Have you recently started a new small business but haven’t opened separate bank accounts and credit cards? If so, you are creating a disaster waiting to happen when you get around to doing your accounting and taxes. Many new business owners think it’s simpler to just use their personal credit cards and accounts for their business expenses, but this isn’t true in the long run. Yes, it may be easier to just get one credit card bill, but which expenses were business related and which ones weren’t? Having your spending records all in one place is just one of the benefits of having a business credit card.
Another benefit to having a credit card solely for business use is that you’ll have access to a higher line of credit than you would if you were to use your own cards. Banks tend to have higher limits for businesses since they know that a business’s budget is significantly higher than a personal one. Some cards also have very low interest rates, which is a great advantage when you are starting out and might not have the money to pay for all of your expenses in one month. Remember to try to pay as much off as possible since the payment will be reflected on your business’s credit history.
If you thought that only people had a credit history, think again. Your business has one, too, and it’ll need a good credit history in order to get a approved for a mortgage, car loan or a new credit card. The best way to start your business’s credit history is to open a card right away and use it responsibly.
If you have employees who need to make business-related purchases outside of the office, you’ll make them happy if you make them authorized card users. They won’t have to pay for things out of pocket and wait until the next payday to get reimbursed.
Finally, by choosing a business credit card with a good rewards program, you’ll be able to earn all sorts of useful gift cards, gifts and trips. Redeem your points for a car rental when you attend an out of state conference or take your team to diner to celebrate a successful deal. Get started simplifying your business records, building credit and earning rewards by applying for a credit card today!
For more information, go to Business Credit Card at http://www.unsecuredbizloan.com/business-credit-card