SMALL BUSINESS CREDIT CARD: A NECESSITY FOR BUSINESS MANAGEMENT

2007-03-08 10:33:40

( Business )



Are you still using your personal credit card to finance your business short-term expenses? Good news to business owners who are looking for accessible source of working capital! Small business credit cards are now available from various credit card companies specifically designed to cater to the needs of small businesses.

How to Qualify?

Businesses that filed two years of tax returns and operating profitably are generally qualified to apply for a small business credit card. The business owner's company rating is also given equal importance in the approval.

Benefits to the Business

Choices among Competitive Rates

Market rates for small business credit cards are competitive inclusive of monthly fees, transaction fees and quota fees. Thus, business owners can choose across various products and dealers.

Bookkeeping Services

Using a small business credit card allows you to keep track of your business transactions which helps in simplifying your bookkeeping process. Many credit companies provide a year-end summary statement of all your transactions by item and category. This assist small businesses in the processing of their tax payments.

Lower Business Expenses

Special rewards and discounts are provided for small business credit card users. Flexible Rewards Visa, for instance, are points garnered and redeemed for choices of travels, cash, merchandise or gift certificates. These items further help lower business expenses.

Improve Cashflow

On the other hand, the usual grace period of twenty one days for payments helps business in their cashflow management compared with issuing checks which has a quick bank clearing. With the grace period, businessmen will have reserve cash for emergency expenses that cannot be covered by the services of a small business credit card.


Like any other financial instrument, prudent use of small business credit card is necessary for the benefit of your business. Let it be a tool to efficiently manage your business, as well as a window to build a good business credit.


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