Business credit cards can be a handy tool for business large or small. Like Some business credit cards offer some of the same benefits as personal credit cards. When comparing credit cards, whether business or personal, there are some basic features to bear in mind to maximize your benefits. These include some of the following: The Annual Fee For most business credit cards there are two fees, the company fee and the per card fee. Some credit card companies/banks do not charge an annual fee so a comparison is definitely important her when deciding on the type of card to select. However, it is important to note that the higher the annual fee on the credit card the higher the credit limit. Finance charges Because credit card companies use different yards by which to measure finance charges, it is important that this is taken into account when deciding on a card. Ask if the charge is based on an average daily balance or not. The APR (Annual Percentage Rate) Check if after the introductory period is over if you will be placed on a fixed or variable APR. The difference in interest rate between the two can be significant. Rewards and rebates Many business credit cards offer cash back rewards; others offer gift certificates, and bonus miles. Is balance transfer available? Balance transfer can be a great way to minimize cost; so do check if this available. Query if there are any fees applied to balance transfer. Value of liability protection Since business credit cards are used by staff members of a company, it is important to know whether or not there is any liability protection attached to the card and if yes, how much. Business credit cards can be easily abused and this will help protect the business against unauthorized charges. While not all business cards offer this benefit, it is worth considering before making a final decision whether or the card allows you access and manage your account online. |
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