Looking for a credit card that will help you accelerate business growth? Divvy is one of the options worth considering. In this Divvy Business Card review, I will walk you through some of its details to help you decide if this is the right business credit card for you.
Divvy Business Card is for small and large businesses. It has no annual fee and allows unlimited employee accounts. The credit card offers rewards for all your expenses with a multiplier depending on your frequency of payment. Aside from the card itself, you will also have access to powerful business software with top-notch features, such as an expense management system.
Read on to learn more about Divvy Business Card, including its notable features, as well as some of its benefits and drawbacks.
Divvy is not your ordinary bank or credit card provider. It offers a quick and versatile solution for those who need business credit. Regardless of the business’ size, the company aims to deliver fast access to your funding needs.
You can finish the application after a few seconds. Upon approval, you can use the card within minutes to meet your business requirements.
What makes Divvy special is that it combines a credit card with business software. Meaning, when your credit card application has been approved, you will also enjoy access to their feature-rich software. The latter will make it easy to manage the financial aspects of your business, such as your daily expenses or monthly budget.
Main Features of the Divvy Business Card
Thinking of applying for a Divvy card? Learn about some of its most notable features in this section:
1. Expense Management System
With a Divvy card, you will access an extensive expense management system. This can redefine business management, especially in small organizations. It will track every expense on the card and will also categorize such. By creating a comprehensive report, you will know where your money is going.
2. Virtual Cards
Even without a physical card, your employees can use Divvy. You can issue unlimited virtual credit cards. Each card will have a unique 16-digit number, which the employees will use for making online purchases. It provides excellent security since there is a separate card for every user, minimizing the possibility of fraud.
3. Separate Credit for Business
Personal credit rating isn’t a factor here since Divvy does not use such to evaluate the credit line you are eligible for. They separate business from personal credit. More so, it will allow you to build the credit of your business.
The card will be submitting your credit payment behaviors to the right companies, which can then count towards your credit report.
4. Choose Your Payment Scheme
Another notable feature of the Divvy credit card is that it allows businesses to choose how often they will pay their dues. You can choose from:
- Semi-monthly, or
This makes it easier for you to manage your cash flow. Your choice will also dictate the rewards you can earn from eligible transactions.
Pros and Cons of the Divvy Business Credit Card
Is the Divvy Business Card the right credit card for you? Only you can answer this question. To help you decide, this section takes a quick look at some of its benefits and drawbacks.
Divvy Business Card Pros
If you need more reasons why you should get this business card, check the list below:
1. No Annual Fee
The best thing about this card is that it does not charge an annual fee. This is a great way to save money, especially if your business must apply multiple cards for many employees.
2. Easy Application
We also love how the application is a breeze—no need for a physical appearance. You can complete everything online within a few minutes. You will need to complete only six steps. If there are additional requirements, a representative of Divvy will reach out to you immediately.
3. Enforceable Budgets
It is easy to keep track of your budget when you are using Divvy cards in your business. You can set individual limits depending on the role of the employee or the user. This makes sure that you stay on top of your finances.
4. Enjoy Exclusive Offers
Throughout the year, Divvy partners with several companies to offer discounts and promotions. Some of the companies they work with include Lyft, Uber Eats, Google Ads, and Verizon Wireless. Check out their website for the latest promos.
5. Apply for Unlimited Employee Cards
Another good thing is that there is no limit regarding the employee cards that the business can apply for. Whether you’re operating a small or large business, you’ll enjoy the flexibility that Divvy can offer.
6. Excellent Customer Service
If you have questions or concerns, someone is immediately available to extend a helping hand. Unlike others, you can connect to a person you can talk to, wherein your only option is to connect to a chatbot or wait for a response to your email.
7. Provide Different Permissions
With Divvy, you are in complete control of how the employees are using their credit cards. You can set different permissions depending on the user. You don’t always have to give your log-in credentials while still giving someone a degree of freedom in using the card.
Divvy Business Card Cons
Despite the good things about the Divvy card, there are also some drawbacks, including those that we’ll discuss in this section:
1. Does Not Come with a Welcome Offer
One thing that attracts most people to a credit card is the welcome offer. Unfortunately, for this option, you won’t get any welcome bonus. It targets businesses instead of individual customers, which is probably why the company is not keen on offering a welcome bonus.
2. Low Reward Value
While it’s a good thing that the credit card earns rewards, many may not like how the redemption value is quite low. You need to swipe the card often and spend a lot to enjoy significant rewards from Divvy.
3. Not for Applicants with Poor Credit
The company explicitly states that it isn’t for people with a poor credit rating. You need to have a good to high credit score for approval. Nonetheless, you will find practical tips on making your credit standing more favorable through the company’s website.
Again, what does the Divvy Business Credit Card offer? The Divvy Business Card is one of those no-annual-fee credit cards that also offer unlimited employee accounts. Besides these benefits, Divvy rewards your expenses with a multiplier and gives you access to an expense management system, business software with excellent features.
Earning and Redeeming Points with the Divvy Business Credit Card
With this credit card, you will be rewarded for your expenses. It might not be as generous as other cards, but we love how it has several offers, ensuring that you get the value for every dollar you will charge.
You will earn a point for every dollar spent using your Divvy card. The good news is that the company offers a multiplier depending on your spending category and payment frequency. You need to select how often you will settle the card’s payment, and your choice of such will determine your rewards.
The table below shows a quick summary of the reward system. The upper row shows the frequency of payments, and the left column shows the expense category. Meaning, if you pay the card weekly, all your restaurant expenses will earn times seven points. Meanwhile, for monthly payments, your restaurant expenses will only earn two times points:
|Recurring Software Subscriptions||2x||1.7x||1.5x|
|All Other Purchases||1.5x||1x||1x|
Once the credit card accumulates enough points, you have several options for its redemption. The following are the categories available, as well as the value of every point:
- Travel: 1 point = 1 cent
- Gift Card: 1 point = .51 cents
- Statement Credit: 1 point = .49 cents
- Cash Back: 1 point = .52 cents
When you are ready to claim your rewards, you can do so directly on the website. On average, it takes up to ten days before the company completes the processing of your request.
Special Offers Available
Aside from the rewards, you can also take advantage of different offers from Divvy’s partners. While these offers will occasionally change, as of the time of writing this review, below are some that you can enjoy:
- A maximum of $25,000 AWS Activate Credit for two years
- $150 off on Google Ads
- $50 off on a new Verizon Wireless phone
- $10 off on your first Lyft ride
- $5 off on your first three Uber Eats orders
- $12 off on Grub Hub purchases of at least $15
- $25 off plus one-time upgrade at Avis Car Rental
Conclusion: Divvy Business Card
Whether it is for business funding or buying office supplies, among other things, the Divvy credit card will come in handy. Aside from the card, you will also have access to business software, which will help manage your daily operations, such as budgeting.
With Divvy, your everyday expenses will earn rewards. In turn, you can exchange the points for travel, gift card, and cashback, among others. The credit card also allows enforceable budgets and has superior customer support. Nonetheless, it has several drawbacks, such as low point redemption value and lack of a welcome bonus.