Business credit cards are credit cards for businesses to use instead of for personal use. Business credit cards are available for businesses of all sizes. This post, we will introduce to people about a lot of benefits of the business credit cards.

Best rewards credit card
Business credit cards are available for businesses of all sizes

In the previous post, Info Credit Free introduces people to the Swift Code State Street Corp in the US, to get more information people can read the article List of all Swift Code State Street Corp for people to transfer money. Now, let find knowledge about business credit cards in the post today

BUSINESS CREDIT CARDS

Just like a lot of article posts such as easy loans for people have bad credit, credit bureau contact information,  unsecured loans for people with bad credit…, this post about business credit cards also includes some main parts.

1. What are the business credit cards?

Business credit cards are credit cards for businesses to use instead of for personal use. Business credit cards are available for businesses of all sizes. They can help businesses build credit profiles to improve future loan terms. Small business credit cards can also be supported by an individual personal liability guarantee that can also help structure credit terms.

When do you need business credit cards?

The business credit cards can be used to make purchases on a card held in the name of a company instead of an individual.

The benefits of business credit cards include:

  • They keep the personal finances separate from the business’ funds.

  • Credit cards are widely accepted.

  • Most offer extra protection when people spend in the UK and abroad.

  • People can improve the cash flow because they can spend even when they are still waiting for incoming funds. They pay it back when receiving the monthly credit card bill.

Best rewards credit card
Business credit cards are available for businesses of all sizes

2. The benefits of the business credit cards

2.1. Instant capital

Business credit cards provide business owners and entrepreneurs with instant and convenient capital that they can use for any business need:

  • Operating capital/Cash flow management:Credit cards can close the gap between customers’ cash withdrawal and payment needs.
  • Startup capital: Business owners can use credit cards to pay the original organization and expenses, buy signs and inventory and advertise.
  • Growth capital:Enterprises can use business credit cards to bring capital equipment, such as machinery, furniture or electrical equipment, now used to generate current income while paying off the balance. by the time.

2.2. Separation of business and personal assets

When used correctly, business credit cards can help you prove the strict separation between your personal and business finances. This is very important to ensure that you and your family, along with your business partners, are protected from business debts.

If you are sued or bankrupt, and your business records show that you regularly mix personal and business accounts or use business assets for your personal benefit, you can endangering the protection of his limited liability. Without the limited liability protection you get by running your business as a company or limited liability company (LLC), your personal property will be at risk.

2.3. Bookkeeping and accounting features

Many business credit cards include the following useful cost management and accounting capabilities:

  • See the minute usage report for each cardholder on the account
  • Set spending limit for personal cards
  • Cancel or suspend credit card
  • Get the historical activity immediately for each card
  • Set up account alerts for each individual card
  • Adjust cash advance limits
  • Transactions compare with the report
  • Send automatic feeds to your accounting / accounting software system
  • Automatically split costs into categories to support cost management
  • Access to account control via mobile device

2.4. Tax benefits

Maximize tax deductions: Use credit to finance the purchase of equipment that can help you take advantage of tax planning opportunities. For example, if you sponsor equipment repair via credit card before the end of the year, you can take advantage of the tax deduction for the current year while paying off later.

Simplify taxes: Many of today’s business credit cards come with improved reporting and accounting features that make it easy to download detailed reports of all charges calculated by card. . This information can be automatically transferred to most prominent small business accounting software programs, such as Intuit and Peachtree.

3. Compare the Best Business Credit Cards

Here, how each card is stacked. Note that for rewards with two spending levels, we only cover factoring in the rewards you earn when meeting the first level.

Credit Card Bonus Offer Bonus Value** Perks Value Annual Fee Total Value
Capital One Spark Miles for Business 50,000 miles after you spend $4,500 in the first three months $700** N/A $95 $700
Chase Ink Business Preferred Credit Card 80,000 points after you spend $5,000 on purchases in the first three months $1,600 N/A $95 $1,505
United Explorer Business Card 75,000 miles after you spend $5,000 on purchases in the first three months $1,050 N/A $95 $1,050
CitiBusiness AAdvantage Platinum Select World Mastercard Up to 60,000 bonus miles; 50,000 bonus miles after you spend $3,000 on purchases in the first three months and 10,000 bonus miles after you spend $10,000 total on purchases in the first twelve months. $700 N/A $99 $700
The Business Platinum Card from American Express Earn 50,000 points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 in the first three months. Terms Apply.  $1,000 $200 air travel credit, $250 worth of lounge access ($450 total). Terms Apply.  $595 $855
Starwood Preferred Guest® Business Credit Card from American Express 75,000 points after you spend $3,000 on purchases in the first three months. Terms apply.  $675 N/A  $95 $675
Southwest Rapid Rewards Premier Business Credit Card 60,000 points after you spend $3,000 in the first three months $900 N/A $99 $801
Capital One Spark Cash for Business $500 after you spend $4,500 in the first three months $500 N/A $95 $500
Chase Ink Business Cash Credit Card $500 cash back after you spend $3,000 in the first three months $500 N/A $0 $500

This post is about business credit cards. We provide this information to offer you with some of the necessary information that is useful for getting the best business cards. Also if you are using credit cards and would like to know how to borrow money, please refer to the Best loan companies for poor credit link we just provided in the previous article. 

In addition, we provide a variety of information on insurance or the Swift Code of each bank in the US in many previous articles. If you are living in the US and want to know about insurance or code, people should read some articles like such as Swift Code JPMorgan Chase & Co, health insurance companies, car insurance quotes online…

Hillary (Team Content) – Info Credit Free