ADVANTAGES OF HAVING A
BUSINESS CREDIT CARD
A Credit Card is used for
two purposes: one is the convenience it
offers of buying now and paying later or
in instalments and the second reason,
though used by a very few people, is to
make it easier for them to track their
expenses. This becomes all the more
important when you need to distinguish
between your personal expenses and the
money that you spent for the company you
are working for.
Several employees find
themselves in bad situations because
they mix their personal and company
expenses by swiping with the same credit
card and then 2 months later they don’t
remember how much they spent for a
business meeting with their clients. The
“business credit card” will make sure
that you don’t have to be in such
situations.
There are several reasons
why you should have a business card. The
most important being: they will save you
a lot of time by avoiding confusion and
they will decrease your difficulties at
the time of paying tax.
However, like with all
types of credit cards you should do
sufficient amount of research before you
choose the provider of your “business
credit card”. Some of the major benefits
of the “business credit card” include:
-
Personal and business expenses are
segregated which is more convenient
for you.
-
The “business credit cards” provide
more flexibility than the business
checks.
-
The “Big Boys” in the business will
provide discounts to the card
holders.
-
They allow taking of balances
forward.
-
You will get other benefits like
zero – liability features and travel
insurance.
-
Most small businesses use these
cards for convenience and also
image.
-
These “business credit cards” can be
personalised to suit their
businesses.
-
The payments can be made quickly and
without the need of paper documents.
-
These cards don’t have limits and
most of them need full payment of
accounts every month.
But these “business
credit cards” can cause a lot of trouble
for you, if you give it to the wrong
employees or if you yourself misuse it.
The high degree of convenience may also
lead to its overuse which results in
overspend.
Most of the companies
track all the expenditure of these cards
of all the employees and give a very low
limit for an employee who is over using
the card.
The bottom line is small
businesses and corporations will greatly
benefit by issuing the business credit
card. It will help the small businesses
more significantly as they cannot waste
their available capital. Therefore, the
“business credit cards” allow them to
make the employees accountable if they
spend the company’s money, thereby
saving a huge amount of that much needed
capital.
It is always recommended
to consider the APR percentage while
making the choice of the provider of
your business credit cards. Buy the one
which offers you the best balance of the
APR percentage and card holder perks.
You will greatly benefit from these
cards.
Contact
one of our helpful account
representatives to assist you in the
setup of
a
high risk merchant account or
offshore merchant account for a
high risk merchant. |