If you are the owner of a small business, you need a business credit card regardless of whether or not you need access to a line of credit. Sure, business credit cards can provide you with quick capital in case of an emergency, but you may not know that there are other resourceful ways of using a business credit card to your company’s advantage.
Tracking Business Expenses
Chances are, you have multiple business expenses. As your business grows, the amount of money you spend each month will probably increase as well. Unless you employ a full time accountant, keeping track of those expenses can present a real headache. Business credit cards offer one-stop business expense tracking from a single account.
Instead of balancing the checkbook every day and documenting every expense, you and your employees can charge all of your expenses to a single account that you can pay off each pay cycle. You will accumulate little or no interest, and your credit card statements will reveal exactly how your company is spending money.
Making Money Off of Credit Cards
Credit card companies are in business to make money, but the only way they make money is by getting business owners to charge more and pay off less. If you are responsible with your spending and repayment habits, you can get cash back or travel rewards on the purchases you make. Depending on the rewards program on your credit card, your business may be able to earn as much as three percent cash back on everyday spending. Other rewards include free flight tickets and discounts on fuel at certain gas stations.
If you need help finding a business credit card or other sources of funding that meet your small business needs, UnsecuredBizLoan.com can help.
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