One of the most underused types of business facility, and the one not given full recognition, is the business credit card. Although larger businesses use the business credit card to a large extent, smaller companies have not quite grasped how useful it could be to them yet. Although a business credit card has more requirements and has higher interest rates compared to other types of credit cards there available; contrary to common belief, it can be very helpful if used properly.
For a person just starting his own company, there are obvious advantages and the ability to have better financial control. Cash flow is important for any business but young, recently created companies are often cash starved after all the costs in starting the business so the business credit card can alleviate some of these headaches.
Although it is not necessary, a trip to your bank might be worthwhile to allay any concerns you may have in applying fro a business credit card. If your business cannot afford the time for you to go to the bank then why not use the internet only application forms which are generally quick and easy to use. After all, you no longer have to physically go to the bank to apply for a credit card, business or otherwise. I cannot remember the last time I actually saw my business account manager as I mostly carry out my company finances online. Making the application from your office at your own convenience can make all the difference as all you need to do is provide your precise needs when you use the online service. Familiarity with online banking should mean you will know exactly how easy it is to operate and your business banking will be no different with pretty much the same facilities available.
Just to get you moving and show how easy it is, many business credit card suppliers allow new card owners free services for a set period, usually a year, so finance charges and other fees including the spending limit, may be waived. If you are familiar with credit card customer loyalty schemes then you won't be surprised that your business credit card can also be used in the same way to help reduce the cost of merchandise, services and travel for instance. Some of these business credit cards offer small businesses a line of credit up to 100,000 dollars at a competitive APR for both cash and check purchases. For a set period the customer may also have the benefit from a zero fee checking account as well. To attract new companies, special offers and incentives are commonplace.
Although the majority of the business credit card issuers offer great value deals, it is very important to research first what your business needs. Business credit cards can be used for many different aspects of your business but only you will know exactly what areas are best covered. If you are confused there are a number of options try using one of the many credit card comparison site that specializes in business cards.
