There are six corporate or business credit cards on the market issued by Jamaican banks, often at a more favourable rate than for personal or consumer credit.

The amounts or credit limits on the cards vary depending on your projected cash flow and statement of accounts. With one exception, the business cards tend to be cheaper than personal credit cards on which interest ranges up to 49 per cent.

There are 24 consumer cards on the market.

Repayment periods on corporate cards can be as long as 55 days, as in the case of National Commercial Bank (NCB).

Business Executive

Scotia offers the Business Executive A-Advantage MasterCard at 42 per cent and the Business MasterCards at 40 per cent interest rate.

The repayment period is the same as the personal credit card - 21 days.

FirstCaribbean Corporate Visa card is available at 49.99 per cent interest. Repayment is expected between 25 and 31 days.

KeycardBiz

NCB offers KeycardBiz, a Jamaican-dollar card and VisaBiz, a US-dollar card. KeycardBiz attracts 39.75 per cent and Visa Biz goes at 17 per cent interest. Both have repayment periods of 55 days compared to 30 for the personal credit card. Users of Keycard Biz will get back 0.75 per cent on total purchases.

Cash-secured cards are offered at one per cent less interest. A secured VisaBiz attracts 16 per cent interest while the secured keycard biz is offered at 38.75 per cent.

RBTT offers the Visa dual-currency card at 18 per cent and Visa Business at 49 per cent. Repayment is in 25 days.

avia.ustanny@gleanerjm.com