I get sent offers in the mail all the time for Business credit cards mostly from Chase and Capital One and of course they go right in the trash because they are the same boring offers you always run into. When I received this new offer from Discover Card for my small business it was on its way to the trash looking at the cash back you get then I saw this part about the PurchaseChecks. I think either Discover has gone nuts, the media is blind, or maybe I am crazy. This should be the biggest thing any credit card issuer has done since offering cash back on credit cards.
You not only get free checks to use with your business Discover card but you also get checks that you can earn cash back on to pay merchants and suppliers. You earn .25% Cashback Bonus and I cannot find a limit posted on these transactions. Could you not just pay every single bill with these? No cash advance fees, no balance transfer fees, and no check fees. This could put your business banking account out of business.
This has been out a few months or so and I have seen no buzz about it either. Especially when most business checking accounts have these limits on check writing and most accounts payable have to use checks to make payments instead of cards. Why not use a Discover Business Card with fee-free PurchaseChecks for these payments? Why not use PurchaseChecks for ALL Payments that you do not use cards?
Here are some other useful purposes I can see these business checks being used for if your credit limit is high enough:
- Paying Taxes and earning .25% – this may be the ONLY fee-free way to pay federal and state taxes on a credit card. You would think we died and went to heaven!!
- Paying other credit card bills
- Cut employee checks
- Temporary Help
- Independent Contractors
It looks to me like the sky is the limit until you reach your card’s credit limit on these Discover PurchaseChecks. I would not be surprised to see more card issuers offering business check writing privileges if this works out well for Discover.
