BUSINESS CREDIT CARDS INFORMATION
Please see information below on Business Credit Cards.
Business Credit Cards
It doesn't matter what size your business, you could benefit from a business credit card. Even if you have no employees you can manage your business expenses more efficiently with a dedicated card to do the job.
What are Business Credit Cards?
Business credit cards are credit cards aimed specifically at businesses – large or small. Large corporations rely heavily on business credit cards to manage employee expenses and control spending across departments and regions.
Small business – even one-man companies – can use business credit cards to effectively separate business and private expenses, and to better manage cash flow.
What are the Main Features of a Business Credit Card?
All the main standard features apply to a business credit card, including:
- Credit limit (suited to your business)
- APR
- Annual fee (may not apply)
Most business credit cards carry extra features, designed to benefit you and your business, including cash back programs or reward points. Many cards carry a $0 annual fee and introductory periods on interest and other fees.
Who Can Apply?
To apply for a business credit card, you may need to provide some background information on yourself and your business. You may need to provide proof of your income – and your business turnover.
Other requirements are likely to include:
- Minimum age 18
- Minimum income
- Permanent residency in Canada
- Company information
- Good credit score
Because all credit card offers can vary, please find out the requirements before you make an application. This can save valuable time and energy – and avoid disappointment.
What are the Benefits?
The benefits from using a business credit card are clear – you can better manage your business expenses, control employee spending (if necessary), enjoy better spending power and benefit from a range of great reward programs.
You may also benefit from receiving no annual fee and a low APR (though this may not always be the case).
Please Note: www.whichwaytopay.ca is not authorised to give advice under provincial and federal regulations.
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