The XBanker
Business Financing eXpert
What Business Credit Card Is Right For You?
June 9th, 2008
Gerri, our resident business credit eXpert, was quoted today in the Wall Street Journal in a small business financing article: Pick The Right Credit Card For Your Business. Of course I’m biased, but I think Gerri’s insight was the most important in the entire article:
“Business owners should use credit cards that report to business credit agencies, such as Dun & Bradstreet or Experian’s business bureau, instead of the personal-credit bureaus. Reason being, you don’t want the business’s financial woes or big expenses to ding your personal credit rating.”
Rewards are great (personally, I’m a total points addict); however, the most important part of a business credit card is the ghost guarantee that they provide you as a business owner – which can serve to protect your personal credit from being dragged down by your business activities. I gave my two cents on the subject in a previous post regarding the importance of business credit cards.
Every day we help clients find the right business credit card; preferably one that reports to the bureaus and we help them prepare to qualify. The worst mistake you can make is to aimlessly apply to credit cards when you don’t know in advance that you have a strong chance of being approved.
Thanks for a great contribution on the topic, Gerri.
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