I’ve been running my online business for over 15 years now and when I first started out I was just a kid. I didn’t have any credit, so I couldn’t get a credit card. For the longest time I was using a credit card in my parents’ names and with all of the spending online they had some killer credit history! Soon enough I was finally able to get a credit card of my own and then the fun began!
Having a credit card for your online business is key. It’s not just about being able to plug your credit card number into your favorite web sites and order away, it’s about all of the services and perks that come along with having a credit card and how much easier it makes running your online business.
In this article I’m going to point out just a few of the reasons why I’ve always been a huge fan of using credit cards for my business versus writing checks and having payments come right out of my bank accounts.
The first reason why using a credit card for your business is crucial is that you get an extra sense of security with all transactions. Credit card companies are going to be on the lookout for any weird activity on your cards and will almost always be on your side if there are any disputes or issues with services you order. I order services from companies and web sites all around the world and I’ll occasionally get calls from my credit card company to see if the charges are authentic. This is usually when a rare order comes in that is oversees and doesn’t look ordinary. All in all, if you want to run a safe and secure business, credit cards can provide you with that extra layer of protection. For example, Visa Business cards offer lost or stolen card reporting and multiple layers of security.
If you are going to be spending thousands upon thousands of dollars for your business, you might as well get rewarded in the process. Years ago I was spending six figures a year in advertising costs and when you have a credit card that offers a rewards program or cash back, these numbers can really add up. With my points, I was able to secure some really amazing experiences like playing in Madison Square Garden with my Dad against John Starks and Charles Oakley for an hour… and yes, THE WHOLE Madison Square Garden was closed just for us to play on the court! How amazing is that!
Lastly, there is nothing fun about doing business taxes, but through the use of a credit card you can make the experience so much less painful. You no longer have to receive credit card statements in the mail and save all of your documents. Everything can be done online now. All I have to do is wait until the end of the year, print my year end statements and hand them off to my accountant. This is also a great way to see your monthly spending habits and keep up to date on where you are spending money. If you have a Visa Business card, you can sign up for Visa SavingsEdge, which gives you automatic discounts with certain merchants. These discounts show up as credits on your statements, making it easy to keep track of your savings.
As you can see, there are some really great reasons why you should be using a credit card for your business. Not only is it an excellent way to improve your credit history, but it will allow you to great expand your business and spending reach as well.
I am blogging on behalf of Visa Business and received compensation for my time from Visa for sharing my views in this post, but the views expressed here are solely mine, not Visa’s. Visit http://facebook.com/visasmallbiz to take a look at the reinvented Facebook Page: Well Sourced by Visa Business. The Page serves as a space where small business owners can access educational resources, read success stories from other business owners, engage with peers, and find tips to help businesses run more efficiently. Every month, the Page will introduce a new theme that will focus on a topic important to a small business owner’s success. For additional tips and advice, and information about Visa’s small business solutions, follow @VisaSmallBiz and visit http://visa.com/business.
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