Payment Card News

Biz Multi Card

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A new business card has emerged that enables businesses to use it as a prepaid card or as a secured credit card to build business credit. But watch out, the card has super high fees. The new “CSI MasterCard Corporate Multi-Card” offers two options. The first option allows businesses to pre-fund a card through a business initiated ACH bank payment or wire transfer, with a $1,000 minimum. The second option is a deposit account. With this option, applicants submit a deposit to secure their account and establish an initial credit line equal to the deposit. The business is invoiced and makes payments twice per month on the 1st and 16th. The card also offers automatic fuel discounts at 25,000 locations nationwide. But, CSI charges an initiation fee of $75 and a $75 annual fee. The late payment fee is $75.00 or the maximum amount permitted by law. There is also an over-limit fee of $50 and an account reinstatement fee of $15. The CSI card is issued by Regions Bank. For more information visit: “http://www.csi-businessmastercard.com”:http://www.csi-businessmastercard.com

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