Taking Advantage Of Business Card Features
While for some businesses a business credit card may act as nothing more than a tool to access credit, others may be interested in the extras business cards can offer. Keep an eye out for these features when comparing your options.
Interest Free Period
Like most credit cards, business cards can offer interest free periods on purchases. These provide a certain number of interest free days on purchases, as long as the accountholder clears the balance by the due date each month. This feature can assist with cash flow, allowing businesses to cover purchases and then pay for them later.
Accounting Software Integration
Some business credit cards offer easy integration with accounting software. This can make it easier to account for all business spending come tax time.
Airport Lounge Access
Travelling frequently for business can be wearing. Having access to airport lounges as you travel not only makes travel less stressful and more comfortable, it can also allow you to work in peace as you wait for your flight. Check out card options that offer airport lounge passes if you or your employees travel frequently.
Aside from airport lounge access, business credit cards can offer any number of travel-related perks that would suit the frequent traveller. These can include complimentary hotel stays, upgrades, travel insurance and concierge services.
Benefits Of Business Credit Cards
Why apply for a business credit card for your company? Here are some of the main reasons why business owners opt to keep a business credit card.
It Can Assist With Cash Flow
As with any type of credit card, a business credit card offers access to credit, allowing you to pay for the things you need now, to then pay them off in the future. This can be extremely handy when running a business, especially when you can take advantage of interest free days.
It Separates Business And Personal Spending
Small business owners may be tempted to use their personal credit card for business spending, but this is not always a great idea. Using a business credit card allows business owners to keep personal and business spending separate, offering all kinds of benefits.
It Allows You To Set Individual Spending Limits
Business credit cards often allow business owners to have multiple cards under one account. Each card can be given to an employee who needs it, with spending limits placed on each individual.
It Makes It Easy To Monitor Business Spending
Not only can you monitor business spending as a whole, you can also track spending on each individual cardholder. Business credit cards typically provide individual statements, as well as a company statement, and may also provide real-time tracking via an app or online banking.
It Allows You To Earn Rewards
As we mentioned previously, business credit cards can provide an easy way to earn rewards on business spending. The rewards you earn could be used to treat worthy employees, to cover business travel or office essentials, or simply give you the rewards you want. Keep an eye out for intro offers providing bonus rewards points, as these can add even more value to the card.
It Offers A Range Of Handy Features
If you are paying for certain features for your business – such as airport lounge access or travel insurance – a business card that offers these features could help you to save money.
Ready to see what a business credit card could do for your business? Check out our selection of business cards, taking into account the various features on offer to find the right option for your business. All that’s left to do is apply!