When you anticipate making business purchases you won’t be able to pay for all at once, a business credit card is one of the most flexible ways to fund the purchases. You get to use the credit card to buy what you need when you need it, then make anywhere between the minimum payment and a payment of the full balance when the bill comes. This flexibility is one of the top reasons why every business owner should have at least one business credit card. Here are some of the top benefits to look for in your card.
First, pay attention to the interest rate offered on business credit cards. This is the main factor that affects how much it will cost you to use the card, and lower interest rates can save you hundreds, or even thousands, of dollars in the long run.
Second, consider whether the credit card has an introductory promotion. Many business credit cards offer lower interest rates on purchases or balance transfers at first. If you plan to use the card a lot right away or transfer the balance from another card, this can be a significant perk.
Third, look at the cash advance features on a business credit card. Some cards allow you to take a cash advance to use on anything in your business, from payroll to fixing a piece of equipment that broke. These are great for paying expenses that you can’t put on a credit card.
Fourth, consider whether the business credit card has a rewards program. Maybe you can earn points good toward discounts at stores your business uses frequently or for traveling for business. Cash-back rewards programs are great too.
Lastly, consider the credit limit you’re offered on each card. The higher your limit, the more potential you have to borrow. However, high limits can tempt you to accumulate a lot of debt on your business credit card.
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