Small businesses: watch for a new program from MasterCard aimed directly at you. Starting this week, MasterCard will launch its new Business Bonuses Program, an offering designed specifically for todays small business owner.
The Business Bonuses Program provides small business owners who use a MasterCard BusinessCard the ability to earn free travel on any airline, with no black-out periods. These cardholders will receive one mile for each dollar spent. Of course, certain conditions and restrictions apply.
Look for special advertising via MasterCards Priceless advertising campaign. Print ads will run in such publications as Business Week, Entrepreneur and Forbes, and broadcast spots will appear nationally on network television, CNN and CNBC, among others. The program is being marketed by Advanta and Wells Fargo.
MasterCard has conducted research that has indicated that small business owners primary motivations for obtaining business cards include:
l. validation of the company as an established business;
2. separation of business and personal expenses for tax and accounting purposes;and
3. the ability to receive value-added discounts on items such as office supplies and travel.
The MasterCard BusinessCard program was launched in 1985 to address these issues and more. It also includes providing cardholders with cost-savings offers from MCI-Worldcom, Motorola and DHL Worldwide Express. Some of the other benefits cardholders receive are:
–at more than 16.2 million locations
**MasterRental Insurance Coverage
–Full-value primary collision/loss damage coverage for up to 31 days. Savings of up to $15 per day.
**MasterPurchase Retail Protection Services
–Purchase assurance and extended warranty coverage.
**MasterRoadAssist Travel Assistance Services
–24-hour emergency roadside assistance available through MasterCard and AAA
**MasterAssist Medical Protection
–Medical expense coverage up to a maximum benefit of $2,500 per person, per trip for costs relating to hospital admission or emergency care
**MasterTrip Travel Assistance
–Emergency cash, replacement of lost tickets and documents, and lost luggage assistance.
**MasterLegal Referral Service
–Legal referrals and bail bond assistance while cardholders are abroad.
**MasterCoverage Liability Protection
–Provides liability protection against unauthorized employee charges up to $15,000 per card for business with 5 or more cards. Businesses with 2-4 cards are protected up to $5,000 per card.
**MasterCard Value Added Tax (VAT) Reclaim Service
–Provides companies doing business in Europe ease and efficiency in reclaiming their VAT.
Check out the Business Resources link on their Web site, www.mastercard.com, for more details on the BusinessCard and other valuable information on key issues affecting small businesses. You can also apply for a BusinessCard online.