Business Credit Cards - Providing Advantages for Small Business
Personal credit cards are the most carried credit cards found today. But the benefits of business credit cards are largely misunderstood by the general public. The advantages of a business credit card are numerous and can include access to car insurance, free travel, higher credit limits and much, much more. Another advantage of some business credit cards is that they will allow you to keep your personal and business expenditures separate while simultaneously enjoying the benefits of the corresponding reward programs.
Small businesses, in particular, have discovered that maintaining a company credit card can help in expensing daily purchase items very easily. With the advent of the Internet, applying for a business credit card, whether you are a small business owner or an employee of a large corporation, is very easy.
There are a number of advantages that are found in business credit cards today that often times personal credit cards will not offer.
Business credit cards offer additional benefits that include expense management reporting that small businesses in particular find very useful. When comparing business credit cards side by side, several of the very best cards allow cardholders to create customized reports with online expense managment tools. This gives business owners the ability to login to their accounts at any time to review and download expense activity anywhere that Internet access is available. You can view recent account activity, pay your bill online, check on reward points, and even receive account alerts by e-mail, cell phone, PDA or pager notification. Accounts can be setup to pay expenses and ongoing bills automatically with a commonly used Bill-Pay option offered by a few of the leading card issuing companies. Several card offers also feature the ability to download and integrate card statement information directly into QuickBooks, a commonly used accounting program for small business owners. If cardholders ever need to dispute a questionable charge, it can be done online or over the phone with no paperwork. Lastly, many business credit cards offer the ability to access credit lines from their existing account that provides significant financing flexibility for short-term cash requirements that will not require collateral as would a traditional bank loan.
In addition to this, many small business credit cards also offer significant reward programs that include cash back rebates, office supply and merchant discounts and air & travel rewards.
Applying for a business credit card can be done in 3 easy steps. First, applicants should take the time to search and compare the variety of business credit cards online utilizing the Internet where consumers can find a vast array of resource and comparison sites to aid in the selection process. After thoroughly comparing offers and selecting a card based on your specific criteria, cardholders can simply and easily apply for the selected credit card by filling out an online credit card application. Credit card issuers offer a safe and secure environment for cardholders applying online, which also allows cardholders to expedite the application process without any significant delays.
Can Credit Counseling Really Help?
If you have high debt, and are in trouble, you have probably heard the term “credit counseling,” but do you understand what it is? Oftentimes this term is used in the same sentence as debt negotiation or debt settlement, but actually, it’s a completely different process. With credit counseling, you will actually work with a professional credit counselor to pay off your debt in lower, monthly payments that you can afford.
The people most likely to need credit counseling are those who are receiving troubling phone calls from bill collectors, or whose accounts have gone to collection agencies. If you think that you may benefit from using a service like this, please read on to find out the best way to work with a credit counseling company.
First, you’ll need to be able to find a good credit counseling company, and not fall victim to one of the many credit counseling scams that are out there. Start by avoiding any ads that promise you quick fixes for your credit report. There is no such thing. Instead, look for a reliable company that is accredited by Consumer Credit Counseling Services.
Next, you’ll have to meet with a professional credit counselor, and provide them with all of the details of your debt. Don’t be tempted to leave anything out because they will need the information in order to create a re-payment plan made just for you.
Now, you can sit back and allow your professional credit counselor to work for you. They will contact all of your creditors and inform them that you are trying to create a plan that will allow you pay off your debts. They will work with them all and coordinate a re-payment schedule that you can live with. Many times, they will be able to lower your interest rates in order to allow for lower payments.
Some credit counseling services offer a debt management system. What is it? Instead of having to keep up with all of the payments yourself, you will have the option of submitting one lump sum payment to the credit counseling service and they will do it for you. One note of caution here: there have been instances of a credit counseling services paying their client’s payments late, and if that happens, your credit report will suffer for it. Knowing that, be sure to check out the company thoroughly, by checking references, before signing up for their debt management program.
What will you pay for all of these services? A reputable Credit Counseling Service will only charge you a small fee, somewhere around fourteen dollars per month. If they are asking for alot of money up front, they may not have your best intests at heart. Be on the look out for potenial scams.
You should also be aware that working with a credit counseling service can do some damage to your credit report. However, the good does out weigh the bad. After all, it’s much easier to explain an honest attempt to get your finances in order than it is to explain a bankruptcy or a credit report full of charge-offs.