| If you have a small business, then not only can | | | | look for a business credit card with perks like |
| you apply for a business credit card, but there | | | | cash back, airline miles, or retail partnerships that |
| are several reasons why you should apply for | | | | offer discounts. |
| one. The benefits of a company credit card are | | | | Sites like and have comparison tools to help you |
| numerous: easy tracking and management of | | | | choose the credit card that best fits your needs. |
| expenses; giving employees lines of credit for | | | | Something else to find out up front is whether |
| their business related expenses like travel; and a | | | | raising your credit limit is a hassle. You don't want |
| decrease in the number of checks you write to | | | | to get slapped with fees for going over your limit, |
| pay expenses. | | | | so find out in advance what you have to do to |
| There are several important things to keep in | | | | raise your credit limit. |
| mind if you want your business credit card to | | | | A credit card in the hands of a responsible small |
| work for you and not against you. The first and | | | | business owner can be a great tool for building a |
| most important is using your business credit card | | | | company's capabilities and credit rating. And paying |
| solely for business expenses. Mixing in your | | | | an annual fee of $30 or so can be a good |
| personal expenses can cause problems at tax | | | | investment if the card gives you tools like special |
| time. If your taxes are audited, you might have a | | | | software to track expenses. This can be a big |
| hard time explaining how getting hair extensions | | | | help if you can't afford to hire someone to keep |
| was necessary to your scrap metal recycling | | | | the books. |
| business. | | | | One resource you may not know about is the |
| Go for the lowest interest rate possible. If you | | | | U.S. Federal Reserve. Their website has a great |
| plan to pay off the balance each month, this | | | | primer on credit cards with plenty of questions |
| becomes somewhat less important, but you | | | | and answers. You can find it at federal |
| should keep in mind the possibility of emergency | | | | Applying for a small business credit card can be a |
| expenses, such as bringing home an employee | | | | very prudent move as long as you are |
| early from a business trip. That said, if you want | | | | committed to using it with discipline. |
| to pay off the balance every month, you might | | | | |