Did you know that we have an enhanced credit card for businesses to use for their purchasing needs? That’s right, we do! For several years we have offered business our Corporate Card, but in 2008, we rolled out the Arvest Purchasing Card, with great success.
Today, more than ever, businesses are trying to manage their cash position, control expenses and look for ways to become more efficient. Our Corporate or Purchasing Card can help in each of these areas.
But how?
Checks cost money to write, process and to reconcile. In addition, when you write a check the funds are practically debited from your account overnight! But when you begin purchasing goods and services with our Corporate or Purchasing Card, your cash stays in your checking account until you pay your credit card statement. Depending on when you make your purchase, you may have over 50 days that your money is in your checking account earning interest and you have the item you need – interest free!
Thinking outside the box!
Instead of having a gas card for fuel, a credit card to an office supply company and one at the local building supply store, use our Corporate Card or our Purchasing Card and you only have one account to reconcile!
Instead of writing checks for your utility bills, dues, subscriptions, big-ticket items or really anything, use your Arvest Corporate or Purchasing Card. Especially, if you sign up for Arvest Rewards*.
Great, but what is the difference between the Corporate Card and the Purchasing Card?
One key factor is the number of cards issued. It is a Visa (and a federal) requirement that in order to have a Purchasing Card 10 or more cards must issued. However, the advanced online capabilities and enhanced reporting that is available on Purchasing Card transactions, is what makes it the card for all type of businesses, schools and municipalities.
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Features
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Arvest Visa Corporate Card
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Arvest Purchasing Card
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Grace period
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25 days
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25 days
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Interest rate
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Prime rate + 6.99% (no minimum APR)
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Prime rate + 6.99% (no minimum APR)
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Billings
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Individual or Consolidated available
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Individual or Consolidated available
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Annual Fee
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No
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No
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Arvest Rewards
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Yes
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Yes
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Online Real-time Access
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Yes
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Yes
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Purchasing Restrictions
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Yes
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Yes
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Track fuel by Driver # or Vehicle #
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No
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Yes
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Additional information on transactions
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No
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Yes, and in some cases the merchant will pass on to you what was actually purchased!
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Integration of Data in to Financial Software
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No
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Yes
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Online Expense Report routing
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No
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Yes
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Our philosophy is simple, “It must be good for the customer, before it is good for the Bank…” and with the Arvest Corporate Card or the Purchasing Card, you will be able to cut costs, eliminate paperwork, expedite delivery and improve cash flow – instantly!
*For every $1 spent, you will earn 1 point! Points can be redeemed for as little as 10,000 points for Gift Cards or Travel Reimbursement. Ask an Arvest Associate for more information!