Friday, August 10, 2012

Features and Benefits of Business Credit Cards

Owning a business requires making various purchases for supplies and other needed items. Making any type of purchase will be easier if you have a business credit card. There are many benefits to the use of a business credit card to make purchases that you need.

Track Spending
One feature that is beneficial to a business is the ability to track spending. A monthly statement shows a business their individual expenses and total spending for each month. You will not need to calculate the totals for each purchase as all the information is provided on the statement. A business expense report is sent to each card holder every month.

Separate from Personal Credit
Credit that is extended to a business is not ties to the personal credit of the business owner. This means that the credit for a business is issued based on different factors. Transactions on a business credit card will not affect the personal credit history of the business owner.

Positive Credit
Obtaining a business credit card will help to build positive credit for a business. A positive credit raring will aid a business if a loan is needed from a lender in the future. Positive credit implies that a business can be trusted by a lender. This is credibility that allows a business to expand and grow. Money may be more easily borrowed from lenders and from investors.

Reward Options
Most business credit cards offer some type of rewards program. Making needed purchases on cards that offer rewards means that they may build up fast. Reward programs may include discounts on purchases made for certain supplies, cash back, travel miles, and other types of rewards. Choose from the rewards programs that are available from a variety of credit cards before applying.

Employee Trust
Allowing certain employees to make purchases on a business credit card leads to increased trust. This is a great way to show appreciation and to delegate business functions to employees. You are able to give one or more employees authority to purchase business supplies or inventory that is needed for the business.

Track Employee Spending
Monthly statements that are provided by lenders allow a business owner to track employee spending. A statement can include categories of spending so you can see any non-authorized spending. You can also see if you have exceeded a monthly spending limit.

High Credit Limits
Business credit cards will often have higher credit limits than a personal credit card. A higher limit for a credit card used for a business allows greater purchase options. Many purchases made by a business are often expensive and can typically be paid back faster.

Ease of Use
Credit cards that are available to a business makes purchases much easier. A business owner can use the credit card online or over the phone. There is no need to write a check or pay cash. Transactions will be processed much faster than other payment methods.

Special Features
Insurance protection for travel and automobile rentals may also be available on these credit cards.

The articles of Ethan Grunt have been proving very useful for the customers who look forward to get information on business credit cards. He suggests them to visit for further information.

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