If you have a small business, money management is important. A business credit card is about more than just having credit. There are many reasons to obtain a credit card for your business. Understanding the benefits of these cards can help you make the best decision for your company.
A business credit card account helps you establish a solid credit history for your company. After a few months of consistent use and reliable payments, you will see an increase in your company’s credit score. This is especially useful when you are establishing a new business that has no current credit history. Once you establish a positive credit history, you can easily obtain small business loans or other funding for expansions and other needs.
Using a business credit card for your company’s regular purchases gives you a single location that tracks all of your business transactions. Financial reporting is easier when your transactions are all in one place and part of a monthly statement cycle. Using business credit cards for purchases also gives you the evidence necessary to support business expense deductions to the Internal Revenue Service.
Likewise, business credit cards typically allow you to get separate cards for employees. This helps you keep track of your employee spending. Save time spent auditing expense reports and sorting receipts by using credit card statements from each employee to support the figures.
Most company credit cards include purchase and fraud insurance to protect your company in the event of a problem. When you use your company card to book travel, you may receive travel insurance that protects your company’s assets on the road.
When you choose the right card for your company, you can earn rewards that save you money on things you would be purchasing anyway. Some credit cards accumulate points or cash back that you can redeem for office equipment and supplies. Other companies give corporate discounts at a wide variety of retailers. If your business demands extensive travel, choose a card that grants you airline miles, hotel discounts or similar benefits.
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