You can also establish a “grace period” of sorts, where the card won’t decline if the cardholder nominally breaches their credit line. If there are unforeseen expenses, the budget owner can release more credit in real time. On the same note, each employee can request a bump in credit from the budget owner. Once they hit the card’s limit, the card will decline. If you’ve got an employee traveling to a conference, you can assign a dollar amount to their card. (Photo courtesy of Divvy)įor example, you can create budgets for each employee to ensure they don’t blow out your credit limit or rack up too many unexpected expenses. Divvy offers an easy-to-understand dashboard with visuals of all your budgets.
It contains graphics reflecting the size of each budget, how much is spent and how much is remaining. The budget feature solves that problem as you can dole out a unique amount of credit for specific situations, only as much as you’re willing to spend.Īs the budget owner, you can view an extremely digestible dashboard of all the budgets you have assigned.
One of the most worrisome aspects of adding an authorized user or employee to your primary credit card is the fact that they have carte blanche access to your credit line. The main feature of the card is the way you can divvy up your corporate card’s line of credit. Herein lies the Divvy Business Card‘s namesake. Not only is there no annual fee for the main account holder, but there’s also no extra fees for requesting employee cards with no maximum limit on employee cards. The Divvy Business Card is easy on the bottom line with no annual fee. I attended a demo of the credit card, and the card does offer an edge over all other small business cards in the above capacities. These are the things Divvy wants to achieve for your small business that other cards may fail to do. You’re running (nearly) every penny of business expenses through Divvy to earn maximum rewards.You’re potentially saving money by accounting for every dollar.While you examine these card benefits, keep in mind two things: (Photo courtesy of Divvy) Sign-up bonusīad news here as the Divvy Business Card currently offers no sign-up bonus. Divvy is one company utilizing technology to transform a company’s approach to expense management. If you can’t get a credit line but still want Divvy’s benefits, you can prepay your account and use the Divvy platform to withdraw from your available funds. But Divvy also offers a helpful (and unlisted) feature for those with poor credit, or even no credit: Divvy Credit Builder accounts (or prepaid accounts). It shouldn’t count against your Chase 5/24 status, as most small business cards don’t appear on your personal credit report.ĭivvy stipulates that this credit card is for those with “good to excellent” credit. This card also may appeal to you if you’ve already opened most other popular small business cards and are looking for something outside the realm of Chase, Amex, Citi, etc. Related: 7 credit cards every freelancer should have in their wallet However, if you have a small payroll with limited needs to extend lines of credit to employees, some of the card’s most unique features won’t be of use to you. It’s very handy no matter the size of your business, as it automates much of the clerical minutiae of owning a small business (we’ll get into that later). The Divvy Business Card is a small business credit card, meaning it’s a good option for organizations that are growing quickly as well as sole proprietors just looking to take more control over their business spending.
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