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May 24, 2001
By
Arlene Martell
Website:
http://www.1st-free-credit-cards.com
>
Does your Business credit card affect your personal credit?
With half of small business’ using credit cards to help meet their capital needs, the use of a business credit card is very important. How does a business credit card affect a business owner’s personal credit? That depends on if the business is a proprietorship or an individual in a partnership verses a corporation.
With a proprietorship or a partnership, the business credit card is still a personal responsibility. It is best then, to pay off balances monthly to help maintain a good credit history. Make sure any expenses are strictly related to business, as the statements will be used to as an accurate expense record at tax time.
A corporation is considered a separate entity from the individual so only the assets of the corporation are subject to liability. For this reason, on the application, full legal structure and accounting records are required when applying for a business credit card. Any new corporation would have to wait a period before the application is approved or may be given a secured business credit card to start with.
The business credit card for small business’ now can get many other perks such as travel accident insurance, employee liability insurance, collision coverage on rental cars, emergency cash, lost-luggage service and detailed reporting.
For
more information on business credit card - click here!
> About The Author:Arlene Martell is a successful author and the
publisher of http://www.1st-free-credit-cards.com. Your one-stop resource for credit reports, credit cards and online banking services. *Webmasters,
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