Alternative Means To A Secured Corporate Credit Card

A secured corporate credit card is used by a business to meet their needs for a credit card when they may not qualify for an unsecured credit card. A secured card is one that has an escrow account backing the amount of credit that the credit card issuer makes available for the business.  This amount is set by the credit card issuer and is based on the needs of the company and their credit risk score.

Alternatives to Secured Corporate Credit Cards

Alternatives to a secured corporate credit card may include a high interest rate unsecured credit card issued by a bank or credit card issuer or a prepaid debit card. These options may provide a way for a corporation or company with a low credit rating to establish themselves and have access to a MasterCard or VISA logoed card in order to make reservations and other purchases necessary to run the business.

Prepaid Debit and High Interest Credit Cards

A prepaid debit card is a form of secured credit card where the corporation’s liability is limited to the amount available in the debit account. The corporation through a checking or secured account makes available funds that are deducted or debited in order to pay for charges. A high interest credit card can provide the needed credit for a business but based on the lower credit score will charge a higher interest rate and other fees and charges.