It doesn’t matter if you’re starting or growing your business, you know one thing to be true: access to money is a good thing.
You don’t want to go to extremes in regards to how much you borrow, but being able to get your hands on the money you need can make life as a business owner much easier (and less stressful).
So, this leads to an important question: what’s the best way to gain access to the money you require?
While there are many options, such as a variety of SBA loan programs, you may not want to head down this path just yet. Instead, a business credit card makes more sense.
Here are five of the top benefits of a business credit card :
1. Easy to Find and Apply
With hundreds of business credit card offers to choose from, finding one that suits your wants and needs should be easy enough. In fact, don’t be surprised if you come across several offers that pique your interest.
Furthermore, the application process can be completed online, allowing you to move forward in a time efficient manner. You may even receive an approval on the spot.
2. You Don’t Need Robust Revenue to Apply
It’s a common misconception that you need a large business with robust revenue to apply for a credit card.
As long as you’re flexible with what you’re searching for, you should be able to find a business credit card that suits your needs at the present time.
Tip: as your business grows, you can keep an open mind to securing another credit card when necessary.
3. Build a Business Credit Score
Just the same as your personal credit score, it’s nice to build a strong credit score for your business.
With a business credit card, you’re able to do just that. As long as you use your card and make on-time payments, you’re taking a positive step toward boosting your business credit score.
A higher business credit score will come in handy in the future should you apply for another type of financing, such as a small business loan or line of credit.
4. Easy Organization of Expenses
Do you have concerns about mixing your personal and business expenses? A business credit card allows you to easily separate the two.
Even better, it’s easier to track expenses, which saves you time during tax season.
5. Reward Points
There’s no better feeling than getting something in return for the money you spend on your business credit card. This is why you should consider a reward card.
In addition to the points you earn for every dollar you spend, some credit cards also offer bonus points just for signing up.
Tip: if you travel a lot, such as to visit clients, search for a travel rewards business credit card.
Final Thoughts
These are just a few of the many benefits of a business credit card.
If you’re intrigued by what this can do for your company, don’t hesitate to search online for the best offers. You may soon realize that this is one of the better financial decisions you can make.
