If you have been a business owners for a few years, you may want to look into getting new business credit card. The benefits and advantages of current lines of credit far exceed those from a few years back. You may even save your business some money if you switch to a new business credit card.
Let's look at some ways why choosing a new business card may be a good idea:
1. No Expiration Of Rewards - Running and maintaining a business probably takes up most of your time. Using up your rewards should not be a worry to you.
Recently, many lenders have been offering a "no expire" clause for the rewards you build on your new business credit card. You can allow the rewards to accumulate for as long as you need.
I think this is especially helpful for air miles.
2. Fixed APR Rates When Economy Is Struggling - Another reason why you may want to change in your old card for a new business credit card is the low interest rates offered during a struggling economy.
With a little bit of research, you can find an excellent fixed APR rate that will last for the entire length of the time you have the new business credit card.
3. Allowed Transfers - This goes along with number 2. If you do decide to get a new business credit card, look for one that allows balance transfers.
You will save a good amount of money on the new interest rate only when the lender allows you to transfer the balance.
4. Higher Percentage Of Cash Back - I recently saw a card with a percentage back rate of 5%. That is fantastic for a business line of credit. In the past, it was common practice to offer 1% back. I always hoped companies would offer a higher rate for being a loyal customer. They must have heard my thoughts and wishes!
I believe this is a great time to look for a new business credit card. You can find better reward options, rewards with no expiration dates, better interest rated fixed in for the duration of the life of the card, and you will save your company money by transferring all balances to a card with lower interest.
Finding a card with all of these options will take you some time. It more than likely will not be the first card you come across in your search. However, you have the right (as long as your credit is good) to change cards whenever you want. Now may be a good time to do it.
Shawn Casey Wants Business Owners To Understand The Difference Of Getting A New Business Credit Card [http://www.businesscreditnow.org/new-business-credit-card-watch-out-for-the-small-print.html] And Start Up Business Credit Cards [http://www.businesscreditnow.org/start-up-business-credit-cards-make-sure-you-choose-a-good-card.html]. You Can Apply For A New Card Even When Your Business Has Been Established For Years. To Find Out More Information On The Two Types, Read These Two Articles.
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