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Sunday, February 8, 2009

Low Interest Business Credit Cards are Good For Your Business

By Caressa Waechter

A business credit card is similar in most aspects to a regular consumer credit card. They have a similar application and approval process, the same rules apply about paying interest if your card has a balance, and they also affect credit ratings in very similar ways.

These business cards can offer low interest rates, different rewards programs, online account access and services that support you, the business owner. Their credit limit is often higher than a consumer's credit card.

If you are a typical entrepreneur applying for a credit card for your business, your personal credit history will be checked. This is because most small businesses do not have their own separate credit history, so as the owner, you are essentially personally guaranteeing the business card.

A business credit card allows you to keep track of business spending, as well as spending of employees. Because of this, a business credit card makes for an excellent tool for managing business expenses.

If you need to track where and what your business spends money on, then the annual and quarterly expense reports that most business credit cards offer is a very handy feature. They allow you to track expenses as well as figure out future budgets.

Rewards programs are very common on business credit cards, and can be similar to those that are found on normal consumer cards. However, a lot of credit cards that cater to the business owner also have rewards programs that cater more to business needs and desires.

When it comes to managing expenses and helping grow your business, a business credit card is a great tool to have. You do need to find one that fits the needs of your business, giving your company maximum benefits.

Business credit cards should be used as tools for success and should never be abused. Since they are designed specifically for corporate and small businesses clients, they are an affective tool that can grow and change with your business needs.

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