Business Credit News and Advice

For small business owners, the tight credit market can mean more than delaying the purchase of a new car or home—it can make or break your business. Banks are shrinking business lines of credit and saying “no” to new business loans—even for borrowers with impeccable credit loans. In these tough times, business credit cards can offer business owners, entrepreneurs, and even freelancers or professionals who travel for work the large credit lines and low rates they need.

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If you are an entrepreneur, freelancer, or already a small business-owner, perhaps you have wondered: Is a small business credit card right for me? In a word, probably. Why? Of course, it is smart to separate your business expenses from your personal expenses, but that’s not all. Business credit cards offer some substantial advantages versus consumer, or personal credit cards:

This collection of frequently asked questions about business credit cards is designed to help you decide whether a business credit card is right for you and help you with the selection of and application for a business credit card. Questions addressed include the difference between consumer and business credit cards, what you need to apply for business credit, and how carrying a business credit card affects your credit and the credit of any employees you also put on the account.