Free membership in a shopping club is a winning feature for business credit cards for small businesses, according to a recent survey by Phoenix Synergistics entitled, Expanding Small Business Card Programs. Nearly seven in ten small businesses report using business or corporate credit cards and more than half of both current business card users and nonusers indicate interest in a new or an additional business credit card. One of the top business credit card features wanted by these prospects is a free membership in a shopping club such as Costco, Sam’s Club, or Amazon Prime. Only zero liability for fraudulent transactions received higher response. In general, the top 10 features small businesses want include a variety of fraud protection, shopping, travel, and customer service features.
These are among the findings from Phoenix Synergistics study, Expanding Small Business Card Programs, featuring 600 online interviews with owners/executives of small businesses with annual sales of $50K to $5M. This study examines small business usage of business credit and debit cards, as well as reaction to reward programs, value-added card services, and account management options.