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TRADING CARDS Concept, what is? How does it work?


Concept, what is? How does it work?

Business cards definition:

What is a commercial card?
This card is issued by the financial companies of large commercial chains, allowing purchases to be made at the issuing establishment and up to a previously agreed limit. Sometimes commercial establishments reach agreements with financial entities and issue these cards in conjunction with credit cards.

Commercial cards are generally used as a financing instrument for purchases made in the establishment's network of stores, within the agreed credit limit. There are also commercial cards that are "pure" credit cards and can be used universally. Likewise, they allow the holder to finance purchases at the establishment's term (with or without interest).

Characteristic business cards

What are the benefits of using a Business Card?

Among the main benefits of using a business card, we have:
  • Security: Carrying a business card is safer than transferring cash or checks because, in case of theft or loss, you can report it to cancel it, thus avoiding monetary losses.
  • Convenience: With a commercial card, you can make purchases without having to wait for a return. When making a payment, it's easier to take out your card than write a check or take out your money and count it.
  • Control: Unlike using cash, with a commercial card, you can keep track of your expenses because when you make each purchase, you are given a printed voucher. You can view your monthly expenses, the date, and the place where you made the purchases.
  • Efficiency: With a commercial card, you avoid the inconvenience of handling cash, such as the risk of receiving counterfeit bills, small coins, or that businesses do not have change.
  • Online shopping: A business card allows you to buy online safely, thanks to the CVV2 security code it has, which consists of a series of 3 numbers behind the card.

  • Promotions and discounts: Some commercial cards allow the accumulation of points for your consumption and discounts when using your card in individual businesses.

Security recommendations for business cards:

How to take care of the business card?
  • Treat and protect your business card as if it were cash. That is, never leave it out of your possession or control.
  • Do not leave your business card in the car's glove compartment, as a high percentage of card thefts are thefts from the glove compartments.
  • Do not lend your business card to anyone. You are the person responsible for its use.
  • Don't let others use your business cards, not even your family and friends. Don't share your password.

Actions in case of emergency with commercial cards

How to block a business card in an emergency?
  • First, you must contact the issuing entity of the commercial card as soon as possible. You will find the emergency number on the back of the card or the financial institution's website.
  • You must provide the validation data that the operator will request to verify that he is communicating with the affected party. For example, the last digits of your card, date, and amount of the last transaction you made, other products you have with the financial institution, among others.
  • The card will be blocked, and you must request a new commercial card from the commercial chain's financial institution.
  • According to each bank, the replacement of the commercial card has a cost that will be debited from your card account.

Cancellation of commercial cards:

How to cancel a business card?
  • Make sure that there is no debt or any amount in the account associated with the commercial card.
  • Once this is done, you can request the cancellation of the commercial card from the financial institution. Unlike debit cards, commercial cards are not automatically canceled in the absence of movement in a certain period.
There are other types of bank cards and business cards: debit cards, credit cards, prepaid cards, or revolving cards. According to your need, you must choose the ideal card for you.

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