![]() The amount that can be charged is determined by your Mercury account balance.īenefits include a free FICO score, the ability to issue unlimited virtual cards, 1.5% cash back, Treasury accounts with high APY for high balances, and access to capital and venture debt investors. ![]() However, you can take advantage of a repayment moratorium that puts your due date up to 23 days after the close of each billing period. The balance must be paid off in full every month. The Mercury IO Corporate Card, like many business cards, is a charge card rather than a credit card. Pros and Cons of Mercury Corporate Credit Card Pros of Mercury Corporate Credit Card Mercury Treasury accounts can earn up to 2.6% interest. If your company can maintain $250,000 or more in deposits, it will have access to Mercury Treasury, an automated cash management account that puts surplus cash balances into money market funds for improved yield and security. Moreover, no personal credit check is made, nor is your personal credit score taken into account. There is no minimum balance requirement for a standard account. Personal details, such as your SSN and ownership interest in the company, will also be required. To open an account, you must submit details about your business, including a copy of its formation documents. But Mercury will not accept applications from a sole proprietorship or trust (even those with an EIN), and neither will it accept applications from companies in the money services, adult entertainment, marijuana, or internet gambling industries. The Mercury card is only open to US businesses that have an Employer Identification Number (EIN).
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