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Stripe Corporate Card

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Re: Stripe Corporate Card

#141

Post by nimish »

brogrammernot wrote: post #58
ttcbj wrote: post #21

Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money. Honestly, I wouldn't believe that deal, except that I have a multi-year history with stripe as our CC processor and it has been nothing but positive and as-promised. So, I submitted an application. It sounds like a great deal to me.

There’s literally no risk for them. It’s yet another vertical business that isn’t addicted to the fees and they know you’re going to continue to use them for payment processing so the CAC for a corporate customer at ~$1500 or so is dirt cheap for the LTV that they(you) provide.

The entire cc industry is addicted to the processing fees and everyone else pays for it with higher prices.

Re: Stripe Corporate Card

#142

Post by tempsy »

myalphabet wrote: post #133
tempsy wrote: post #127

Earlier quoted context omitted.

American Express has both "Business" and "Corporate Business Cards." The "Business" ones require a personal guarantee. For some color, I've signed up for multiple Amex Business cards in the past as a "sole proprietor" even though I was really just churning the cards for the rewards. You just input your SSN for the EIN. The Corporate Amex cards don't require a personal guarantee.

The AmEx card I used was 100% a Corporate card (not a Business card) and definitely did require a personal guarantee. edit: After some searching, it appears AmEx offers corporate cards both with and without personal guarantees, and it's up to the company to decide which they want to do. In my case, at one of the largest consulting companies in the world, they required personal guarantees.

Who is the guarantor? The employee? That seems like a very shady thing to do given every expense put on that card is for work.

Re: Stripe Corporate Card

#143

Post by grey-area »

bdcravens wrote: post #103
Nextgrid wrote: post #90

Earlier quoted context omitted.

When a Monzo card is processed by Stripe they can cut-out the middleman (MasterCard) and directly settle the payment between themselves.

I assume that represents a very tiny % of their transactions.

Of course it does today. If you fast forward a few years and include this new stripe card it may not and as they own both ends of the transaction they could start to offer better features on transactions that don’t leave their network, incentivising both sides to use it.

Re: Stripe Corporate Card

#144

Post by bogdanu »

jchook wrote: post #128
bogdanu wrote: post #116

Earlier quoted context omitted.

Do you know what's annoying to me? Seeing how awesome products you have but can't use them because I live in Romania. Come on... :D I know there's Atlas, but for a bootstrapper I can't afford it (especially when I don't know anything about legal stuff).

I wonder if e-residency in Estonia would help you

It might, but it might cause some headaches with our local fiscal agency.

Also, their (estonian) corporate taxes are higher than ours.

Re: Stripe Corporate Card

#145

Post by lastofus »

cullenking wrote: post #53
ttcbj wrote: post #21

Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money. Honestly, I wouldn't believe that deal, except that I have a multi-year history with stripe as our CC processor and it has been nothing but positive and as-promised. So, I submitted an application. It sounds like a great deal to me.

I push all our spending through a 2% cash back capitalone business visa. Can't find a better cashback rate, though you could run multiple cards through different vendors with their own credit cards, but you get diminishing returns. If you are a big amazon spender (products, not AWS), it makes sense to do an amazon visa, and then the capital one for everything else. It's really easy to believe the deal when you look a…

A warning for using the Amazon visa: their record retention is horrible. I had to call in and talk to someone for them to send me a paper statement for charges from the previous year when doing taxes. Their export for current records is also terrible last I checked. It's basically terrible for any sort of accounting.

As a small business owner, it wasted hours of my life for no good reason.

Re: Stripe Corporate Card

#146

Post by myalphabet »

tempsy wrote: post #142
myalphabet wrote: post #133

Earlier quoted context omitted.

The AmEx card I used was 100% a Corporate card (not a Business card) and definitely did require a personal guarantee. edit: After some searching, it appears AmEx offers corporate cards both with and without personal guarantees, and it's up to the company to decide which they want to do. In my case, at one of the largest consulting companies in the world, they required personal guarantees.

Who is the guarantor? The employee? That seems like a very shady thing to do given every expense put on that card is for work.

Yes, the employee. Why do you think it's shady? In my years of working in and around people with the same setup I've never heard of any complaints, and I know most of the other large consulting companies do it the same way.

AFAIK the thought behind it is that not every expense on the card is for work - as a consultant, I travel every week and I put all kinds of expenses on the card (not all of which are strictly "for work" or allowed to be reimbursed by the company). This way, my company still pays the bill for whatever expenses I mark as reimbursable, but the company doesn't have to worry about being on the hook for when I use my card to buy a pair of pants.

To me, it's basically the same as having a personal CC and my company reimburses me for the expenses - except in this case, it's a lot easier for my company to pay part of the bill directly (instead of me being an intermediary) and I also don't have to worry about hitting a credit limit.

Re: Stripe Corporate Card

#147

Post by tempsy »

willyg123 wrote: post #132
ttcbj wrote: post #21

Well, 2% on some things + 1% on everything else is better than I am getting with Amex now. Plus, $50k in free processing is like $1,450 in free money. Honestly, I wouldn't believe that deal, except that I have a multi-year history with stripe as our CC processor and it has been nothing but positive and as-promised. So, I submitted an application. It sounds like a great deal to me.

If you fly, ever, business gold AmEx cannot be beaten. 4x points on the first $150k spent on two categories of your choice. Then, 25% off(!) flights booked with points at AmExTravel.com. I will definitely be getting the Stripe card because the intro offers are so good. But, the airfare discounts alone at AmEx Travel are so good it will continue to be my go-to corporate card.

The major difference between Brex/Stripe card and typical business cards on the market whether or not there's a personal guarantee.

Re: Stripe Corporate Card

#148

Post by nsedlet »

I wonder why companies prefer to use a corporate credit card over debit cards (which are very easy to get)? Do they just like having the line of credit? Is it really worth the extra complication/hassle/thing to worry about just to push off payments by ~15 days (Stripe seems to require that the balance be paid off each month)? I also wonder how that is enforced (by reducing credit limits as a company's bank balance starts to decrease, or by charging interest, or by just eating the defaults)?

Or is it about managing/reporting expenses better across groups an organization? Or do companies just like the rewards?

I understand that interchange fees are higher for credit cards - so are corporate credit cards basically a way to extract additional fees from merchants and distribute them in the form of rewards/cash back to the cardholders?

Re: Stripe Corporate Card

#149

Post by forgot-my-pw »

philip1209 wrote: post #42

Our company Moonlight was an early beta tester of the Stripe Corporate Card. Each person on our distributed team of five has a card, and it's made things like arranging travel or covering minor SaaS charges simple. Happy to answer any questions about the end user experience!

How does the card validation work? Do most payment processors accept it?

Re: Stripe Corporate Card

#150

Post by forgot-my-pw »

forgot-my-pw wrote: post #149
philip1209 wrote: post #42

Our company Moonlight was an early beta tester of the Stripe Corporate Card. Each person on our distributed team of five has a card, and it's made things like arranging travel or covering minor SaaS charges simple. Happy to answer any questions about the end user experience!

How does the card validation work? Do most payment processors accept it?

Ah, it seems to be based on Visa.
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