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6 Tips to Help You Get the Most Out of Your Business Credit Card

June 9, 2016

A business credit card can be a great asset to any organization. Not only can it help a company gain access to high credit lines, but it can also provide the opportunity to earn great rewards along with the ability to maximize tax benefits. That said, a business credit card needs to be used in a responsible manner, else it may end up doing more harm than good. Here are a few tips you can follow in order to get the most out of your business credit card:

Use the Card's Interest Free Period to Manage Cash Flow: There may have been times when you've had to wait for your customers to pay you, before you could pay for essential business expenses such as new equipment, advertising or repairs. However, if you have a business credit card, you can use its interest free days to make important payments. Once your clients clear their dues, you can use those funds to pay off the balance on the credit card.

Always Pay Off Your Balance in Full: Interest charges, especially on large balances can easily get out of hand, so make sure that you pay off your balance entirely before the end of the interest free period.

Use Your Credit Card for Business Transactions Only: Avoid conducting personal transactions with your business credit card, as it may make expenses difficult to track and separate. Instead, make all your business payments through your business credit card – this way, all your business related purchases and expenses will be reflected in one place in your monthly statement. By streamlining your expenses onto one credit card, you can easily track specific projects or vendor relationships. Having a dedicated business card will also help you save time, maximize deductions and minimize tax burdens during the tax season.

Allocate a Business Credit Card to Your Employees: Business credit cards allow you to add additional card holders for free, and you can also choose different credit limits for different employees. By empowering your staff to make purchases through business credit cards, you can save valuable time, as you no longer have to spend time verifying staff reimbursements.

Earn Reward Points: You can earn huge rewards through business credit cards, if you use them wisely. Make sure you check your points balance regularly and redeem any points that are about to expire. Points should be used on rewards that will truly save the business money, such as free flights, instead of upgraded flights. However, ensure that you don't use reward points as an excuse to overspend. Formulate a business budget and limit your expenses to only those items that are actually needed.

Build Business Credit: By using a business credit card, you can build business credit. This can prove to be helpful if you plan to apply for additional credit or financing in the near or distant future.

$50,000 – $250,000 at 0% for 12 Months and More: If you need financing for a longer duration, our team of experts at Fund&Grow can help most businesses get from $50,000 – $250,000 at 0% interest for up to 12 months – and often more. We have a fee-based option and an option where you only pay for credit received. Want to learn more? Just give us a call at (800) 996-0270 and one of our expert consultants will be happy to walk you through the options.


Ari Page Ari Page is the CEO of Fund&Grow. He resides in Spring Hill, Florida with his wife and two children.

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