Credit Card Inform
Business Credit Card
Business credit cards generally come in three flavors:
(1) A prepaid business credit card
(2) A traditional business credit card
(3) A business charge card
Business credit cards are funded by, or covered by, a business owner or corporation. They provide a means for employees to manage business expenses. They are very important for business travel, paying bills, and normal business expenditures. The billing statements come to the business itself, and not the individual, and payment is most commonly made y the business. However the business credit card is issued to an individual, and that individual may be tied to the business credit card. There are many instances where a business does not pay its credit card bill, and the collectors try to acquire funds from the individual. Be sure to find out your own personal liability before accepting a business credit card.
The prepaid business credit card is nothing more than a normal prepaid credit card, except it has been bundled up and marketed to businesses. They may have special features catered to businesses, which are not normally available with traditional prepaid credit cards. More information about prepaid credit cards, and how they work, is on this website.
The traditional business credit card is basically the same as a normal credit card, however spending limits, and the maximum balance are often much higher. Often, individuals with a business credit card may have unique spending limits, assigned by the business owner, to accommodate their spending needs.
Business charge cards, such as American Express, also function similar to a normal charge card, but with features that are suited for the needs of a business. American Express charge cards are very popular among businesses. More information about American Express charge cards is on this website.
