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Business credit cards allow businesses to preserve cash while still paying for materials and supplies to keep the business running smoothly. These cards offer several benefits like attractive sign-up bonuses, purchase protection, balance transfer, travel insurance, etc. Experts say that almost 65% of businesses are now using credit cards for business payments and purchases. The number continues to rise in 2022 and beyond. Since there are several credit cards with enticing business rewards and perks, this is the right time to apply for your own business.

Before you sign up, below are some perks and benefits of business credit cards you must look for to streamline business finances and save money as well.

Bonus earning categories

Just like personal credit cards, there are many business cards that help entrepreneurs earn bonus points in several categories while buying materials and supplies. While applying for a business credit card, make sure it earns free rewards, bonus points, and mileages where you spend business money most. Some credit cards even offer flexibility when businesses need to maximize their purchase activities. You should also ask the issuer for a detailed list of perks and bonus earning categories to make an informed decision.

Debt Management

Along with financing business purchases, you can also use your business credit card to manage your debt. Some credit cards offer a balance transfer feature that helps businesses consolidate credit card debt by transferring the balance of other cards to low interest (or 0% interest)credit cards. Credit card balance transfer involves moving debt or balance of an existing card from one to another (that usually comes with a 0% introductory period). It could be a great way for businesses to pay down the debt of expensive cards and save a lot of bucks on the interest.

Company-Specific Rewards

Since personal credit cards may offer benefits like air miles that are redeemable for free air tickets, business cards go above and beyond to offer better company-specific rewards. Business credit cards come with huge travel rewards bigger cashback and huge signup bonuses. Because business owners are more likely to spend on traveling. The best thing about special perks is that they are tailored to the individual needs of your company. If you travel often overseas, it is not difficult to find a credit card with huge travel rewards and points.

Custom Spending Controls

Did you know that you can keep track of employee spending habits? Yes, you can. You can allow your employees to use specific cards for business purchases and payments. This helps you clearly see where they are spending business money and what the business money is used for. A credit card issuer may also allow you to set spending limits for authorized employees. This is also useful to develop a credit card policy within the business to keep workers accountable for their spending.

Travel and purchase protection

Business credit cards come with travel and purchase protection perks just as personal credit cards offer. Some specifically designed for businesses have no foreign transaction fees, cell phone protection, and extended warranties. In this way, businesses can save a business money in many ways. Your business can also enjoy other perks like free travel assistance services, access to exclusive lounges and purchase protection, etc. by applying for the right business credit card.

Bottom line

In this highly competitive business landscape, there are several reasons to apply for a new business credit card. However, you should look for the key benefits and perks in your credit card as mentioned above. Find a credit card that not only helps you earn free rewards and points but also helps you stay on top of business finances. Comparing different business credit cards is a good idea to pick the right one that comes with enticing perks and rewards tailored to your business needs.


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