Business Credit Card Reviews

The Good Thing About Small Business Business Credit Cards to Business Owners

What is the Good Thing About Small Business Credit Cards to Business Owners?  Applying for a small business credit card? Check first what are the essential factors to look for in a business credit card, through this article.

If you are a small business owner, perhaps you’ve been thinking of ways on how to establish a credit history for your company.  One of the best tools available for you is a small business credit card.  In this article, let’s discuss why small business credit cards are good for small business owners and the factors that you should look for in a business credit card.

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Use Your Small Business Credit Card to Effectively Manage the Business

Entrepreneurs today are encouraged to use credit cards as tools to manage their businesses more effectively. If you are a business owner, have you considered applying for your own small business credit card as well? What are the advantages of using credit cards for business? Consider the following benefits:

Separate business from personal expenses. Why is it important to separate your business expenses from your personal finances? For a new business, it may not seem like a big deal if you are combining these two finances together. However, as the business expands and more expenses are incurred, you will see how important it is to have a separate business account.

Making financial decisions would prove to be very difficult and confusing if there is no clear boundary between your business and personal finances. In addition, filing your taxes would mean more work since it would be harder to distinguish which of your expenses officially qualify for tax deduction and which ones do not.

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How Businesses Can Build Credit with Business Credit Cards

Whether you are running a big business or have just started up with your own small business, building credit for your company is probably one of your main concerns. Business credit cards offer entrepreneurs the chance to establish a separate credit history for their business.

By establishing good business credit, a business owner is also building a strong foundation for the company. When the time for expansion comes, it will not be difficult to secure a loan approval from lenders and other business financing providers. In this article, let’s talk about how business credit cards can help you grow your business and build credit.

Enhance your credibility. Using business credit cards to make your payments builds up a more respectable image for your company. Having the name of your company printed on your business cards surely adds up to your reputation. Some business credit card issuers today offer the option to use checks through a business credit card account. That means, the entrepreneur can send checks to pay suppliers or vendors who do not accept credit card payments. This is a great feature that some business credit cards offer.

Ease of use. Business credit cards provide a convenient solution when emergency expenses arise. For example, if one of your equipment broke and has to be replaced, you do not have to stop your production just because you don’t have the cash on hand to fix or replace a broken device.

If you receive an exceptionally large order from one of your best customers, you don’t have to refuse because you lack the resources needed to produce such a large demand. A business credit card allows you to make purchases easily and pay them at a later time.

Convenient accounting and bookkeeping. Keeping financial records of the business is one of the most important steps in maintaining good credit. Your business credit card helps you keep track of all your business expenditures without having to do it manually. Most business credit cards come with a free online access where you can personally check your account, download your accounts summary and use it in your accounting.

Safer means of payment. Business credit cards are safer to carry around than cash. This is invaluable since most of the time businesses need to make large amounts of purchases and it’s not practical to carry a bulk of cash. In case the business credit card gets misplaced or lost, one can call the bank right away and freeze the account to prevent unauthorized transactions.

Incentives and rewards. Businesses can also take advantage of the incentives and rewards that business credit cards offer. Because entrepreneurs usually charge large expenses in their accounts, they can easily gather enough points to earn more rewards.

A separate business account. Even for home based business owners, having a business credit card is advised because it helps them separate their personal funds from their business finances. This is an indispensable feature especially as the business begins to expand and acquire more customers.


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Beware of Business Credit Cards Online Resources

Are you aware of phishing scams? If not, this article is for you. Let’s discuss how phishing is committed and what you can do to protect yourself against it.

One of the most common techniques used by scammers today is “phishing”. If you’re not familiar with this term, it’s time to make yourself aware of this technique to avoid being a victim.

Phishing Scams and Credit Cardholders
First of all, what is “phishing”? Phishing is illegally acquiring personal information from another person through the internet. It is done using e-mails and false websites where an unsuspecting internet user enters his personal details or bank information without realizing that the source of the email or the owner of the website is a scammer. This method has been practiced way back in the early 90’s yet it has become more advanced in our time today.

Expert identity thieves would often “copy” or ”duplicate” a legitimate company’s website and use it to deceive customers into providing their banking information. The website will often look very similar to the original that consumers who are not aware of this scam is easily tricked and scammed. Sometimes an e-mail will be sent that contains links to these “fake” websites so that when the user clicks on them, he will be directed to the scammer’s site.

Online Business Owners – Beware!
Phishing Scams affect not only consumers but business owners as well, especially those with online businesses. Because of online fraud and identity theft, many consumers are hesitant to make transactions online.

The Federal Trade Commission is vehemently against such crimes related to online fraud and stolen identity. FTC encourages all consumers to be cautious when giving away their personal information especially over the web.

Although most credit card companies accept applications online, everyone is warned that not all websites can be trusted. Before filling up any type of online application, see to it that you are dealing with a reputable company. Check their status from Better Business Bureau. If it is a fraudulent company, chances are it will have record of complaint from its clients. Nevertheless, just because it doesn’t have record of complaint doesn’t mean you should easily trust the company. Do more research about its background and track record.

Be sure that the site uses a secured server. A secured site can easily stand out from “bogus” sites if you know the signs to look for. First of all, the URL of the website should begin with https:// which is a standard protocol for secured sites. You should also look for pad lock icon on the bottom right of your browser. Make sure that this icon is locked that indicates security.

Lastly, remember that banks and legitimate financing institutions will never as you to re-enter your personal details for confirmation. If you receive such an e-mail, don’t respond to it. Instead, call your bank and personally ask them about the e-mail you received. The best protection is to always be aware of how you provide and use your personal information. Keep in mind that fraud and identity theft is always a looming possibility and it is up to you to stay on guard and save yourself from becoming a victim.

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Using Business Credit Cards as an Essential Tools for your Small Business

Every credit cards made especially for every type of business. Business Credit Cards had been proven as an essential tool for a small business. What are the advantages you can get? Let’s find out how.

For small business owners and home based entrepreneurs, the benefits of using business credit cards are too many to be neglected. Consider the following advantages as to why business credit cards are essential tools for every small business.

Manage business expenses more easily. Having a business credit card enables you to separate your personal and business spending. Business credit card issuers also send monthly billing statements as well as quarterly and yearly summaries. Thus, you can easily keep track of where your business funds are spent and use control where it’s needed. These features are especially indispensable as the company begins to expand and expenses start to grow.

Free up your cash flow. It is crucial for a business to have a solid financial resource at all times. A business credit card comes in handy especially when emergency expenses arise. For example, let’s say that you received a large order from a customer at an unexpected time. Even if you don’t have the cash, you can charge to your credit card all purchases that are necessary to deliver the order on time.

Distribute your funds easily. Business credit cards also provide a more convenient way of distributing funds to your employees with the use of supplementary cards or extension cards. If cash is needed in a hurry, there’s no need to go through the long process of requesting for petty cash and wait for approval. Instead, an employee can charge the expense to his extension credit card that is linked to your account. To ensure that the funds are used strictly for business purposes, every purchase is reflected in your monthly billing statement so you can keep track of your employee’s spending.

Manage your account online. Most business credit cards come with an online banking feature which gives the business credit card holder the option to access his account through the internet. This way, you can check your account and send payments at any time straight from your own computer. Any entrepreneur can surely appreciate this convenience.

Get rewarded from your expenses. Many credit cards for small businesses come with rewards. Reward programs vary from travel rewards, gas rebates, and cash backs so you can choose the exact type of program that best fits your business. Enrolling with the right kind of business reward credit card can bring you huge savings and incentives from your spending.

Build your business credit. After registering with a business credit bureau, the only way to build a separate credit history for your company is to acquire new accounts. To build your business credit history, you can choose to apply for a business loan or a business credit card. Once you’re approved for a business credit card, pay attention to how you use your credit limit and how timely you are in submitting your payments. Remember, if you want to enjoy an excellent business credit, you must never exceed your credit limit and you should always pay off your credit card charges on time.

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# Small Business Credit Cards

Choosing the Right Credit Card for Your Small Business

Applying for a business credit card is a serious task since choosing the wrong one could mean trouble for you and your business. What important pointers should you remember when looking for a business credit card? How can you be sure that the credit card matches the needs and spending style of your business? This article provides practical advices to help you make the right choice.

Understand how the Interest Rates and Costs are calculated. First of all, it is crucial that you understand how the rates and fees of your business credit card are calculated. How much APR applies to your purchases, balance transfers and cash advances? Some cards have more than one APR so you need to be clear about it. How much is the annual fee, late penalty fee, transaction fees, and other charges? Don’t be content with what the ads tell you. Instead, take the time to study the Terms and Conditions of your credit card. Examining the contract would enable you to compare business credit cards more accurately.

Pay attention to the features of the business credit card. Certain features may not be available in some business credit cards. For instance, not all credit cards for business provide an online account access. This feature is very important so you can regularly monitor your account without hassle. Do you need to distribute supplementary cards to your employees? Some credit cards provide this feature for free while others don’t. There are also business credit cards that give you the option to send check payments using your account. This is recommended if most of the suppliers you purchase from do not accept credit card payment. Consider the specific services that are provided by the credit card and choose the one that best matches your business.

Read reviews and get feedbacks from other business owners. What do other business owners say about that particular small business credit card? Check out credit card review websites and take the time to personally interview your fellow business owners. If your business belongs to an organization, why not ask your co-members for feedbacks or recommendations?

Check your personal credit report. If you’re a new business owner who have not yet established a corporate credit, the approval of your business credit card application would be based upon the status of personal credit. Business credit cards with the best deals would require good to excellent credit. Therefore, in order to qualify, you should make sure that your personal credit history is in good standing. If not, take the necessary steps to improve your credit and raise your score before submitting your business credit card application.

Consider small business credit cards with rewards. If you’re certain that you can pay off your monthly balances in full, consider applying for a small business credit card with rewards. Reward credit cards may come with higher APR but if you completely pay off your balance on time, you won’t have to pay the additional interest. A reward business credit card gives you the opportunity to enjoy savings, bonuses and special privileges that are exclusively offered to small business entrepreneurs like you.

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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