Advantages of business credit cards

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cards for Business » Advantages of business credit cards

Advantages of business credit cards

There is a growing demand for business credit cards in the market because these cards are easier to obtain as compared to the line of credit. In the past, there were hardly any credit card lenders who issued these plastic cards exclusively for businesses. But, considering the current demand in the market for these cards, almost all major card lenders in the United States have interesting offers for small business entrepreneurs. The demand for small business credit cards is fueled by the advantages it offers these entrepreneurs. Here is a quick look at few benefits they get to reap.

Prevents co-mingling

When you run a business, it is important to keep your personal transactions separate from business transactions. Using your personal credit cards for business purposes can have an adverse impact on your credit rating. It can also make the process of filing for taxes difficult and create other money management issues. Availing business credit cards will prevent co-mingling and help overcome all the other related problems. The IRS considers entrepreneurs with business credit cards as responsible people who are serious about their business.

Higher credit limits

Credit card lenders offer higher credit limits on business credit cards. The deals and offers on these cards are also different from the ones for personal cards. Though the credit limit offered would depend on the business, it will definitely be higher than the limit on your personal credit card.

Better book keeping

When you run a business, it is important to keep track of all the expenditure incurred. Spending from various accounts can make this task very challenging. However, using business credit cards for all payments simplifies the process of bookkeeping significantly. You need not worry about making a separate note of the expenses since you can easily avail the monthly transaction record from the lender and file it for further reference.

Establish business credit

If you want to be considered a strong market player, you will have to establish a good business credit. There is no better way to do it than with the help of business credit cards. A good business credit will help you with your expansion plans since lenders will not hesitate in offering business loans and lines of credit.

Unique rewards

The rewards offered on business credit cards are different from that of the personal cards. Though most cards in this segment offer travel rewards, there are also cards that offer discounts on office supplies and cash back offers that can work in favor of your business.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Top 5 Cards for Travel from Our Partners Winter 2017/18 – Expert Choice

Top 5 Cards for Travel from Our Partners Winter 2017/18 – Expert Choice

Posted: December 8, 2017

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Cash Back or Travel Rewards? Here’s How to Decide On The Right Card

Posted: December 1, 2017

If you're trying to find the perfect rewards credit card, you might feel like you're drowning in options. There are just so many out there, and many of them look similar. This can make it tough to decide on a card. One thing people often ... Continue reading
Credit Card Tips For Holiday Shopping 2017

Credit Card Tips For Holiday Shopping 2017

Posted: November 27, 2017

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading