As I always say, only do this if you are actually good at managing credit cards though. Getting a credit card for any reason is not worth it if it just leads to credit card debt.
A business credit card has so many positives, and I only recently realized this. I should have done this years ago as it has helped me earn money and it has made life a little easier as well.
Below are three reasons to have a business credit card. If you are currently only using a personal credit card, cash, bank account, etc., then you should continuer reading!
1. The rewards points can be great.
For business credit cards, the rewards are usually a little bit better than with personal credit cards. I recently signed up for a business credit card and received $875 for signing up and using it just like how I normally would. That’s a decent amount of money, and I was even able to buy a new laptop with that!
I’ve personally noticed that business credit cards have much higher sign up bonuses. There are many business credit cards like the one that I mentioned above that offer great sign up bonuses.
Another great positive is that you may be able to get two of a similar credit card and earn double the bonus. For example, I have a personal Southwest credit card and I also have a business Southwest card. This way I can earn the great sign up bonus twice.
2. Small businesses can get credit cards.
There’s a myth out there that you have to have a big business in order to qualify for business credit cards. The truth is that for many business credit cards, they are not strict with what kind of business uses their card. Usually they do not require an EIN, proof of your business, and so on.
So, even if you just have a small business where you occasionally sell items from your home, you may in fact be able to get approved for a business credit card as well.
3. It can help you keep expenses separated.
By having a credit card dedicated to your business expenses, it can help you keep your business and personal expenses separate. You can use your credit card for strictly business purposes and that way you know exactly what is business-related. This means less to go through when tax time comes rolling around!
Do you have a business credit card? Why or why not?