21 replies to this topic

[TrucknAlng]

This has been covered a few times but wanted to know more about any recent activity. For those of you with this card, did you get the unsecured "global business" (qualifications?) or the "global secured" ? I am assuming the Fleet card isnt really an all around mastercard but just for fuel/ tires and such?
It has been said that I think the cards are net7 or net 15? which one? Also, are you able to pay online now with no fees? When putting money on the secured card is there a fee? Do they report and if so, to who?

Any other things against these cards?

[greywolf]

This has been covered a few times but wanted to know more about any recent activity. For those of you with this card, did you get the unsecured "global business" (qualifications?) or the "global secured" ? I am assuming the Fleet card isnt really an all around mastercard but just for fuel/ tires and such?
It has been said that I think the cards are net7 or net 15? which one? Also, are you able to pay online now with no fees? When putting money on the secured card is there a fee? Do they report and if so, to who?

Any other things against these cards?

They are net 7 from the date of invoice, and they invoice weekly. You cannot pay online, yet. They are in the process of implementing an ACH payment system, not sure when it will be online. There is a one time fee of $75 when you set up the account, but my rep was able to get it waived for me.

I have the Mastercard 'multi' card, which works anywhere Mastercard is accepted. I can limit the authorized users on the account to what store types they can use the card at, how much they can spend, and when they can make purchases.

I was approved for a $1.5k line, when my D&B and EX file looked like the following:
D&B - 20 TLs, $5k high TL, most trades in the $100-1000 range.
EX - 12 TLs, $2900 high TL, most trades in the $1000 range.
They did not pull EQ.

My sales rep told me most approvals are for $1k-2k, he is not seeing many initial approvals higher than $5k. He did say they will take CLI requests after a few months, and if you use the card heavily, they will increase your limit accordingly. My understanding is, they like the 'build' limits, rather than approve them at the time of application. Something that hasn't been mentioned, this is technically a rewards card, I get .5% cash back on all purchases, up to .75% cash back if I spend $50k a month. (not a huge incentive, but it is free money)

I haven't seen them report, but I have only had the card for 3-4 weeks.

There isn't much financial benefit to this card, but I do see where is makes the administrative side of running my business easier. The reports are more detailed than Amex corporate, and they offer cash access to your credit line (big whoop a 7 day cash advance )

[TrucknAlng]

The rep I talked to today said they had ACH, wire and check. Are there any fees with the wire or ach or check? Where are you sending your payment too? What state?

I just am nervous about the time frame for snail mail and then the "processing" of the check. In this day and age to not accept payments online is ridiculous. Which makes me believe that they have some fees hidden somewhere?

[greywolf]

The rep I talked to today said they had ACH, wire and check. Are there any fees with the wire or ach or check? Where are you sending your payment too? What state?

I just am nervous about the time frame for snail mail and then the "processing" of the check. In this day and age to not accept payments online is ridiculous. Which makes me believe that they have some fees hidden somewhere?

Their payment address is in PA, and they take 2 days to post the payment to you account. I am in CT, and I mail my payment out on Tuesday, they post the payment Friday.

If you have ACH push capability through your bank, you can ACH the payment to their lock box service. You can also wire it, but it would be really expense ($29 a wire, every week). They are pretty decent about the payments, they will not charge you a late fee if the postage stamp is dated prior to your due date. Check with a sales rep, they might have lock box service at a bank in your area.

I haven't seen any surprise fees yet, so I am pretty happy. The card is issued by Regions/RBS, but Comdata services it. Both companies seem to have awesome service.

[ansky0007]

The rep I talked to today said they had ACH, wire and check. Are there any fees with the wire or ach or check? Where are you sending your payment too? What state?

I just am nervous about the time frame for snail mail and then the "processing" of the check. In this day and age to not accept payments online is ridiculous. Which makes me believe that they have some fees hidden somewhere?

Their payment address is in PA, and they take 2 days to post the payment to you account. I am in CT, and I mail my payment out on Tuesday, they post the payment Friday.

If you have ACH push capability through your bank, you can ACH the payment to their lock box service. You can also wire it, but it would be really expense ($29 a wire, every week). They are pretty decent about the payments, they will not charge you a late fee if the postage stamp is dated prior to your due date. Check with a sales rep, they might have lock box service at a bank in your area.

I haven't seen any surprise fees yet, so I am pretty happy. The card is issued by Regions/RBS, but Comdata services it. Both companies seem to have awesome service.

I was supposidly approved for the Wright Express Mastercard which is a Net 30 Purchase card. Can let you know how it is if and when I get it. What attracted me to Wright Express is their rewards program is similiar to Amex with 1% back in rewards. I plan to push quite a bit of purchasing through it if it comes. I have many vendors that are Net 10 & Net 15 using the card it would give me more time to pay and I will get 1% back through their rewards.

Edited by ansky0007, 08 April 2010 - 07:02 PM.

[TrucknAlng]

She also stated that they report to Experian and Equifax and Not DNB. But then again she was supposed to email me card and agreement info and she hasnt done it. Wanted to know my business and business background. I told her really none of your biz. Seemed more like I was dealing with AFT hahaha.

[greywolf]

I was supposidly approved for the Wright Express Mastercard which is a Net 30 Purchase card. Can let you know how it is if and when I get it. What attracted me to Wright Express is their rewards program is similiar to Amex with 1% back in rewards. I plan to push quite a bit of purchasing through it if it comes. I have many vendors that are Net 10 & Net 15 using the card it would give me more time to pay and I will get 1% back through their rewards.

I was looking at that back when you posted about it. I don't think my file is strong enough yet, so I have been holding off. I am waiting for some decent TLs to report, haven't had many yet Do you know who they pull/what they are looking for?

[greywolf]

She also stated that they report to Experian and Equifax and Not DNB. But then again she was supposed to email me card and agreement info and she hasnt done it. Wanted to know my business and business background. I told her really none of your biz. Seemed more like I was dealing with AFT hahaha.

My sales rep did ask a lot of questions about my business, I figured he was either being friendly or trying to skim information in case I default.

[ansky0007]

I was supposidly approved for the Wright Express Mastercard which is a Net 30 Purchase card. Can let you know how it is if and when I get it. What attracted me to Wright Express is their rewards program is similiar to Amex with 1% back in rewards. I plan to push quite a bit of purchasing through it if it comes. I have many vendors that are Net 10 & Net 15 using the card it would give me more time to pay and I will get 1% back through their rewards.

I was looking at that back when you posted about it. I don't think my file is strong enough yet, so I have been holding off. I am waiting for some decent TLs to report, haven't had many yet Do you know who they pull/what they are looking for?

I was declined last year when I had a incorrect chargeback on my Equifax. Since then Equifax investigated it and removed it so I re-applied.

They pulled all 3 on me... Equifax, Experian and D&B, I was looking for a large line and I was approved for $15k, If I wanted more I would have had to supply 2 years of audited financial statements and that would have easily cost me $1000+ through my accountant so I was happy with what they approved me for. They ended up matching my D&B highest limits (I have a few $15k trades on D&

Experian Score (96) w/13 Trades
D&B (Paydex 80) w/20 Trades

Edited by ansky0007, 08 April 2010 - 07:49 PM.

[clintbeastwood]

She also stated that they report to Experian and Equifax and Not DNB. But then again she was supposed to email me card and agreement info and she hasnt done it. Wanted to know my business and business background. I told her really none of your biz. Seemed more like I was dealing with AFT hahaha.

My sales rep did ask a lot of questions about my business, I figured he was either being friendly or trying to skim information in case I default.

default on a <2K card? Doesnt seem like a huge risk for them to be skimming for information..

[clintbeastwood]

She also stated that they report to Experian and Equifax and Not DNB. But then again she was supposed to email me card and agreement info and she hasnt done it. Wanted to know my business and business background. I told her really none of your biz. Seemed more like I was dealing with AFT hahaha.

what do your files look like? If you don't mind sharing...

[MainSt.]

anyone have the link for the wright express card? I have a link, just want to make sure its the right one.

[TrucknAlng]

I havent applied for anything yet. I try to be careful with applying for anything because me personally if they dont report, then they really are no help to me to use them. I would be making them money and getting nothing in return.

My DNB is a paydex of 80 and 5 TL reporting but with a high of 200 even though I have purchased much more then that. I personally feel DNB is behind several months on the reporting limits. I am not on EQ and EX I have 1 TL reporting and a 79 rating on there.

I would most likely just do the secured card for like 5k. Basically use it and see if it becomes a hassle. I had heard that they possibly unsecure which would be great. But if there is no real benefit to me then I wouldnt do it.


I am reall leary of companies advertising that this card and product will help streamline your business with online this and online that, but when it comes time to pay the bill they dont accept online payments WTF!! Just like Greywolf said, $29 fee for wire transfer..that is BS. People just need to be upfront about how things are and let people decide based on that.

[ansky0007]

anyone have the link for the wright express card? I have a link, just want to make sure its the right one.

There is no online link.. You need to get an application from a regional sales rep. You need to contact them and if your business is large enough they will forward your information to the regional rep and they will contact you. http://www.wrightexp...mc-contact.html

I think you need around $1M in sales revenue based on what I got from my rep that I was working with.

Edited by ansky0007, 09 April 2010 - 10:47 AM.

[TrucknAlng]

Ok, I spoke with another person at CSI since I hadnt received the email yet. He was alot more informative but was also doing some sort of a salepitch that if I funded a card today, he would be able to give me .5% rewards on nonfuel purchases. I am going to look at that email that he sent me and will get back on this.

He did state that after 12 months good history the card would become unsecured, when asked about raising and lowering limits throughout the life of the secured card and asking how I would get my money back, he never really responded which has me concerned a bit.

[expectator]

What is the point of getting a secured card with 7 days terms? I do not understand . If it is only to build credit, a gas card will do the same or even a bank PG business card with better terms.
Am I missing a point here?

[greywolf]

What is the point of getting a secured card with 7 days terms? I do not understand . If it is only to build credit, a gas card will do the same or even a bank PG business card with better terms.
Am I missing a point here?

Sorta. It does allow you to build credit, but if you purchase a lot of goods, it makes A/p a lot easier. Normal credit cards just give you a statement of purchases by vendor, comdata, amex, key, and a few other business cards actually pull information from the merchants as to what was purchased. So, if I buy gas for my truck, cabling for a client, and lunch for myself, I can see it in detail on my weekly statement.

I can use my Comdata billing statement as transactional evidence in case of an audit. Some merchants don't allow comdata (or anyone) to pull their auth data, so certain merchants are billed normally, but most places do.

This card really isn't designed as a financing tool, but an accounting tool. You aren't getting float time, and the rewards are ok. Far from great, but better than nothing. I have a $1500 limit, and I max it out every week. I essentially use it for all the little things. 20 purchases a week x 52 weeks a year = 1000 receipts I have to keep track of. If 3/4 of the merchants I use this card at give billing detail, I just saved myself the hassle of tracking 750 receipts a year x 7 years = 5000 receipts. All I have to do is download the data into quickbooks weekly, and enter the billed amount into my bank's ACH.

[expectator]

You got a good point!
The receipts are driving me nuts!

[greywolf]

You got a good point!
The receipts are driving me nuts!

It is the little things that drive me nuts. Gas, lunch, recurring service, tolls, etc. If I use my comdata card, chances are half of the purchases are going to pre-populate so it cuts my accounting time in half. Other card issuers offer the same service, but how many can be obtained without providing a PG and are available to the average small business owner?

[expectator]

Exactly.
I will include that one on my list to get. Will wait until my new accounts show in my CR
Thanks a lot man, you seem to have the right answer every time.

[theycallmebe]

Did anyone post the requirements to get one of these cards? If so I must have overlooked it...

[theycallmebe]

Did anyone post the requirements to get one of these cards? If so I must have overlooked it...