goal is to continually develop ourselves and our business to continue strengthening our offering to help more businesses. Through Visa membership, our product portfolio can be further broadened to suit our customers' everyday needs,” says Emil Sunvisson, CEO at Qred.

Corporate card is really the first solution for BNPL - Buy Now, Pay Later

It is only in recent years that people have started talking about BNPL, but credit cards were really the first solution for Buy Now, Pay Later. Already in 1914 in the United States, the first variant of credit cards saw the light of day.

Solve expense management with Qred's corporate card

With the business card from Qred Bank, you can manage your purchases in a simple way. Save physical receipts digitally directly in the app for easier bookkeeping.

Summary

• Collects all expenses in one place.
• The feature is free and included in our app.
• You can scan receipts and create digital copies.
• Reduces the risk of it going wrong.
• Digital receipts make it easier to manage and archive expenses.
• You save time and money.
• Don't worry about losing receipts.
• Provides you with convenient monthly reports on your purchases that you can easily add to your bookkeeping.
• It's free - the feature automatically accompanies your Qred Visa!

Why should I have a business card for the company?

Because it is already difficult as it is to keep the private and the corporate separate. Outlays, bookkeeping, invoices and more dissolve the boundaries between work and your private finances.

That's not how it should have to be.

With a business card, you can keep track of your expenses and can make those smaller investments to be able to grow today - and pay later. A common example is a freelancer who is going to photograph or film a wedding and needs a certain piece of equipment. Instead of not being able to take the assignment, risking the outcome of the completed mission or, in the worst case, renting the equipment, this way you can buy the equipment and do what you do best - work.

What is the interest rate on the business card?

If your company pays the bill on time, there is no interest at all. If, on the other hand, you are unable to pay on time, or decide to postpone the bill, you will start paying interest on that amount. That rate is company-specific and starts at 1.95%.

Business cards are usually used for small amounts, such as the purchase of small equipment such as cameras, tools, office supplies, etc. Another common use is recurring expenses that require a linked card. This could be, for example, digital services and tools, marketing costs for Facebook Ads or Google Ads.

Business loans are a common alternative and complement to corporate cards

If you do not make very frequent purchases that are linked to your company, but still need smaller amounts to invest in things, a business loan can be a good option. At Qred we offer business loans from SEK 10,000 up to SEK 5 million.

It is also common to have a corporate card for everyday expenses and a loan to invest in inventories, marketing or to cover cash flow during a temporary slump.

What are the advantages of a business card?

A business card can bring several benefits to your business and it works in the same way as a credit card for individuals, but with a business card, the company is responsible for payment. The card can be designed as a regular credit card, a refueling card or as a debit card where the company must deposit money in order to use it. Some companies choose to give all employees a separate company card, while other companies choose to have a card to share.

Why should you have a business card?

With the help of a company card, it will be easier for you as an entrepreneur to keep track of which expenses are private and which are corporate. With a company-only business card, you get a better overview and control of your expenses. In addition to that, it facilitates accounting and reduces administration.

Eliminate unnecessary obstacles

Many struggle with finding an effective way to manage their employees' expenses when they use their private cards to buy something on behalf of the company.

This is because the transaction data remains with the employees until the accounting of the expenses is made. As a result, the company does not get an overview of what expenses are expected before the employee accounts are submitted. From the employees' perspective, in this case, they have to be left with money waiting for compensation from the company. There are many good reasons why a company should have a business card.

Even if you do not have any employees, it is still beneficial to use a company card. Then you can easily and smoothly distinguish the company's expenses from your private ones. With a business card, you don't have to spend time sorting receipts every month and keeping track of what expenses are related to the company or not.

It is common to receive a single invoice each month with all expenses. This greatly simplifies administration, especially for the smaller companies that do most of the work themselves.

Many companies do not act, despite this

According to a report by Eurocard in collaboration with KTH (Royal Institute of Technology), approximately 68 per cent of all Nordic companies that use company cards for their employees have expenses in the service. The number of companies with the most efficient management of expenses is slightly higher, namely about 80 per cent.

Several positive factors

There are more positive aspects to having cards linked to your business. By having a company card, you can improve both security and control. With the help of an additional software, such as an app, you can instantly get an overview of the company's expenses. It makes life easier as an entrepreneur and it's the little things that make a difference.

If you or your employees are on a business trip, the card acts as a security. No matter how much planning and structuring has been done in the form of booking hotels, flights, rental cars and the like, there is always a risk that something will not go as planned. Then, as an entrepreneur, you can't expect your employees to be able to afford to cover large expenses. In such a situation, having a company card can greatly facilitate.

With a credit card, you as an entrepreneur have better track of all expenses that are made and with the help of an additional software can now see your expenses in real time.

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