Why Use Credit Cards on Your Business

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many 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 » Why Use Credit Cards on Your Business

Why Use Credit Cards on Your Business

By
Add to Favorites:

Credit cards are not only used for household consumption but also by businesses now. As a matter of fact two out of three small to medium businesses are now using credit cards. While you can use your personal credit card on your business, it still is best if you use a separate card for this purpose.

But what benefits can you get from business credit cards? Using credit cards on your business will prevent you from having co-mingling with your personal and business expenses. This is a good way in preventing some tax discrepancies when filing for your tax. An organized financial management gives the IRS an impression that you are a responsible businessman and tax payer at the same time.

Using credit card on businesses can help build a good credit thus giving more possibilities of improving and expanding the business. A huge amount of money could be needed with your plans of expansion and with a properly managed business credit card, you can apply for business loans to finance your expansion. Not only will you enjoy instant approved loans but also low rates or even a possible zero percent interest rate.

Business credit cards can save you from a tedious and stressful job of filing all the transactions dome for the whole year. Instead of you doing it, your credit card provider will do the expenses itemization for you. You save more time and you get a more accurate summary of all your business expenditures.

Like personal credit cards, business credit cards also provide rewards to its users. Rewards that ay range from office supplies, business software programs or discount phone services; this is a big savings especially for starting up businesses.

There are times when employee spending aren`t monitored or controlled closely but with the use of a credit card, spending is easily controlled.

Credit cards can do a lot for your business provided that you know how to manage then and not intentionally use then for personal use. Talk this out with your bank representative. Have the full knowledge on how it works and what are the other principles that go with the card.

Using business credit cards shouldn`t be mismanaged. Remember that it will be your business which will be compromised. This is something you would never want to happen. If you feel like this is the kind of help you needed then you`ve got your bank to advice you.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How the Fed Rate Rise Impacts Credit Cards

How the Fed Rate Rise Impacts Credit Cards

By Credit-Land, Posted: May 25, 2017

Recently, the Federal Reserve hiked its benchmark rate by a quarter percentage point, as a result, you could see a rise of the interest rates on your credit cards by 0.25%. That was the first hike of the key rate in 2017 and the Fed ... Continue reading
Top 5 Credit Card Offers For Those With Excellent Credit

Top 5 Credit Card Offers For Those With Excellent Credit

By Credit-Land, Posted: May 25, 2017

Do you have excellent credit? If so, banks are actively looking to win you as a new credit card customer by offering some unprecedented deals. Although banks have been more careful about acquiring customers with questionable credit ... Continue reading
Interest Free Credit Cards: Pay No Interest Until 2019

Interest Free Credit Cards: Pay No Interest Until 2019

By Credit-Land, Posted: May 23, 2017

Carrying a balance on a credit card is wasting your money on interest fees. It is easy to avoid interest payments on purchase transactions by paying off the entire card balance by the due date each month. But what to do if you are already ... Continue reading