Finance Your Small Business with Business Credit Card

The biggest challenge to most start-up businesses today is how to get financing. After all, a majority of banks, credit unions, and even commercial lenders are hesitant to extend lines of credit to enterprises, which have been operating for less than two years. Moreover, if your business is yet to build its credit reputation then, things can prove to be more difficult for you and your commercial establishment.

Good thing that more and more credit card firms these days are providing excellent credit deals even to first-time business owners. In fact, if you will take the time to check out what they’re offering; you may soon find a business credit card that will surely suit the needs and financial capability of your enterprise.

But how can you make one work to the advantage of your start-up business venture? Let’s find out.

Charge purchases today and pay later. Do you need to purchase a particular supply or equipment but you don’t have enough cash to pay for it? In this case you can use a business credit card to make the purchase right away and pay it back in cash by the end of the month or defer your payment. Many credit cards offer zero introductory rate which means you can spread your payments in a couple of months without incurring additional interest rate charge.

Keep track of your business expenses. Whatever you charge to your business credit card will be reflected in your account so you can check it at any time. Aside from the monthly billing statements, business credit card issuers also send detailed account summary reports which can be used as reference while doing your annual inventory and filing your business taxes.

[Article: Smart Guide in Comparing Business Credit Card Deals]

Build business credit. As a new business, building business credit history is an important task. Using a business credit card enables you to accomplish that in a more convenient way. As you Wait for your business loan to get approved, you can start using your small business credit card for your expenses and build up a solid credit rating for your company.

Get rewarded for your purchases. You can get a business credit card that offers a reward program that complements your business and spending needs. This way, as you enjoy the convenience of using a credit card, you can also get rewards, incentives and perks. Most small business reward credit cards are also affiliated with business-to-business suppliers and vendors so you can get exclusive discounts as well.

Simplify the process of releasing funds. If you have employees, you can distribute employee credit cards which are connected to your account. This way, official business expenses can easily be charged to your account without having to go through the time-consuming process of filing a request for cash and waiting for approval before cash is released. All employee expenses will be reflected in your bill so you can check each transaction made.

[Article:  How to Manage Business Credit Cards Successfully ]

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

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