Amid all the junk mail cramming your box in recent months, you might have noticed a solicitation or two for a “professional card,” otherwise known as a small-business or corporate credit card.
While Capital One Financial Corp.’s World MasterCard, Citigroup Inc.’s Citibank CitiBusiness/AAdvantage Mastercard and the others might look like typical plastic, they are anything but, says Jessica Silver-Greenberg of the Wall Street Journal.
To begin, professional cards aren’t covered under the Credit Card Accountability and Responsibility and Disclosure Act of 2009, which prohibits issuers from controversial billing practices such as hair-trigger interest rate increases, shortened payment cycles and inactivity fees.
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