The Complete Truth about Business Credit Cards

Written by promotiondept

September 26, 2018

Lt Updated: Sep 17, 2013
Business credit ds make it much eer to keep up with purches, and the credit line can be a welcome option when you need to make a large purche. Here’s what you need to know about business credit ds.

Small business owners don’t like to admit it but far more than you might think rely on credit ds to solve short-term cash flow issues. It’s not uncommon to use credit ds to pay employees or vendors, or for emergency purches that don’t fall into the company budget.

If you’re in the market for a business credit d or one to replace an existing d, keep these points in mind you shop.

Your Business H a Credit Score

Did you know that just you, the individual, have a credit score, your business h a score of its own? It’s called your Paydex score, which is issued by Dun & Bradstreet. Just like your personal credit score, the better your Paydex score, the more likely you are to receive business credit with more favorable terms.

Your Personal History Does Affect Your Business Credit

You may have registered your business largely to separate your business sets from your personal but especially in the ce of small businesses, creditors know that your business and your personal finances are, in actually, connected at the hip.

Although you shouldn’t do it, if you’re like many business owners, you move money from your business account to your personal account needed and sometimes purche business items with your personal credit d. Lenders know that and that’s why you have to keep your personal finances in check if you want to qualify for a business loan.

The D Act Doesn’t Apply to Business ds

The CARD Act w a sweeping piece of legislation that many said, leveled the playing field for consumers and forced credit d issuers to enact terms that were more customer-friendly. Among the changes, it ended retroactive interest rate increes, requires banks to give 45 days of notice before hiking interest rates, and other provisions widely seen a win for consumers.

But those rules don’t apply to business ds. d issues can and will hike your interest rate if you pay late making it imperative that you use the d responsibly. Most , keep your balance to a minimum so you’re free to cancel the d if the issuer changes the terms.

How Do I Find a Business Credit d?

If you know how to find a personal credit d, you’re well on your way to finding the perfect business d.

First, analyze your spending needs. Will you use it for those times when customers aren’t paying you ft you need to pay vendors and employees? If you need a d for relatively small expenses that are paid within a month your ch flow increes, a rewards d may be your best choice. Be you’re paying the balance rapidly, the interest rate isn’t .

Then, the question to k is, what kind of rewards d? Travel rewards? Ch back? Also look at the value of the points. For example, if the d awards you one point for every dollar spent, each point is probably about one cent. Look for ds with a higher payout or choices that have double or triple points for various types of purches.

Finally, if it h an annual fee, don’t automatically say no. If the the d offers more than makes up for the annual fee, it may still be a good value.

Larger Purches

If you know you’ll use your d for larger purches where you’ll pay the balance over time, the d’s interest rate becomes the critical component. Look for ds with low interest rates or if you have a balance on a previous d, a d with an extended introductory low interest rate is your best choice.

But if your purches will truly be large, a credit d should be your lt resort. You might not be able to secure a traditional business loan at a bank but lenders like Kabb may offer better terms without the qualification requirements of a bank.


Just like in your personal life, credit ds can be an effective tool to solve ch flow issues in your business but taking on debt is a gamble. You’re suming that your business will grow enough to allow you to pay the debt sometime in the future. You hope that’s the ce but if it the unforeseen happens, how will you pay the debt?

A business credit d is a tool. Use it properly and sparingly.

© 2013 Attard Communications, Inc., DBA Business Know-How®.  May not be reproduced, reprinted or redistributed without written permission.



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