There are many reasons that a business might consider a company credit card, such as the need for flexible spending, extending purchase authority to others on the team, cashback, and expense tracking, to name a few. Chesapeake Bank has several corporate card solutions to fit your business.
While it isn’t common for community banks to offer a corporate card the need was obvious. Customers were asking for it—and some like Brook Thomas of Air Care, Inc. in Hayes, VA, were persistent.
Brook challenged Chesapeake to offer a corporate credit card because he needed one and didn’t want to work with another bank.
“There are things that are more important to me than half a percent on a credit card rate,” says Brook. “Chesapeake Bank holds the commercial loan for our business and our merchant services and business bank accounts. They also have my vehicle loans, my personal money, and my personal mortgage. I know when I call Johanna Northstein or Melissa Crawford, they’ll be there, day or night. That’s what matters to me.”
But he wasn’t the only one. “I started keeping a list of who had asked for corporate credit cards in a six-month period and saw a need,” said Melissa Crawford, Director of Business Services, V.P. Melissa later took those findings to Senior Management and got approval to pursue the right product.
As a result, we offer three corporate card solutions:
The difference between cards:
The main difference between our credit cards and purchase card is that both credit cards are less restrictive than the purchase card on spending limits. They also allow you to carry a balance over month-to-month. The purchase card is designed to be paid in full and gives owners more control over how cards are used and expenses are allocated.
What our customers say, matters:
“The addition of our corporate card program was to build a stronger suite of products to serve our corporate and non-profit customers and to strengthen our relationships with them,” says Melissa. “They don’t have to go somewhere else to get another service to help them do business.”