How Your Credit Card Can Save You Money On Business Purchases
Do you need to save on your business expenses? Some business credit card users like to use a reward card that offers valuable points, miles, or cash back. Other business cardholders seek to save money on interest charges by using a card that has a low interest rate or one that offers 0% APR promotional financing. But no matter which type of business credit card you use, there are savings programs that are offered by your credit card’s payment network, not the card issuer itself.
American Express OPEN Savings Program
American Express offers its OPEN Savings program to all of its business credit card users. When you make a purchase from an eligible merchant, you can earn 5% cash back. Alternatively, those who hold a credit card that offers Membership Rewards points can earn two extra points per dollar instead. Currently, the companies that participate in the OPEN Savings program include FedEx, FedEx Office, Hertz, HP.com, 1800Flowers.com, and BN.com (Barnes & Noble). These OPEN Savings discounts do not have a limit to how much you can save, and you can combine this offer with any other promotions.
Visa Savings Edge
Visa business credit card holders can enroll their cards in the Visa Savings Edge program that offers discounts on a wide range of purchases. Once enrolled online, cardholders receive cash back automatically when they make an eligible purchase. For example, it currently offers a 1% discount when buying gas from Texaco and Chevron, 4% back when making purchases from GoDaddy, and 2% from electronics retailers TigerDirect.com and Lenovo. When traveling, Visa Business cardholders can receive 5% off Wyndham and Ramada hotels and a 4% discount when renting a car from National or Alamo.
In addition, Visa offers a smart phone app that allows cardholders to see what discounts are available in their area, and the terms of each offer. There is no cost to enroll in this program.
Like the savings programs from American Express and Visa, MasterCard also offers a discount program for business credit card users called EasySavings. This program also is free to enroll in, and offers discounts on travel, dining, and business services. For example, MasterCard business cardholders can save 5% on DHL, Avis car rental, and Bing adds. There is also a 4% savings offered at over 15,000 restaurants in their network.
How to Save the Most Money with These Programs
The beauty of these programs is that business credit card users can save money automatically, but only once they are enrolled. Cardholders don’t have to make their purchases from a different website, ask for any special discounts, or waste time requesting rebates. So long as the charge is in the name of an eligible company, the discount will automatically be subtracted from your monthly statement.
The first step to using these programs to save money is to take a moment to enroll your eligible cards in their respective discount programs. Next, see which companies are participating in each program. Then, you can use your card for purchases from those businesses and realize additional savings just for having a credit card from a particular network. By being aware of these discount programs for business credit cards, you can save more money on your business purchases than you might have thought.