If you are the owner or operator of a small business, you know how important it is to be in control of how your money is managed at all times. Whether you have to pay for an unexpected business expense or simply need to know where your money is going each month, a business credit card can help you stay in charge of your finances. If you don’t yet have a small business credit card, you may be missing out on some perks that could significantly benefit you and your business.
Tracking Expenses – Small business credit card accounts provide an easy, all-in-one access point for tracking your monthly business expenses. Instead of spending your time constantly balancing your business checking and savings accounts, you can resolve to pay all of your expenses with your business credit card, then pay off the balance at the end of each month. This not only saves time, but it also provides a useful way of tracking your expenses each month from a single account statement. Furthermore, credit card account statements and tracking is available online for years, which could cut down on your paperwork.
Reward programs – Like personal credit cards, business credit cards offer reward programs that can save you cash. For example, if you or your employees take occasional business trips to conferences or meetings, your business credit card usage throughout the year can earn you miles or points that are redeemable for airline travel, hotels stays and car rentals. Similarly, if you have company vehicles for which you pay for frequent fuel expenses, you can disburse company fuel cards to each employee, which could earn cash back or a discount when used at certain fuel locations.
Build Startup Business Credit – If you have recently started your business, you will want to establish a business credit history as soon as possible. Although you may have previously used your own credit to start the business, it is wise to keep the two separate going forward. In other words, if you need to get a loan to expand your business in the future, you’ll want to get a loan against your business and not in your own name. Unfortunately, few lenders will loan money to a start-up business without an established credit history. However, by getting a business credit card, you can begin building a reputable credit history that can help you secure bigger credit lines in the future.
Separates Business from Pleasure – One of the biggest temptations faced by business owners is the integration of personal and business accounts. While it may seem convenient, it is never a good idea. A business credit card can help you successfully separate your business expenditures from your personal expenditures to prevent confusion and a lack of funding in your personal or business accounts.
For more information, go to Business Credit Card at http://www.unsecuredbizloan.com/business-credit-card