It’s always nice to have a slush fund. This is especially true when you’re running a business. Business credit cards offer you a revolving line of credit that works exactly like that of your personal card. The difference is that the business credit card is attached to your company. In some cases, there may be no connection to your personal credit at all.
In many cases, companies can qualify for credit cards based on the corporate credit rating alone. If your company is too new to qualify or has had financial difficulties, the lender may require you to personally back the loan. If you personally back the business credit card, your assets will be at risk in the case of a default. If this is the case, getting a business credit card can still be a good idea since paying their bills on time can improve your corporate credit rating as well as your own.
The general rules for keeping business credit cards in good standing are the same as for using personal cards. Avoid making impulse buys, always pay the bill on time and have a plan for how you’re going to use the card. Having a plan helps you keep track of your spending and resist the urge to add extra items to your orders. This way, your bills won’t slowly creep up to such a point that you get overwhelmed.
Even though using credit must be done responsibly, a credit line is still a great thing to have. It can allow you to make emergency purchases, cover expenses or simply add a lot of convenience to your business life. Flashing a card is fast and doesn’t require you to cut a check for everything you buy. For this reason, many businesses have credit cards even if they are capable of paying for everything in cash.
To get the business credit card funds to suit your needs, try our lender matching service. Here at UnsecuredBizLoan, we deal with many lenders so it’s almost certain that you’ll be able to find one that’ll offer you the credit card you’re looking for!
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