General Inquiries

Credit Card platform recomendations

  • 1.  Credit Card platform recomendations

    Posted 28 days ago
    We've used our regional bank for our credit card platform for the past 15+ years.  We've got around 100 corporate cards across 2 different operating companies.   Our bank just switched to an online platform called 360Control which is a disaster of a platform and it is obvious we need to switch to a new card program independent of our bank.  Does anyone have a recommendation on corporate credit card platform that has worked well for them?  I'm not looking to switch banks, just our card program.  Thanks!

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    Colin Thompson
    CFO
    Power City Electric
    Spokane WA
    (509) 789-1772
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  • 2.  RE: Credit Card platform recomendations

    Posted 27 days ago
    Our company had used the same credit card program with Bank of America for 20+ years before I started. I decided to stay with BoA, but switched to a better rewards program in order for easy data transfer. If I had to do it again, I would probably give Chase a try. They have basically an identical program for small businesses. Our sales rep for BoA was very responsive, but every time we had to rely on customer service, there were issues. I am not talking 1 or 2 issues, but at least 5 times we had calls to make certain changes that BoA customer service confirmed were done and later they said they had no record of our discussions. I will say, now that we everything worked out, I am happy with the rewards that we are now receiving from BoA.

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    Daniel Patete CPA
    Controller
    West Roofing Systems Inc
    LaGrange OH
    (440) 355-2519
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  • 3.  RE: Credit Card platform recomendations

    Posted 27 days ago
    I have been processing about 100 cards monthly using Comdata/Expense Track.  It has the ability to code GL and job costing along with multiple entities if needed.  It is a user friendly app on all our phones.  It is compatible with our software for uploading all the cost coding done through the system.  We are using Vista but they are compatible with many. I would suggest you do a demo with them so you can see the how ou can customize to your company needs.

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    Jill Maly
    Accounts Payable
    MFRG-ICON Construction
    Scottsdale AZ
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  • 4.  RE: Credit Card platform recomendations

    Posted 27 days ago
    Colin,

    As Jill mentioned, you might want consider Comdata. Consider the value of level 3 data and which providers can offer it (Comdata is one). Level 3 data let's you see the itemized detail on the credit card statement for vendors that can offer it, such as Home Depot and many gas stations. Comdata auto drafts your checking account and getting refunds for fraud can be more painful than a typical bank, but the level 3 data, integration, and controls may be valuable to you.

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    Kevin Halme CCIFP
    Constructive Tech Solutions
    Omaha, NE
    www.consttech.solutions
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  • 5.  RE: Credit Card platform recomendations

    Posted 27 days ago

    We evaluated several platforms 5 years ago and switched from Wells Fargo to Chase.  3 months ago we trialed a regional bank's platform, thinking we could get even better "localized" service.  Long story short, we stayed with Chase.  Their online system is intuitive to work with and we can easily track daily usage.  We match user receipts to online transactions to get expenses into job costs timely.  If someone needs their credit limit increased for a large purchase (e.g. permits), we can instantly adjust it ourselves online.  Their fraud detection algorithms work very well...we receive an email when fraud's detected (happens about 5 times a year), which we can accept or decline.  If we need to replace or change out someone's card, it's easily done within a week.  Reversing fraudulent charges is easy and timely.  Given their system's capabilities, for internal control we've divided credit card reconciliation/administrative responsibilities between 2 employees.

     

    We charge $20-30K per month to credit cards.   I generally dislike doing business with big banks, however, I think Chase has a very good system and responsive people running it. 

     

    Thank You,

     

    Greg Belanger

    West Fork Construction, Inc.

    6050 Warehouse Way

    Sacramento, CA  95826

    916.452.8197  x11

    gbelanger@wfcsac.com

    WFC LOGO digital

     






  • 6.  RE: Credit Card platform recomendations

    Posted 26 days ago
    We evaluated a number of solutions, and went with the largest cash back - Capital One.
    There were programs that supposedly worked better with our software - but we can take cash back to the bank.
    We'll figure out the efficient programming.
    We are using their plastic, and virtual card solutions.

    We use Sage 300 CRE, and are working through the electronic file transfers from Sage payments to the Capital One platform.
    Capital One was great with calling vendors, getting more to take the virtual card payment.

    We want to eliminate checks.  Eliminate paper.

    Capital One has the two party authentication to make fraud harder as well.  Fraud is and was a huge consideration.


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    Joseph Harper CPA, CCIFP
    CFO
    Greater Dayton Construction Group
    Beavercreek OH
    (740) 607-1449
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  • 7.  RE: Credit Card platform recomendations

    Posted 26 days ago
    I used Comdata at my last company and exposed some major security issues that I posted about on Connection Café already.  My former company ended up with a $125k fraud loss that they are still fighting with their insurance carrier over because Comdata told us none of their security flaws were to blame (I strongly disagree).  The bank providers have better security than Comdata offers, which is very important after that tough lesson I learned with Comdata.  Joe Harper (who commented on this as well) connected me with Capital One and they also had a strong program but for my for former company we decided that Commerce Bank was the better fit.

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    Brad Dalbec BS Accounting
    Cfo
    Builtech Services, LLC
    Schaumburg IL
    (630) 523-0174
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