Using Business Credit Cards with Your Business
A business credit card is obtained in much the same way as a consumer credit card is. They have a very similar application and approval process, you still get charged interest if you carry a balance, and they have an impact on a credit rating, but usually on the businesses', not the consumer's.
These cards generally offer low interest rates, various rewards options, easy online account access and other account services to support the needs of your business. They often times have higher credit limits than the typical consumer card.
If you are a typical entrepreneur applying for a credit card for your business, your personal credit history will be checked. This is because most small businesses do not have their own separate credit history, so as the owner, you are essentially personally guaranteeing the business card.
On tool that really can help the business owner keep track of expenses is a credit card. You can easily track where business funds are spent, and they allow for the tracking of employee spending as well.
Most credit cards for business offer quarterly and annual reports of your credit card charges. This really can assist you in seeing how much is spent on what category every year, helping you to formulate financial strategies.
Another feature of a business credit card is rewards programs. These can be similar to what is offered on a normal consumer credit card, but generally have rewards that are more tailored to the needs of a business owner, or the company itself.
A business credit card can help your business grow, especially when it comes to finances. However, you need to make sure you find one that not only suits your business, yet offers the maximum benefits to your company.
Business credit cards should be used as tools for success and should never be abused. Since they are designed specifically for corporate and small businesses clients, they are an affective tool that can grow and change with your business needs.
These cards generally offer low interest rates, various rewards options, easy online account access and other account services to support the needs of your business. They often times have higher credit limits than the typical consumer card.
If you are a typical entrepreneur applying for a credit card for your business, your personal credit history will be checked. This is because most small businesses do not have their own separate credit history, so as the owner, you are essentially personally guaranteeing the business card.
On tool that really can help the business owner keep track of expenses is a credit card. You can easily track where business funds are spent, and they allow for the tracking of employee spending as well.
Most credit cards for business offer quarterly and annual reports of your credit card charges. This really can assist you in seeing how much is spent on what category every year, helping you to formulate financial strategies.
Another feature of a business credit card is rewards programs. These can be similar to what is offered on a normal consumer credit card, but generally have rewards that are more tailored to the needs of a business owner, or the company itself.
A business credit card can help your business grow, especially when it comes to finances. However, you need to make sure you find one that not only suits your business, yet offers the maximum benefits to your company.
Business credit cards should be used as tools for success and should never be abused. Since they are designed specifically for corporate and small businesses clients, they are an affective tool that can grow and change with your business needs.
About the Author:
Author Caressa Waechter uses a Visa business credit card with her company and understands its benefits. Learn more about getting a Advanta business credit card by visiting her website.
posted by Credit Counseling at
2:43 AM
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