Business Credit Cards

Do you run a small business or are you thinking about starting a new business?

If yes then…

Business Credit Cards may be a wise choice for you.  Business credit cards are used to keep personal and business finances separated.  Those of you that have started a business using your personal credit cards know what a mess that can put your business in and what a mess you can be in during tax season.  Separating business and personal finances from the beginning is a wise decision.

Business Credit Cards often offer great incentives and rewards for using the credit cards, better then consumer credit cards typically offer.

Business Credit Cards may also have money management resources you can use to help manage expenses and help keep track of transactions processed with the credit card.

Business Credit Card Rewards

Here is some of the rewards a Business Credit Card may come with.  See which would help your business the most.

  • Cash Back on Business Expenses – Earn Cash back on purchases for anything related to your business including office supplies and sometimes fuel for your vehicle.
  • Travel Rewards – If you travel a lot you can save on air fare, hotels, car rentals and much more.

Business Credit Card Rewards give you the ability to save more, travel cheaper, and have a whole slew of benefits for you, your business and your employees.  Imagine rewarding your best employee, or highest producers with a vacation or incredible prizes paid for entirely by rewards from your business credit card.  Take your entire staff to a concert or a Broadway show during the holiday season paid for entirely by rewards points.

Many business credit cards will allow you to earn 1-3% cash back on all purchases with unlimited reward point caps.  This means the more your business spends, the more rewards you earn, the more you can enjoy the business you do.

You can add employees to your business credit card card-holders list which will allow the trusted employee to use the rewards credit card for the business transactions they conduct.  This will allow you to benefit from the rewards program throughout all areas of your business.  Many business credit cards allow you to download statements into your accounting software which will show you the break down of expenditures by employee.

Business Credit Cards are designed to offer the business owner the opportunity to keep business and personal expenses separate. The business credit card may offer special business rewards and saving opportunities that go above and beyond what the individual credit card owner may have. Because money management is essential in successfully running a business, the card may offer an expense management service that will allow you (the business owner) to keep track of the outgoing money.What type of Rewards can a Business Credit Card come with?

1) Earn points per dollar charged which can be redeemed for cash or various travel rewards.

2) Earn cash back on office supplies, gas and other business expenses.

3) Earn credits towards various hotel stays and car rentals.

In a nut shell, business credit cards give your business the opportunity to earn perks for you and your employees.  Charging expenses on a business credit card can return 1-3% cash back on all purchases and many cards have unlimited-caps on earning rewards (the more your business spends the more you earn). Most business credit cards let you earn reward points similar to frequent flyer credit cards and 0% APR credit cards. Other potential benefits include expense management reporting and higher credit limits.

Some business owners prefer to use several credit cards with different rewards programs associated with each one. For example, one with a low interest rate or 0% APR offer for carrying balances, and one for charging day-to-day expenses that will be paid in full every month. This strategy lets you take advantage of the cash back or rewards benefits of your small business credit card, letting you earn up to 3% cash back on business-related purchases, such as office supplies or gas. You may also opt for a business credit card that lets you earn travel rewards which you may have issued to one of your frequently traveling employees. This enables you to leverage your employee spending towards free trips, hotel stays and even airline seat upgrades.

By adding employees to your business credit card card-holder’s name you can reap rewards from company wide spending. You can also consolidate your business expenses into one “master account” which improves book-keeping efficiency. Many business credit cards give you the option to download your card statements into your preferred accounting software each month which can provide break downs of expenditures by employee.