Wholesale buyers, looking to buy more merchandise?
Amazon, the largest retailer online in the states has two types of corporate credit lines. One of the credit lines available is the Pay-In –Full Credit Line and the other credit line is called the Revolving Credit Line. The Amazon corporate credit lines are good for small business owners who shop online at Amazon.com or Amazon businesses. The Amazon credit center is managed and operated by the Synchrony Bank. The bank also issues both of the credit lines although applications are done through Amazon.com. As a small or medium-sized company that shops online from Amazon, you can easily pay for most of your eligible orders on the amazon site.
How to apply.
Applications for the Amazon Corporate Credit Line can be made online by visiting Amazon.com Corporate Credit Line. It is also wise if you choose the most convenient credit line that can fit your business before engaging in the online application.
The Amazon Corporate Credit lines are easy to get although it needs an established business credit history. Other specifications that should be met before application of the Amazon corporate credit lines are:
1. Your company should be in business for at least two years.
2. The owner should be willing to personally guarantee the account.
Once you get the Amazon corporate credit line you will only be approved to make purchases for business purposes and not for household or family use. This helps both parties to keep up to the best business standards.
There are also a number of things that your Amazon Credit line will not be able to purchase, they include:
1. Games and software downloads.
3. Prime memberships.
4. Digital and print subscriptions. (Also newspapers and magazines.)
5. Subscribe and save orders.
6. Amazon gift cards.
One of the main advantages of the Amazon corporate credit line is that it has a space to indicate the purchase order or reference number on the payment section if applicable on your product. This reduces time and resources spent by mailing a hard copy of your purchase orders to Amazon.com.
Pay-In-Full Corporate Credit Line.
A pay in full credit line is a credit line that requires full payment of bills by the client company. With this type of credit line, you can also set up several accounts for multiple purchases. You also get a dedicated accounts manager and you are not required to pay any annual fee. This is quite interesting from Amazon. The Pay in full credit line is best for small enterprises.
Revolving Credit Line
The revolving corporate credit line has a flexibility of payment in that you can always pay minimum monthly payments. It is ideal for both small and medium sized companies. The remaining balances at the end of every month are carried forward and recorded as finance charges. It also has an advantage of 12.99% purchase APR. The revolving credit line has an option of applying as a personal guarantor to build business credit. They offer services for 24 hours and have no annual fee.
It also good to know that if you apply for a revolving credit line you will need to fill a personal guaranty if your wholesale or retail company is less than three years old, or if your business is either a sole proprietorship or a partnership.