You Should Be Using Virtual Cards

You Should Be Using Virtual Cards

Insight from CJ Gustafson

Think about how many cards are used across your team.

Raveena has an AMEX with Bank of America. Nick uses Chase. Laura puts all of the Google Ad spends on her Capital One card. 

By some miracle (and hours of passive-aggressive reconciliation via a 50+ message Slack thread), Finance figures out a way to piece it all together. Or, in some cases, they don’t.

You know it could be easier, right?

I’m going to let you in on how I streamlined my company business cards using virtual options.

ALL recurring expenses go onto virtual cards, with ONE bank.

I like to organize the card numbers into categories to make Finance’s life easier: rent for our co-working space, paid ads, software licences, etc.

You can also turn the cards on and off whenever there’s a personnel or vendor change without waiting for a physical card to make it through the mail system. 

I now spend way less time scrutinizing multiple accounts – a quick glance at the category lets me see the expenses and know if we’re on budget.

What else could go on a virtual card?

• Online ad spending (broken up by platform, if you’re fancy like that)

• Cloud storage fees

• Business phone plans

• Cybersecurity tools

• Access to training courses for your team

It’s all recorded and categorized. Neat and tidy.

Learn more: A complete guide to virtual credit card numbers