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Sunday, February 22, 2009

How To Make The Most of Business Credit Cards

By Robert Hett

Nowadays, business credit cards go hand in hand with running a company successfully primarily because of higher credit limits being available. Specifically tailored business credit is another reason for choosing to have business credit cards, as are the various reward programs offered.

Airline Rewards Miles

Employee Credit Cards

Generous Credit Line

Rewards Programs For Buying Office Supplies

Gas Rewards Program

Customizable Cards

Cash Back Rebates

The various programs mentioned above are just a few which are currently being offered to small businesses by card providers such as Advanta, American Express, Chase and Discover Card. Apart from these programs, credit card companies also put at your disposal, a whole range of other products and options which allow you to tailor your card in such a way that meets your specific needs.

An additional perk of having a business credit card, is that many of the card companies will provide you with a dedicated agent upon approval of your application. This agent is then at your disposal should you ever require any assistance with specialized business solutions. This, together with the ability to track all expenses 24 hours per day, is something all small businesses can take advantage of.

Whether you opt for a Visa Card or whether you choose MasterCard, it's essential that you take the necessary time to familiarize yourself with the terms and conditions just as you would with any personal credit card. Also, be advised that full fraud and theft protection is not something which is optional, but as most will agree your business deserves this much at least.

Did you know that the majority of small businesses fail and go out of business within three years? Surprisingly enough in the majority of cases it is financial instability which is to blame and not a poorly thought out business plan. While having a small business credit card won't make your business bullet proof it will certainly improve your chances of success.

Taking into consideration that credit card companies also stand to benefit from your success it's hardly surprising that companies such as Chase, Capital One, American Express, Advanta and Discover Card want to see your business become successful. This alone is reason enough to understand why having a business credit card can be so beneficial to a small business.

Of course, you're more than likely wondering what's on offer? Well, first of all you can earn cash back. Additionally you can accumulate air miles, you could benefit from rewards earned from gas purchases as well, not to mention all the other benefits such as reduced hotel rates, discounts when eating out at restaurants and even cheaper car rentals.

Having 24 hour access to your account for the purpose of tracking expenditure is essential to any small businesses which for the most part are running on a tightly controlled budget. Likewise, if some of your employees have been issued cards it's also vital that you should be in a position where you can keep tabs on their expenses. Above all else be sure you compare cards before you apply.

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