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Certainly small business start up grants information is
important to helping you succeed in your business. Here are some
resources to help you along the way:
Personal Vs small business credit card
By Rudy Hadisentosa
Credit cards seem to have become a fad today. Almost everyone has a personal credit card today (a lot of people have more than one credit cards). Though most of the people use personal credit cards for what they are really meant for, some are unable to decide on when to use which type of credit card.
So is there a difference in terms of what credit card – Personal or business, you use for what transactions?
The answer very clearly is ‘Yes’.
Some people use their personal credit card for paying the bills of the small they run. However, this is not what you should be doing. Personal credit cards are meant for just personal expenses and the credit cards just for expenses. So unless you want to utterly confuse yourself and spend hours together on sorting out and personal expenses, you should not create this confusion in the first place. This confusion is very easy to avoid and just requires some discipline on your part. Just use your small credit card for whatever spends you do for your and the personal credit card for the personal expenses.
If you feel that getting the expenses segregated is not much of a problem and you would rather use just your personal credit card,
you need to re-consider using a small credit card. This springs from the fact that the small credit cards generally carry a lower APR as compared to the personal ones. So it makes more sense to make your spends on your small credit cards. Moreover, the small credit cards also carry a reduced or no annual fee on them.
Also, the customer query resolution and support services are much better with the small credit cards than with the personal credit cards. The credit card companies always give preferential treatment to the small credit card customers. This is owing to the simple fact that small owners are much bigger consumers of such services than the personal credit cards. Obviously, the needs of an enterprise are expected to be more than those of an individual. Moreover, if the grows, it might create more customers for the credit card company (e.g. in the form of corporate credit cards).
There are times when one requires quick money for a short period of time. This can be due to some immediate purchase requirements which you are ultimately going to invoice your client to or some other unplanned/emergency expenses. In most of the cases you have a visibility of a month or so in which you are expecting your invoices to clear. Having the small credit card can be more beneficial in such cases (as compared to a personal credit card).
Moreover, as with personal credit cards, the small credit cards can also help in building your business’ credit rating. So when it comes to getting a loan for expansion, you at least have something to show for the credit rating.
CCN.com is a free online credit cards reviewand application website. We offer credit cards selection from visa,master cards, discover, american express and many others. We have quite some categories and hundreds of credit cards selection to fit your need. Apply for a credit card at CCN.com.
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