Archive for business credit card

Jul
02

Why You Need a Business Credit Card

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A business credit card is an easy solution to many issues that may arise in business.  Here is a list of the top three facts you need to know about utilizing a business credit card rather than using a personal one of your own.

Keep Bookkeeping Easy

Owning a business credit card makes keeping track of business expenses simple.  You are able to see exactly where money is being allocated.  Use this information to make a business budget.  Examine the expenditures, and find ways to cut costs accordingly.

Decide Based Upon Rewards

Be smart when choosing a business credit card.  Do comparison-shopping and select the one with the best rewards.  Cash back is always a good deal.  Do not choose one with airline rewards if you don’t travel much for work.  Determine which card would be most beneficial to your business and select it.

Pay On Time

Do not wait to pay your bills.  It will start to pile up and might get your business in a sticky situation.  Instead, pay the entire bill each month before or on the due date.  Never pay late.  There are too many penalties and late fees that add up.  And the interest rate alone will get you into trouble.  Avoid these complications from occurring by paying it on-time and in full each month.

These are great advantages to utilizing a small business credit card, but when funding is short do not rely solely on business credit cards.  Look into a small business loan or a business cash advance.  For more information about small business funding, talk to a professional today.

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Apr
02

Credit CARD Act 2010 Benefits You

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Law Enforces Credit Card Debt Protection

Hiked interest rates, overspending, and not paying bills on time are causing consumers to go into credit card debt.  It is a national issue affecting millions of families across the nation.  However, there is finally a bit of relief in sight.  The Credit CARD Act passes this month, easing the pain of some of the most common factors striking up credit card debt amongst citizens.

Credit Card Rate Tricks Put to a Halt

The Credit CARD Act protects consumers in ways unknown or unforeseen by credit card users.  For instance, credit card companies used to send the monthly bill a few days before it was due to those whom paid the bill in full every month.  The reason is f the consumer receives the mail a tad late or does not have a chance to return it before the due date, then the credit card company hikes up the interest rate, tacks on late fees, and makes lots of money.  It is a terrible practice, which credit card companies implemented each month.

With the Credit Card Act, credit companies no longer allowed to conduct business in such a manner.   For the new law states, credit card companies must send the bill at least twenty-one to fourteen days prior to the due date of the bill.  This is a huge change in business.  It helps many people from receiving late penalty fees.
If you are in need of financial relief, talk to a small business loans expert today.   A professional will be able to guide you in the right direction ensuring your business is not hit by financial trauma due to debt accrued through business credit cards.

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Dec
28

Business Credit Card Advice

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Credit CardsNo matter how large or small a business may be, there are always business expenses.  There are office supplies, employee expenses, travel costs, client meetings and dinner bills.   The spending compiles quickly causing business owners to search for an answer regarding how to track expenses, pay for bills, and manage the money.  An effective tool to solve such business cost issues is through a business credit card.

A business credit card breaks down expenditures by categories aiding an owner in monitoring where the money is going, but what every business owner should first engage in prior to selecting a credit card is research annual fees.

Choosing a card with no annual fees is the best option, but if it is not possible shop around for a credit card with a minimum amount of fees.  It will save money in the end.  Furthermore, consider what other services and benefits do the cards offer.  For instance, is there a rewards program with cash back on the credit card with no annual fees or does the card with annual fees offer more rewards making it worthwhile after all.  You need to make comparisons before finalizing your decision.  Do the research and breakdown options before deciding on which business credit card is best.

Another important aspect to remember when selecting a business credit card is the interest rates.  Interest rates make a huge difference when judging which credit card company to choose.  Many cards offer a 0% APR promotion for new cardholders, but read the fine print.  For the interest rate after the initial period may increase significantly.  Thus, be thorough when picking a credit card for your business.

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Categories : Credit Cards
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