Understanding Divvy Credit Cards and Their Benefits

Divvy credit cards are a great option for businesses and individuals who want to manage their expenses more effectively.

They offer virtual credit cards that can be used for online transactions, eliminating the need for physical cards.

Each virtual card has its own unique number and expiration date, adding an extra layer of security and making it easier to track expenses.

Divvy credit cards also offer real-time expense tracking, allowing users to see exactly where their money is going.

This feature is especially useful for businesses that need to track employee expenses or manage large teams.

Divvy credit cards can be used for a wide range of expenses, from office supplies to travel costs.

They also offer a mobile app that allows users to easily track and manage their expenses on the go.

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The BILL Divvy Corporate Card is a business credit card that's designed for rapidly growing organizations and sole proprietors. It's a no-annual-fee card that offers additional points on purchases if you pay your bill weekly or semi-monthly.

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This card is perfect for those who want to take more control over their business spending and automate much of the clerical work involved in owning a small business. It's also a good option for those who have already opened most other popular small-business cards and are looking for something outside the realm of Chase, Amex, Citi, and other major issuers.

The BILL Divvy Corporate Card is suitable for businesses of any size, but some of its notable features may not be of use to small businesses with limited payroll needs. To be eligible for this card, you'll need to have "good to excellent" credit, which is defined as a credit score of 670 or higher.

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The BILL Divvy Corporate Card offers a no-annual-fee option, which is a significant advantage over many other business and corporate cards.

You'll also get unlimited physical and virtual cards for all employees, free of charge, which can help eliminate additional cardholder fees.

The card doesn't require a personal guarantee from the business owner, nor does it conduct a hard credit inquiry, making it a more accessible option for businesses.

The BILL Divvy card has a customizable rewards structure tied to the payoff cycle selected at the time of application, allowing you to choose your own earning rates.

The card's budgeting features include creating budgets by department, team, or project, and assigning permissions that let managers approve or deny funding requests instantly via mobile notifications.

BILL's optional Bill Pay service lets you 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.

Here are the different reward-earning tiers for the Divvy card, based on your payment schedule:

The rewards you earn can be redeemed for Divvy Travel, cashback, gift cards, or statement credit, with different redemption values based on your payment schedule.

You can redeem 100,000 points for $1,000 in Divvy Travel, $520 in cash back, $510 in gift cards, or $490 in statement credit, as long as you spend at least 30% of your credit line each month.

The Divvy card also offers other perks, such as $25,000 in Amazon Web Services credit spread over two years, and rotating discounts with corporate partners like Google Ads, FedEx, and Lyft.

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Using a divvy credit card can be a game-changer for your finances. You won't have to worry about carrying a balance, as you're required to pay your bill in full, no matter which billing schedule you choose.

The Bill Divvy card is a great example of this, as it functions more like a charge card than a traditional credit card. This means you'll never have to pay interest on your purchases.

Paying your bill in full also means you won't have to deal with the hassle of interest charges. And, as an added bonus, you'll save money on interest charges that would have been tax-deductible on a business credit card.

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Applying for a Divvy credit card is a straightforward process. You can start by going to the Divvy application homepage and walking through the steps.

To begin, you'll need key information about your business, such as a legal business name, physical address, entity type, and business EIN or tax ID number. You'll also need personal information, like date of birth and social security number, for everyone who owns 25% or more of the company.

Divvy requires financial information, including annual business revenue and ideal credit line amount. You'll need to connect your business bank account to Divvy, which allows the company to verify your bank balance and transactions.

Applying for the Divvy card doesn't require a personal guarantee or a credit check. Divvy's approval and offered credit limit are based on your business's financial well-being.

Here are the key requirements to qualify for Divvy:

When you apply, you'll need to provide information about your business, including:

Divvy checks both personal and business credit, but it doesn't specify a minimum personal FICO score or minimum business credit score. A soft inquiry is created when Divvy checks your credit, which doesn't impact your credit scores.

If you're looking for alternatives to the Divvy card, there are several options to consider. Some of these alternatives include Airbase, Ramp, and Brex, which offer similar expense management tools and cashback rewards.

Airbase, for example, offers 1.6% cashback on charge cards and 2.2% on prepaid cards, but it's not necessarily free. Ramp, on the other hand, has a cash back rate of 1.5% across the board, but requires a larger cash balance of $75,000.

If you're looking for a card specifically for building credit, you might want to consider the Self card or the Destiny card, which are both secured cards.

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Cross River's BIN sponsorship is a complete solution that allows companies to issue customized cards with full optionality and flexibility. This means that Divvy was able to choose their own processor, Marquetta, and card network, Visa.

Their strong relationships with card networks and processors are a key part of their solution. This enables them to provide a powerful solution for companies like Divvy.

Cross River's flexible program allows integration with any processor of choice, making it a versatile option. This flexibility is a major advantage for companies that have specific needs.

Their dedicated implementation management team ensures a smooth and efficient process. This team is responsible for handling the implementation of the solution, making it a hassle-free experience for companies.

Features of the Divvy Card issued by Cross River include automatic spend tracking, budget controls, instant virtual card issuance, tools for reimbursements, cardholder benefits from Visa, and Divvy rewards.

If you're looking for alternatives to the Divvy card, you have several options to consider. The Airbase card offers similar expense management tools, but it's not necessarily free, and it provides 1.6% cashback on charge cards and 2.2% on prepaid cards.

The Ramp card also offers expense management tools, but it requires a larger cash balance of $75K and charges 1.5% cash back across the board. Brex is another option, but it's only available to funded companies and has a complicated funding tier.

If you have poor or bad credit, the Destiny card is a good option. It's designed for individuals with limited or no credit history. For those looking to build credit, the Self card is a secured card that can help you establish a credit history.

Businesses may also want to consider alternatives to the Divvy Business Credit Card. Every business is different, and the card that's right for your startup may be different from a more established business.

Here are some options to consider:

The BILL Divvy Corporate Card has some great features that make it worth considering. No personal guarantee is required, and no hard credit check is performed.

However, there are some requirements to be aware of. You'll need good to excellent credit, a healthy business bank account balance, and you can't be a sole proprietor to qualify.

One of the benefits of this card is that it offers a range of rewards, which vary depending on how quickly you pay off your balance. If you pay weekly, you earn 7x points on restaurants, 5x points on hotels, and 2x points on software subscriptions.

The rewards structure changes if you pay semi-monthly or monthly, with lower rewards rates. You earn 4x points on restaurants, 3x points on hotels, and 1.75x points on software subscriptions if you pay semi-monthly, and 2x points on restaurants, 2x points on hotels, and 1.5x points on software subscriptions if you pay monthly.

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To redeem your points, you can choose from statement credits, gift cards, cash back, or travel. However, there are some restrictions to be aware of. You must spend at least 30% of your credit line in a month, or you forfeit your rewards that month.

Here are some of the card's benefits: