BILL Divvy Company Card overview
This is a kind of card you have most likely by no means seen earlier than: The BILL Divvy Company Card is a enterprise bank card that transforms the best way you earn — providing further factors awarded on purchases in case you pay your invoice weekly or semi-monthly. This return is much more spectacular as a result of the BILL Divvy Company Card is a no-annual-fee bank card.
Nevertheless, each the profitable bonus classes and the choices for redeeming factors are restricted. Let’s check out whether or not this card will match into your small business technique. Card Score*: ⭐⭐⭐
*Card score relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
The BILL Divvy Company Card is a enterprise bank card, that means it is a good no-annual-fee possibility for quickly rising organizations and sole proprietors who need to take extra management over their enterprise spending.
It is very helpful regardless of the dimensions of your small business, because it automates a lot of the clerical trivia of proudly owning a small enterprise (we’ll get into that later). Nevertheless, in case you have a small payroll with restricted wants to increase strains of credit score to staff, a few of the card’s most notable options will not be of use to you.
This card additionally might attraction to you in case you’ve already opened most different fashionable small-business playing cards and are in search of one thing outdoors the realm of Chase, Amex, Citi and different main issuers. It should not depend in opposition to your Chase 5/24 standing, as most small-business playing cards do not seem in your private credit score report.
BILL stipulates that this bank card is for these with “good to wonderful” credit score, so we suggest a 670 credit score rating or larger earlier than making use of.
Associated: 7 bank cards each freelancer ought to have of their pockets
BILL Divvy Company Card execs and cons
| Execs | Cons |
|---|---|
|
|
BILL Divvy Company Card welcome supply
The dangerous information right here is that the BILL Divvy Company Card at present affords no welcome bonus.
Every day Publication
Reward your inbox with the TPG Every day e-newsletter
Be part of over 700,000 readers for breaking information, in-depth guides and unique offers from TPG’s consultants
That places it at a drawback in comparison with many fashionable enterprise playing cards on the market, which frequently include profitable welcome bonuses.
BILL Divvy Company Card advantages
Whilst you look at these card advantages, have in mind two issues:
- You are probably saving cash by accounting for each greenback.
- You are working (practically) each penny of enterprise bills by way of BILL to earn most rewards.
These are the issues BILL desires to attain on your small enterprise that different playing cards might fail to do. I attended a demo of the bank card, and the cardboard does supply an edge over all different small-business playing cards within the above capacities.
The BILL Divvy Company Card can also be straightforward on the underside line with no annual price, plus no further charges for requesting worker playing cards and no most restrict on worker playing cards.
The principle function of the cardboard, although, is the best way you’ll be able to divvy up your company card’s line of credit score.
One of the crucial worrisome points of including a certified consumer or worker to your main bank card is the truth that they’ve carte blanche entry to your credit score line. The price range function solves that downside as you’ll be able to dole out a singular quantity of credit score for particular conditions, solely as a lot as you are keen to spend.
Because the price range proprietor, you’ll be able to view a particularly digestible dashboard of all of your assigned budgets. It accommodates graphics reflecting the dimensions of every price range, how a lot has been spent and the way a lot stays. You can even create limitless budgets.
For instance, you’ll be able to create budgets for every worker to make sure they do not blow out your credit score restrict or rack up too many surprising bills. If an worker travels to a convention, you’ll be able to assign a greenback quantity to their card. As soon as they hit the cardboard’s restrict, the cardboard will decline.
On the identical notice, every worker can request a bump in credit score from the price range proprietor. The price range proprietor can launch extra credit score in actual time if there are unexpected bills.
You can even set up a “grace interval” of types, the place the cardboard will not decline if the cardholder nominally breaches their credit score line.
With BILL Divvy, you may give completely different permissions to completely different cardholders. If, for some purpose, you need to give one other cardholder entry to account data, you are able to do this with out handing over your private login credentials.
Even if you cannot use your BILL Divvy Company Card for all purchases, you’ll be able to nonetheless enter any expense into BILL Divvy and reimburse your self for purchases you make with out the BILL Divvy Company Card by way of ACH deposits without spending a dime.
Incomes factors on the BILL Divvy Company Card
The part you have been ready for. The BILL Divvy Company Card earns rewards on all spending (fairly generously, in some classes).
One (unlucky) catch is that you simply will not earn factors for reimbursements. That might have been a gold mine for factors and miles fans.
Briefly, the BILL Rewards technique is to make extra bills rewardable than different small-business bank cards. What you earn relies on two issues:
- Which bonus classes you spend in
- How usually you pay your invoice
This is what you will earn.
| Cost frequency | Eating places | Lodges | Recurring software program subscriptions | All different purchases |
|---|---|---|---|---|
| Weekly | 7 factors per greenback | 5 factors per greenback | 2 factors per greenback | 1.5 factors per greenback |
| Semi-monthly | 4 factors per greenback | 3 factors per greenback | 1.75 factors per greenback | 1 level per greenback |
| Month-to-month | 2 factors per greenback | 2 factors per greenback | 1.5 factors per greenback | 1 level per greenback |
Earn as much as 7 factors per greenback at eating places — on a no-annual-fee card? That definitely sounds above common. However let us take a look at find out how to use these factors and the way a lot they’re price.
Associated: What’s the perfect enterprise bank card for eating purchases?
Redeeming factors on the BILL Divvy Company Card
You could redeem your factors by way of the BILL Rewards on-line platform.
Specify what number of factors you need to redeem and select a redemption technique:
BILL Divvy Rewards are price, at most, 1 cent every. To redeem factors, you will must accrue no less than 5,000 factors in your first cardmember 12 months, and your account should be no less than one 12 months previous. Listed below are the assorted methods to spend your factors and the worth you will obtain for every possibility.
| Redemption sort | Worth per level |
|---|---|
| BILL Divvy journey | 1 cent per level |
| Present playing cards | ~0.51 cents per level |
| Assertion credit score | ~0.49 cents per level |
| Money again | ~0.52 cents per level |
As you’ll be able to see, factors are price about half a cent for many redemptions. In case you’re utilizing this card to earn money again and pay your invoice weekly, that is like incomes:
- 3.6% again at eating places (7 factors per greenback)
- 2.6% again at motels (5 factors per greenback)
For a no-annual-fee card, that is fairly good. Nevertheless, all different incomes eventualities with this card aren’t as nice.
In case you want to make use of your rewards for journey, your return shall be a lot higher — however you are now competing with an elite catalog of journey bank cards that may typically internet you much more worth on your spending if you recognize the perfect methods to maximise these rewards.
However, here is the method for utilizing your BILL Divvy Rewards factors for journey:
- Pay for journey with the BILL Divvy Company Card
- Click on “Redeem Rewards” in your BILL dashboard
- Fill out the rewards kind with the variety of factors you need to redeem
- Submit the shape
BILL Divvy Rewards says that your redemption shall be processed inside 10 enterprise days.
The method is a two-edged sword. You may e-book instantly with the journey supplier as a substitute of going by way of a third-party portal, which is nice information for these wanting to make use of factors for motels, as you sometimes solely earn elite night time credit, elite advantages and lodge factors in case you e-book instantly.
Nevertheless, you should use the BILL Divvy Company Card to order your journey, that means these with airline or lodge bank cards will not be capable to earn further rewards or kick in built-in journey protections on these purchases.
Which playing cards compete with the BILL Divvy Company Card?
There are many different enterprise playing cards that could be a greater match on your firm:
For extra choices, take a look at our information to the finest enterprise bank cards.
Associated: Is the Amex Enterprise Gold definitely worth the annual price?
Is the BILL Divvy Company Card price it?
In case you’re looking for a enterprise card with no annual price that has an excellent earnings construction and affords a variety of management over worker spending, the BILL Divvy Company Card is a worthwhile selection. If you’d like higher flexibility along with your rewards, there are higher choices in the marketplace for your small business.
Backside line
The BILL Divvy Company Card introduces some fascinating perks to the enterprise bank card world.
You may give staff various levels of account entry, set strict budgets for every worker card and reimburse your self for bills out of your private cost technique to maintain inside price range. And apparently, you are rewarded primarily based on the frequency with which you repay your steadiness. You may earn probably 3.5 instances extra factors by paying your invoice weekly as a substitute of month-to-month.
Even when the BILL Divvy Rewards system is not the perfect, which may be sufficient to spur many enterprise house owners to offer it a attempt.
Associated: Methods to get a enterprise bank card
For charges and charges of the Amex Enterprise Gold, click on right here.
