As a small business owner, you have a lot on your plate. This includes a variety of details in regards to the company’s finances.
At some point, you may begin to ponder the idea of applying for a small business credit card. While this is a big step forward, it’s also one that you should strongly consider. And here is why:
1. Easier to keep track of your spending. When you make every purchase with your credit card, it’s much easier to remain organized. Along with this, many credit card companies will send an itemized spending breakdown at the end of each month.
2. Ability to build positive credit for your business. With this, you will find yourself in better position to apply for and receive loans in the future.
3. Rewards. Did you know that many small business credit cards have a rewards program? This allows you to earn points, month after month, which can be redeemed for everything from gift cards to travel.
4. Protection. With a business credit card, you gain another layer of protection with each purchase that you make. The same cannot be said when you pay with check, cash, or debit card.
5. Easy to use. Let’s face it: paying with a check is not always the easiest thing to do. In addition to writing and recording the payment, it can take longer for the other party to receive.
These are just a few of the many benefits of a small business credit card. When you take all these into consideration, it’s easy to see why so many business owners have made this decision.
Have you used a business credit card in the past? What advice would you give a business owner who is searching for his or her first credit card?