5 Reasons For Getting A Business Card

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

5 Reasons For Getting A Business CardThe Internet along with e-commerce has created an expansive world wide infrastructure that has made it easy for individuals to set up and manage their own businesses. If we rewind back by a dozen years, setting up a business was a big deal. Not any more.

Within a day we can become the owner of an online store or a website, blog, forum, social networking community or perhaps a portal. Now a days most tech savvy netizens are sole proprietors for various types of web based businesses. Some of the serious ones go on to register a LLC (Limited Liability Corporations), hire people to expand their business and become their own boss.

While setting up the infrastructure for a business, irrespective of the size of the company, we can benefit from owning a business credit card. Here we presents 5 reasons for getting a business card early on.
  1. Create a positive credit history for our business right from the start - Akin to our personal credit history, it is a necessity to build a good credit record for our business. This will ensure its future growth. It may also help us to get loans at good rates when we plan to expand our business.

  2. Earn rewards - Business rewards cards allow cardholders to earn great rewards or cash back when making purchases in reward categories like airline, hotel, gas, restaurant, office supplies and more. Some of the perks are much more attractive than the ones that come with personal credit cards.

  3. Higher spending limits - At present many business cards offer a higher spending limit than a standard credit card. This aids companies to make larger purchases. It also gives business owners more room to carry a balance on the card. But a word of caution of here. We need to pay off the balances, so we should spend wisely and avoid impulsive purchases.

  4. Employee and company spending limits - If we own a company where our employees need to make purchases, then getting a business card is a boon. Using it we can not only set spending limits for the entire company, but for each individual employee as well. This might help us stay within a set budget and control the company's spending habits.

  5. Expense reporting - Almost all business credit card issuers now offer expense reporting (compatible with Quicken and Microsoft Money). This give us the ability to directly link the expense reports with the accounting data of our business. During the tax season, this feature can help us to provide exact amounts of our company's spending in various areas. It also provides useful backups for any receipts that may have been lost or misplaced.
Some cool business cards with great rewards or cash back programs are:
We too aspire to be our own boss and break free from the 9 to 5 shackles of our jobs. In that context, we are planning to set up our own side business and see how it goes. Meanwhile we wish you all the best for setting up your own business and getting a business card (early on) that best suits your needs.

Image Source(s): iStockPhoto

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