Organizations dedicated to charitable causes with the financial wherewithal to make full monthly payments may be eligible for the Charity Charge Nonprofit Business Card.
The program gives a 20% reduction on office supply, transportation, and cellular expenditures with no personal guarantee or yearly fee. A nonprofit organization must have existed for at least five years with $100,000 in yearly income or for two years with $500,000 in annual revenue to qualify.
Select up to three cards on this page to compare, and then click the "Add to compare" button to see the information of each card laid out next to one another.
An Exclusive Card For Charities
In the past, charitable organizations looking to make purchases with plastic had two main options: a conventional corporate credit card or a debit card. Both choices necessitate that an individual is held financially responsible in the form of a guarantor.
A nonprofit organization's business model differs from a for-profit one in that it is optional to satisfy the interests of its stakeholders or produce a profit for the benefit of its owner.
Light of the fact that many charities are unwilling to have a single member assume personal accountability for the organization's credit card obligations, this is a significant barrier to establishing a credit card program.
Charity Charge launched its nonprofit credit card with Commerce Bank and Mastercard. The card is issued free of charge each year, and the organization receiving it will receive 1% cash back on any purchases made with the card.
Charity Charge has partnered with Purchasing Point, a discount program created specifically for charity, to provide eligible organizations a chance to save money on operational costs.
Who Should Get A Nonprofit Business Card from Charity Charge
Five-Year-Old Nonprofits:
Charity Charge is a business credit card specifically for nonprofits that have been operational for five years or more and have yearly revenues of $100,000 or more.
In addition, businesses that have been around for at least two years and bring in at least $500,000 a year in sales may qualify.
Monthly-Paying Nonprofits
This is a charge card. Thus each month's debt must be paid in full. Pay will only be assessed if this is done.
No-Guarantee Nonprofits
The card can be insured in the company's name without requiring a personal guarantee. Without any assurance of personal safety, it is one of our finest business cards.
Additional Benefits and Security for Nonprofit Charge Cards
• Extended Warranty:
Mastercard will increase the current manufacturer warranty by 100%, up to $10,000 per incident and $50,000 per cardholder per year.
• Purchase Guarantee
If your brand-new item is stolen or destroyed within 90 days of purchase, we'll replace it at no cost. There is a yearly maximum of $50,000 per cardholder and a per-incident restriction of $10,000.
• ID Theft Protection And Zero Liability
You won't be held liable for any illicit purchases if your credit card is lost or stolen. The zero liability guarantee covers all in-store, over-the-phone, internet, mobile, and ATM purchases.
Manage Money and Organizational Resources
• Discounts from vendors:
Thanks to Charity Charge's connection with CHAMPS, you'll have exclusive savings at over 200 national retailers. You may get up to 20% off with no membership fees and no minimum purchase requirements on things like office supplies, transportation, wifi, and more.
No Personal Guarantee Is Needed
Without a personal guarantee, underwriting for the Charity Charge Nonprofit Business Card can be made directly to the charity. This indicates that it is optional to examine the applicant's credit. Furthermore, you will not be personally responsible for any of the company's debts. However, depending on the situation's specifics, a personal guarantee may be needed.
Simple Rebate Savings
When you use this card at select retailers for things like airfare, petrol, and business services, you'll automatically be refunded a percentage of your purchase price. Both redemption codes and their use are unnecessary. You won't have to do anything to receive your rebate; it will be added immediately.
QuickBooks Compatibility
To save time and avoid mistakes caused by manual entry, you may have your account's transactions synchronized straight to QuickBooks Online.
Conclusion
Charity Charge has created a business card for the charity sector called the Charity Charge Nonprofit Business Card. There is no yearly cost to use your Mastercard. However, you can still take advantage of its many perks, including managing your account online, receiving personalized assistance, saving money at your favorite stores, and more.
Since this is a charge card, it's important to remember that the balance must be paid monthly. Other requirements include having been in business for at least two years and having an annual income of at least $100,000.
