Tuesday, August 17, 2010
The importance of building business credit need not be stressed if you are small business owner. You might already be aware of how a good business loan profile can help you climb the ladder of success with ease. There are several ways to build business credit and one among them is owning a business loan card and using it wisely. Enterprise bank cards can be obtained easily in comparison with other line of credits and probably that's why we find at least 65 percent of business owners having a business charge card. What could be more attractive than conserving cash while you are able to meet your overheads? However, just like your personal charge card, you need to be careful while using business credit cards and use them solely for business purposes.
If you are planning to build corporate credit through business credit cards, here are few other benefits they offer --
• Enterprise bank card aids to establish business loan when you use them wisely. So if your goal is to have a good business loan score, make your payments on time and do not misuse or mismanage enterprise bank cards. However, you need to do your business with people who report transactions to the credit bureaus.
• Running a business involves making a lot of purchases that cannot be done through personal credit cards due to the lower credit limit. Enterprise credit cards have a higher credit limit about $50,000 that makes purchasing simpler.
• With the use of business bank cards you can keep your personal and business finances well sorted. You no more have to break your head with transaction details while you are paying taxes
• business bank cards enable you to set limits for employee spending.
• You will be entitled to discounts on business travels or business purchases if you have collected reward points.