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What is meant by a “flexible spending limit”? How does it work?
A flexible spending limit is offered on charge cards such as our Ink Bold business card. To provide this feature to you, we review your account and based on your spending and payment patterns on your Ink Bold business card, your other relationships with us and information obtained from personal and business credit bureau reports, we adjust your flexible spending limit to better meet your business needs. By developing and growing your relationship with us and demonstrating a history of spending and repayment, your overall spending capacity can expand over time.
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How is Ink Bold different from a traditional business credit card?
Ink Bold is a pay-in-full charge card that does not have a pre-set credit limit like traditional credit cards. Instead it has a flexible spending limit that is designed to adjust and grow to meet your business needs. While Ink Bold has a flexible spending limit, it doesn’t have unlimited spending capacity.
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What is a charge card?
Unlike a traditional credit card, a charge card must be paid in full each month. Since you don’t carry a balance on a charge card, you don’t pay any interest charges.
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Why might an Ink Bold charge card be good for my business?
Ink Bold provides you with the purchasing power your business needs along with the control and discipline of a pay-in-full charge card. With Ink Bold, you pay no interest charges because you pay off the balance in full each month. In addition, Ink Bold's flexible spending limit is designed to adjust and grow to meet your changing business needs.
By choosing Ink Bold in place of checks or debit cards, you enjoy the cash flow flexibility with up to 45 days to pay, depending on your purchase date, get more rewards and enjoy additional purchase protection features.
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How can I maximize my purchasing power?
By using your Ink Bold card for all your business purchases and paying the balance in full each month, you will establish a history of spending and timely repayment. By establishing this ongoing relationship, your flexible spending limit will continue to adjust to meet your business needs. In addition, you may make multiple payments each month to further increase your purchasing power, particularly during months when your spending needs may be unusually high. If you plan to make a large purchase, you should call us to let us know so we can work with you to ensure your spending capacity can accommodate your purchasing needs.
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What should I do if a charge is declined?
You should be able to use your Ink Bold card to spend confidently on your business purchases without disruption at the point of sale. In the event that you experience a declined transaction, you should call immediately to speak with an Ink Bold business card specialist. Often the issue can be resolved immediately, and you will be able to go ahead with the purchase.
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What should I do if I need to make a large or unusual purchase with my Ink Bold card?
If you are planning to make an unusually large purchase you should call the number on the back of your Ink Bold card first. You will have direct access to an Ink Bold business card specialist who can review your account with you to ensure that you have the spending capacity for the purchase in question. In addition, if you are planning to travel internationally, call us in advance to be sure your purchases will go through and that your account remains safe and secure.