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Corporate credit cards are an indispensable tool for companies, especially when employees are frequently travelling internationally. These cards not only facilitate payment transactions, but also offer numerous advantages and security features. In this article, you will learn how corporate credit cards work abroad and which aspects are particularly important.
What are corporate credit cards?
Corporate credit cards are credit cards that are issued specifically for companies and their employees. They make it possible to manage business expenses easily and efficiently. These cards often come with additional business-related features, such as travel insurance or accounting tools.
Advantages of credit cards for companies abroad
The use of corporate credit cards, which are also specifically designed for use abroad, usually includes the following benefits:
Easy expense management: transactions are recorded centrally, making accounting and expense management much easier.
Security: Corporate credit cards usually offer extensive security features such as fraud detection and protection.
Currency independence: Spending can be made in the local currency without employees having to pay high exchange fees.
Cashback: Many corporate credit cards offer cashback programmes that allow companies to get a portion of their spending back.
How do these credit cards for employees work?
Corporate credit cards for employees are an important tool for controlling and managing business spending. These cards allow employees to charge their professional expenses directly to the company account. This simplifies bookkeeping and prevents employees from having to advance private funds for business purposes.
Some providers offer a certain number of practical additional cards to the corporate credit cards. It is therefore worth paying attention to this when making your choice!
Costs and fees of corporate credit cards
Corporate credit card costs can vary and often include annual fees, transaction fees and currency conversion fees.
Costs can be particularly high abroad, as the exchange fees vary depending on the card provider and additional deductions charged by the ATM or local bank.
It is important to compare the various offers in order to find the best conditions. Some providers corporate credit cards free of charge, especially if a minimum turnover is reached.
You should bear these points in mind when comparing cards!
A thorough corporate credit card comparison is crucial to finding the best corporate credit card for your company. The following criteria should be taken into account:
- Costs: annual fees, transaction fees and possible additional costs.
- Benefits: Additional benefits such as insurance, cashback programmes and discounts.
- Acceptance points: The availability and acceptance of the card at home and abroad.
- Security features: Protection against fraud and misuse.
We pay particular attention to these aspects in our tests! So feel free to discover our company credit card comparison!
The best corporate credit card for use abroad should therefore have the following features:
- Low foreign transaction fees: To minimise the costs of transactions in foreign currencies.
- Wide acceptance: High acceptance by international merchants and service providers.
- Travel insurance: Additional insurance such as trip cancellation, baggage and international health insurance.
- Cashback programmes: To benefit from expenses incurred.
The best corporate credit card for travelling abroad
Below you will find a selection of corporate credit cards that we consider advantageous for business trips. A quick click on the titles of the cards will automatically take you to the detailed tests!
The Miles & More Gold Business Credit Card is an excellent choice for frequent travellers. This card offers a wide range of insurances that are specially tailored to business trips. These include international health insurance, quarantine insurance, travel cancellation insurance and fully comprehensive insurance for hire cars. In addition, you collect award miles with every issue, which are valid indefinitely and can be redeemed for flights, upgrades and other rewards.
The American Express Business Platinum Card offers extensive benefits, including a large insurance package that also covers all employees with additional cards. This card provides free access to over 1,400 airport lounges worldwide and offers attractive welcome bonuses and credit with various partners. With an extended payment limit of up to 58 days, it also supports cash flow management within the company.
The N26 Business Smart credit card is particularly attractive for companies that value simple and fee-free payments in foreign currencies. With this card, users can pay in foreign currencies worldwide without additional fees and benefit from a wide range of functions in the N26 app. For example, the management of sub-accounts (‘Spaces’) and the option to pay via Apple Pay and Google Pay. Cash withdrawals are also partially free of charge, depending on the subscription.
The Bunq Easy Money Business Card offers a flexible solution for companies with up to 25 virtual credit cards, each of which can be assigned to a sub-account. This card enables fee-free payments in over 16 different currencies and offers 1% cashback in restaurants and bars. In addition, the Bunq app facilitates the management of VAT and other financial transactions through functions such as ‘Auto VAT’.
The Commerzbank Business Card Classic is a low-cost option with an annual fee of €34.90. This card offers worldwide acceptance, monthly card statements and easy integration with Apple Pay and Google Pay. However, fees apply for cash withdrawals and payments outside the Eurozone. This card is ideal for separating personal and business spending and offers a reputable and reliable means of payment.
Can these credit cards also be used privately?
Private use of company credit cards is generally not permitted and can lead to significant tax and legal consequences. Companies should establish clear guidelines to prevent personal use and ensure that all expenses are correctly recorded and accounted for.
How to apply for corporate credit cards?
Applying for a corporate credit card is usually straightforward. Companies must submit an application to the bank or credit card provider and submit certain documents, such as an extract from the commercial register and annual financial statements. After a credit check, the card is usually issued within a few weeks.
Is a corporate credit card especially for abroad worthwhile?
A corporate credit card specifically for use abroad is worthwhile in many respects. It offers companies and their employees numerous advantages such as simple spending management, a high level of security, currency independence and often attractive cashback programmes. In addition, companies avoid high exchange fees through the targeted use of such credit cards and benefit from travel insurance and other additional services.
Overall, a corporate credit card designed for international use contributes significantly to the efficiency and transparency of company finances and is therefore a recommended investment for globally active companies.
