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Why You Must Use A Business Credit Card

November 27th, 2007 by Shenron

Having a business credit card is a good option if you want to separate your company expenses and your own expenses. Many small business owners find it hard to keep their cash flow separated because they’re using one credit card for pay their own expenses and their company expenses.

When you used one card for two functions, you’re kind of found it difficult to keep them separated, especially when you need to write down each credit report from your own credit card into your business accounting. You will spend more time to categorize which expenses belong to your small business and which one is not.

By having a business credit card, you don’t have to do that anymore, because you’ll receive different reports of credit cards at the end of the month. You could easily write down your business expenses in your accounting books or software. Not only that, you could easily keep tracked what are the expenses that you have when you use your business credit card without struggling to find out whether you buy it for your business or for your personal expense.

There are many good reasons that make the small business owner to get the business credit cards. One of them is keep their own cash and the business cash separated. As this will help them save more time review the monthly credit card report and calculating the tax.

The other reason is they want to build a good credit report for their company. If they have a good credit report, the clients would likely to trust them and their bank would likely to give them more loans to expand their business. This can’t be happen if you use your own credit card to build a good credit for your business. Even though you have a very good credit report by your own name, it doesn’t have any relationship with your business credit report.

But, your business credit card will get a huge impact from your credit. If you have a bad credit history, you’re likely doesn’t receive enough credit limit for your business credit card. It’s because as the owner of the company, the bank wants to know your credit history first before they can give you your business credit card. Maintain a good credit report will help you to get a high limit for your business credit card.

Building a good credit report will help you dealing with the bank when you need loans for your business. The bank most likely to give you the money you need if you have a good credit, so they don’t have to worry whether you can afford to pay the loans on time or not. Also, you could prepare a good credit for the next improvements of your company by secure the business loan that you’ll make.

Posted in Business Cards | | 0 Comments

Advanta.com

November 12th, 2007 by Shenron

Through Advanta.com, you can easily and quickly apply for one of the business credit cards provided by Advanta. Advanta is a company that issues business credit cards and it knows what it’s like for small businesses. In fact, they started as a small business. Jack Alter, the company’s founder, established his enterprise in 1951 on only $30. His ‘bank’ was his extra bedroom. From then to now which has been 56 years, Advanta has grown to be one of the largest business credit card providers in the United States. And the best aspect about them is that they haven’t forgotten about the little guy; the mom-and-pop businesses that need a bit more help to get themselves established. Advanta.com is a resource that all business owners, whether big or small, should keep in mind.

Advanta Business Credit Card

What services does Advanta.com specifically offer in regards to their credit cards? The most popular service is their line of business credit cards. These are no different than regular credit cards. They often have an introductory APR of 0 percent, cash back or travel rewards and a 7.99 fixed APR. In terms of credit limit, this will depend on one’s credit score, but generally business credit cards offer more generous limits than personal credit cards because businesses have greater expenses than individuals. If you need a card that lets your business do the things it needs to do, then Advanta can probably help you out.

The other major service offered by Advanta.com is in the area of merchant accounts. What are merchant accounts? A merchant account is a special type of financial account which a business has to have if they want to accept credit cards. The merchant account available through Advanta is done through Express Merchant Processing Solutions, (also known as EMPS). This is a separate company that helps facilitate the processing of merchant accounts. Like their colleague they have been in existence for decades, helping small businesses get their foot through the door. EMPS offers 24-hour/7 days a week customer service, advantages in terms of credit card settlement, (including electronic deposits), fraud protection, loss prevention and a generally fast card authorization service. Their merchant account package even offers a free debit pin pad, a device in and of itself that could cost hundreds of dollars. Indeed, a business cannot lose if they decide to use EMPS. This is usually combined with a business credit card to create an unbeatable combination.

To apply for any of these services, all a person has to do is visit Advanta.com. From there they need to select the ‘Apply Now’ tab which is at the top of the screen. At this point the next step is to enter in very basic information, including the name of the business, the address of the business, the phone number of the business, the date of birth of the business owner and finally the business owner’s Social Security number. Once that data is entered in, (which should take no longer than a minute or so), the person clicks ‘submit’ and they’ll know within minutes whether or not they’re approved. It is important to note that in order to apply for a business credit card a person must have a legally-bound enterprise in existence. This entails getting a business name, a business license and any other licenses that might be required in that person’s state. If they do not have these things, they will be ineligible for any business cards, whether it’s through this company or at another company. It is for this reason if a smaller business owner hasn’t taken the legal steps necessary to get their business to the ‘next level’, they need to go on and do so.

Posted in Credit Cards, Business Cards | | 0 Comments

Visa Business Cards

November 10th, 2007 by Shenron

If you run a business, a Visa business card is a great choice. You will have the advantage of many different card benefits that normal Visa holders do not have access to and are specifically tailored to the business person of today’s busy lifestyle. The Visa business card gives you benefits such as discounts on certain business products and services, auto rental insurance, emergency cash disbursement, and purchase security among many other benefits. You will also have very detailed business reports available online for review whenever you need them. This courtesy can help you keep track of your finances in a much more organized fashion.

 Visa Business Cards

Discounts on hotels and car rentals can really add up for the business person who travels a lot. With a Visa business card, you can get between 5 and 15% discounts on all your favorite hotels and car rental services such as Alamo an Avis. You can get free cell phones, discounted plans, and up to 50% off many different cell phone providers and ISPs. This can really help keep your business out of the red and equal many thousands of dollars each year. Most business owners understand that outlying costs like travel are what really sap the dollars out of the company. If you could take advantage of some benefits to reduce the effect of those costs, then why wouldn’t you?
If you choose to sign up for it, Visa business cards offer a service that can take a large burden off of you and your business staff. Business cardholders have the option of using the Visa Information Source Select which tracks and categorizes all of your spending, tracks all of your employee expenses, gives you alerts if someone goes over budget, and gives you reminders when bills are due. This is very convenient and cheap and could eliminate hiring additional accounting personnel if you have a small business.
Emergency cash disbursement can be vital if you are on a business trip and have lost your card. Visa business cardholders get the ability to have a replacement card in 24 hours but while you wait, you are eligible to have cash wired to you straight from your account. This could mean the difference between sitting on a curb all night and being in the lap of luxury in a nice hotel. The Hilton almost certainly has a more comfortable setting than a standard, run of the mill motel.
Like many other types of credit cards, Visa business cards offer a point and reward system. Most business cards will match you 1 point for every dollar you spend. You are then able to redeem them online for many things that may be useful or just plain fun. You can get everything from airline tickets, hotel rooms, and even iPods by redeeming your points when you accumulate enough of them. Many banks will automatically give you as many as 10,000 points just for getting their specific Visa business card.
A Visa business card is a great choice for businesses of all sizes and can really help a small business as they learn the ins and outs of their trade. While you are getting your feet wet in business and learning the ropes, it is important to still keep an eye on the bottom line. When you choose this card, a lot of money can be saved if you have to travel all around the country or the world. If you have a small to medium sized business and have had trouble keeping all of your finances in order, this could be the best choice you could make.

Posted in Credit Cards, Business Cards | | 0 Comments

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