It has only been recently that the larger credit card companies began aggressively marketing small business credit cards. If you are a new entrepreneur and have decided its time to get a small business credit card, you are in luck!
Most new businesses are sole proprietorships and credit is an important part of growing your business. The credit card issuers look at your personal credit history to see how youve managed your personal debt. A good personal credit report can prove that you take your obligations seriously.
As with any credit decision, you need to review what your requirements are before you apply for a small business credit card. The financial institutions are offering numerous incentives for your loyalty such as rewards, cash back, airline miles, high credit limit, and an option to pay over time or in full.
A small business credit card can assist with your cash flow. If you purchase supplies to do a job and bill the client upon completion, a small business credit card allows you that needed extension of time. You should keep this in mind and perhaps apply for a higher limit credit card. Consider the invoicing cycle. If you think it may run over...