Business Credit Cards
By Mario Churchill
It does not make good business sense to use a personal account for your business expenses. cards designed for business use include features that benefit the businesses they serve. Having separate cards also makes the accountants lives easier.
One of the features business cards is employee cards. These are cards that charge that draw funds from the business account but are issued in the employee names. This allows each employee to pay for gas, office supplies, hotel rooms and air plane tickets without having to use their personal card and file an expense report. Most cards provide these employee cards for free (sometimes there is a limit.)
Business cards often offer a grace period of normally twenty to twenty-five days. This is an interest free time frame. This gives most businesses some breathing room while they wait for the accounts receivables to catch up with the accounts payable.
Business cards allow employers to transfer the balance from other loans onto the card. Since most of the cards have a zero percent interest rate during the introductory period the employers are basically able to pay some loans off, interest free.
If a business is involved in an industry that requires a lot of travel they will be able to cash in on some of the great travel incentives the cards offer. This feature adds up if you are constantly flying employees from one side of the country to the other.
Like their personal counterparts business cards often feature cash back rewards for each doller spent. The difference is that the business card offers the cash bonus on things offices use, like paper, staplers, and paper clips.
There are some important things to consider when shopping for a business card.
Look for the lowest annual percentage rate. It is possible to find cards with interest rates as low as eight percent. On the other hand some have interest rates as high as nineteen percent.
Pay careful attention to the annual fees. Most cards wave the annual fee the first month but after the introductory period some cards charge a fee as high as one hundred an fifty dollars. They claim
that this fee is a maintenance fee.
Look for a card with a generous grace period. The longer the grace period the longer you have to come up with the available revenue.
Consider the cards balance transfer policy. Is there a way to make it work for you?
Does the card offer cash advances?
Is the company’s customer service department one that you can work with? There is nothing quite as frustrating as a miscommunication between you and the company.
It doesn’t hurt to consider the Advanta card. This particular company specializes in business cards only. Without having to worry about pleasing the masses they are able to focus on what businesses really need in a card. This company offers free APR for the first fifteen months, before it changes to the stunningly low rate of seven point nine percent. Five percent cash back or travel rewards. Zero fraud liability, and no annual fees.
Mario Churchill is a sales person and website owner. He manages a website, www.usa-credit-card-guide.com where you can find the best credit card offer for your needs and apply for a card
