Business Credit Cards



1. Business credit cards offer business benefits.

True
An online business credit card for companies offer a range of different benefits such as generous spending lines, discounts and additional cards for employees. Interest charged on company credit cards may be tax deductible. It is recommended to consult a financial advisor or tax expert to find out details about tax deductions for interest paid on an online business credit card or regular company account. Other benefits may include cash rebates and additional savings based upon purchases at participating companies that offer discounts.


2. Business credit cards usually have a low credit limit.

False
These charge cards typically have no limit or a very high line of spending. They also have better interest rates than most individual account holders could obtain. They are good for companies because they are accepted everywhere that major credit cards are accepted. A company owner has the ability to purchase many supplies and equipment from places that any charge card is accepted. In addition to that, their purchases are listed orderly on their monthly statement to make for easier accounting.


3. Business reward credit cards let you earn rewards on business expenses.

True
Most charge accounts usually offer a rewards program. Cash rebates, airline mileage points, and hotel and entertainment discounts are just a few of the rewards that some cards offer. The Internet is a great place to research the different rewards offered for business expenses. Reward points are usually given based upon a percentage of company purchases.


4. Reward business credit cards always have low rates.

False
Company charge cards will usually offer a low introductory rate. However, some accounts may include an annual fee or higher interest rate in exchange for benefits and rewards. Most company accounts have variable rates meaning that the rates fluctuate with the federal interest rate.


5. Acquiring an online business credit card entails being a good financial manager.

True
Proverbs 27:23-24 - Be thou diligent to know the state of thy flocks, and look well to thy herds. For riches are not for ever: and doth the crown endure to every generation?


Small Business Incorporating


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