New business, new credit card
Posted by admin on January 21, 2009 under Types of credit card | 
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So you’ve chose on the idea and thought long and hard about the name – now it’s time to acquire your fresh business up and running. You may have an amount of capital from investors, which needs putting into a business account. It’s also now time to seriously consider applying for a business credit card that can compliment that first capital investment.
A lot of fresh business proprietors are unsure as to why they might require a business credit card. Certainly it’s just as comfortable to put any funds into a personal account and run the business from there? Unfortunately, this couldn’t be further from the truth. Separating personal and business finances should be a priority for all new business proprietors. Not only will it minimise the amount of paperwork necessary during accounting periods, but it will also look far more professional to the Inland Revenue Service when it comes to submitting accounts. Business credit cards also provide spending reports, allowing you to identify spending habits – an advantage which most personal credit cards do not offer. In addition, you can request additional credit cards for employees; a facility that is not possible with a personal credit card. These cards can have spending boundaries attached to them and transactions can be tracked online to ensure that all employee spending is essential and inside the set limits.
A business credit card also permits a new business to qualify for specific deals and discounts that are designed with companies in mind. These can include perks such as reward schemes on certain products and services or offers on Airmiles or travel insurance. These benefits can be specially beneficial to small and medium-sized businesses if the card is chosen with the perks in mind. Read more of this article »
