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 score card companies have enhanced and added more perks for their business clients to appreciate. So if you’re still using your personal credit card for your business, it’s time that you get a brand 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’ve been using a personal credit card for your business, you may have encountered some problems in managing both your personal expenses and business expenditures at the same time. This problem alone should make you realize that a new business credit card is advisable for most business owners.
There are numerous benefits if you choose to have a new business credit card. The secret is to obtaining the ideal card that will help boost your business over time .
The following are some factors to consider in 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 give you a 0% APR on your preliminary year and from other card companies you may get as low as 8% APR .
No expiration of rewards – You will find some credit card companies that offer a no-expire clause for the rewards that they provide. This allows business owners to accumulate their rewards without worrying about the expiration date of usage.
Higher cash back percentage – Many credit card companies still apply the standard practice of offering 1% cash back to their clients in the early years. Today, there are those that offer as high as 5% to their loyal clients.
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. Verify the individual terms and conditions of these perks and see if they will benefit your business as time goes.
For a business owner like you, you need to be ready for unexpected bills and you need to have other sources to finance 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.