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What Is a Corporate Credit Card and How Does It Work?

Success in the fast-paced business environment of today depends on having the appropriate financial tools. The corporate credit card is a tool that businesses can use to their full advantage. But how can having a corporate credit card help your UK-based company? Let's go into the specifics and examine all the information you need regarding corporate credit cards. 
Updated 17 May, 2024

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Komal Habib

Midweight Copywriter

What is a corporate credit card?

An employee’s payment card for business-related costs, like entertainment, and travel, is called a corporate credit card. Corporate credit cards are connected to the credit account of the business instead of a specific person’s individual credit line, in contrast to personal credit cards.

How corporate credit cards work

Personal and corporate credit cards function similarly, but corporate credit cards include extra features designed with business needs in mind. They give organisations better spending controls and expense tracking capabilities while giving employees a convenient option to make purchases on the company’s behalf.

Expense management

Corporate credit cards offer numerous benefits for UK businesses, from streamlined expense management to enhanced spending controls. By understanding how corporate credit cards work and choosing the right card for your business needs, you can unlock greater efficiency and financial flexibility. Explore OneMoneyWay’s solutions for seamless business accounts and take your business finances to the next level.

Benefits of corporate credit cards

Simplified expense management

Corporate credit cards make it easier to manage and reconcile expenses, which saves time and money by minimising administrative work.

Better spending regulation

To stop unapproved spending, businesses can restrict purchase categories, set spending caps, and track transactions in real-time.

Features & rewards

A lot of corporate credit cards come with features like cashback or travel benefits, which give firms extra money off of their regular costs. 

Choosing the best corporate credit card

Factors to consider

Think about the following when choosing a corporate credit card for your UK company:

Annual charges: Analyse the annual fees linked to the card and weigh them against the perks provided.

Incentives: Choose credit cards that match the spending patterns of your company and give out the best value in incentives.

Expense operations tools: For easy financial administration, use credit cards with expense management features and accounting software integration. 

Explore one of the leading corporate credit card options in the UK; OneMoneyWay corporate cards. With OneMoneyWay’s business card, enjoy comprehensive expense management features, competitive rewards, and dedicated support tailored to your business needs.

OneMoneyWay: Simplifying business finances

At OneMoneyWay, we understand the unique challenges that UK businesses face when it comes to managing finances. As a leading payment and financial management platform, we offer a range of solutions designed to streamline business accounts, including:

Business accounts: Open a business account with OneMoneyWay to access essential banking services tailored to your business needs.

Cards: Enjoy the convenience and flexibility of our business cards, equipped with advanced features for expense management and control.

Currency conversion: Seamlessly convert currencies at competitive rates to facilitate international transactions.

SEPA and Swift payments: Make secure and efficient SEPA and Swift payments to partners and suppliers worldwide.

Ready to Elevate Your Business?

Join OneMoneyWay for modern FinTech solutions. Empower your business today!

FAQs

Are corporate credit cards only for large corporations?

Corporate credit cards are beneficial for businesses of all sizes, including small and medium-sized enterprises (SMEs). They offer enhanced spending controls and expense management features that can benefit businesses of any scale.

How can I apply for a OneMoneyWay corporate card?

Applying for a OneMoneyWay corporate card is simple. Visit our website and follow the easy application process. Our dedicated support team is available to assist you every step of the way.

Can I customise spending limits on OneMoneyWay corporate cards?

Yes, OneMoneyWay corporate cards offer customisable spending limits, allowing you to set restrictions based on your business’s needs and policies.

What security measures are in place to protect against fraud?

OneMoneyWay employs advanced security measures, including encryption technology and real-time transaction monitoring, to safeguard against fraudulent activity and the unauthorised use of your corporate credit card.

Komal Habib

Content Writer at OneMoneyWay

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