One of the keys to business success lies in sufficient
capital: you need it to get through the fluctuating times
of your small business. Business credit cards can help
smooth over your financial needs. A recent survey showed
that 90% of small business owners use a business credit
card. Here are just a few of the many ways a business
credit card can help you manage your finances.
Access to Funding. Finding sources of funding can be a
challenge when starting a new business. A business credit
card allows you easy access to a line of credit. The credit
limit for business credit cards is usually higher than
personal cards.
Many business credit cards, including the Platinum Business
Credit Card from American Express and the Chase Platinum
Visa ® Business Card, offer 0% APR introductory rates.
These rates last for a few months, and sometimes for up to
a year. This can help jumpstart your business. It allows
you to make initial purchases and cover start-up costs
until revenue begins to flow in. If you pay off the balance
during the 0% APR period, you essentially enjoy the
benefits of an interest-free loan.
Cash Flow Solutions. Besides providing initial funding, a
business credit card allows you to extend cash flow. You
can purchase supplies with the credit card. This way you
can keep cash in the bank, rather than using it to buy
goods. As you receive cash from customers and clients, you
can pay off the credit card balance
While using the card, remember to pay off the balances in a
timely fashion. After the introductory period, the interest
rate that is used will be higher than many other loans.
Also, with a business credit card, unlike a corporate one,
you are personally responsible for paying off the debt. By
tracking purchases and setting up a payment schedule, you
can avoid running into credit card debt.
Extra Bonuses. Business credit cards offer small companies
a wealth of benefits. If you want a customized touch, look
for a card that will include the name of your company on
it. As your business grows, you can add employee cards.
Some companies let you set credit limits on employee cards
and receive monthly reports on their spending.
A business credit card will help you track expenses.
Monthly and annual statements show how much you have spent,
and some will even categorize items. This enables you to
quickly review how funds are being used.
Many business credit cards offer rewards programs. You may
want to receive 5% cash back on purchases, or accumulate
points that can be redeemed for travel bonuses and other
rewards.
As you consider which credit card will work best for you,
look at your business and its needs. A rewards program with
airline miles is perfect if you travel frequently. And if
you simply want more cash on hand, look for a cash back
program.
Whatever you are looking for, chances are you will be able
to find it in a business credit card. View your business
credit card as one of the financial tools for your
business. Use it as a source of funding to get started and
help manage the business. Then reap the additional benefits
and rewards it sends your way.
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To View Business Credit Card Offers click the following
link: http://www.credit-card-surplus.com/business.php . Ed
Vegliante runs http://www.credit-card-surplus.com , a
directory helping consumers to compare and apply for credit
cards.
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