Credit Cards for Businesses

Credit cards for businesses come in a wide variety. As the name suggests, a business credit card is designed specifically for businesses. Technically, this card has the same usability and branding as the consumer credit cards, only that instead of the name of the individual, the card bears the name of the company or business instead.

Business Credit Cards vs. Personal Credit Cards

Aside from the fact that the company name is emblazoned on the face of the card instead of the cardholder’s name, the rules implemented on the business and personal credit cards differ significantly. The unfortunate news is that the business persons that own a professional card or business card are not protected by CARD Act 2009. Known as the Credit Card Accountability, Responsibility, and Disclosure Act, this law was designed with the consumers in mind and not the companies.

However, a business credit card can offer exciting benefits that cannot be enjoyed with a personal credit card. Especially when the cardholder has made a wise decision in choosing the best card that fits the needs of his or her business, the benefits can never be underrated.

Top Benefits of Business Credit Cards

A business credit card allows ease of bookkeeping. This is because the card can be used to keep track of all your business expenses throughout a given period. Issuers often provide itemized statements so that you will stay within your business’ budget range. This feature of the business credit card allows you to analyze the use of your business resources, thereby helping you to make sound decisions regarding your business expenditures. Additionally, you can have a separate personal account to avoid mixing your business finances with your own personal expenditures.

Having a business credit card also gives you protection against fraud, especially those committed by employees. This is achieved by means of issuing a credit card for all the employees who are responsible for buying products or services. This actually encourages employee accountability. There are also companies that offer to cover charges when you get involved in scams involving your workforce.

There are also helpful rewards that your business can benefit from using a business credit card. These include cash backs and special incentives. Rewards, such as discounts on equipment, travel, and services can be useful especially for startup businesses. When you open a credit card account using your company’s name, this will create independent corporate credit. This is handy when obtaining cash through loans. You can use your positive credit history to seek a loan and even go for favorable interest rates.

Credit cards for businesses offer numerous benefits, making them a lucrative tool for any company. They can also be used to fund your business operations as they present you with valuable rewards. If you are searching for a good credit card for your business, there are several websites that may be of help to you. One is cardrewards.net, where you can find a variety of credit cards and compare their different features.