Little Known Small Business Credit Card Perks

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Credit is a strange thing. You can’t start building credit unless you have a credit card, and you often can’t get a credit card unless you show history of building credit. It’s like the age-old question: “What came first, the chicken or the egg?”

But once you’ve matured, got your first credit card (and then a second and third), your personal credit score begins to improve and you start seeing the benefits. The same goes for a business credit card.

As a business owner, establishing credit for your business is equally as important as building your own. But business credit cards give you more than just a credit score. They can help with record-keeping, preserving a steady cash flow, and making it easy to separate personal and business expenses.

Plus, did you know that many companies offer promotions and perks for businesses that sign up for credit cards? Here are some of them:

  1. Manage tax deductible business deductions: Within the credit card company’s app, business owners can often easily take photos of their receipts and attach those receipts to corresponding business purchases. Come tax season, you will have all the receipts for your deductible business purchases right in one place.
  2. Free employee cards: Many card providers will offer additional employee credit cards for no extra cost. This enables you to set spending limits, while giving them a line of credit to use towards business trips, conferences or other office needs. And they won’t be tying up your credit card every time they need to purchase something.
  3. Sign-up bonuses: Credit card companies want your business. Plain and simple. That’s why they offer some really great sign up perks like earning cash for dollars spent on the card or free points to use on flights and hotels.
  4. Easily accessible small business tools: If there is one thing small business owners will never lack, it’s their access to knowledge and tips. Business credit cards often come equipped with tools like online forums, quarterly reports, year-end summaries, trends and others to help keep right on track.
  5. 0% introductory APRs: Ah, the dreaded interest rate. Despite how much consumers dislike having to pay back interest, they are necessary whenever you are “borrowing” money. With that being said, though, credit card companies know how much high interest rates affect their chances of having you as a customer. That’s why many credit card companies offer a 0 percent introductory APR on purchases, rather than balance transfers. This could end up saving you hundreds of dollars in interest payments.
  6. Office supplies rewards: Surely you’ve heard of cash back on gas or points for hotels and airlines, but have you ever heard of business cards offering rewards for buying office supplies? That’s right. There are some providers out there that offer points back specifically when you make purchases for your office, whether it’s supplies, internet access, cell phones, or furniture. Just have to find the right one!

We understand that business credit cards won’t work for everyone, but encourage you to consider these 6 perks the next time you are wondering what you can do to enhance your business credit. And if you need another source of financing for your business, you know where we’ll be!

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