There have been a lot of changes in the industry since the introduction of the personal e-credit cards in the UK in the mid 1990s. More and more businesses are looking at business credit cards, for their employees. That’s because many people don’t get ahead with the cash flow, so they end up paying more towards the card compared to the employee or debtors.
These cards have many features and are geared towards businesses that are struggling with cash flow. There’s a 0% APR, no annual fee, some rewards, balance transfers, secured credit, cash back programs and access to 0% balance transfers for up to 15 months. Some have access to both unsecured and secured cards in case of emergency.
Generally, you’ll be asked to register as an employee of the business under the seal of the company or be provided with their driver’s license at an annual fee of around PA within the next few years. There’s usually a set number of times to register an individual and so at the end of each set period you’ll be asked to sign a contractual agreement and pay the equivalent of around $12 for the initial period of participation. The cardholder has their own account with the company.
There are no real set up fees for the business credit card. There is some annual fee related to new accounts, however. You want to make sure you are earning as much as you can on the card. The APR is a good number to assess where the payment you’re making will end up if you pay off your accounts too close to a time period.
The Personal Card
The Personal Card is a good choice for large companies and they offer a variable 1% APR and a low introductory rate for first year. There are no annual fees, and if you do your bit you can make that very low by transferring your personal cheque payable to the company and this will stay on your account until you eventually get it reduced to nothing.
Other Things To Remember
Make sure you understand all of the terms and conditions contained therein before use, otherwise you may just end up having to explain to your family and friends what a fantastic, easy, secure and absolutely FREE credit card is all about. It can put your lives at risk and be a very expensive, stressful and unnecessary expense.
It can make life hard for some and sometimes impossible to keep from doing everything in your power to to do to make sure nobody is hurt.
Business Credit Cards: A Simple Way To Benefit From Low Interest Rates And Helpful Credit Cards
Business credit cards, on the other hand, is for those that are looking for low interest credit cards and not as alternative credit, or for those that have low credit limits. There is much to love about business credit cards, especially those that are offered with introductory offers or cash-back options and attractive rates. There are many drawbacks to any business card that offers you low interest rates and a low introductory offer. But if it is one that you sincerely desire, here are a few things to consider before you apply for one.
1. you need a good credit score. This may be true for most cards, but you cannot guarantee a low credit score without having good credit. As many people know, obtaining a low credit score requires being diligent, and always keeping your credit score under 60% can sometimes go wrong. Of course, you could try simply updating your credit report, but having poor credit takes a long time to build. The goal should be to maintain or improve a 50 or 60 or even 100 on a one time use.
2. you use one business credit card while you do not use other business credit cards. This could leave you open to paying cash advances or even overcharges on future purchases. However, it is still wise to do this, since there is a history of making the payment. It does not matter whether these fees are permanent or temporary. You should focus on building your credit score by paying off older statements.
3. you have a small business or a car dealership. If you have a small business, then avoid choosing one low interest credit card over another. One low interest credit card will get you where you need to go.
Most of the above may sound like sound strategy. They are all very effective strategies in working their way out of debt. But the point remains: if it has not been tried yet, it is. As long as you have the discipline and the willingness, you can make it work for you. And it is going to work.
4. you have good credit.