Citibank offers two kinds of business credit cards, the first one being their business credit card for corporate credit. This card is not strictly aimed at small businesses and corporations. It actually applies to all kinds of businesses that have salespeople or agents working for them. They have a specific amount that has to be kept in the company account.
If you are applying for a corporate credit card from Citibank, you will see that this card has a few corporate perks that you can benefit from. One of these perks is having your own phone line with which to conduct business. You will also be assigned a payroll department to help you pay your employees. There is also a system that is used to keep your purchases up to date, with every purchase costing you a certain amount, as determined by your budget.
This is a great credit card because you can use it in order to build your business. It is very easy to get approved for this kind of corporate credit card since Citibank is a trusted name in the financial world. Other lending institutions may not approve you for this kind of credit card because it might not be good for your business. This is why you should do your research first before applying for this type of credit card from Citibank. You must make sure that you are getting your hands on the right one for your needs.
Another reason why you should get this credit card is that you can use it to build your personal credit score. Having a good credit score can help you get financing for your new business. However, you cannot expect your credit score to get higher if you have irresponsible spending habits. If you manage your finances well then you can expect your credit card debt to go down and your score to go up.
Keep in mind that having a Citibank business credit card can also help you obtain loans from loan companies. You will be able to get a loan faster if you have this corporate credit card to help you out. This is because you are seen as a big risk to these lending institutions if you do not have a good credit rating. This is the only reason why they offer these cards to people who cannot get one from other sources.
You should apply for a Citibank business card if you want to increase your profits. This card is definitely an asset to your business since it allows you to get lower interest rates and also makes transactions easier. It is a very wise decision to get this corporate credit for your business. You will see how useful it really is once you start using it.