People who have their own businesses to take care of apply for business credit cards for different reasons. Some people would say that they just want a separate account for personal and business finances. Others would say business credit cards builds up the image and add credibility to the name of the company.
These two are valid reasons of getting a business credit card but ask people what is the primary and most useful benefit they get out of business credit cards, and they would likely say that it helps them in managing financial resources for their business. Indeed, for large corporations and small businesses, business credit cards are valuable tools in making bookkeeping tasks a lot easier to handle.
Through a business credit card, the account holder receives updated report of his account monthly and annually. All spendings are included in the account report. It does not only reflect the credit charges but other details as well such as what sort of purchase was made, the date it purchased, and the category under which the purchased items belong. Thus all expenditures can be tracked whether it was a valid business transaction or not.
There is no need to keep hold of too many invoices and receipts just to keep track of expenses. Also, it’s alright to hand your employees their own business credit card which they can use to buy necessities for the company.
Additionally, the credit report can be easily downloaded from the business credit card’s website direct into your PC. If you are using accounting software like Quickbooks, you can transfer your account report to your software for added convenience in bookkeeping and accounting.
Of course, we must not forget the perks and other advantages. Opportunities for rewards and bonuses are abundant for business owners. Even if small business entrepreneurs usually make buy in bulk for their supplies and materials. Cash back and reward points pour out for these credit card holders. With every buy, they are guaranteed at least a portion or a percentage of cash! These points accumulate in time, and can surely add up to a significant amount of money.
For frequent travelers, a business credit card is a good way to earn free vacations and luxury trips. Aside from free airline fare some credit cards for small business offer travel insurance, baggage protection, free hotel accommodations , free car rentals and car insurance. Choose the business credit card that has partnership with your favorite airline and get extra discounts with your flights.
Given enough thought and consideration, you will be able to pick out the best business credit card for your type of business. Simply browse business credit card reviews available online and explore all your options. All these advantages and more can be yours if you know how to use your business credit card wisely. So go ahead, get a credit card for your own small business and simplify your bookkeeping tasks now!