Tuesday, June 22, 2010

Understanding Business Credit Cards

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Although business and personal credit cards are relatively similar in terms of general purpose, business credit cards also have a number of additional features which allow businesses to keep control and track of company expenditure.

Business cards are a great way to take care of everyday business expenses without the need to carry cheques or petty cash. A business credit card is issued in the name of a business and the debt is the responsibility of the company and not the individual using the card.

Company spending is channeled through a single account and management are provided with reports which include itemized listings of purchases. Controls can be used to limit the amount each authorized person can spend and restrictions can be put in place to prevent misuse such as cash withdrawals from ATM's. Simple features like these give business owners the peace of mind they need when it comes to one of the most important parts of a business - the cash flow.

Just like personal cards there are a number of options to choose from including low rate company credit cards, cards with large rewards and credit cards with interest free periods. Business Credit Cards may also come with complimentary features such as insurance and banking discounts.

Company cards are usually cheaper than cheques, more secure than carrying large sums of cash and provide separation of business and personal expenses. In our increasingly cashless society, they can also help save time and money with everything from online shopping and bill payment to corporate hospitality.

When it comes to choosing a business credit card, find a credit card which complements your business needs. Don't be afraid to shop around for the best deal or negotiate with your bank for a better deal. By evaluating and understanding your monthly expenses and business requirements, you will be able to determine a card which best suits your business needs and gives you the flexibility and control you deserve.

Credit Card King - http://www.creditcardking.com.au - Australia's leading credit card comparison site.

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