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A Credit Card for Entrepreneurs

A Credit Card for Entrepreneurs A credit card with a CZK credit limit is designed for entrepreneurs who always want to have a financial reserve at hand, regardless of the balance of their business account. The most advantageous use is for payments for the goods and services of your business partners, but with it you can also make cash withdrawals from ATMs and from bank branches in the Czech Republic and abroad, make payments when purchasing foreign currencies at exchange bureaus, pay via the Internet, and transfer money through electronic banking to current accounts maintained at ČSOB.

Advantages

The card offers money immediately, without having to save up for a long time. The credit limit can be up to CZK 500,000. The money is available 24 hours a day, 365 days a year, anywhere, and at any time. You can have several credit cards with one credit limit. You can repay the amount drawn at any time, without a fee, even outside of the agreed payment date.

Other advantages include:

An interest-free period of up to 45 days;
You only need to pay 5 % of the amount drawn every month;
Your choice of the due date (between the 5th and 25th day of each month);
The possibility of setting up a direct debit for the repayment amount you choose.

When making arrangements to get the credit card, you can choose from one of the supplementary services, which we will arrange for you directly at the branch:

Insurance of payment card loss/theft;
Travel insurance with payment cards;
Legal protection insurance for motor vehicle drivers (D.A.S. insurance).

Get Acquainted

The credit card is issued in the form of a MasterCard (un-embossed, Business, or Gold), with the following parameters:

Have a current account at ČSOB;
Weekly card limit;
Credit and card limits for each MasterCard type:
- Un-embossed and Business (CZK 20,000–500,000),
- Gold (CZK 150,000–500,000),
The card limit is chosen by the client and it may amount to no more than the loan granted;
Cash withdrawals and money transfers to current accounts, to up to 90 % of the weekly card limit, and all other transactions up to 100 % of the card limit;
The interest-free period can be taken advantage of if the entire amount drawn is repaid;
The interest-free period applies to cash and cashless transactions executed with the card.

Conditions of Provision

You can obtain the card:

If you have been engaged in business for at least 13 months;
If you present 2 tax returns including appendices to the Bank;
If you have or open a current account with the Bank;
If your place of business is in the Czech Republic;
If your revenue was at least CZK 50,000 in the last 2 taxable years;
If you give the Bank a sworn affidavit that your company does not owe any debts to the tax authorities, the social security authority, or health insurance fund (from some clients, the Bank requires a Confirmation of Non-Indebtedness towards a Revenue Authority).

At the time of card issuance, you only need to:

Apply for a credit card with a credit limit (bank form);
Present two tax returns with appendices (provided that you submit them);
Present two identification documents (citizen identification card + for example, a driver’s licence);
Decide which type and how many credit cards you want.

All other conditions are governed by the General Business Terms and Conditions of ČSOB, Conditions for Payment Cards of ČSOB Clients, and the provisions of the Loan Agreement and Credit Card Issuance Agreement.

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