Entrepreneurs must have a company credit card since it allows them to separate their personal and corporate finances. It facilitates the development of a good company credit profile, makes spending tracking easier, and gives specific credit lines for business expenses in addition to other beneficial benefits. This promotes sustainable growth and financial stability by assisting with efficient money management, building credibility, and gaining access to funding options.
Today we have Divvy business credit card for you which is a business credit cards and also offers amazing rewards and incentives. We have covered everything about the Divvy corporate card like how it works, benefits and rewards, pros and cons, and some of the best alternatives as well.
Introduction to what is a divvy credit card
Divvy overview
- The card is issued by Cross River Bank Member FDIC.
- Provides solutions for small & mid-size business
- Offers credit lines up to $15M
- Automated spend & expense management software for free
- Also offers virtual credit cards for team members
- No hidden fees or contracts
- Do have a full-featured mobile app for all users
Divvy is a complete solution for businesses from the line of credit to spending and expenses tracking, rewards, and more. A Divvy credit card is a financial instrument that provides a distinctive method of controlling company spending. Divvy smart credit card for business combines typical credit card features with sophisticated cost-tracking and management tools. Divvy cards are intended to improve organizational transparency and automate spending administration. Administrators can manage and distribute money online, and each cardholder has a set spending limit.
Businesses can categorize spending and set spending caps for certain divisions or employees. The administrative load is reduced by Divvy’s user-friendly interface, which facilitates effective expense reporting and reimbursement processes. Divvy credit cards provide businesses with a cutting-edge way to manage spending, regulate budgets, and improve financial management thanks to their focus on real-time monitoring and budget allocation.
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How does divvy business credit work
Through the use of real or virtual credit cards, Divvy business line of credit offers businesses a full spending management solution. This is how it usually goes:
Application and Setup: When a business applies for Divvy credit cards, they are given either real cards for use by employees or virtual cards for use online. Administrators can regulate cards’ spending limitations and account setup on the Divvy platform.
Receipt Capture: Through the Divvy app or website, cardholders can digitally record and upload receipts. This makes it unnecessary to manually track receipts and streamlines the cost reporting procedure.
Approval Workflows: With the help of Divvy, managers can examine and approve charges before their finalization. This improves control and accountability over finances.
Expense Reporting: Divvy offers thorough expense reports that detail both departmental and individual spending. For simplified bookkeeping, these reports can be exported and connected with accounting software.
Reimbursement: Employees who incur company costs can receive quick and simple compensation thanks to Divvy. Real-time tracking and digital receipt submission speed up this process.
Analytics and Insights: Businesses can identify areas where cost-saving measures can be applied thanks to the platform’s analytics and insights into expenditure trends.
Overall, the integration of credit card capabilities with sophisticated tracking, categorization, and budgeting tools in Divvy corporate credit streamlines the spending management procedure. This solution makes it easier for organizations to manage expenses, improve financial transparency, and streamline administrative processes associated with expenses.
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Divvy Business Credit Card rewards and benefits
divvy business credit card limit
The goals of the Divvy Business Credit Card were to increase organizational administrative effectiveness, budget control, and spending tracking. Among the potential advantages were:
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Rewards: Every dollar you spend through Divvy earns you rewards points per day. Spending money at restaurants, hotels, software subscriptions, and on other purchases earns points with the Divvy card. Weekly, bimonthly, and monthly rewards are offered by Divvy. Divvy’s rewards dashboard makes it simple to track and spend your points, and the company’s points never expire.
You can see how many reward points you will receive in each category based on time in the chart below.
| Rewards For | Monthly | Semi-montly | Weekly |
|---|---|---|---|
| Restaurants | 2x | 4x | 7x |
| Hotels | 2x | 3x | 5x |
| Recurring software subscriptions | 1.5x | 1.75x | 2x |
| On everything else | 1x | 1x | 1.5x |
Rewards on ad spending: With the Divvy card, there is no cap on the amount of cash back you receive while spending money on advertising such as Facebook, Google, and LinkedIn ads. But you must invest at least $3,000 in advertising each month to be eligible for this reward option.
Since my knowledge may be out of date, I advise consulting Divvy’s official website or getting in touch with their customer service to learn more about any rewards, bonuses, or modifications to their products.
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Divvy business credit card requirements
The business credit card criteria for Divvy may change, but they are generally made to accommodate organizations of various sizes and sectors. Remember that these specifications could vary over time, so for the most recent details, I suggest checking out Divvy’s official website or getting in touch with their customer care. However, the following typical characteristics might be taken into account for Divvy business credit card eligibility:
Please be aware that the specific requirements may differ based on the type of your business.
How to apply for a Divvy business credit card
Use these general procedures to apply for a Divvy business credit card. Keep in mind that the divvy business credit card application procedure and prerequisites may change.
Visit the Divvy Website: Visit the Divvy website to find out more about their business credit card options, attributes, advantages, and application procedure. Then click on the product menu and select the business credit option.
Create an Account: Here, you can proceed to get a demo. You need to fill out all the information shown in the form like name, email, phone, company, number of employees, and job title. Then click on the Get Started button. You can also skip the demo and create your account.
Provide Business Information: Fill out the application form with information about your company like-
Financial Information: You will be asked to share your company’s financial data, including sales, costs, and any unpaid obligations.
Personal Information: You could be required to submit personal data as an applicant, such as your name, phone number, and social security number.
Business Documentation: You will be required to produce specific business records, including tax returns, financial statements, and other pertinent information, depending on the criteria.
Credit Check: To evaluate your creditworthiness and the creditworthiness of your company, Divvy does a credit check.
Wait for Approval: You must wait while Divvy reviews your application after submitting it along with any necessary documentation. This procedure could take some time, and if more information is required, you might be called.
Receive Approval or Decision: Divvy will let you know whether your application has been accepted, or rejected, or if more information is needed after reviewing it.
Card Activation: If you are approved, you will receive your Divvy business credit card. To activate your card, open the Divvy app and follow the on-screen instructions.
Set Up and Customize: To set spending limits, manage cards, and change your expenditure management preferences, log into your Divvy account.
Remember that the application procedure may include extra requirements or steps and that processes depend on the type of business.
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Divvy corporate Card rates and fees
The Divvy credit card has no yearly charge. Apart from that, no specific APR is offered for purchases, balance transfers, and other transactions. However, we were unable to locate any that appropriately disclosed fees and APR. So, be aware that a high-cost fee or APR could apply.
To comprehend the precise rates and costs connected with their corporate cards, it’s crucial to thoroughly read the terms and conditions offered by Divvy, as well as any accompanying documentation.
Divvy Business Credit Card Security Features
Divvy Business Credit Cards provide a range of security safeguards to safeguard cardholders’ financial information and shield businesses from illegal activities. Here are some typical security features you might encounter with Divvy, while precise security methods may vary:
It’s crucial to remember that security measures may change over time to enhance card security.
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Divvy business credit card reviews
There are many third parties websites like Trustpilot, BBB, app store & play Store where you can check for legitimate, real experience reviews from real customers. Let’s check Divvy corporate credit card reviews on each platform.
Divvy business credit card reviews on Trustpilot: Divvy has 446 reviews on trustpilot, with an average rating of 3.1 stars. 40% of users only gave the divvy one rating, while 51% gave it five stars. And that raises further questions. 40% of customers have complained about the procedure of opening an account, customer support, and bill payment options.
Therefore, we do not endorse a company where around 40% of the members have grievances against them. However, before making any decisions, you must conduct your own research.
Divvy reviews on BBB: Divvy only has six reviews on BBB, each with an F rating of 1 star. In the past year, Better Business Bureau has received 15 complaints against them.
Divvy app review on the App Store: The Divvy Pay app has a 4.7-star rating and 9k reviews on the app store.
Divvy app review on the Play Store: The Divvy Pay app has 100k+ downloads and approx 1,500 votes with a 4.5-star rating.
You can use these reviews as a guide when deciding whether to apply for a Divvy credit card.
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Pros and cons of Divvy business card
Depending on the unique requirements and preferences of your company, the advantages and disadvantages of the Divvy business credit card can change. Consider the following advantages and disadvantages:
Pros
- Expense Management: Businesses can better control their spending by using Divvy’s sophisticated features for real-time expense tracking, categorization, and budget allocation.
- Transparency: By giving administrators knowledge of expenditure trends across departments and personnel, the platform improves transparency.
- Customizable Limits: With the help of Divvy, you can specify spending caps for each cardholder, curbing excessive spending and promoting frugal money management.
- Digital Receipts: Receipts can be digitally captured and submitted by cardholders, cutting down on paper waste and improving the effectiveness of expenditure reporting.
- No personal guarantee required
- Security Features: To guard against fraud and illegal transactions, Divvy provides a variety of security safeguards, including real-time warnings, EMV chip technology, and two-factor authentication.
- App for both Android and IOS devices
- Rewards and offers on ad spending
- No annual fee
Cons
- Not Suitable for Personal Use: If you’re searching for a personal credit card, Divvy might not be the best option because it is made for business use.
- Customization Complexity: Although Divvy’s customization capabilities are a strength, firms with complex structures may find it difficult to put them up.
- Poor reviews on Trustpilot & BBB
- No introductory offer
- Good to excellent credit required
- No welcome bonus
- You need to settle your account in full each month
Whether Divvy’s business card is a suitable fit for your company ultimately relies on your priorities, the size of your company, your need for spending management, and how much importance you give to features like real-time tracking and budget control in comparison to conventional credit card rewards.
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Divvy business credit card customer service
Customer service from Monday to Friday is provided by Divvy from 8:00 am – 5:00 pm MT to help businesses with their questions, problems, and support requirements relating to their business credit card. Here are a few typical methods for contacting Divvy’s customer service:
Phone Support: Businesses can contact Divvy’s customer care department directly by calling 385-352-0374 one of the phone numbers provided. This can be helpful for taking care of pressing issues or getting prompt assistance.
Email Support: Businesses may choose to email the Divvy customer service team at signup@divvypay.com with any inquiries or grievances. This approach is appropriate for inquiries with less urgency.
Help Center: There is a knowledge base or online help center for Divvy that offers tutorials, step-by-step instructions, and answers to frequently asked questions.
Social Media: You can connect with Divvy on social media to ask for help or to be informed about announcements and happenings.
In-App Support: Divvy has a mobile app, it has a section for support where you may obtain support materials or get in touch with customer service right from the app.
Have your account information, information regarding your inquiry, and any supporting paperwork on hand before contacting Divvy’s customer care. For the most precise and up-to-date customer care information, it’s also a good idea to check their official website or contact page.
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Some of the best alternate cards to the Divvy Credit Card for you
If you’re looking for alternatives to the Divvy Credit Card, there are a number of other business credit cards and expense-management programs that you may take into account. Remember that the market for financial goods is fluid, so it makes sense to review the most recent options and contrast them in light of the unique requirements of your company. Here are a few substitutes to take into account:
Expensify: Expensify is an expenditure management program that includes tools for tracking expenses, capturing receipts, managing workflows for approvals, and reporting. It connects to several accounting applications.
Brex: Brex offers business credit cards with integrated spending management tools. It is made for new businesses and offers incentives like credits for software subscriptions that are specifically suited to their requirements.
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Ramp: Ramp provides business cards combined with spending management tools like automated receipt matching, real-time tracking, and budget limits.
Chase Ink Business Preferred: This is a typical business credit card provided by Chase with rewards and advantages appropriate for commercial expenses.
American Express Business Cards: A variety of corporate credit cards from American Express are available, each with unique rewards programs, travel advantages, and expenditure management tools.
Capital One Spark Business Card: Capital One offers reward-based company credit cards, cost tracking, and staff spending control solutions.
Concur: Concur is a tool for managing expenses that provides automation, real-time reporting, and accounting system connectivity.
Examining elements including pricing structures, awards, expense monitoring capabilities, connection with accounting software, user evaluations, and customer service is crucial before choosing an option. Make sure the solution fits the size, sector, and particular needs of your company’s spending management. Keep in mind to check the websites of the individual providers for the most recent details on their offerings.
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Conclusion: is divvy business credit card legit
The Divvy Business Credit Card is a reliable and trustworthy financial tool for businesses, so the answer is yes. It provides cutting-edge expenditure management systems that facilitate spending, increase transparency, and strengthen financial control. The Divvy platform enables effective expenditure reporting, adjustable spending caps, and real-time expense tracking.
Divvy’s capabilities, which include virtual cards, receipt capturing, and budget allocation, are intended to give organizations effective financial management tools. To ascertain whether Divvy’s solution is in line with your particular business needs, it is crucial to carefully analyze the terms, charges, and features as with any financial product.
Is Divvy a credit card?
Divvy does really provide a company credit card that goes above and beyond standard credit cards. It integrates credit card functionality with expenditure management functions. The Divvy card helps organizations manage expenses more efficiently by enabling real-time expense tracking, spending caps, and budget allocation.
Does Divvy business credit card report to credit bureaus?
To credit bureaus, Divvy’s business credit card submits reports. While spending control is the main focus, certain actions, such as timely payments or missed payments, may have an impact on your company’s credit history. For accurate information regarding credit bureau reporting, it’s vital to confirm the precise reporting methods with Divvy or review their terms and conditions.