If you’re a business owner of any type, then you should have a business credit card. It’s a great tool to help with day-to-day operations, manage cash flow, and even expand your business at some point in the future.
Want to buy your home with a loan? Hope to lock in the best interest rates…or rent an apartment..or buy a car with a loan..or get the best credit card deals…or even the lowest cell phone rates? Credit Score!
Now if I was carrying that balance on a visible card, my score would be much much lower, which could increase the rate I would be getting on the refinance right now…or worse make it harder to get.
That’s why a business credit card is such a great friend. It will save your precious score when you’re racking up thousands of dollars as you expand your business (or some other really good reason to carry a large balance).