Why Your Business Needs a Business Credit Card
A business credit card is similar in most aspects to a regular consumer credit card. They have a similar application and approval process, the same rules apply about paying interest if your card has a balance, and they also affect credit ratings in very similar ways.
These business cards can offer low interest rates, different rewards programs, online account access and services that support you, the business owner. Their credit limit is often higher than a consumer's credit card.
Most businesses don't have a credit history on their own, so the owner's credit history is checked during the application process. So if you want a card for your company, make sure that you have fairly good personal credit. This means that you will be personally guaranteeing the company's credit line.
A business credit card is an excellent tool for managing the expenses of your small business. They allow you to easily track the spending of business funds, and let you keep track of employee spending habits.
Quarterly and annual reports of spending is normally included with a business card. This helps you see where your money is spent throughout the year and even allows you to compute future budgetary needs.
Business credit cards often times have rewards programs, very similar to what consumer credit cards offer. The main difference is that with the business cards you generally have rewards options that are tailored to then needs of the business or the entrepreneur.
A good tool to use in keeping track of expenses and managing growth of your business is a credit card. When it comes to choosing the right one for your business, you have to be careful to choose one that fits your business needs and offers maximum benefit.
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 business cards can offer low interest rates, different rewards programs, online account access and services that support you, the business owner. Their credit limit is often higher than a consumer's credit card.
Most businesses don't have a credit history on their own, so the owner's credit history is checked during the application process. So if you want a card for your company, make sure that you have fairly good personal credit. This means that you will be personally guaranteeing the company's credit line.
A business credit card is an excellent tool for managing the expenses of your small business. They allow you to easily track the spending of business funds, and let you keep track of employee spending habits.
Quarterly and annual reports of spending is normally included with a business card. This helps you see where your money is spent throughout the year and even allows you to compute future budgetary needs.
Business credit cards often times have rewards programs, very similar to what consumer credit cards offer. The main difference is that with the business cards you generally have rewards options that are tailored to then needs of the business or the entrepreneur.
A good tool to use in keeping track of expenses and managing growth of your business is a credit card. When it comes to choosing the right one for your business, you have to be careful to choose one that fits your business needs and offers maximum benefit.
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 Advanta business credit card with her company and realizes how powerful of a tool they are. Get more information about getting your own Citi business credit card by visiting her website.
posted by Credit Counseling at
6:32 AM
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