Visa Corporate Credit Card

Unlike a personal credit card

Unlike a personal credit card which is typically used for personal expenses only, a Corporate Credit Card serves as an extension of a corporate finance facility provided to a company by its Bank. Depending upon the approved credit card limit allocated to it, the company may apply for credit cards to be issued to its designated employees. Usage however is strictly limited to corporate related expenses only.

Corporate Credit Card outperforms

Sohar International Corporate Credit Card outperforms all other corporate credit cards in that it is a universal payment solution to help businesses make and manage a range of corporate expenditure. A flexible, efficient and innovative reporting system ensures that customers receive comprehensive card statements. Moreover, a sophisticated Spend Management web-based solution allows cardholders to access all the necessary information and tools to make better and more efficient business related decisions.

Features

Visa’s global network

Based on Visa’s global network, the Corporate Credit Card is accepted at more than 26 million locations including over one million ATMs worldwide. It covers purchases made over the counter, through ATMs, and online, if required.

Annual Fee Waiver

Minimum spend of RO 7,000 per year per card.

24/7 Global Emergency Assistance

Freeze your credit card by calling our emergency service from anywhere in the world at any time of day.

Equipped with Visa 3D Secure

Visa 3D Secure guards you against unauthorised use of your card when making online transactions with additional password authentication for online transactions.

Business card liability waiver insurance

Provides protection against employees unauthorized use of their Corporate Card

What is a Corporate Credit Card?

A Corporate Credit Card is an extremely convenient and complete solution for businesses. It provides users with absolute control on their corporate spend and helps minimize the paperwork associated with everyday operational expenses. Additionally, it helps maximize the organization's operational efficiency and reduces costs.

How does Sohar International's Corporate Credit Card differ from other such products available in the market?

The Bank allocates an overall credit limit at the corporate level, and sub-limits for designated employee credit cards. The Bank provides two sets of statements at the end of each month – one showing spend transactions by all cards issued to the company, and the other showing spend transactions by individual cardholders. Besides, other issuers do not offer online monitoring of credit limits and transactions.
The card's advanced Spend Management web-based solution allows cardholders to access all the necessary information and tools to make better and more efficient business related decisions.
The corporate liability waiver program protects customers against losses that might be incurred through card misuse by employees.
The Corporate Credit Card comes with comprehensive insurance cover, which includes free travel accident insurance and emergency medical assistance of up to US$2 million.

Can the corporate credit card be tailored to the customer's requirements?

The corporate credit card can be customized to meet the user's specific needs. Thus, the credit card can be programmed for cash withdrawals, online transactions, over the counter purchases, and so on, depending upon the customer's requirements.

How does one apply for a Corporate Credit Card?

The process starts with a detailed product presentation to the corporate customer's designated Finance and Accounting personnel. Thereafter, in consultation with the applicant, the overall corporate credit limit is set. This limit will be part of the overall working capital facility made available by Sohar International to the customer. Once the paperwork is in place, Sohar International begins the process of setting up and customizing an account in the customer's name. A brief training session for the corporate user then follows before the credit card is fully activated.

Who needs to open an account with Sohar International in order to have a corporate credit card facility?

Any company applying for corporate credit card must open an account in its name with Sohar International.

What are the safety features incorporated into the corporate credit card?

This chip-based card comes with powerful safety features that offer complete protection against potential misuse. Users exercise full control over their transactions (whether related to over-the-counter purchases, cash withdrawals, and online transactions).

Fees and commission

Annual Fees	Fees per Card
Fees and Charges
Re-Payment Term
Cash Advance
Corporate Credit Card(s) *	1st year free annual fee for the Corporate Credit Card 2nd year onwards RO 20
Annual Fee Waiver	Minimum Spend of RO 7000/- per year per card will be entitled to annual fee waiver (for this card only)
Annual Interest rate for corporate customers with other credit facilities	12% first year 18% from the second year onwards
Annual Interest rate for corporate customers having corporate credit cards only as Sohar International facilities	12% first year 20% from the second year onwards
Cash Advance Fee	RO 3+3% of amount
Card Cancellation Fee	RO 20/-
Card Replacement Fee	RO 20/-
Over Limit Fee	RO 20/-
Returned Cheque Fee (for lack of funds)	RO 50/-
Receipt Copy Request Fee (on invalid disputes only)	RO 25/-
Foreign Transactions Fees (apply for all transactions made in currencies other then OMR)	3% of transaction amount
Minimum Amount Due	100%
Interest Free Period	Up to 50 days
Cash Advance Limit	0% or upon corporate customer request
Late Payment Fee	10+3% on amount due

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