FDIC-Insured – Backed by the full faith and credit of the U.S. Government7 Easy Ways to Put Your Business Credit Card to Work for You
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Running a successful business requires you to maximize all your available resources. If you own a business credit card, you have a powerful one at your fingertips. A business credit card can be a smart tool to help you grow your business and manage your cash flow. Consider these 7 easy ways to put your business credit card to work for you:
- Access immediate credit. A business credit card is a revolving line of credit that lets you borrow and repay funds over time. So, you can use it to help make short-term business purchases, such as inventory or equipment, help manage unexpected expenses, or seize opportunities to grow your business.
- Separate business and personal spending. Need to keep track of your business versus personal expenses for tax purposes? Your business credit card makes it easy. You can use it to make convenient business purchases and get a clear picture of your spending.
- Preserve cash flow. With a business credit card, you’ll have a grace period on purchases you make, which can help you preserve cash in your deposit accounts for growth opportunities.
- Take advantage of purchase protection. You’ll likely make large purchases with a business credit card. Purchase protection can help cover you if something goes wrong with a purchase, such as damage or theft.
- Request cards for employees. If you have employees, you can request cards for them and set credit limits to help you control business spending.
- Earn rewards. If you have a card that pays rewards, you can earn cash back, mileage, or points toward business perks that can help you save money.
- Build business credit. If you have a new business without an established credit history, having a business credit card and making on-time payments can help build the credit you’ll need to apply for a business loan one day.
A business credit card is a valuable tool, but it is a responsibility. Make sure you use it wisely by always making your monthly payments on time and paying down purchases to avoid finance charges, which can really add up.