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Kelvin Murray/Getty Images November 04, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Kelli Pate is a former contributor to Bankrate and a freelance writer and copy editor living in Kansas City, though she's a Jersey girl at heart. When she's not writing about personal finance and credit cards, she's immersing herself in the world of travel hacking. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Bankrate logo The Bankrate promise
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. For business owners and entrepreneurs, there’s nothing funny about fraud. But if your finance team still relies on old-school spreadsheets for expense management, your inefficient system is likely more vulnerable to human error and sham expenditures than you might think. Many of today’s can help ease the pain of managing expenses thanks to built-in tracking tools, accounting software integrations and spend controls. Here’s what you need to know about the Divvy Business Card, a corporate card that offers all those features and more. What is the Divvy card
The is a smart that pairs with financial software to fully automate the expense-management process for small- and medium-sized companies. The cloud-based Divvy platform lets business owners and managers monitor company spending in real time via instant notifications for every card swipe, eliminating the need for workers to file expense reports manually — and for finance and HR teams to process them manually, too. With the Divvy card, companies can create recurring or one-time spending budgets organized by event, team, location, project and vendor. You can also set individual spending limits for every cardholder within each budget category (and adjust them as needed on the go). Plus, you can approve department and employee requests for reimbursement of out-of-pocket expenses and mileage. Unlike some that charge for each additional cardholder, Divvy provides free physical and virtual cards for all employees. The entire Divvy platform, in fact, is free — the fintech company makes money by taking a cut of interchange fees paid by merchants to cover the cost of processing a Divvy card transaction. Divvy card benefits
The no-annual-fee Divvy Business Card offers a variety of features to help companies confront many of the more burdensome aspects of financial management, such as monitoring a business’s cash flow and working capital needs, tracking employee expenditures (without relying on cumbersome spreadsheets or sorting through stacks of paper receipts) and preventing overspending. Here’s what you need to know about some of the Divvy card’s biggest benefits: Earn rewards for everyday expenses
Like most business credit cards, the Divvy card for everyday spending. But unlike most business cards, the rates are determined by your payoff schedule. The more often you pay off your Divvy card balance — such as weekly, semimonthly or monthly — the more rewards you can earn. Here’s what that looks like: Category Weekly payments Semimonthly payments Monthly payments Restaurants 7X 4X 2X Hotels 5X 3X 2X Recurring software subscriptions 2X 1.75X 1.5X Everything else 1.5X 1X 1X Rewards earned with the Divvy card can be used for statement credits, cash back, gift cards or travel booked directly with Divvy. And thanks to a handy little on Divvy’s website, you can easily see the potential value of your points for each redemption method. Travel seems to be the most lucrative redemption option, with a value of 1 cent per point. Meanwhile, points are worth 0.5 cents each for statement credits, and cash back. While you have to select a billing cycle at the time of your Divvy card application, you can change it later. This could potentially allow you to based on seasonal business slumps or particularly busy travel periods. Reduce fraud and overspending
In addition to free physical cards, Divvy also offers for customers. Each virtual card has a unique 16-digit number, which allows you to monitor and track individual cards. You’ll be able to customize monthly spending limits and where the card can be used, along with how long the card stays active. Using a virtual card is recommended when shopping online, when making one-time purchases or managing subscriptions (such as those for software and licenses). Save time and money
The Divvy card functions more like a than a traditional credit card, meaning you won’t be able to carry a balance on it. You’re required to pay your bill in full, whether you choose a weekly, semimonthly or monthly billing schedule. Although interest charges on a business credit card , using the Divvy card means you won’t have to pay interest in the first place. Build business credit
Similar to a high , a good can make it easier to obtain financing with favorable rates and terms. It can also help you negotiate better trade deals with vendors and make your business more attractive to potential investors, if that’s something you’re interested in. Divvy reports your card balances and payments to the (SBFE), a nonprofit trade association in the U.S. that gathers small business payment data and makes the information available to four commercial credit reporting bureaus: Dun & Bradstreet, Equifax, Experian and LexisNexis Risk Solutions. Additionally, as of April 2021, Divvy also reports payment behavior to directly. By making all of your Divvy card payments on time and in full, you can build a positive to better position it for long-term success. Access to special offers
In addition to ongoing spending rewards, Divvy’s corporate partnerships provide Divvy cardholders with access to a ton of rotating promotional offers. These offers may include dollar or percentage discounts at places like Google Ads, Adobe Creative Cloud, Vistaprint, Carta, BambooHR, Verizon Wireless, Amazon Web Services, FedEx Office and more. How does the Divvy card compare to other business cards
Most business credit cards, albeit to varying degrees, offer similar benefits: Access to fast financing in a pinch, reporting tools for easier bookkeeping, purchase rewards, separation of business and personal expenses, a way to build business credit, more control over employee spending and more. However, the combined features of the Divvy card and the financial software that preceded it create a holistic expense management platform that helps Divvy stand out from the pack. With the Divvy card, you’ll get: No annual fee. The Divvy card has no annual fee, whereas many other business and corporate cards do, particularly if they’re . No fees for employee cards. Additional cardholder fees can add up quickly, but the Divvy card provides unlimited physical and virtual cards to . No personal guarantee. With many business cards, the risk associated with late payments or unpaid balances falls on the individual cardholder. The Divvy card, however, doesn’t require a personal guarantee from the business owner, nor does it conduct a . Customizable rewards structure. Most business and corporate cards offer rewards on spending, but the in that its rewards structure is tied to the payoff cycle selected at the time of your application. This effectively lets you choose your own earning rates. Budgeting features. Divvy’s software includes robust budgeting tools. You can create budgets by department, team or project, or assign permissions that let managers approve or deny funding requests instantly via mobile notifications and more. Integrated bill pay. Divvy’s optional service means you can take care of bills and invoices within the same software, creating a one-stop shop for accounts payable while still giving you control over when approved payments are actually funded. Should you get the Divvy card
Whether or not you should sign up for the Divvy card depends on how much value you’re planning on getting out of the card. Many other business credit cards provide valuable sign-up bonuses, annual statement credits worth hundreds of dollars and premium perks you won’t find on the Divvy card. That’s because Divvy started out as free financial software for businesses, and the Divvy card came later. As a stand-alone business credit card, it’s fine. But if all you’re looking for is a dedicated business credit card, you can probably find more lucrative rewards and benefits elsewhere. However, if you’re looking for a more comprehensive way to manage your company’s finances, the Divvy card is worth considering. When you evaluate the Divvy card as part of a holistic platform that enables businesses to control company spend, create and manage budgets, access capital, automate the expense reporting process and more, it becomes a lot easier to see its value. How to maximize the Divvy card
Choose the weekly payoff plan. If you’re able to pay off your balance on a weekly basis, you’ll earn 7X points on restaurants, 5X points on hotels, 2X points on recurring software subscriptions and 1.5X points on everything else. Redeem points for travel. The most valuable way to is for travel through Divvy since you’ll get a value of 1 cent per point. Take advantage of virtual cards. There’s no limit to how many virtual cards you can get. Plus, they’re free and you can customize and manage them remotely. You can set up a card for each vendor, set spending limits, monitor transactions in real time and more. Although virtual card benefits are growing in popularity, it’s not something every business card has. Use Divvy’s financial management software. The main reason to get the Divvy card is if you already use Divvy’s financial software or you’re looking to streamline your business’s spend and expense management. The bottom line
For business owners interested in more efficiently monitoring company spending, the is a great choice since the card is paired with financial software to fully automate the expense management process. You’ll also have access to a variety of other great benefits, including rewards on spending, free company cards and no annual fee. SHARE: Kelli Pate is a former contributor to Bankrate and a freelance writer and copy editor living in Kansas City, though she's a Jersey girl at heart. When she's not writing about personal finance and credit cards, she's immersing herself in the world of travel hacking. Liz Bingler is an Associate Editor for CreditCards.com and Bankrate, where she focuses on product news and reviews. As an editor, her goal is to produce content that will help people to make informed financial decisions. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Related Articles