New York (PRESS RELEASE – July 18, 2011) – Corporate Insight announced recently the release of a new series of research reports focused on the credit and charge card offerings currently available to small business owners. On a monthly basis, Corporate Insight, the leader in competitive intelligence in financial services, will evaluate the current card products and online services provided for small business clients through its new Small Business Card Monitor subscription service.
The series launches with a detailed overview of the attributes, rewards and annual fees of the 53 small business cards now offered by American Express, Bank of America, Capital One, Chase, Citibank, Discover, U.S. Bank and Wells Fargo. Future reports will track the online account management capabilities offered to small business card owners, as well as changes to products and services as they occur, such as the recent launch of the Chase mobile application “Jot.”
According to the U.S. Office of Small Business Administration, about 50% of all U.S. employees work for a small business and small businesses pay 44% of the nonfarm U.S. private payroll. It is up to credit card companies to provide these businesses with tools and rewards that best suit the need of each individual business.
“If you’re a small business owner, you know that a credit card is essential to maintaining monthly cash flow. Fortunately, the wide variety of cards available today means that most small business owners should be able to find a card that meets their needs,” says Alisson Andrade, senior analyst of Small Business Card Monitor at Corporate Insight. “Through Small Business Card Monitor, we will provide the industry with a first-hand view of the customer experience along the lines of what we have done with our Credit Card Monitor service. We will benchmark the major issuers’ small business card offerings and provide continuing coverage of this important market segment.”
Corporate Insight believes that small business card users must have access to robust account information online, to effectively monitor business expenses and employee spending habits. The high dollar amount typically associated with running a business also means card rewards are achieved faster and many companies tailor awards to the needs of their small business.
The next report in the series will focus on the ways credit card companies allow customers to request an employee card and the various steps in the process compared firm-to-firm.
Corporate Insight employs consistent methodology and criteria in grading the attributes of companies included in every report. This grading system will always be completely transparent to provide total objectivity. A company’s client-status is not taken into consideration while compiling findings. Corporate Insight offers monitoring services that cover the entire online financial services spectrum – including annuities, brokerages, banking, mutual funds and credit card services.
About Corporate Insight
Corporate Insight currently provides a comprehensive selection of syndicated research to 90% of the top financial services companies within the Fortune 500, representing 70% of the brokerage industry and 60% of US banking assets. Its expert analysts compile highly detailed research audits that deliver a unique, firsthand understanding of financial product offerings and websites. All research is compiled through personal interaction with each website.