Business Airline Credit Cards
Business credit cards are valuable to business owners who are looking for a line of credit that comes with some type of reward. The rewards can be used to purchase airline tickets, office supplies, fine dining, car rentals, hotel reservations and a host of other options. The majority of startups may not qualify for traditional loans, at least not on the business name, however business credit cards are easier to secure and more readily available. This is why more and more business owners resort to the use of business credit cards. Before you apply for your next card make sure to read and understand the fine print and have a decisive plan for managing this line of credit.
What is a business credit card?
Business credit cards represent the new era of credit for small and medium sized businesses. Using them business owners can meet business expenses and have a convenient way to keep track of money spent. As it stands right now 2/3 of all small businesses use some sort of credit card to meet business expenses and 42% of that group make use of business credit cards. This means that the other 58% are using personal credit cards to meet business expenses. This is never a good idea since it paves the way for tax and money management issues later on.
Since the rates and rewards vary from one business credit card to the other it is important to research and select the card which offers the lowest interest rates and best rewards for your business. If you do your homework you might be able to find a card with no annual fees or at least one that will waive the fee for the first year.
Is a business credit card right for you?
Business credit cards are perfect for business owners who are looking to reap some rewards for their businesses and therefore cut back on business expenses. They are also an ideal choice if other traditional lines of credit are not readily available.
If you want to keep your personal and business debt separate then business credit cards are the way to go. You will not only be able to separate your debt but also establish a credit rating for your business. These cards also make it easier to itemize business expenses since most credit card companies will divide your expenses into categories that you set up and send this list on your monthly statement. When the end of the year rolls around it will be that much easier to get your business expenses organized.
As valuable as these cards are for businesses they must be managed wisely in order to reap the great benefits. In order to avoid the high interest rates attached to business credit cards you need to limit your spending to an amount that you can afford to pay back at the end of the 20-30 day grace period.
Do not fall prey to the temptation to acquire multiple business credit cards since the more you have the more you will be tempted to spend. You can also reduce fees and interest charges by paying your balance on time and avoiding the use of the cash advance feature. Used wisely business credit cards are a great way to get rewards and have ready access to the funds that you need to build the business of your dreams.
- Compare other Airline Credit Cards
*Check with the online credit card application for further details about the terms and conditions for each card. Airline Miles Credit Cards has done everything possible to ensure that the information provided is up to date. Any changes made to these programs will be presented in the terms and conditions on the credit card issuer's website.