Business Credit Cards
Having a dedicated business credit card can bring many added benefits to your business. A key benefit of owning a business credit card is that it enables you to seperate your personal credit card purchases from your business purchases.
This in turn makes for easier business accounting and also gives you the option of deducting any incurred interest charges from you annual tax bill – a move that the taxman would unlikely approve of if you were to claim back business expenses from a personal credit card.
If your business requires you to travel frequently then these added benefits of owning a business credit card will surely come in handy. These travel benefits can include:
- Free travel worldwide
- Free medical insurance
- Free air miles
- Hotel discounts
- Flight upgrades
Guarding Against Credit Card Fraud
All credit card companies have measures in place to protect their users from fraud, but some business card issuers also offer further protection.
Cardholder Misuse insurance can be especially useful, if for example you have any employee misuse. Other types of fraud protection include purchase protection where every card purchase made is instantly covered against loss, damage or theft for up to some 90 days of protection.
Choosing A Business Credit Card
There are many business credit cards available so it is important that you choose the right one for your needs and your business. Factors that are worth taking into account whilst making the decision include:
- Business Credit Limit – Does the card offer a credit limit that you can realisitically afford?
- Integrating With Accounts – Will the monthly/annual statements be easily integrated into your current accounting system. Does the issuer offer online services or accounting formats?
- Reward Points – Are there any business reward points, and will they be useful for your needs?
