When starting a small business, there are a lot of details to think about. How big of an office do I need? Should I get a second cell phone just for the business? Do I really need a business credit card when I already have three personal ones? This article won’t help you answer the first two questions, but without a doubt, you should apply for a small business credit card right away.
Keep Finances Separate
Possibly the best accounting decision that you can make from day one is to keep your business and personal finances separate. Even if you have half dozen personal credit cards, you really do need a business one. However, one is all you need starting out. It will simplify your records greatly if you just have one bill to pay and one place to check when you need to find out how much you paid to have your website designed or other business expenditures. Plus, you can get additional cards for your team members to use for business expenses. By keeping your personal and business accounts separate, you don’t need to worry that they’ll wreck your personal credit if they make bad decisions.
Establish Business Credit Record
If you don’t already have a small business line of credit, then opening a small business credit card will help to establish a credit record for your business. In order to open your new card, your personal credit may be checked, but once your business has its own history it will be easier to get loans or a small business line of credit for future purchases and business expansion.
Get Spending Perks
The phrase “frequent flier miles” is often thought of when you hear about credit card rewards, and for good reason. Most credit cards offer airline miles as part of their rewards program, but you can also use points or miles for other rewards. Need to take a client out to dinner? Redeem your points for a gift card to a nice restaurant. Want to buy new office furniture? Use your points.
There you go, three of the top reasons why you need to open a small business credit card. Don’t delay in applying. The sooner you apply, the sooner you can use it to simplify your business and earn rewards.
For more information, go to Business Credit Card at http://www.unsecuredbizloan.com/business-credit-card