![]() ![]() In short, it can pay to choose carefully, so that you receive the best rewards card possible for your needs. Some also provide cash-back incentives, repaying cardholders a percentage of their purchases. Rewards and Incentives-Many cards offer business owners rewards programs- including airline miles and shopping discounts-for using the card.It can simplify bookkeeping, help when using outside professionals to navigate an audit and pay taxes, and provide an easy way to monitor employee spending. Bookkeeping Assistance-In addition to receiving a monthly statement, most cards provide small business cardholders with online record-keeping tools to manage their accounts, including a year-end account summary, which can help a bookkeeper track, categorize, and manage expenses.Using a credit card makes online transactions easier. Online Ease-Increasingly, business owners make purchases and do business online with vendors, contractors, and suppliers.Financial Cushion-A credit card can provide business owners with a much-needed financial cushion when accounts receivable are behind or sales are slow and the business is short on cash.Business owners can access funds for purchases or cash withdrawal much more quickly and easily than having to find cash and/or use a checkbook. Convenience-Credit cards are the ultimate financing convenience.Easier Qualification-It can be easier for business owners who do not have a well-established credit history to qualify for a revolving line of credit with a credit card, especially if it’s secured, rather than a traditional line of credit or bank loan.
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