Declining Balance Cards
A Declining Balance Card (sometimes referred to as a Controlled Value Card) is related to a P-Card, but spend limits do not refresh each month. Rather, a spend limit and/or expiration date are established up front, giving it a limited “shelf life” for a special purpose, such as expenses pertaining to meetings/events, specific projects, etc. As such, the card might be called a Meeting Card, Project Card or similar. Another popular use is for infrequent travelers. Such programs are commonly called Single Event Travel (SET) Card programs.
Declining Balance Cards can also be ideal for helping employees set up home offices—an increasingly common arrangement resulting from the 2020 pandemic crisis; see related blog post.
Given the various possibilities, Declining Balance Cards can enhance your payment toolkit. Check with your issuer to see if this card option is available.
Declining Balance Cards can be a good solution for addressing unique projects and scenarios.
Don't forget to subscribe to the blog (no charge) to receive educational content!