Credit Cards for a Small Business
A Credit Article Contributed by Mark Mcclelland
Should I Get a Small Business Credit Card
In a word, yes; if you want to help your business grow you should definitely score a business credit card. You're certainly aware of how important good credit history is in your personal life... well the same goes for your business, but in spades. Establishing good credit for your business is of paramount importance, and wise use of a business credit card is one sure way to do that.
But you shouldn't rely on your business credit card for keeping your business in - well - business. It should be used sparingly, for emergencies, or a backup. If used wisely wise, and you make timely and consistent payments you can easily help build the kind of credit history that your business can use help fund it's future growth
How Would Having a Business Credit Card Help My Business
There are a veritable cornucopia of ways to use your business credit card effectively, without risking everything. For one, the card can be used to provide backup security for unexpected events. All businesses have things come up that would be much easier to deal with if you had access to credit.
Having to dip into your cash reserves might impact your ability to meet your payroll obligations, but being able to use some of your credit to take care of these problems might just keep the production lines rolling. In addition, if you use it to make office and business supply purchases you might just discover that your bookkeeping tasks got a bit easier to complete since all these would be consolidated onto your monthly credit card statement.
Now-a-days it's actually extremely difficult to buy anything on line without a credit card, as most Internet based business won't accept checks, cash, IOUs or anything but a credit card.
Where Should I Look for a Small Business Credit Card
The key here is to shop around a little before you decide. Browse the various offers advertised on the Internet. There a loads of them, with a potful of options available. Low interest rates, reward programs, purchase discounts, and cash back options are only the tip of the iceberg here. It certainly shouldn't be hard for you to find one that fits your financial and your company's image to a T. In addition, there are cards that can be pre-printed with your business name, ensuring that the inevitable paperwork has - at least - the correct business name. .
The best offers are likely to come from either American Express or Advanta as these two companies offer cards that are designed specifically for business use. They both offer a variety of cards offering different reward packages, fee schedules, and interest rates. Whatever business credit card offer you accept, the card is likely to come with an extremely attractive interest rate, a relatively high credit limit and probably a package of benefits that simply isn't available to mere consumers... all to the benefit of you business
