U.S. Bank has introduced the U.S. Bank Visa Signature® Company Credit Card designed for companies with $1 million to $10 million in annual revenues. Unlike other business cards, no personal guarantor is required since the company is solely liable for all purchases.
“We are excited to offer this to our established small business clients,” said Cathi Stanton, senior vice president for U.S. Bank Retail Payment Solutions. “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. The Company Card is unique in that the card is underwritten on the company’s credit history and financial strength, rather than the authorized officer’s personal credit.”
The Company Card requires that the company be a Corporation, Limited Liability Corporation or Limited Liability Partnership and net income of the company must be $350,000 for two consecutive years.
Benefits of the Company Card include:
- Credit line ranging from $25,000 to $250,000;
- Central billing and dedicated business account representatives for account maintenance, issues and questions;
- EMV (“chip-card”) technology for better international acceptance;
- Complimentary Concierge Service;
- Visa Signature Luxury Hotel Collection and
- The ability to earn 1% cash rewards on all net purchases.