Chase Rewards Visa For Contractors

2007-11-09 05:11:17

( Financial )



One of the more innovative Chase Rewards Visa products developed for a specific market is the Chase Rewards Visa for contractors.

When you are in business, especially contracting for construction jobs, you will observe that your cash flow is often strained to the limit. You have to purchase construction materials in volume and various supplies, and you may not always have the cash available. The Chase Rewards Visa designed for contractors aims to relieve some of their cash flow problems.

The Chase Rewards Visa for contractors effectively gives you a credit line of 60 days before you start paying qualified purchases of construction materials that you need for your project. Each single purchase amount should reach a minimum level set by the card issuer to enjoy the 60-day payment scheme and should still be within the revolving credit amount approved for your account. You can always check the running balance on your account through the Chase online credit card service.

The 60-day payment program offered in the Chase Rewards Visa for contractors also means that no interest will be calculated on the amount you charge qualified for 60 days, if the amount still falls within your approved revolving credit. The no-interest feature gives further relief to the cash flow burden. Like any rewards program, your qualified purchases will also be eligible for cash back, and other forms of rewards. Be aware that purchases at discount stores will not be eligible.

If you charge purchases that will exceed your revolving credit, the amount in excess will carry finance charges and will become payable at the next billing period; it is not included in the 60-day payment scheme. You will have to ensure, though, that you will not miss any scheduled payments as they fall due. Otherwise, you will lose the privileges and benefits of your Chase Rewards Visa for contractors.


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