Our client was using personal credit cards to manage each entity, corporation and building under management and that his monthly expenses were covered. However, those expenses were being reported to his personal credit bureaus since he was unable to obtain the business credit lines he needed to manage and grow his portfolio. Since the business was spending significant sums each month (100k+ monthly) it was negatively affecting his credit score. Additionally, using personal credit cards for business expenditures created a potential personal legal liability. Maintaining individual credit cards for each entity, each with its own due date and credit line, quickly became overwhelming and inefficient. Putting aside the fact the cards he was using weren’t earning the highest and best cash rebates.
Asset management company with multiple residential and commercial properties and tens of cards in use, issued one corporate card, managed from one dashboard with a customized rebate.
Asset management company with multiple residential and commercial properties.
Client required multiple credit cards to maintain business operations. He wanted to manage everything in one place, with one due date, and a single credit limit sufficient to cover business spend across all of his holdings. He also wanted to determine which vendors and expenses could be converted to payment via credit card thereby earning a cash rebate.
We introduced the client to a corporate credit card solution that did not require a personal guarantee to ensure that he and his assets were fully protected. The client was also provided with access to a simple dashboard which allowed him to customize credit limits and provided advanced controls for each card in use. Our vendor analysis identified vendors that could be paid with his corporate card, generating cash rebates and reducing check payments.