National Bank of Canada and MasterCard offer small business card
The National Bank of Canada has released the Premia Business MasterCard for small business owners or the self employed as a money management tool. The card is promoted by the bank as, “the easy way to separate your personal and business spending."
The Premia Business MasterCard is connected to one account in the company name and each cardholder's name with up to ten cardholders per account. The account manager can then set a monthly spending allowance for each cardholder. At the end of each billing cycle, purchases are consolidated onto one statement for convenience, but still track each cardholder's spending.
The Premia Business MasterCard offers partnerships with a variety of retailers and businesses to offer discounts for small businesses. The partnerships include companies offering security, accounting, advertising, travel and many other small business needs.
Companies can choose to add a reward program to the account for an annual fee. The card offers two different levels of rates, rewards and limits depending on the type of account. Interest rates range from 13.9 percent to 18.9 percent - and fees for additional cards at $25 or $50 per card - depending on whether the account has a reward plan.
