CREDITCARDS - BUSINESS
WELCOME TO "YOUR BUSINESS CREDIT CARD WEBSITE"!
by: Debbie Dragon
With more than 600,000 new small businesses started each year,
it's safe to say that the dream of being a successful business
owner is a strong one. If you are considering starting your own
business, or are already the proud owner of a business- here are 7
reasons why your small business needs a credit card:
1. Keep your personal finances and business finances separate.
It's easier than you think to accidentally mix up your funds. Using a
credit card that is used only for your business expenses and
purchases eliminates the problem of labeling every transaction in
your personal checkbook or on your personal credit card
statements at the end of the month.
2. Build credit in the name of your business. If you obtain a credit
card in your business name, the more you use it and make on-time
payments, the stronger you will build the credit score of your
business. After several months of building a good credit history,
you may be able to obtain small business loans or other sources of
financing if necessary.
3. Get stuff for free. There are numerous rewards programs with
credit cards. If you choose one that works for your business, you
can easily earn the things you usually buy for free. For example,
some rewards credit cards offer you a way to earn office supplies
at a discount. The key to making a rewards program successful is
to choose one with no annual fee and pay your balance off in full
each month. If you travel regularly for business, it would make
sense that you get a card with travel rewards- either earn miles
towards free flights, or get free or discounted hotel rooms.
4. Easy record keeping. Owning a small business means you are
allowed to deduct certain purchases on your taxes, but only if you
have good records to prove you've made those payments. A credit
card with an annual, itemized statement will make tax season a
snap, regardless of the number of transactions you've made on
your card.
5. Additional credit cards for employees. As your business grows,
you may find the need to allow key employees within the
organization the ability to make purchases or pay for business
expenses on your behalf. Most credit card companies will allow
you to obtain additional cards in other people's names. Your
transaction listings and statements will show which credit card
made each purchase, allowing you to see at a glance whether the
employee use of credit is being abused or not.
6. Concierge services. Depending on the credit card you choose,
you may benefit from additional services like reservation
assistance, verification of flights, and even a personal shopping
service. Did you forget to get your wife flowers for your
anniversary? A quick call to your credit card concierge service and
they can make the arrangements for you.
7. Travel benefits. In addition to the potential to save money on
travel costs with a credit card rewards program, most credit cards
offer travel accident insurance that helps cover you for things like
lost luggage or flight cancellations.
With more than 600,000 new small businesses started each year,
it's safe to say that the dream of being a successful business
owner is a strong one. If you are considering starting your own
business, or are already the proud owner of a business- here are 7
reasons why your small business needs a credit card:
1. Keep your personal finances and business finances separate.
It's easier than you think to accidentally mix up your funds. Using a
credit card that is used only for your business expenses and
purchases eliminates the problem of labeling every transaction in
your personal checkbook or on your personal credit card
statements at the end of the month.
2. Build credit in the name of your business. If you obtain a credit
card in your business name, the more you use it and make on-time
payments, the stronger you will build the credit score of your
business. After several months of building a good credit history,
you may be able to obtain small business loans or other sources of
financing if necessary.
3. Get stuff for free. There are numerous rewards programs with
credit cards. If you choose one that works for your business, you
can easily earn the things you usually buy for free. For example,
some rewards credit cards offer you a way to earn office supplies
at a discount. The key to making a rewards program successful is
to choose one with no annual fee and pay your balance off in full
each month. If you travel regularly for business, it would make
sense that you get a card with travel rewards- either earn miles
towards free flights, or get free or discounted hotel rooms.
4. Easy record keeping. Owning a small business means you are
allowed to deduct certain purchases on your taxes, but only if you
have good records to prove you've made those payments. A credit
card with an annual, itemized statement will make tax season a
snap, regardless of the number of transactions you've made on
your card.
5. Additional credit cards for employees. As your business grows,
you may find the need to allow key employees within the
organization the ability to make purchases or pay for business
expenses on your behalf. Most credit card companies will allow
you to obtain additional cards in other people's names. Your
transaction listings and statements will show which credit card
made each purchase, allowing you to see at a glance whether the
employee use of credit is being abused or not.
6. Concierge services. Depending on the credit card you choose,
you may benefit from additional services like reservation
assistance, verification of flights, and even a personal shopping
service. Did you forget to get your wife flowers for your
anniversary? A quick call to your credit card concierge service and
they can make the arrangements for you.
7. Travel benefits. In addition to the potential to save money on
travel costs with a credit card rewards program, most credit cards
offer travel accident insurance that helps cover you for things like
lost luggage or flight cancellations.
7 Reasons Your Small Business
Needs a Credit Card
Needs a Credit Card
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |