You may have received a solicitation recently for a “professional card” or as it is otherwise known a small-business or corporate credit card.
Sure it sounds cool…”professional” and all that.
But these cards are not covered by the CARD act. All of the controversial billing practices, like interest rate increases, shortened payment cycles and inactivity fees, that have been all but eliminated on your regular cards due to the CARD act, can still be common practice on a “professional” card.
In other words, you as a consumer are not protected and these cards seem to be solely for the benefit of the credit card companies, and maybe a few consumers egos, of course.
Check out “The perils of going pro”
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