Business Credit Card Reviews


Personal Vs Small Business Credit Card

Credit cards seem to have become a fad today. Almost everyone has a personal credit card today (a lot of people have more than one credit cards). Though most of the people use personal credit cards for what they are really meant for, some are unable to decide on when to use which type of credit card.

So is there a difference in terms of what credit card – Personal or business, you use for what transactions?

The answer very clearly is ‘Yes’.

Some people use their personal credit card for paying the bills of the small business they run. However, this is not what you should be doing. Personal credit cards are meant for just personal expenses and the business credit cards just for business expenses. So unless you want to utterly confuse yourself and spend hours together on sorting out business and personal expenses, you should not create this confusion in the first place. This confusion is very easy to avoid and just requires some discipline on your part. Just use your small business credit card for whatever spends you do for your business and the personal credit card for the personal expenses.

If you feel that getting the business expenses segregated is not much of a problem and you would rather use just your personal credit card, you need to re-consider using a small business credit card. This springs from the fact that the small business credit cards generally carry a lower APR as compared to the personal ones. So it makes more sense to make your business spends on your small business credit cards. Moreover, the small business credit cards also carry a reduced or no annual fee on them.

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Related Article:
Know the Advantages of Credit Cards for Small Business

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Business and Corporate Credit Cards

by: Noreen Ruth

Credit card companies have developed a variety of cards with businesses in mind with lines of credit starting at $50,000 or more. To help you understand the different options and to help you avoid the confusion of terms and details, we provide some helpful information.

Small Business Credit Cards

Credit cards for small businesses are offered to the general population through advertisements on the Internet or as pre-approved invitations you receive in the mail. These offers are more ‘what you see is what you get.’ Granted, you can shop around for the business card offer that best meets your needs but there is little customization offered. The owner’s name is found on the front of the card.

The responsibility for paying the credit card debt for small business credit cards lies with the business owner. If the account is defaulted on, the negative results will impact the personal credit history of the owner.

Corporate Credit Cards

On the other hand, corporate credit cards are not as readily available through the mass media. These cards are targeted to a specific group, organization, or corporation and can be highly customized. The reason for this increased flexibility comes down to revenue. With the potential of millions of dollars in transactions, corporate card holders are given much more say in how their accounts are set up.

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Related Article:
Grow Your Small Business by Establishing Corporate Credit

Small Business Credit Card Management – the effective way

Proper usage and management of small business credit cards will lead you and your business to maximize the great benefits it offers. Discover and learn from this article.

Small business credit card is a good way of building your business credit. Proper management of the small business credit card will turn to an effective business tool to help small business owners grow their businesses. It also strengthen your credit standing, thus it is very useful for additional financing for growth or expansion purposes. Misuse of your business credit card has the potential to destroy your business and dreams. Follow these small business credit card tips to effectively manage your credit.

Avoid missed or late payments
Be responsible for your monthly business credit card payments. Failure to comply the payments can leaves you vulnerable to higher interest, costly fees and a blemish on your credit record.

Use Grace
Small business credit cards offer a 21-day grace period before you have to make payment on your purchases. Improve your cash flow using a credit card instead of checks and also, by maximizing your grace.

Pay your bill online
Paying online through business credit card companies website can saves time and avoid the extra costs normally incurred when making use of other modes of payment. It is a secured website and they ensure that your payments will not be subject to delays.

Limit Card Hopping
Truly when signing to multiple business credit cards gives you advantages on deals but it has a negative impact on your credit rating and managing you accounts can be difficult.

Apply at Home
Always consider applying for your small business credit card at your existing financial institution. This way, you can establish good relationship for the easy approval for other process.

No Cash Advance
Always keep in mind that by not using cash advance feature on your card can reduce credit card fees and interest costs.

Check out our Business Credit Card Comparison: Business Credit Card Online