If you have a small business of less than 500 employees, you may want to distribute credit cards to some of your associates to purchase items for your company or pay for business expenses. How do you pick the right business credit card? We’ll discuss that a bit, in today’s article.
First, if we are talking about a business credit card to give to your employees, you’ll want a great, real-time tracking system with a granular view of all the spending. The provider should allow you to set filters, limits, and alerts that work for all cards or for individual ones, where necessary.
Essentially, you need to be able to know what your employees are spending money on, where they are spending it, and how much they are spending overall. Through online software you should be able to set filters to flag for certain types of items. One meal for under $20 seems reasonable, but what about one over $50? There may be reasons for this type of spending, but you should know about it, at any rate.
Also, you will want to reap the same benefits you’d get from any other personal credit card. In addition to cash-back cards and rewards cards, there may be some rewards that make more sense for your company. For example, there are certain cards that will save you 5% on all rental car fees. If your employees need to rent cars quite a bit (for example, with sales people), this can be a bigger cost savings than 1% cash back.
For more information, go to Business Credit Card at http://www.unsecuredbizloan.com/business-credit-card/