I had applied for the corporate card based on similar expectations as yours. I ended up canceling the entire account a few days later. Why? As a small business owner I wanted to make sure I could collect the club reward points for company spending and use them myself. I later found out that I could do this only in a limited fashion, with points not redeemable for miles.
But, the nail that sealed the coffin for me was the 3% foreign bank fees + whatever MC decides to charge. Since the majority of our travel is outside the US this was too big of a deal for me to just let slip by. Citi is big enough that they can buy/sell currency at the bid/ask and make money that way.. why they, or anyone, mandates a foreign % fee (other than greed) is beyond me.
That being said, I really wanted to keep it b/c cust. service is so good and 60 days to pay is really nice.