Five Advantages of a Business Credit Card By FederatedCreditCards.Com Copyright © 2008 - 2011

Expense Tracking

Going through boxes of unorganized receipts to categorizing and itemizing small business expenditures for tax reporting can a true nightmare. Many credit card companies will provide a summary of your business transactions at year-end. Keep your receipts as supporting documentation but do use any reporting provided by the business credit card company.

Additional working Capital

New businesses frequently face periods with little or no cash flow. Limited cash flow is the number one reason small businesses go under. No capital reserves can result in missed opportunities. A good business credit card can provide you with inexpensive working capital in lean times or needed capital to take advantage of a business opportunity. Many cards have introductory rates of 0% APR or an on going APR of around 5%.

Rewards

Credit card companies offer a various rewards and discounts for using their card. These range from travel rewards to discounts on office supplies, and cash back on purchases. Take advantage of these rewards. They’re a great way to reduce your overall expenses by several percentage points.

Credit History

Paying your bill on time is a great way to build a solid credit history for your business. This good reputation will open doors to better finance opportunities in the future, --loans, and other lines of credit needed to grow your business and take advantage of business opportunities when they arise.

Control Employee Spending

Employee can be issued company credit cards with preset spending limits. Be sure to monitor this spending each month.

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