Q:

What is a ghost credit card?

A:

Quick Answer

A ghost credit card is a credit card number assigned to a business department available for use by multiple employees. Ghost credit cards are sometimes issued in lieu of a traditional company procurement card.

Continue Reading

Full Answer

Purchases made on ghost cards are charged directly to the company department rather than to the individual using the card. The advantages of this type of card are that employee expenses are almost immediately visible to the company, and the employee does not have to worry about being reimbursed for the use of his personal funds. A downside of these types of cards is that it is possible for employees who have left the company to continue to use the number if it is still active.

Learn more about Credit & Lending

Related Questions

  • Q:

    What are some different credit card costs?

    A:

    Some credit card costs may include basic, usage, penalty and business processing fees, according to CardHub. Many of these fees vary by the card or provider, but they can quickly add up, and while some are worth their value, many can be avoided or reduced.

    Full Answer >
    Filed Under:
  • Q:

    How do you redeem credit card rewards?

    A:

    To redeem credit card rewards, get rewards in cash, use airline travel points, buy a gift card or save credit card points through the company, recommends Melody Warnick for CBS MoneyWatch. Contact the credit card company to get a list of eligible rewards or to redeem awards.

    Full Answer >
    Filed Under:
  • Q:

    What is a Belk credit card?

    A:

    The retailer Belk offers a credit card designed for use at its stores and online at Belk.com. Individuals who wish to apply for this card may do so by visiting the store's official website, scrolling to the bottom and clicking the Apply for a Belk Credit Card link.

    Full Answer >
    Filed Under:
  • Q:

    Can an EIN be used to obtain credit cards?

    A:

    An independent business entity, such as a corporation, can use a federal employer identification number to obtain a business credit card. An EIN is the company's account number with the Internal Revenue Service, and financial institutions use it in the same way as an individual's Social Security number to extend credit.

    Full Answer >
    Filed Under:

Explore