Starting and running a successful business takes a lot of hard work and dedication. One of the most important things you need to do is separate your personal and business finances. Using a business credit card like the Divvy card can help you establish business credit, keep track of expenses, and manage cash flow. In this comprehensive guide, we’ll explore the key benefits of the Divvy business credit card and how it can set your company up for success.
What is the Divvy Business Credit Card?
The Divvy business credit card is designed specifically for small business owners. It offers a host of features tailored to help entrepreneurs track expenses, build business credit, manage employee spending, and more. Key features and benefits of the Divvy business credit card include:
- No personal credit check or guarantee required to apply
- reporting to personal and business credit bureaus
- 1.5% cash back on all purchases
- Integrates with popular accounting software
- Virtual cards for each employee
- Set spending limits and budgets for staff
- $0 fraud liability
Unlike consumer credit cards, the Divvy card does not require a personal credit check or guarantee. This means it won’t impact your personal credit score. However, responsible use of the card will be reported to both personal and business credit bureaus, helping you establish a business credit profile.
Build Business Credit with the Divvy Card
One of the biggest obstacles for new entrepreneurs is access to financing and credit. Most business owners rely heavily on personal credit cards and loans when starting out. This not only takes a toll on your personal credit, but also fails to build any business credit history. The Divvy card changes this by reporting account activity to both personal and business credit bureaus, including Experian, Equifax, and Dun & Bradstreet. Simply making on-time payments will help establish a positive payment history in your business’s name. This is extremely valuable, as lenders look at business credit reports when you apply for financing. Having strong business credit can help you qualify for business loans and lines of credit in the future.
Track Expenses & Cash Flow Seamlessly
Running a profitable business requires keeping close tabs on your income, expenses, and cash flow. The Divvy card makes this simple through their intuitive web and mobile app. You can set custom budgets across categories to keep spending aligned with forecasts. Get notifications when you near budget limits so there are no surprises. The interactive charts and reporting give you real-time insight into where money is going in and out. Divvy also integrates with popular accounting software including QuickBooks Online, Xero, and Sage Intacct. Expenses sync over automatically, eliminating manual data entry. This saves you significant time and ensures accuracy. Having all your spending in one place makes tax time easier too. Simply export reports to share with your accountant. The level of tracking and visibility the Divvy card provides is extremely valuable for all business owners.
Manage Employees & Control Company Spend
Employees may need company cards for travel, materials, or other business expenses. The Divvy card allows you to issue unlimited virtual cards that can be customized for any situation. Set flexible spending limits, tailor merchant restrictions, and toggle between one-time and recurring use. Virtual cards work just like regular cards for online and in-person transactions. You stay in full control through the web dashboard. Get notifications on all card transactions in real-time. Freeze misplaced cards instantly. Set up auto-expiration dates. Managing company and employee spend is easy with Divvy.
Also Read: Best Small Business Credit Cards of 2024
Secure Your Business with $0 Fraud Liability
Unfortunately, credit card fraud is a growing threat all companies face. The Divvy card provides complete protection against unauthorized charges or identity theft. You’ll enjoy $0 fraud liability and access to 24/7 dedicated support. Lost or stolen cards can be frozen immediately through the mobile app. Get text and email alerts on any unusual activity so you can take swift action. For additional security, virtual cards can be locked for use with only specified merchants or transactions. Protect your business finances against fraud with the security features packed into the Divvy card.
Earn Cash Back on All Purchases
A nice perk of the Divvy card is earning cash back on all eligible purchases. You’ll earn 1.5% cash back on everything you spend through the card. These earnings add up quickly, especially as your business grows. It provides a nice chunk of change you can use for other investments or expenses. Redeeming rewards is easy through the Divvy dashboard. Cash back can be applied as a statement credit or deposited into your bank. It’s an effortless way to earn a little extra as you build your business.
How to Qualify for the Divvy Business Credit Card?
An attractive aspect of the Divvy card is that it doesn’t require a personal credit check or guarantee to apply. Here are the basic eligibility requirements:
- Minimum 1 year in business
- $10,000 in annual revenue
- Applicants must be 21+ years old
- Business must be based in the U.S.
As long as you meet these criteria, you have a good chance of being approved. The entire application process is online and only takes a few minutes.
Divvy offers both Mastercard and Visa options. You can choose the network that makes sense for your type of business. Cards are issued through Sunrise Banks N.A.
Apply in Minutes for the Divvy Business Credit Card
Every business needs a dedicated credit card to keep operations running smoothly. The Divvy business credit card provides a robust set of tools to manage expenses, maximize cash flow, build credit, and secure your company finances. Signing up is quick, easy, and does not require staking your personal credit. Responsible use means you can establish business credit history as you grow. Valuable perks like 1.5% cash back and accounting software integration make Divvy stand out from other options. If you’re looking to get your business off the ground or take things to the next level, the Divvy credit card can set you up for success. Visit their website today to apply online in just a few minutes!
Frequently Asked Questions (FAQ)
What kind of businesses is the Divvy card good for?
Divvy works very well for all types of small businesses, including online businesses, retailers, restaurants, professional services, contractors, and more. It’s designed for any entrepreneur looking to separate personal and business finances.
Can I get a Divvy card if I have bad personal credit?
Yes, Divvy does not do a personal credit check, so your personal credit score or report is not a factor. They review basic information on your business when you apply.
Is there an annual fee for the Divvy card?
No, there is no annual fee to use the Divvy business credit card. It’s a free service.
How long does it take to get approved for a Divvy card?
Divvy aims to provide instant approvals and new card delivery within 5-7 business days after approval. So you can get up and run quickly.
Can I set spending limits on employee cards?
Yes, when you issue virtual employee cards you can customize spending limits, toggle one-time or recurring use, set merchant restrictions, and expiration dates.
What information do I need to apply for a Divvy card?
You’ll need basic information including your name, birthdate, Social Security Number, business name, business address, business tax ID, and annual revenue.
The Divvy business credit card provides an unmatched combination of benefits for small business owners looking to establish business credit, control spending, and earn rewards. With no personal credit check or guarantor required, it’s accessible even for newly established businesses. The ability to separate business and personal expenses, build credit, manage employee cards, integrate with accounting software, and get 1.5% cash back makes Divvy a favorite among entrepreneurs. It enables you to take control of your finances and set your business up for success. If you’re looking for a business credit card, Divvy should be at the top of your list. They provide leading tools and features other cards simply don’t offer. Divvy offers 5 star payment processing solutions and services. They have various online payment options that are secure, easy and fast. Applying is quick and easy – you can be approved instantly. Let Divvy become your partner on the path to small business success. Sign up today to enjoy the benefits that have made it the first choice for so many entrepreneurs across the country.