Most people are aware of the advantages of having credit for personal use, and actually, many people already have one or even more cards in their purse or pocket book, but when it comes to commercial charge cards, you may think that only large corporations which have employee expense accounts and make lots of purchases need one. However, business credit cards make sense for the small business operator as well, because if an emergency does show up, then you will have the funds open to cover it, as well as for benefiting from opportunities for expansion or growth. Although businesses can get credit based upon the history from the business itself, cards are generally issued based on the the owner's personal credit background. This may come in the type of a separate account or as a credit line that is attached to your financial institution debit card. Over time, if your credit bills are paid promptly, you will be able to begin a new credit identity for your business and finally,
be able to apply and be approved for charge cards, loans or lines of credit based on your business' credit history. Although small business cards are based on the credit history of who owns the business, or one of the actual partners, they do not necessarily need to be issued in the name of the dog owner. They will bear the name from the business on the card, and as a result, you can add employees to the account as signers and obtain them their own business credit greeting card. This works well for managers which are often responsible for business purchases, or for fuel in case your company employs drivers. Many businesses make use of receipts and petty cash instead, but a company credit card is much more handy. Business accounts work much in exactly the same way that personal ones do. Some might have a payment structure and an ANNUAL PERCENTAGE RATES, in which a minimum payment should be made each month, and others will have to be paid off completely at the finish of the gr
ace period. Generally, the annual fee for business credit is a bit higher than personal ones, but not high as to be prohibitive, and frequently the annual fee is waived for that first year, as companies attempt to allow you to choose their commercial card over other people. Small business credit cards also usually have reward programs built in that are created specifically for business. Some cards offer cash return bonuses for using the card, yet others give you points to spend on business purchases that may include airfare, hotel and rental vehicles, as well as buying products that the business uses daily such as workplace supplies. Some cards even offer benefits for example no APR for the first 6 months or year, or allow you to earn an unlimited quantity of reward points. Chase and American Express are simply two companies that offer small company cards.
To research and make an application for highly recommended business credit cards within the American market, visit the United Says Prime Rate website at FedPrimeRate. com. To research and make an application for highly recommended balance transfer charge cards, visit the BalanceTransfer. cc website.
View this post on my blog: http://creditcard.valuegov.com/credit-cards-for-all-small-business/
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