The reasons behind opening a business credit card may be straightforward to some, but many business owners never pull the plug because they’re unsure whether now is the right time. If you’re a seasoned business owner or on the newer side of things, a credit card can be a game changer for your business. Keep reading for a list of reasons why it may be time to open a business credit card!
Gone are the days of borrowing money from your own bank account to fund inventory purchases, marketing expenses, or equipment upgrades. Instead, you can use your business credit card for business purchases and leave your personal bank accounts for any personal expenses that many come up. It’s a great safety net to have.
Since a business credit card allows you to keep your personal and business expenses separate, it simplifies your accounting, tax prep, and financial reports. At a glance, you can get a clear picture of how much money you’re spending on your business which is also super helpful.
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Many business credit cards offer rewards and incentives like cash back, travel rewards, discounts, and more. If you’re going to spend the money anyways, you might as well get something out of it, right??
The benefits are great, but you’re probably wondering if now is the right time to open a business credit card.
I personally use and recommend Chase business cards. Chase offers multiple cards and each has its own set of benefits and rewards. When choosing your card, pay close attention to annual fees, percentages of cash back, reward limits, categories you get cash back with, bonus cash back for new accounts, and more.
Click here to use my referral link to apply for your Chase business card!