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Beat The Credit Blues With American Express Blue For Business
By creditwisdom
Plastic rules. 90% of all small business owners have realized this and make use of card convenience on a day-to-day basis. According to a survey of small business card holders, which was released by SurePayroll in April 2007, small business owners are far more circumspect than the average personal card consumer in managing their card accounts. However, there is more to managing cards than simply paying on time. Optimizing your business' cash flow and minimizing your interest payments are also important considerations. We will use the American Express Blue for Business card as an example.

Optimize your Cash Flow with American Express Blue for Business
Optimizing cash flow entails buying as much time as possible between receiving goods or services and paying for these goods or services. To achieve this, you could typically negotiate with a supplier to pay them within 30 days of receiving their invoice, instead of 15. Then, when their payment falls due, you could pay the invoice with your American Express Blue for Business card. Your American Express Blue for Business card offers a 25 day interest free grace period from date of purchase. If you pay the amount on your American Express Blue for Business card on the last interest free grace day, you will effectively have enjoyed 55 day terms on the goods or services you received. This should have a positive impact on your cash flow.
Minimize your Interest with American Express Blue for Business
Introductory Period
For new customers, American Express Blue for Business offers a 0% APR on purchases for the first twelve months. This means that your business will bear no interest burden, even if you need to carry a balance during this period. In addition to this, you can effect balance transfers at a 4.99% APR that will apply for the life of the balance. This exceptionally low interest rate on the American Express Blue for Business card makes it perfect for consolidation purposes.

Line of Credit
Paying the full balance on your American Express Blue for Business card, or any other card for that matter, is and remains a good practice. Having said this, small businesses do need extra cash from time to time: a big customer might make a late payment or an unforeseen breakage could deplete the last of your cash reserves. Whilst the American Express Blue for Business card offers a very low interest rate 11.24% APR on purchases, cash advances come at a hefty 23.24% APR.

Fortunately, there is an alternative option: the American Express Business Line of Credit. This line of ($10,000 to $100,000) is only available if you hold an American Express



business card, and was designed to offer small business owners the flexibility needed when trying to grow a business. This add-on to your American Express Blue for Business card comes at a 10.24% APR – even on your cash requirements. If you access the line of with your American Express Blue for Business card, you will still earn your reward points.

To conclude
The business card is an indispensable financial tool. If wisely managed and if the underlying benefits are effectively employed, it could become a sustainable and cost effective source of working capital for your business.

Article Source: http://www.articlemap.com

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