Corporate credit cards

Corporate credit cards are basically associated with the corporate and provided to the employees as plastic money to maintain various expenses like

•Travel
•Boarding &lodging
•Food expenses
•Services in hospitals, retail outlet
•Entertainment

These expenses are listed as the operating costs of the corporate and helps maintain an aggregate expenditure, instead of imparting the cash to individuals,and making a consolidated payment to the bank. The banks also extend various benefits like –

•Insurance facility
•Reward points
to the corporate depending on their usage, history etc.

Corporate cards can come with corporate liability or individual liability and depending on terms and conditions, a credit limit given. The documents required would generally be an

•identity proof and
•income/salary/financial report

The different fees and charges comprise of
•Membership fees
•Advance fee
•Charges on transactions
•Interest levied
•Late fees
•Service tax

The Credit card bill is sent as credit card statement in mail, post or by other modes and states the transactions, minimum amount for payment, interest charged on overdue transactions etc. This is paid either by the employees or the corporate through service channels as cheque/draft or online.