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Benefits of a Business Credit Card

Written By: Editorial Staff

Have you ever tried lugging around a business checkbook? Those things are big and unwieldy. For that, and a score of more important reasons, obtaining a business credit card is a smart idea for your growing business.

Convenience
Writing checks -and keeping track of them all -can be a time-consuming process. Using a credit card is fast and easy to track. And almost every business under the sun takes all the major credit cards as payment for goods and services.

Reporting
As a small business owner, you are concerned with two big things: your budget and your taxes. A business credit card can help you with both. By providing a detailed look at your spending each month, you can see where you money goes, and plan your budget accordingly. Also, you are probably going to be eligible for plenty of deductions come tax time. Credit card statements help you keep a record of purchases that can be "written off" on your tax return.

Rewards
If you choose the right business credit card, you might be eligible to receive valuable rewards for purchases. These rewards can take the form of airline miles, office supplies or even cash. Select a card that offers rewards relevant to your business and you'll get a little something in return every time you use it!

Setting up a business credit card is easy -really no more difficult than applying for a personal card. First you need to register with a business credit reporting bureau. These agencies act just a personal credit reporting company, but check your status with vendors and others who you have dealt with as a business. You will also need to make sure that your personal credit is in order -since this will be one of the deciding factors in getting your business credit card. Finally, find a professional business credit provider that you can trust, offers a good interest rate and offers rewards relevant to you and your business.

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