Business Credit Card FAQs

Are you an entrepreneur planning to get a credit card for business? If yes, here are answers to some of the most Frequently Asked Questions about business credit cards:

Do you need to own a large business in order to qualify?
In the past years, only corporations and larger companies can get a credit card for business. Today however, small business and home based business owners are given the opportunity to get a business credit card with their company name printed on the card. Read more…

Use Your Small Business Credit Card to Effectively Manage the Business

Small business owners today are encouraged to apply for business credit cards to manage their finances more effectively. Have you thought of applying a small business credit card? If you’re wondering about the benefits you can get, check out the following points:

Separate business from personal expenses. Separating your business expenses from your personal budget is crucial even if you have just started your company. As your costs increase, having a separate business account will save you from a lot of work and confusion. During tax seasons, you can use your business credit card account summary to distinguish purchases that qualify for tax deductions. Read more…

How do You Establish Business Credit

Establishing business credit history is an important step for an entrepreneur. If you have just started a business, here are the steps that you must do.

Ensure the legality of your business. The first step is to secure all licenses and permits required by your State. This includes passing “zoning inspections”, applying for an Employer Tax Identification Number, and obtaining insurance policies for your company. Read more…

What You Get from Secured Business Credit Cards

Many entrepreneurs use business loans to finance a business. Those with good credit should have no problem getting an approval from lenders who offer a good deal. But what about those with bad credit history? Where can they turn to when in need of financing?

If your credit score is not in good standing, you should know that your personal credit history can affect your business loan prospects. Improving your personal credit rating can make a big difference in obtaining a business loan from your chosen lender. What are the steps that you can do to recover from bad credit? Read more…

Line of Credit and Business Credit Cards – Why Important for Business

A business line of credit and a business credit card are financing options available for small businesses. What is the difference between these two business financing options? Which one should you get? How can you make the most of each? Let’s discuss these questions one at a time.

What is a Small Business Line of Credit?

A business line of credit is similar to a secured business loan. However, instead of receiving the amount of loan in cash, a business owner can choose to withdraw the cash in installments. Read more…