What Does a Business Credit Card Do?

Today we will take a look at the what does a business credit card do matter. In 2016, an EU regulation came into force limiting credit card fees to a maximum of 0.3 percent per transaction.

You as a consumer get from this fee in everyday life with nothing. It is the fee that merchants pay to the banks.

Before regulation, the fee was between 1 and 3 percent and was set out in a contract between the bank and the dealers. However, the maximum limit of 0.3 percent has been exposed for three types of credit cards:

  • American Express credit cards (until 2018)
  • Diners Club credit cards (until 2018)
  • Business Credit Card

What does a business credit card do?

This means that payments with business credit cards continue to cost the merchant up to 3 percent fees. However, the European Union has also determined that there must be clear scrutiny.

Since then, many banks have required you to specify whether you want to use your credit card for business or pleasure. If you order a business credit card today, you need to prove your business. Otherwise, you will only receive a personal credit card. What is the differences?

What Does a Business Credit Card Do?

What does a business credit card do?

The fact that fees were reduced to 0.3 per cent for private payments has, on the whole, produced a very positive development. Acceptance of credit cards has risen sharply, especially in some Europe countries. You can now pay with your credit card at many major retailers and online shops (as of 04/2016).

Nearly all supermarkets and petrol stations, for example, now accept payment by credit card. You can also pay significantly more often by credit card in other countries of the European Union.

Look at:   How Do I Open a Business Credit Card?

 

What Does a Business Credit Card Do? What Does a Business Credit Card Do?

What Does a Business Credit Card Do?

Leave a Reply

Your email address will not be published. Required fields are marked *