What is a Business Credit Card?
Also known as corporate credit cards, the business credit card is a credit account issued to a company. Individual cards are issued to authorized employees and officers of the company. In turn, these individuals are free to use the cards for purchases approved by the corporation. Depending on the type of credit account extended to the company, the business credit card may have an established credit limit or have no credit limit imposed. Businesses often make use of a business credit card in order to expedite transacting important business functions. For example, a salesperson who must travel to meet with a prospective client does not have to wait for the approval of a travel voucher or to get a cash advance from the accounting department. All expenses related to making the trip can be charged to the corporate card, then broken down and categorized once the trip is completed. Generally, companies who make use of these cards develop specific guidelines that govern when and how the charge
Basically, business credit card is for the business person’s convenience for consumption. Compared to the regular credit card, a business credit card has a high limit plus low interest rates. Depending on the manner of choosing, a business credit card may also bring a lot of automatic benefits. Since it is targeted towards businessmen or those people who are heading towards building a business, a business credit card can definitely benefit these small businesses. A business credit card helps the budding business by extending payments while improving the cash flow. Aside from bearing the image of a dependable credit card, business credit card boasts of having detailed reports and giving quality customer service as its major trademarks. Aside from having limits and low interest rates, a business credit card provides many alternatives and numerous credit options for small businesses. A business credit card also caters to large corporations that are crafted to aid those people who are star
Basically, business credit card is for the business peoples consumption. Compared to the regular credit card, a business credit card has a high limit plus low interest rates. Depending on the manner of choosing, a business credit card may also bring a lot of automatic benefits. Since it is targeted towards businessmen or those people who are heading towards building a business, a business credit card can definitely benefit these small businesses. A business credit card helps the budding business by extending payments while improving the cash flow. Aside from bearing the image of a dependable credit card, business credit card boasts of having detailed reports and giving quality customer service as its major trademarks. Aside from having limits and low interest rates, a business credit card provides many alternatives and numerous credit options for small businesses. A business credit card also caters to large corporations that are crafted to aid those people who are starting with their o
The intention of a business credit card is to simplify the administration of your company. Here are three ways it can benefit you: 1. It can help when employees need to buy products or services for the company. It would be too complicated to give them determined amounts of money and maintaining a control of how much they actually spent. 2. It is invaluable when your customers wish to pay with a credit card. It is much simpler for your administrative process to have a business credit card which brings a series of services that can be linked to your sales process, thus, reducing bureaucracy and unproductive costs. 3. Since the business credit card is tied to the business, it can be used for determined discounts reserved only for special kind of clients. Let’s say that you wish to buy some laptops for your sales force and are looking for some discount. It’s probable that some of the big manufacturers, like HP or Dell, have deals with a particular business credit card. By buying the machin
