Facts about business cards that make a difference - Products News

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 » News » Products » Facts about business cards that make a difference

Facts about business cards that make a difference

The content is accurate at the time of publication and is subject to change.

As the holiday season has come to an end, and businesses are going about in their usual manner, we have stepped into the New Year, but there has been nothing worthwhile that has happened with respect to the economy. Small businesses are still going through a rough time and business owners will have to take note of every possible way they can take advantage in trying to improve their businesses and make this year a bigger success economically compared to the last year.


There are many ways that one can improve their businesses and one way to do it is to use the right type of credit card to fund their small businesses. Until now, people have believed that the business spending must be charged on the small business credit cards due to some simple naming conventions. However, as per the new credit card laws, all of this are not exactly true.


There are certain protections which make the consumer credit cards a safer option. As per the new rules, consumers will have to be given a 60-day notice period by the issuers before imposing any increase in interest rates on the existing balances. These rules are not applicable to business credit cards.


The interest rates on business credit cards can be changed without notice to the customers, and the changes could also be applied to the existing balances although it might have been incurred at the previous lower rates. Hence, if the executive at the credit card company decides to hike the interest rates in order to increase the profits for the company, which is a common practice, there is little one can do as. At times such as these when the stability with cash flow and a consistent awareness of debts are so essential for small businesses, this could be a dangerous proposition. Since there are no rules against the use of personal credit cards for small businesses, one could use the personal cards especially if there are expenses that will result in having a balance by the end of the month.


Most small business owners have the misconception that the business credit cards provide better protection than the personal cards, and they think that liabilities like delinquencies and defaults will be assumed by the companies if they are on a business credit card.

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:

Related News:

With The Chase App Cardholders Can Send Gift Cards
With The Chase App Cardholders Can Send Gift Cards

Posted: April 19, 2019

Have you ever wished you could just send a gift card to someone easily and quickly? If so you might want to check out the new feature Chase has added to their app letting users do just that. With the Chase App cardholders can not only… Continue reading

Getting 100,000 Bonus Points with the Marriott Bonvoy American Express Credit Card
Getting 100,000 Bonus Points with the Marriott Bonvoy American Express Credit Card

Posted: April 17, 2019

If you have the Marriott Bonvoy American Express credit card you might want to head over to the website to register your card so you can pick up an extra 100,000 bonus during the year. How does it work? It is fairly simple. Continue reading

Refer a Friend for the Chase Sapphire Preferred Credit Card and get 15,000 Points
Refer a Friend for the Chase Sapphire Preferred Credit Card and get 15,000 Points

Posted: April 15, 2019

People with the Chase Sapphire Preferred Credit Card can now get 15,000 bonus points if they refer a friend – and the friend is approved. What’s even better is that they can make up to five referrals which would let them bank an extra… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Introducing the New Citi Rewards+ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap
For Excellent, Good Credit
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
For Good/Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!