Having a business for quite a while can teach you several lessons that may involve changes and improvements in various industries. One of those changes is how the credit card companies have enhanced and added more come-ons for their business clients to avail. If you are still using your good old personal credit card for your business, then it’s about time to get a new business credit card.
At this stage, you may be wondering why a new business credit card is important for certain company owners like you. If you have been using a personal credit card for your company, you might have encountered some issues in managing your two credit cards at the same time. This reason alone can give you a clear direction as to why a new business credit card is advisable for most business owners.
There are many advantages when you choose to get a new business credit card. The key is to getting the right card that will help your company alongside the way.
The following are some considerations when getting a new business credit card:
Low APR and fixed APR rates – Many credit card companies may provide very low APR or fixed APR rates to their customers especially those who have small businesses. Standard credit cards may offer you a 0% APR on your initial year and you may get as low as 8% APR from others.
No expiration of rewards – You will find some credit card companies that offer a no-expire clause for the rewards that they provide. This permits business owners to collect their rewards without worrying about any expiration date.
High cash back percentage – It was standard practice for most credit card companies to offer 1% cash back to clients in the previous years. These days, there are companies that offer as high as 5% to their loyal customers.
Other perks and benefits specific for business owners – You will find credit card companies that provide certain perks that can help business owners, such as low interest rate and cash loan credits. Get to know the policies of each of these perks and see if they will work for your company’s needs.
As a business owner, you should be prepared for unexpected expenses and you should have other means of financing them. A new business credit card dedicated to your company can be the solution to your long-term monetary needs as well as to your problems in managing your payments.