Business Credit Cards 101

Will Talks Biz Podcast Episode 50 Business Credit Cards 101“Do not spend more than you know you can sell .”

As a business owner you get inundated with pitches about the benefits of business credit cards. While there are certainly advantages it is important to also understand the risks. Financial tools like credit cards could provide insulation against vendor issues, simplify tax preparation, and create valuable audit trails. All of those have the potential to make life easier and your business more efficient

Credit cards don’t come without a share of challenges, such as navigating the complex terms and conditions. Through diligence and careful planning you can avoid those potential pitfalls and harness the full potential of a business credit card. When done right, credit cards used as a tool can help a small business flourish.

During this episode, you will:

  • Discover the unexpected advantages of business credit cards, from safeguarding against vendor issues to streamlining tax time
  • Recognize the critical need for separating personal and business finances to avoid pitfalls and promote growth
  • Balance the risks and rewards of credit card usage, reaping the benefits of cashback and reduced fees without overspending
  • Implement effective strategies to escape credit card debt, such as prioritizing high-interest balances and utilizing 0% APR offers
  • Prepare your business for potential economic downturns by maximizing credit card usage and negotiating cash discounts with vendors

Learn to use credit cards strategically to grow your small business while avoiding interest and maximizing cashback bonuses. Don’t fall for the deception of business debit cards as free money. Take a listen as Cassie and I discuss the keys to unlocking the full potential of your credit cards and maximizing your profits.

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Episode Highlights

00:01:17 – Benefits of Business Credit Cards

00:02:25 – Setting up a Business Account and Credit Card

00:05:09 – Managing Credit Card Debt

00:10:29 – Credit Card Scams and Issues

00:12:24 – Understanding Credit Cards

00:14:00 – Managing Credit Card Debt

00:17:42 – Credit Cards During a Recession

00:19:45 – Final Thoughts on Credit Cards



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