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I’m pretty sure if you lived in the middle of the Alaskan wilderness in a cabin only reachable by a plane, where your nearest neighbor was over 150 miles away, you would still get a credit card offer on your doorstep every week.
Everyone over the age of 18 is constantly bombarded by personal credit cards, but as a business owner, you just might want to consider one as a tool for you small business. So let’s take a look at what a business credit card is and how it can help your small business grow.
A business credit card is a credit card designated for business use. It works like a personal credit card, having a spending limit, but includes incentives and programs for businesses. Some of these include higher spending caps, no interest for 60 days, and high quality fraud protection.
Business credit cards can be a great tool for your small business. Instead of having to get a small business loan to cover small expenses, you can just you your credit card. Some benefits include:
While business credit cards can be useful, you can run into a lot of problems if you’re not careful. Here’s a few drawbacks to a business credit card:
There is a myriad of options for finding a business credit card. As with any financial decision, make sure you do your research and choose responsibly. Look at the different incentives offered, and find the best option that fits your business.
Here at Lendio, we carry a lot of small business loan options for business owners. Some of those are business credit cards. You can signup with Lendio to see your options.
Tyler is a member of the Lendio marketing team. He is passionate about digital marketing, small business, and helping small business owners succeed. Tyler is an outdoorsman and loves spending time with his family.
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