Which Credit Card Is Best for Your Small Business?
If you're an entrepreneur and own a small business of your own, chances are that you've had to rely on a small-business credit card to either buy or finance the products and services you need most, at least at one time or another. But with so many business-branded credit cards available today, it's hard to know which one offers you the most benefits at the least risk.
Now the process has been made easier thanks to CardHub's annual Small Business Credit Card Study for 2013, the first year in which all major credit card issuers were transparent about their small-business credit card policies. Once again, CardHub has examined which credit card issuers offer the best deals for small business owners. However, this year it's through a new prism, one established by the CARD Act of 2009.
A landmark piece of legislation, the CARD Act was designed specifically to protect consumers from unfair credit card practices and policies and addresses such hot-button issues as interest rates, changes in terms, exorbitant and unnecessary fees and so much more. Since then, a number of issuers have chosen to use it as a guidepost in setting standards for their business-branded cards as well, wisely recognizing the intrinsic relationship between many small business owners' personal and professional finances.
"If a given issuer has not proactively adopted these protections for all of its customers or is not transparent about it policies, small business owners cannot use its business credit cards without worry," warns CardHub on its website. It's something any small business entrepreneur would do well to think about.
So before you apply for a new line of business credit, take a moment to review these key findings from CardHub's latest study. After all, knowledge is power...
Read More (from BusinessOpportunity.com)