Canadian Small Business Credit Cards

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Business credit cards? That's right. Credit cards aren't just limited to the consumer field nowadays. Businesses get many time-saving and cost effective advantages by using business credit cards. We'll look at some of them here and show you that applying online for a business credit card can be a quick step ahead for your business.

Business credit cards are introduced

Everyone's familiar with personal credit cards. They've become an accepted part of our lives. In fact, it's hard to go through life these days without a credit card. It's a sign that you're financially responsible – that you've proved to a credit card company that if they take the risk of letting you buy something now and pay later.

So when the major credit card companies came up with the idea of a business credit card, it was accepted immediately. Visa, MasterCard, American Express and Discover, all introduced their own version of the business credit card. They all offered their special deals, like a low interest rate, or a low interest balance transfer. The much-published reviews and ratings all made comparisons of all the best business credit card offers available.

Nobody really won. Now we don't mean that business credit cards were a losing proposition, we just mean that competition was good, with all sides sparring for the knockout punch that would put them on the top of the list. The real winner of this fierce competition was the consumer – the business.

Of course, the credit card companies weren't hurting, either. The idea of business credit cards was originally conceived to produce profits. After all, businesses spent a lot more money than most consumers. So there would be that much more money to be made. So really, if you look at the whole picture, everybody was a winner. And that's a good thing. That's what makes the world go round.

What can businesses get out of business credit cards?

Picture yourself as the accountant for a business. It could be large or it could be small. Nonetheless, you're in charge of keeping the company books in order. And that includes keeping track of expenses. Now, if there are salespeople, there are probably going to be a number of expenses that they incur over the course of their business.

The salespeople use their personal credit cards, or they pay cash, for their expenses. Then, every month, or twice a month, or whatever arrangement had been made, you get a pile of dog-eared receipts dumped on your desk with a request for a reimbursement check. That's a lot of work for you!

Now, fast-forward to today, when your company has a business credit card. Everyone on the sales force has a business credit card for your business account. They use the card to pay for their expenses. When the monthly statement comes in, it's itemized, each expense for each salesperson. And it's even separated into reference categories of your choice, an arrangement you've made with the credit card company.

All you have to do now is record those expenses into the books. You don't have to wade through receipts. You don't have to write reimbursement checks. You've been saved hours of work. And that is why you, along with all the other accountants for the companies that use business credit cards, just love business credit cards – they do half the work for you.

So it's clear that business credit cards make not only the accountant's job easier, but also the salespeople. But what about the rest of the staff? What about the office staff – the receptionists, the front-office workers? Well they can benefit from business credit cards, too.

Ordering supplies is another task that can be cumbersome. Finding the catalog that's stuck away in somebody's drawer. Finding the right brand names and styles of the office products you need. Writing and sending a check to pay for the goods, or submitting the bill to the accountant, who has to record and allocate the purchase.

All this can be avoided with a business credit card. All you need to do is to go online, which is pretty easy at most offices these days, pick out your office products from the wide selection available at your fingertips, give them the business credit card number, and click to submit your order. It'll be delivered to your door usually within a day or so. What could be easier?

The financial benefits of business credit cards are good, too

Contrary to what many people would think, businesses don't pay more for the use of their credit cards. Before getting a business credit card, companies need to do a little shopping, to compare the different cards. All the major credit card companies – Visa, MasterCard, American Express and Discover – offer great deals and special offers on business credit cards.

And to get your business, they'll give you even more than if you were applying for a personal credit card. That's because they recognize that the volume a business is going to be doing is usually much larger than that of a personal credit card account.

For example, you may be offered extra cards, without additional fees. Or you'll be offered Expense Management Reports. You could get extra insurance and security protection. You may get deals at affiliated businesses, like your suppliers. You might be offered free credit report connections. So if you compare all these deals, that'll make it easy to decide which is the best business credit card for your company.

Business credit cards are world class

Another great advantage of business credit cards is their global use. It doesn't matter if you're working in Canada and traveling to the UK, or traveling to the US while working in the UK, or anywhere else in the world, for that matter. You can use your business credit card wherever your business might take you.

So bring your business together, Canadians, Americans and British alike, and check out your online options for business credit cards. Set up your account, and you'll set up your company – for success!