Business card for small businesses

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

The reason why it is so difficult for small businesses to get a business card with credit is that the traditional big banks do not want to give credit to small businesses. And our business card is a credit. It's as simple as that. The big banks want to make money from fees and not have to take risks. Unfortunately, risks are highest when companies are at their smallest or are just starting out. Therefore, the type of company can be a decisive factor.

Remember never to spend money that you are not sure you will have in the future, it is better to save.

"Since we launched in 2015, we have helped more than 25,000 companies. Our goal is to constantly develop ourselves and our business to continue to strengthen our offering to help more businesses. Through the Visa membership, our product portfolio can be further broadened to fit our customers' everyday needs," says Emil Sunvisson, CEO of Qred."

Corporate cards are actually 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 actually the first solution for Buy Now, Pay Later. As early as 1914 in the United States, the first version of the credit card saw the light of day.

Solve expense management with Qred's corporate card

The business card from Qred Bank allows you to manage your purchases in an easy 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 error.
• Digital receipts make it easier to manage and file expenses.
• You save time and money.
• Don't worry about losing receipts.
• Gives you easy-to-use monthly reports of your purchases that you can easily add to your accounting.
• It's free - the feature comes automatically with your Qred Visa!

Why should I have a business card for my company?

Because it's already hard as it is to keep the private and the company apart. Expenses, posting, invoices and more dissolve the boundaries between work and your private finances.

It doesn't have to be that way.

With a business card, you get an overview of your expenses and can make those smaller investments 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, risk the result of the completed assignment or in the worst case rent the equipment, in 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. However, if you are unable to pay on time, or choose to split the bill, you will start paying interest on that amount. That interest rate is company-specific and starts at 1.95%.

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

Business loans are a common alternative and complement to business cards

If you do not often make purchases that are linked to your business, 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 business card for everyday expenses and a loan to invest in inventory, marketing or to cover cash flow during a temporary downturn.

What are the benefits of a company card?

A business card can bring several benefits to your business and it works in the same way as a private credit card, but with a business card, the company is responsible for payment. The card can be designed as a regular credit card, a fuel card or as a debit card where the company has to deposit money to use it. Some companies choose to give each employee a company card, while other companies choose to have a card to share.

Why do you need a company card?

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

Avoid unnecessary obstacles

Many struggle to find an effective way to manage their employees' outlays when using their private cards to buy something on behalf of the company.

This is because the transaction data remains with the employees until the expenses are reported. As a result, the company does not get an overview of what expenses are expected before the employee accounts are submitted. From the perspective of the employees, in this case they have to lie out with money waiting for compensation from the company. So there are several good reasons why the company should have a company card.

Even if you have no employees, it is still beneficial to use a company card. Then you can easily and conveniently distinguish your company's expenses from your private ones. With a company card, you do not have to spend time sorting receipts every month and keeping track of which expenses belong to the company or not.

It is common to receive a single invoice every month with all expenses. This simplifies administration very much, especially for the smaller companies that do most things themselves.

Despite this, many companies do not act

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

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 your 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. However 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 cannot expect your employees to be able to afford to cover large costs. Having a business card in such a situation can make it very easy.

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