Archive of CFMA.org Forums > General Inquiries > Visa Credit Cards with Rewards

Mon, 02/07/2011 - 2:52pm  
Stephanie MagenauI am considering switching our company visa cards to an option that offers rewards (ie. cash back, travel points, merchandise, etc.) Our current credit cards do not offer any rewards, and I think we are missing out on potential savings. I'd like a card that offers flexibility in what we spend the "points" on and allows us to pool "points" so that we can spend them as we wish, instead of the points being assigned specifically to each card carrier. Can anyone recommend a good credit card or provide a warning for any card programs that were a total disaster?
Tue, 05/31/2011 - 11:37am #1
Sharon Vance

I am a customer of Comdata.  My company uses Comdata for Purchasing cards for our employees, Fuel cards and as a virtual card to pay our vendors.  I have been a customer with Comdata for 5 years.  They have incredible customer service.  Comdata offers a discount based on basis points back to their customers.  It works very well.  They will either issue you a check or deposit the discount into your bank account.  Comdata also gives a portion back to the local CFMA chapter and the National CFMA chapter.  Comdata is very supportive of CFMA both locally and nationally.  I have used American Express in the past and found it extremely difficult to redeem their points.  You should give Eric Newton a call or email enewton@comdata.com (615)370-7108.

Thu, 05/05/2011 - 9:59am #2
Billy Stockton

We are a GC that uses Cardmember Services through our bank (Bank Newport in RI).  It is a basic Visa card with effectively cash rewards and does not have any fees.  It is 3% for gas/telecom/restaurants and 1% for everything else.  It uses a point to dollars system which works well.  We use the accounting software to track each credit card account as a bank and use the reconciliation feature.  Makes processing everything so much more efficient than traditional vendor invoicing and payment.  I like the cash back as it is easy to administer.  We also use the Visa card as part of an overall electronic processing initiative, which has been incredibly successful for us.

I hope this helps!

Billy

Thu, 02/10/2011 - 1:06pm #3
Victor Marshall

Just an interesting perspective. We accept credit cards and I was reviewing our account and noticed 2 rates for processing orders- one was 3.69% and the other was 2.44. Turns out that the difference is the cost of a Rewards Program. I doubt there is anyone out there that would allow you to leverage this but in the bigger picture, we ALL would probably have been better off of these programs had never caught on. That being said- I like my rewards points, too :)

Mon, 02/07/2011 - 9:18pm #4
Brian Cresap

We have been using Comdata for the last 6 months. Setup was fairly easy and the rebates come monthly to the company. We have some employees set up for gas only, some for all purchases and each group has a different credit limit. Their system is web based and easy to administer. They are also very good about calling regarding questionable purchases. Overall I would have to say they are a 9 out of 10.

Mon, 02/07/2011 - 7:49pm #5
Kenneth Ward

We recently stwiched for the same reason and we selected Comdata.

Check them out, they focus on cash rebates that are very competitive.

Good people.  Email Billy Parker at wparker@comdata.com

Tell him Ken Ward sent you.

Mon, 02/07/2011 - 5:56pm #6
Joseph Larson

We currently utilize AmEx.  the rewards are card holder bearing and require the individual to transfer points to the parent level, quite cumbersome.  They have indicated that pooling is coming sometime soon.  We have investigated Comdata whose rewards are cash rebates on a consolidated level and are very intriqued with that possibility.  Brian Tremlett (btremlett@comdata.com)