Medium to large businesses will benefit from more flexibility and control
MINNEAPOLIS–(BUSINESS WIRE)–Oct. 28, 2013– U.S. Bank has introduced the U.S. Bank Visa Signature® Company Credit Card designed for companies with $1 million to $10 million in annual revenues. Unlike other business cards, no personal guarantor is required since the company is solely liable for all purchases.
“We are excited to offer this to our established small business clients,” said Cathi Stanton, senior vice president for U.S. Bank Retail Payment Solutions. “We conducted a pilot earlier this year and received positive feedback from businesses. This card is a great addition to our suite of small business products. The Company Card is unique in that the card is underwritten on the company’s credit history and financial strength, rather than the authorized officer’s personal credit.”
The Company Card requires that the company be a Corporation, Limited Liability Corporation or Limited Liability Partnership and net income of the company must be $350,000 for two consecutive years.
Benefits of the Company Card include:
- Credit line ranging from $25,000 to $250,000;
- Central billing and dedicated business account representatives for account maintenance, issues and questions;
- EMV (“chip-card”) technology for better international acceptance;
- Complimentary Concierge Service;
- Visa Signature Luxury Hotel Collection and
- The ability to earn 1% cash rewards on all net purchases.
The U.S. Bank Visa Signature Company Card is now available in U.S. Bank branches.
About U.S. Bank
U.S. Bancorp (NYSE:USB), with $361 billion in assets as of September 30, 2013, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,088 banking offices in 25 states and 4,937 ATMs. The bank provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
Source: U.S. Bancorp
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report or Form 10-K for the most recently ended fiscal year.