Owning a business credit card is a powerful tool, essential for small businesses and enterprises around the world. Merchant card services also known as card processing services enable the transfer of funds from customer to merchant.
The Power Of Business Credit Cards To Smaller Businesses:
Rewards; Not only are credit cards easy to use, saving the hassle of carrying cash they also provide rewards. These rewards can be redeemed through a variety of choices suited to a businessman, such as discounted flights, hotel stays and gift cards to name a few.
Tracking; Owning a business can be challenging, trying to stay on top of purchases and expenses. Credit cards allow easy tracking and monthly reports, saving time and stress.
Purchasing; As your business venture grows, you are much more likely to require funds for essential purchases. Using credit card for these purchases allows you to build a credit score, the higher the score the more credit you will receive allowing your business to grow and expand!
What Credit Card Is Right For You?
Choosing the correct card for your business is vitally important. Now you ask “how do I choose the best card?”, this is where we come in handy! Simply input your business information and get a selection of quoted cards suited to your business needs.
Tips for choosing the best card;
Company reviews; Customer feedback is a good place to start, sites such as Trustpilot offer a wide variety of reviews and information from other people in similar situations allowing you to read through pros and cons of the chosen card company.
Transparency; A lot of the time credit card companies offer deals and rewards to good be to true that come with some hefty fees down the line. Avoid any misinterpretations or hidden fees, simply by selecting a company with all upfront costs.
Overseas Transaction Fees; Does your business require its employees regular travel or ventures in foreign territory? If so, it is essential to check the credit card provider does not charge overseas fees when purchasing as the fees can be large. Some providers even offer bonuses as you rack up the mileage across the globe.
Choosing The Card For You;
It is important to account for the size of your business, maybe you have recently launched and have a low credit score? Low credit scores may limit the monthly spending allowance and approval. If you can relate to this it is vital you select a provider that is easily accessible and has great customer service for trouble shooting issues you may encounter. For any start-up businesses, the Barclays Business Flex Credit Card may be the best option. Offering no annual fees and 8 weeks interest free purchases regarding you pay in full and in time. Merchant card service fees are applied if the customer pays by credit or debit card, the fee covers interchange and the processors payment markup. However, here at compare card processing all fees are transparent eliminating any hidden fees you may face. To give your business venture the best start possible.
Do you have more questions about deciding which system is best for you?
At Compare Card Processing we want to help all sorts of businesses to have the right card
processing system that works for them. Just answer our online questionnaire to get
started or get in touch today for more information. Get a free quote today!