The best corporate credit cards for employees compared

The best corporate credit cards for employees compared

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    Finding the right corporate credit card for your employees

    Selecting the right corporate credit card for your employees is an important step in optimizing your company's financial needs. With a well-chosen credit card, you can manage expenses and benefit from rewards and tax savings. Find out which credit card suits your employees and your company in our comprehensive check.

    What types of corporate credit cards are there?

    Depending on the number of employees, the size of the company, and the desired card functions, there are different types of cards available. Get an initial overview with us.

    Business credit cards / standard corporate credit cards

    The business credit card is a widespread option intended for freelancers and small as well as large companies. It is considered the standard corporate credit card and allows you to easily separate business expenses from personal finances. These cards work similarly to personal credit cards but are issued in the company's name and can only be applied for in a business context. Business credit cards often offer rewards like cashback or bonus points for business expenses. Insurance and travel benefits are also typical features of a corporate credit card.

    Corporate credit cards / enterprise cards

    The corporate credit card is more suitable for larger companies. It allows for more comprehensive expense control and often offers special features such as spending limits and detailed reporting. These cards are ideal for companies with many employees and complex expense structures.

    Prepaid or standard credit card?

    An important decision when choosing a corporate credit card concerns the type of card. Prepaid cards require a pre-deposit into the card account and are ideal if you want strict control over expenses. Since the company is liable for the employees' credit card expenses, the prepaid credit card, with its spending limits, offers a good way to keep expenses in check and manage the budget precisely. You can assign individual amounts to employees that they can spend and ensure they do not spend more than approved.

    On the other hand, standard credit cards for companies and employees offer more flexibility as they provide a credit line. This can be helpful in situations where short-term expenses need to be incurred before funds are available. However, caution is required to ensure this flexibility does not lead to uncontrolled spending. It is important to establish clear guidelines and approval procedures for the use of standard credit cards to avoid financial problems.

    Popular corporate credit cards compared

    Discover popular corporate credit cards compared. Suitable for freelancers, small, and large companies.

    The American Business Card Platinum offers numerous advantages and perks for companies. These include generous bonus points or credits for new customers, access to over 1,400 airport lounges worldwide (even with guests), and a flexible payment term of up to 58 days. A special feature is the free partner card with almost the same benefits as the main card, as well as a comprehensive insurance package that covers rental car fully comprehensive, trip cancellation, and personal liability insurance.

    The card is particularly suitable for employees who need to travel a lot for their company. Although the American Express Business Platinum costs 700 euros per year, the price-performance ratio is balanced as it offers many bonuses and services.

    Finom offers accounts and cards for small to medium-sized companies. The Finom Premium model (annual fee 216 euros) is intended for companies with 5 to 10 employees. The Finom Corporate model (annual fee 828 euros) for companies with 10 to 100 employees.

    The debit card supports accounting software such as DATEV, LexOffice, and SevDesk and offers a German IBAN. A big plus is that no credit check is required, and deposits are secured up to 100,000 euros, as Finom works closely with the German Solarisbank AG. Users can also benefit from up to 3% cashback on their card transactions. The physical corporate credit cards are complemented by virtual Visa cards, which are very practical for employees. The card is compatible with Apple Pay and Google Pay and allows free cash withdrawals of up to 10,000 euros per month and payments without foreign currency fees in the euro zone.

    Revolut offers credit cards for small and large companies. The Revolut Business Card is the ideal solution for companies with employees who need financial flexibility and efficiency worldwide. With this card, you can securely and quickly transfer and receive money in more than 25 currencies, making cross-border transactions no problem.

    Revolut offers physical and virtual corporate debit cards, allowing companies to control and manage their employees' expenses. In the associated app, you can set limits, track transactions, and lock or unlock cards. The Revolut Business Mastercard also simplifies accounting: the app automatically assigns receipts and reminds employees to submit missing receipts. Depending on the terms model, a corporate credit card at Revolut costs 0 - 100 euros per month.

    The Miles and More Business Credit Card is issued by DKB Bank in cooperation with Lufthansa. The card is particularly attractive for companies with employees who need to travel frequently and within the EU.

    As the name suggests, employees can collect premium miles with this credit card for Lufthansa. For every euro spent with the card, they collect one premium mile. In addition to miles, employees benefit from comprehensive insurance coverage during their business trips. This includes trip cancellation and interruption insurance, full rental car coverage, international travel health insurance, and even quarantine cost insurance. Additionally, the AXA Partners telemedicine service offers qualified medical first assessments for medical problems while traveling.

    Do you need a credit check for every corporate credit card?

    No. There are also corporate credit cards that can be applied for without a credit check. This is often the case with prepaid cards.

    Who is liable for the employees' corporate credit cards?

    For corporate credit cards, the company is liable, not the individual employees. Only in cases of gross violations of the usage agreements might employees be required to provide compensation.

    Which type of credit card is suitable for my company?

    You can choose between two different types of cards for your employees: standard credit cards or prepaid credit cards. Prepaid cards offer the advantage of setting a fixed budget for each employee. Standard credit cards, on the other hand, offer more flexibility, services, and rewards.

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