If you have a small business, and you use cash, checks or your personal credit cards to make purchases for the business, you are missing out on many benefits that you would get if you used a business credit card instead:
1. Keep your business and personal expenses separate. Having separate personal and business credit cards makes recordkeeping easier. You’ll appreciate the separate records at tax time, when you don’t have to sort out all your expenses from the statements from a single card. Having all your business expenses on one card also means that you are less likely to overlook items that you may be able to deduct from your taxes.
2. Earn rewards. Most business credit cards have reward programs where you can earn points to get items that are useful for businesses, such as airline mileage and office supplies. If you use cash, checks or a non-rewards personal card for your business purchases, you are missing out on rewards that could be yours.
3. Get a higher credit limit. You may be able to get a higher credit limit with a business credit card than with a personal credit card. A higher credit limit will be very useful when you need to buy equipment or other high-ticket items for your business.
4. Get cards for employees. If you have any employees now or plan to hire any in the future, you can get extra cards for your employees to use. Giving employees credit cards on your business account is a good way to keep track of what the employees are spending.
5. Establish a credit history for the business. If you use your business credit card wisely and make your payments on time, you will create a good credit history for your business. A good credit history will make it easier to get business loans in the future.
You may also get a psychological boost from having a business credit card. Using a business card can make you feel more authentic as a business owner.
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