U.S. Bank recently introduced its Visa Signature company credit card for firms with between $1 million and $10 million in annual revenues, requiring no personal guarantor.
“We are excited to offer this to our established small business clients,” Cathi Stanton, the senior vice president for U.S. Bank retail payment solutions, said. “We conducted a pilot earlier this year and received positive feedback from businesses. This card is a great addition to our suite of small business products. The Company Card is unique in that the card is underwritten on the company’s credit history and financial strength, rather than the authorized officer’s personal credit.”
In order to qualify for the card, the company must be a corporation, limited liability corporation or limited liability partnership with a net income of $350,000 for two consecutive years.
The card offers a credit line of between $25,000 and $250,000, central billing and dedicated business account representatives, EMV technology, complimentary concierge service, the Visa Signature Luxury Hotel Collection and the ability to earn one percent cash rewards on all net purchases.
U.S. Bancorp has $361 billion in assets and is the parent company of U.S. Bank, the fifth-largest commercial bank in the U.S. The company has more than 3,000 banking offices in the U.S. and nearly 5,000 ATMs.