Business Debit vs Credit Cards: What Holdings Customers Need to Know

Holdings offers business debit cards with virtual card capabilities, providing a secure and flexible payment solution for businesses. Here's how business debit cards compare to credit cards:

Key Differences

Funding Source

• Debit Cards: Directly linked to your Holdings business checking account

• Credit Cards: Utilize a line of credit (not offered by Holdings)

Spending Limits

• Debit Cards: Limited to available account balance

• Credit Cards: Offer a credit limit, allowing for purchases beyond current funds

Credit Building

• Debit Cards: Do not affect business credit

• Credit Cards: Can help establish and improve business credit

Rewards

• Holdings Debit Cards: None

• Credit Cards: Often offer cash back, travel rewards, and purchase protections

Advantages of Holdings Business Debit Cards

1. Virtual Card Capabilities: Holdings debit cards offer virtual card functionality, providing enhanced security for online transactions

2. Direct Spending Control: Helps avoid overspending and debt accumulation

3. No Credit Check: Easier to obtain than credit cards

4. Immediate Fund Access: Transactions are processed instantly from your account

5. Enhanced Security: Virtual cards provide unique numbers for online purchases, reducing fraud risk

6. Simplified Expense Management: Directly deducts from your account, simplifying budgeting and reconciliation

Virtual Card Benefits

• Online Shopping Security: Generate unique card numbers for each transaction or merchant

• Subscription Management: Ideal for recurring payments and subscriptions

• Instant Access: Start using virtual cards immediately upon approval

• Easy Checkout: Save virtual card details for quick online purchases

While Holdings doesn't offer business credit cards, their debit cards with virtual capabilities provide a secure, flexible, and manageable payment solution for businesses looking to control spending and enhance online transaction security.