Many business are leasing more towards having their own credit cards, customers tend to use them more than they might with their own cash. A business credit card would allow you to purchase items on the card and then later pay them off, the difference between business cards and credit cards is the fact that credit cards can be used anywhere, and business cards can only be used at the business it is specified for.
What are the advantages of having an business credit card?
Many businesses offer different status among their card holders, like Silver, Gold, and Platinum. Each tier has certain requirements as well as certain rewards for such, like a gold card holder may get an additional 10% of where as normal card holder would not. Not to mention if you use your business credit card and keep a revolving balance on it, it helps build your credit the whole time.
Are there other types of business cards available?
Businesses sometimes offer a small business credit card, for those up and coming new business that need their own credit card. This allows a business owner to buy products online or anywhere else and the bill goes directly to the business rather than an individual. The same advantages will most likely apply when they are different status on cards, a business may possible get free products if a certain amount is spent, or points towards rewards like this.
So are they worth it?
Business credit cards are well worth the time and effort to apply. You know when those holidays come up, or those forgotten birthdays. Well now you have a way to get a gift and build your credit as well. The revolving credit also helps build your credit as long as you pay some of the bill every month. For small business owners it is well worth having, instead of having to keep up with every receipt you ever had, you can always just refer to your credit card bill, makes accounting a lot easier. …Read more