Business Credit Card
November 2nd, 2007 | by admin |
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Business Credit Cards
What To Look For In Business Credit Cards
by: Morgan Hamilton
Everybody needs credit and it is no different for a business. When establishing a businesses credit the first step is usually to get a business credit card. Business credit cards often differ from credit cards for personal use. It is good to know the difference between personal and business credit cards, as well as what to look for in a business credit card. Your businesses credit is as important, if not more than your personal credit, so knowing as much as you can about it is essential.
Knowing the difference between business and personal credit is the first step to getting a business credit card. Most card offers you get will be based on your personal credit and just have your business name on them. What this means is your business name will just get added to your personal credit report and this card will report to your personal credit. You will not be building credit for your business. In order to figure out if the credit offers you are getting are like this or not is to see what credit agency they report to. The business credit agencies are: Dun & Bradstreet, Experian Business, Equifax Business, Business Credit USA. If they report to anyone else then it will be based on your personal credit. You should ask if they have a business card you can get. This will allow you to build your business credit.
Besides starting a business credit report a business credit card can help your business with other things. You will be able to keep business and personal finances separate. You can track your business purchases easily and have a nice detailed record of everything you buy or pay on your credit card in your monthly statements. The biggest benefit of all this will come at tax time when you do not have to sort through a mixed mess of personal and business paperwork.
Other things to look for in a business credit card are similar to what you would look for in a personal credit card. You should compare fees and interest rates. You should also consider how you will use it and any benefits offered by the credit card company. It is important to shop around and look for the card that will work best for your business.
A business credit card can be great for both you and your business. You can begin to build a credit history for your business and keep your finances organized. To get the most out of a business credit card you should always make sure it is reporting to the business credit agencies and is separate from your personal credit record. You should shop around for a card that has good fees and will suit your business. Looking for a business credit card is a lot like looking for any other credit card, but it is important to remember it is for business not personal use.
About The Author
Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting http://www.getqualitycreditcards.com/categories/airline_frequent_flyer_credit_cards.
This is not a substitute for professional financial advice. Seek the guidance of a finance professional if you need help with financial advice.
3 Responses to “Business Credit Card”
By samule on Nov 10, 2007 | Reply
Good Job Morgan
Very Interesting site……
Every one who are purchasing for credit card should look for the following…
0% Annual Percentage Rate (APR)
Low Interest Rates
Credit Limit
Getting a credit card is it’s a first step to building credit while in college. Credit card companies have seemed to develop a passion for
giving college kids student credit cards.Compared to regular credit cards, a student credit card is issued to students that usually have no previous credit history.Student credit cards have low credit limits because they are designed for expenses like books, stationery and other
expenses a student is expected to encounter on a daily basis.
I’ve seen one more site which gives the complete overview about credit cards….
http://collegesoup.net/financials/student-credit-cards
For more information , Check out the site…..
By alex on Dec 13, 2007 | Reply
very good Morgan,you’re right about most of this offers.They just using your personal credit but just have your business name as front/
By James Roberts on Jun 27, 2008 | Reply
I agree you should never PG a BCC unless it a must. Business owners should find blogs like yours to help them on find the correct card for the small business owner.