US Bank, a subsidiary of US Bancorp, has launched a new Visa credit card, designed to offer more flexibility and control to medium and large businesses with annual revenues between $1m and $10m.
Called the US Bank Visa Signature Company Credit Card, the new offering is available in US Bank branches and does not seek any personal guarantor. The company will be solely responsible for all purchases.
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Companies which are registered as Corporation, Limited Liability Corporation or Limited Liability Partnership are eligible for the newly launched Company Card, provided a net income of $350,000 in two consecutive years is shown by them.
The benefits of the company card include credit line ranging from $25,000 to $250,000, central billing and business account representatives for account maintenance, and EMV technology for international acceptance.
Additional advantages are complimentary concierge service, Visa Signature Luxury Hotel Collection and the ability to earn 1% cash rewards on all net purchases.
US Bank Retail Payment Solutions senior vice president Cathi Stanton said: "We conducted a pilot earlier this year and received positive feedback from businesses. This card is a great addition to our suite of small business products.
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By GlobalDataThe Company Card is unique as it is underwritten on the company’s credit history and financial strength, rather than the authorised officer’s personal credit.
