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Everything you need to know about business credit cards

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ciolookindia
 Everything you need to know about business credit cards

Signing up for a business credit card no matter what the business age/industry, is always a better and an easy thing to do. Having a business credit card gives you many benefits along with just spending money. But how do these business cards work?


Business credit cards function similarly to personal credit cards. In that they provide access to a line of credit directly at the point of sale, as well as bonuses, and benefits. Your business credit card, unlike a personal card, is designed to fund your company’s spending rather than your own.


Easier for Applying Loans

Unlike other credit cards having a business credit card saves you from a whole lot of work. While applying for a small business loan you need to have a strong revenue, different kinds of documents, and what not. Having a business credit card helps you lessen the number of questions asked by a bank employee. The application and underwritings are a matter of minutes when you have a business credit card, unlike applying for loan which takes days or weeks.


Credit Card Issuers Might or Might Not Affect Personal Credit Score

Even though the credit card issuers check your personal credit while underwriting process, using a business credit card might not affect your personal credit score. It all depends on the issuer, whether they score your card positive or negative or both to the consumer credit bureau.


Employees Can Use Your Business Credit Card

It is a huge advantage but giving this opportunity to an employee should be well thought about. Set alerts on your card to know about the card expenditure. Give the card to the employee who needs it the most. Keep an eye on the financial expenditure for better workspace.


Read More: https://ciolookindia.com/everything-you-need-to-know-about-business-credit-cards/


Source: https://ciolookindia.com/


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