Ramp explains how business credit cards can help separate those expenses from your personal finances, have higher spending limits than personal cards, and offer tools to help build a business.
The article from MSN Money discusses strategies for maximizing the benefits of high-limit business credit cards. It highlights that these cards can offer significant advantages like higher credit limits, which are beneficial for managing large business expenses, cash flow, and emergency funding. Key points include choosing cards with rewards programs tailored to business needs, such as travel rewards or cash back on office supplies. The article advises on maintaining a low credit utilization rate to keep credit scores healthy, taking advantage of introductory offers like 0% APR periods for large purchases or balance transfers, and using the card's perks like travel insurance, extended warranties, and purchase protection. It also emphasizes the importance of paying off balances in full to avoid high interest rates, monitoring employee card usage, and understanding the terms of rewards redemption to ensure maximum value. Lastly, it suggests regularly reviewing card benefits as they can change, and considering the impact on personal credit if the business card reports to personal credit bureaus.
Business & Finance
Wed, March 26, 2025
