The Positive and Negative Side of a Credit Cards for Business

If you are a small business owner, perhaps you may be considering the possibility of using business credit cards to finance your company. Some entrepreneurs may recommend business credit cards while others may say that it’s completely unnecessary. So, how would you know whether or not it’s suitable for your own business?

In this post, we present the pros and cons of using credit cards for business to give you a better insight on the issue.

The Pros Of Business Credit Cards

Ease of application. Undoubtedly, it is much easier to apply for a business credit card than to acquire a loan. Application can be done online and approval usually takes just a few minutes. The criteria of eligibility are not as strict as compared to business loans. In fact, you can instantly get approved even if you are a new or start-up business if you have impressive personal credit history. On the other hand, if you have poor credit, a secured business credit card is always an option.

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