Asic Credit License No:401965
COSL Membership Number: M0009285
Credit Cards
Latest Articles
- Mounting Credit Card Debt In Australia - A Sign Of Problems To Come?
- Low Interest Balance Transfers For Life!
- Prepaid Australian Credit Cards Are Booming!
- Watch Out For Interest Rates Hikes On Credit Cards
- Cheaper To Use Your Credit Card In Australia Soon?
- Credit Card Comparison Made Easy
- Before You Apply For A Credit Card Read The Fine Print!
Find all the features listed to make the best choice possible.
 0% Introductory Rates for 4 months~1.25 points per $1 spent on purchases~ Comp travel insurance~ Half-price Annual Fee 1st year. |
 After 4 months Balance Transfer Rate is 21.49% and Purchase Rate 20.74% |
Business Credit Cards
Business credit cards work in a very similar way to personal credit cards but they are issued in a company's name rather than a private individual's name and the debt is the sole responsibility of that company.
Possible Benefits of a Business Credit Card
A Business Credit Card has many benefits for the major stakeholders.
A small business benefits by building a credit history of reliable borrowing against their name. They can also decide on spending limits for the card holders which implements a sound and easily police-able expenses policy across the company, for travelling executives or engineers for example.
The accounts team within the business benefits from the reports that are provided by the credit card company – itemising all expenditure and making it easier to reconcile accounts; plus the fact that they don’t have to reimburse expense claims for things like hotel rooms, meals, travel or petrol costs, as the staff can use their credit card to pay for these.
The card-holders benefit because they don’t need to use their own cash and claim it back later; this means that they don’t lose interest on the money in their own account and also that they don't have to carry as much cash around with them, which increases security for them. It's also simply more convenient to use the card to pay for business expenses.
Possible Downsides of a Business Credit Card
There are really not too many negatives of business credit cards provided they are used as intended.
If you take time to shop around, compare features such as fees, APR and reporting then you should be able to land one that's suitable for your business. Note that annual fees may be slightly higher than personal credit cards.
If you apply for a charge card like Diners Club or Amex, ensure that cash-flow is always sufficient to pay off the entire balance each month because there are high fees for late payment.
As with a personal credit card only consider a business credit card if your accounts are in order and you can make your monthly payments as, otherwise, interest starts to mount and affect your small business.
The Lower Bills Promise
We can't promise you'll be approved but we can promise to provide you with the right information so that you apply for the best credit cards possible!
