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Business credit cards are readily available today and offer many excellent benefits to entrepreneurs. If you’re still using a personal credit card for your firm, here are some reasons signing up for a business credit account might make a big difference.

1. Keep Business and Personal Accounts Separate

Using a personal credit card to help fund a startup company may be a necessity at first, but once a business gets established it’s better to keep things separate. While the strength of your business credit may be affected by your personal credit, it doesn’t have to work the other way around. Getting a business credit card can help your improve your firm’s credit score and protect your personal credit from any business mistakes depending on the card terms. Plus, it’s much easier to stay out of trouble with the IRS if your business and personal accounts are easy to differentiate.

2. Get Higher Spending Limits

Business cards are designed with the needs of companies in mind, specifically that they may need to make large purchases, whether on a regular basis or not. Most business credit cards carry much higher spending limits than personal cards, with many firms regularly carrying balances of up to $25,000.

3. Customize Your Terms

Because businesses don’t always have a consistent income, some business credit cards offer flexible payment terms including options to defer payments when business is has an off-month. Business cards can also be issued for specific use by certain employees, with owners being able to customize where and how much money they can spend.

4. Earn Rewards

Most business credit cards these days offer rewards programs. Some cards give you cash back on certain types of purchases, other give you discounts on business-related services like office products and hotel charges. Some even give you access to things like premier airport lounges if you do a lot of traveling. The perks and rewards of these programs can often offset the cost of any annual fees.

 


Search for Small Business Loan Sources and receive your matched lender list
AND received FOUR free Business eBooks worth $39.95!
Search for Small Business Loan Sources