Banks and financial institutions offer credit cards that are especially designed for small business owners. If you’re an entrepreneur, have you considered getting a business credit card?
Recent surveys show that many business owners are still skeptical about using
credit cards for business. The Los Angeles Times report in 2006 that less than 5% of the $4.9 trillion business expenses were charged to credit cards or debit cards. Credit card companies try to encourage small business owners to apply by offering rewards and other attractive features.
More Business Credit Card Options
Examples of popular
business credit card rewards include Airline Miles Rewards, Frequent Flyer Rewards, Gasoline Rewards, Hotel Rewards, and Cash Back Rewards credit cards. There are business credit cards that offer flexibilities in redeeming points so entrepreneurs can choose from cash, gift check, or free travel.
Other features that are exclusively offered in business credit cards are extended warranty and purchase protection, travel insurance, auto rental insurance, emergency cash replacement, emergency card replacement, discount privileges, free supplementary cards for employees, yearly account summary and downloadable account reports.
Benefiting from Your Business Credit Card
Yes, credit cards for business can be great tools in managing your small enterprise. But bear in mind that enjoying the most benefit from it would also depend on how well you handle your card. Start by making the right choice. Find a card that complements your business style. Don’t forget to consider all the costs and fees associated with your chosen business credit card.
Use your business credit card wisely and make it a habit to pay off your monthly charges in full to avoid the extra interest rate cost and prevent the risk of debt build up. Timely and consistent payment will ensure that you will build an excellent business credit.
