A business credit card is similar to a regular consumer credit card in many ways. The card comes with an interest rate and may have a rewards program associated with the card, such as a percentage cash back on certain purchases. The card can also vary in terms of interest rate, annual fee and other fees.
Business credit cards can come with a defined credit limit where the business owner can pay a minimum payment each month, or the cards can have no credit limit with the caveat that the entire balance must be paid in full each month. Regardless of the specific details of the card, having access to one can be very beneficial for a business.
When unexpected expenses crop up, or there is an urgent need for some equipment or other item vital to the business, a business credit card can offer quick cash to capital. Instead of applying for a loan and then waiting to see if it gets approved and funded, you can cover those extra business expenses with the credit card and your business can keep on operating without a hitch. If the card you are using happens to be a rewards card, then you get the bonus of earning a little cash back or other benefits for the business.
Business credit cards do have to be repaid, just like with a normal consumer credit card, which is why they should not be used for personal expenses or everyday expenses. Leaving the available credit limit untouched will ensure that the money is available for you to use when it is needed the most. Through responsible use of the cards, you can also build up the credit profile of the business, which can benefit the business when applying for loans or for credit terms with vendors and suppliers in the future.
To apply for funding for your small business, use the form on the right to begin the application process.
For more information, go to Business Credit Card at http://www.unsecuredbizloan.com/business-credit-card