Many new small business owners do not have a credit card account specific to their business. They might use a personal credit card to make business related purchases every now and then, but the majority of new business owners overlook the value a business credit card may provide to their business.
There are many reasons why a small business owner would benefit from having a credit card account specifically reserved for their business use. First, though, lets discuss the typical reasons why a small business owner would avoid a credit card!
Top 6 Reasons Small Businesses DONT Have Credit Cards
1) Business owner is afraid that they will overspend if they have access to a credit card.
2) Business owner thinks its complicated to apply for and receive a credit card under the business name, or feel they dont have strong enough credit to get one.
3) Business owner thinks finance charges and interest rates will be expensive and cost more money than the convenience of having a credit card is worth.
4) Small businesses dont make enough purchases to require a credit card.
5) Business owner likes the control over spending by employees when a...
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