Do corporate credit cards have rewards?
Corporate credit cards are designed to suit the demanding needs of companies at any size. They can help fund purchases and investments, streamline expense management, and even improve business credit scores.
Many corporate credit cards also offer incentives to customers for spending on their card. These tend to come in the form of points, with customers earning a specific number for each dollar they spend on their credit card. These are then redeemable on business essentials, such as travel and technology purchases.
What are the different types of corporate credit card rewards?
Credit card companies may also offer perks in the form of cash and travel rewards along with points. Here are some of the most common ways corporate credit card customers can get more out of their spending:
Most corporate credit cards with rewards give their customers a certain number of points per dollar spent on the card. These can be redeemed for specific products or services, either with participating retailers or via the card issuer’s online store. Cardholders may also redeem these points as cash or gift cards, depending on the terms of the issuer.
By accumulating points, corporate credit card customers can get perks for their day-to-day spending. This can make it easier for them to make purchases, reward their employees, or entertain clients.
Miles and travel rewards
Travel is critical for many companies. That’s why some corporate credit cards reward customers with miles, which can be redeemed for airline tickets. The value of these miles will vary depending on the frequent flier program.
Some issuers may also offer point multipliers which pay higher rewards on travel purchases, such as flights, accommodation, and transfers.
Corporate credit card customers can also earn monetary rewards. These can be redeemed at specific increments or for a set minimum amount.
Despite their name, customers won’t necessarily receive such rewards in cash. They may be paid as credit into the account, made as a deposit, or sent as a check. Some issuers will also allow you to redeem cash rewards as gift cards with their partner merchants. Doing so can sometimes be more valuable, with merchants giving you a certain percentage off orders.
Exclusive discounts with partners
The best credit card rewards are available alongside exclusive discounts with participating retailers. These can give customers money off the products and services they need to operate and expand their business.
Things to consider with credit card rewards
Even the most rewarding credit cards can come with terms and conditions that limit the value of reward programs. Minimum spends may apply for customers to qualify. Caps, restrictions, and redemption terms, such as minimum amounts and time limits, can also affect the appeal of those advertised perks.
Another consideration is that reward credit cards tend to only be available to businesses with excellent credit scores. This means some companies may find it difficult to be approved. These reward credit cards can also cost more due to higher annual fees and interest rates.
The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC. Terms and conditions apply. See the Brex Platform Agreement for details.
Brex Inc. provides a corporate card. Brex Treasury LLC is an affiliated SEC-registered broker-dealer and member of FINRA and SIPC that provides Brex Cash, a program that allows customers to sweep uninvested cash balances into certain money market mutual funds. Investing in securities products involves risk, including possible loss of principal. Neither Brex Inc. nor any of its affiliates is a bank. Please see brex.com/cash for important legal disclosures.