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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
The Benefits of Carrying a Business Credit Card
Do you have a business credit card? Are you interested in applying for one of these in the near future? Have you thought about the pros and cons of carrying at least one of these?
In your personal life, you may not have any need for a credit card. In fact, you may avoid this because it’s gotten you into trouble in the past.
However, in the business world, you may come to find that applying for a business credit card, chase business credit cards for example, is one of the smartest financial moves you can make.
Before you decide if this is right for you, you’ll want to learn more about the benefits of carrying a business credit card. Once you have this information, it’s much easier to decide what to do next.
So, with that in mind, let’s examine five of the top benefits:
1. Convenience
Are you tired of paying cash for all your purchases? Have you come to find that using a debit card is a pain in the neck?
If so, you need to learn more about the convenience of a business credit card. With one of these, you don’t have to worry about running out of cash. Even better, you don’t have to worry about carrying too much cash with you (especially when you travel).
There is always the risk that you will spend more than you can comfortably afford to payoff at the end of the month, but you can learn to avoid this.
2. Earn Points for Every Dollar You Spend
There is nothing better than getting something in return for the money you spend. A business credit card puts you in position to do just that.
Once you know the ins and outs of your business credit, you can then search for the perfect rewards card.
Tip: no two reward credit cards are the same, so don’t hesitate to compare three to five offers. This is the best way to protect against making a poor decision.
3. Online Account Access
There is nothing more important than keeping a close eye on your spending. If you neglect to do so, it’s possible that you could face a large amount of debt at some point in the future – and that’s not a place you want to end up.
In today’s day and age, every business credit card offers online account access. This gives you real time information on your spending, points, fee schedule, interest rate, and much more.
Tip: search for a credit card that also has an online app. This makes it much easier to stay current while you’re on the go. All you need is a smartphone in order to take advantage.
4. More Than One Cardholder
In addition to yourself, you may want to add another cardholder to your account.
For example, you may find that your CFO needs a business credit card as well. By linking this person to your account, he or she can have their own card to make purchases.
Even better is the fact that you can track what they’re buying, which ensures that they don’t abuse the power.
5. Easier to Shop Online
Let’s face it: more people than ever before are shopping online. If you’ve come to find that this is best for your business, you’ll want to make life as simple as possible when it comes time to make a purchase.
Using a business credit card allows you to shop online with ease. All you have to do is enter your credit card information and submit your payment.
Tip: you can also track your internet purchases through your online account, ensuring that you don’t overspend.
Final Thoughts
These are just a few of the many benefits associated with a business credit card. As you learn more about these, as well as any others that you dig up, you may come to find that now’s the time to find the right offer.
If you’re ready to move forward, take these basic steps:
- Create a list of what you’re looking for in a business credit card
- Make note of the best three to five offers you have come across
- Learn more about the eligibility requirements and application process
What are your thoughts on carrying a business credit card? Is this something you have been doing for many years? Is this something you’re going to experiment with in the months to come? Share your thoughts and personal experiences in the comment section below. Your feedback can help other business professionals choose the perfect credit card.
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