How To Choose Your First Biz Credit Card
The Closet Entrepreneur:
* Check out the interest rate and understand what you’re getting after any great introductory offers expire.
* Figure out how much you can afford to pay for all expenses each month and understand the worst-case scenario if business becomes slow.
* Read all the fine print and understand the consequences of what happens when you pay late or not at all.
* Do not just accept every single credit card offer that comes into your mailbox; keep in mind that too many inquiries into your company’s credit history can negatively affect your credit score.
* Check out the rewards program and consider the pros and cons based on your own business needs. Perhaps your company may benefit more from the card that offers a substantial discount on office supplies instead of airline miles.
* Figure out the various options for dealing with multiple credit card users on your business account. Many cards will allow you to place limits for spending on individual cards and will also help to track and analyze expenses based on each individual card.
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