Business Reward Credit Cards; Six Things You Need to Know
Author: Wendell and Charmayne Vannatter
Author: Wendell and Charmayne Vannatter
It doesnt matter if you're a sole proprietor or the owner of a large corporation with hundreds of employees, business reward credit cards can give you a source of quick capital and help in the process of managing your daily business transactions. Although the specific features of all cash rebate credit cards are different, here's some information that you need to know about this $300 billion industry so you may choose which new best credit card is right for you. #1: Personal and business credit history will determine your eligibility. Credit card issuers will always look at your personal as well as your business credit history to determine which card you will qualify for as well as the terms of your card. Obviously a history of good credit will impact your chances the most for receiving good rates, you also need to make sure the personal credit bureaus such as Experian, TransUnion and Equifax have up to date and accurate information about your credit history. The same should be true for the business bureaus such as Dun & Bradstreet and the Small Business Financial Exchange. Card issuers may also move in your favor if your business' licenses and insurance policies are current. This shows that you're running a legitimate business. #2: Are you liable for all the debts? Liability concerns differ depending on two different card offers. These are, commercial liability' or joint and several' liability. The first offer means your business is liable for all of the cards debts. Whereas joint and several liability means both the individual and the business are responsible for the cards debts. Be sure to know your rights and responsibilities before choosing your new best credit card. #3: Higher credit limits are often given to business cards. Credit limits for business credit cards are often higher than they are for a personal card. Small business owners often charge more purchases for the business than for personal goods. Many business credit cards do not have spending limits. Although such cards often carry higher annual fees. #4: Employers and employees can be issued cards. More than one card can be issued to the same account to be used by the employer and different employees. Such cards can be tailored with different privileges attached so the business owner may determine how much credit individual employees may have access to and where they can make certain purchases. #5: The accounting process made easier. Business reward credit cards help business owners to separate their personal expenses from their business expenses. This is a necessity if you wish to avoid problems with the I. R. S. Your monthly credit card statement will help you to track your business and personal spending. #6: Make business spending pay off with Business Reward Credit Cards. It doesnt matter if your business spends money on travel, or business entertainment or office supplies; you can find a cash rebate credit card with a rewards program that lets you accumulate points to use towards these kinds of purchases when you use it. Some card issuers work in agreement with other companies giving their cardholders discounts on various business-related items and services. For more information on business reward credit cards visit
www.NewBestCreditCard.comAbout the Author:
Wendell and Charmayne Vannatter are writers and bloggers who frequently write about New Best Credit Cards.
You may also wish to check out their article on Cash Rebate Credit Cards; Are They Right for You or Your Business? At
http://www.newbestcreditcard.com/cash-rebate-credit-cards-are-they-right-for-you-or-your-business
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