It is no easy task to setup a business. A big amount of capital is needed to start it and keep it in operation. It is difficult yet very challenging. Many businessmen now feel a slight sense of relief with the introduction of a business credit card to help assist them in their cash needs.
A business credit card has many perks attached to it. For starters, it offers financial help. It could be initial capital or additional capital to an already operating business.
By using a business credit card, you can enjoy 0% interest on credit purchases. It will save you a lot of money if you need to buy supplies or equipment on installment that is usually payable in 12 to 15 months. This is a very good deal because the profits generated every month can cover for the installment payments.
Another perk is that you can easily track down your cash flow. You can use your business card to buy important things needed for your operations and you can do this because your credit limit is flexible and you can even request for an extended credit if direly needed. Just be sure that you do not go beyond your credit limit or this will adversely affect your cash flow.
A business credit card is also just like a personal credit card in the sense that it could also serve as a financial report. Aside from this, other perks are extra features that make life a little more organized for you. It is easy to review your purchases as you can view it in different ways. It can be categorized by dates, by amount or by type of purchase.
Bookkeeping is also made very easy. You will be given a secure online account so you can access it easily anytime you want to. You do not need to wait for your billing statement to arrive in your mail. Your online statement is compatible with many accounting programs available. You can easily upload this to whatever software you are using and be able to monitor your expenses all the time.
Your business card also entitles you to rebates and discounts on your business transactions. Bigger companies with more employees are eligible to higher discount rates that could be as much as 19%, not to mention other bonuses that a credit card company might give.
One of the best perks perhaps is the frequent flyer program which could amount to great big savings on your travel expenses. Every trip you make using your card will earn points for you. These points are convertible to discounts in airline tickets or hotel accommodations.
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