Learn about actual and potential costs
How much should I pay for Business Credit Card Services?
What is the average price of Business Credit Card Services?
This procurement report includes pricing information to help you purchase Business Credit Card Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Business Credit Card Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Business Credit Card Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Business Credit Card Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Business Credit Card Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
Among the estimated 5,200 credit card issuers in the US market, the top four players account for more than 50.0% of total market revenue, signaling a high level of concentration. Major credit card issuers, such as American Express, JPMorgan Chase and Bank of America, have garnered large client bases throughout... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
How do you attract new clients and retain existing clients?
What incentives do you offer long-term clients to stay with your company?
How long have you served your longest-tenured client and why have you been able to retain their business?
How do you maintain a competitive edge?
How do you expect future regulations to impact your operations?
How have you complied with the Dodd-Frank Act and how has that affected your business?
Do you expect any issues with your foreign branches due to the increasing regulations? How will you respond to these issues?
Do you anticipate issues with your ability to extend large lines of credit?
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Key elements for every RFP
What should my RFP include?
Buyers should request a detailed breakdown of the issuer's fees (standard APRs, late fees, foreign transaction fees, ATM cash withdrawal fees, etc.).
Buyers should include any other expenses for which card issuers are responsible, such as mailing cards.
Buyers should evaluate credit card issuers based on their costs and rewards.
Buyers should ascertain the extent to which operators meet their service needs.
Buyers should evaluate vendors based on their ability to offer scalable solutions.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include the date proposals are due and any other relevant dates, such as presentation dates or final interview dates, prior to the contract award.
Buyers should include the date the contract begins and ends, as well as any options for contract renewal.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Supply chain risk for business credit card services is moderate. To provide business credit cards, suppliers require services from credit card processors, such as Visa and MasterCard, in addition to commercial printers, commercial lessors, consumers and other commercial banks. Credit card processors pose little risk, primarily because these upstream... Subscribe to learn more.