An easier way to make and track business purchases?

Anyone who owns a business knows how critical it is to monitor spending for expense tracking and money flow management. And whether you’re self-employed or operate a larger business with multiple employees, that’s not always easy to do with all the day-to-day responsibilities of running a business.

like any credit card, a small business credit card is a responsibility for business ownersThe good news is that you have a valuable tool to help right at your fingertips: small business credit cards. These credit cards offer many benefits for business owners, including:

  • The ability to separate business and personal expenses. If you’re self-employed, it’s very easy to have your business and personal expenses intertwined, making it very difficult at tax time.  With a credit card used just for business expenses, you can make tax preparation a whole lot easier and less stressful.
  • Facilitate and control employee purchasing. Do you have multiple employees, such as a sales force? With a business credit card, you can request individual cards for employees and set specific spending limits by cardholder. This makes it easy for you to track and reimburse employee expenses.
  • Accurate reporting. With a business credit card, you can view expenses by category and cardholder, making it easy for you to monitor your spending and uncover patterns. And if you have multiple employees with multiple cards, you can view spending by cardholder.
  • Today there’s no shortage of credit cards for businesses. Many offer unique rewards programs that can help yousave money and earn discounts on the services your business needs, such as airfare, gas, merchandise, and even cash back rewards.
  • The ability to build business credit. If you use a business credit card, you’ll start building a credit history in the name of your business. That will come in handy when your business grows and you need a line of credit to expand operations or a term loan to purchase equipment.
  • Access to emergency credit. A business credit card is a revolving line of credit–like writing yourself a business loan anytime you need one. Just remember that you pay interest on the funds you use.
  • Improved cash flow with grace periods on purchases. Most small business credit cards offer a 21-day grace period on purchases, allowing you to hold onto to your funds longer and maximize cash flow.
  • Value-added services and protections. Many cards offer special benefits to protect you and save you money. These include purchase security, travel accident insurance, auto rental insurance, and discounts at select retailers.

Of course, like any credit card, a small business credit card is a responsibility for business owners. Be sure to use it wisely and attempt to pay off your purchases. It’s also important that you shop around for the right card that offers the benefits that meet the purchasing and expense tracking needs of your business.

For more information on our small business credit card solutions, stop by your nearest branch.


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