Yes. The only thing that separates most business credit cards from personal credit cards is the fact that the word “business” appears on the front of the cards. Unless you do not have the proper identification, no merchant can refuse to accept your business credit card if they accept that type of card.
In other words, all stores that have a business relationship with the credit card company that issued your card are required to accept and process all business credit cards. Along with the name of your company, your full legal name will appear on your business credit card.
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Merchants that refuse to accept credit cards from customers that have a valid I.D. are actually in violation of their merchant agreements. In actuality, no identifying information is required by any credit card issuer in order to honor a sale. According to MSN, credit cards, including those supplied by business owners, must be processed in accordance to the agreement drawn up between the merchant and the credit card processing company.
When can a business credit card be denied?
The Consumerist reports that Visa credit cardholders can use their credit cards without having to present any form of identification. Several major retailers have policies that go directly against the rules set forth by Visa. Other credit card issuers may have different requirements; however, state laws concerning merchants and privacy supersede even the rules set forth by credit card processors.
Any credit card can be denied if a signature written in ink is not present or so faded that it cannot be easily seen. Credit cards may also be refused if they cannot be processed, have been reported stolen or have obviously been defaced in some manner. Credit card companies do not put any restrictions on the types of goods or services that business credit cards can be used to purchase, however, authorized users may have pre-set spending limits imposed by the account holder.
A credit card can also be refused at a store if there is no merchant agreement in place. Although most establishments accept credit cards, some only take cash or checks. In addition, select credit card companies like American Express and Diners Club are not as popular as Visa or MasterCard.
What’s the difference between business credit cards and personal credit cards?
Personal credit cards are issued to individual consumers while business credit cards are utilized by business owners, employees, and other authorized users. To apply for a personal credit card, you may or may not need to provide proof of your finances. Approval for secured personal credit cards requires little more than a cash security deposit and an application.
By contrast, business credit cards are harder to come by for newer business owners. A young consumer or a person who is working to repair his or her credit can almost certainly get a personal credit card. This is not always the case for business owners who want to be approved for a line of credit.
Other than the application process, personal credit card and credit cards for business owners are nearly identical. Business credit cards tend to have higher credit limits than personal credit cards, but this also varies.
What happens if your business credit card is refused?
If you have a credit card that is in good standing, has a clearly visible signature on the back and you supplied all of the information requested by the merchant but were still denied service, you should contact your credit card company at once. Even well meaning merchants and store employees can sometimes mistakenly refuse service to customers based on preventing credit card fraud. Any merchant that receives too many complaints via its credit card processor can have its credit card processing privileges revoked.
The U.S. Government online web portal also gives consumers instructions on how to make a complaint to the newly formed Consumer Financial Protection Bureau. Although the full extent of the power of this agency is still unknown, making your dissatisfaction known with the CFPB may help you to receive personalized customer service from your credit card company.
Having your business credit card refused for no good reason may be both embarrassing and inconvenient. You may want to let the merchant know that you are aware of your rights as a consumer and see if he or she will put the transaction through.
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