Putting Out with Business Credit Cards Posted by nick_niesen on October 29th Cheap Nike NFL Jerseys , 2010
Business credit cards have become popular as a source of financing for small businesses. The banks that issue business credit cards and many industry observers have identified small business credit cards as a potential area for significant growth. The personal credit card market is saturated, and the corporate business credit card market, is relatively small.
The small business credit card market presents financial institutions with a really good business opportunity. Those banks that do offer small business credit cards noted that business owners are spending more and more every month and that they carry higher annual balances than the average personal credit card holder. This holds the promise of higher fees and interest revenue.
Generally, the business credit card carries credit limits that are double the amount of the average personal credit card. But where the personal credit card is almost pushed to the maximum on its credit limit, the business credit card聮s outstanding balance is normally only about 75% of the credit limit. In spite of this Cheap NFL Jerseys Free Shipping , the risks on small business remain high. This is the reason why most business credit card issuers are very careful when processing and approving start-up businesses聮 applications for business credit cards.
In one bank that issues business credit cards, about four fifths of their business credit card holders have been in business for at least three years. Although this particular bank places a strong focus on developing their small business customer base, they have come to realize that there are higher risks associated with extending credit to small businesses. If you think about it, when in a bind, it would only be natural for people to default on payments towards their business credit cards before they default on personal credit cards. No one would want to impact their personal credit rating Cheap Authentic NFL Jerseys , although they might be willing to suffer some negative points on their business credit.
For this reason, most business credit card issuers will require that the business and the owner of the business accept joint liability for debt repayment on the business聮 credit cards. Although there may be some initial grumbling about the personal liability involved, most business owners end up agreeing to this term, because the resultant access to cash and the ability to separate personal and business finances, are of great value to them. Business owners also understand that securing a business credit card early on in the life of the business Cheap Wholesale NFL Jerseys , helps it to build its credit track record; and that the sooner a track record is established, the sooner the business will be able to carry the business credit card聮s liabilities on its own.
Small business credit cards are convenient for travel and entertainment expenses. That is to be expected. But besides these, small business owners use their business credit cards to stock supplies, to supplement their inventory of products, and to cover other daily expenses.
For a time Cheap NFL Jerseys From China , the interest rates on small business credit cards were much higher than personal cards, as banks relied on traditional risk calculation methods and the absence of competitive pressure. That is not the case anymore. Business credit cards offering zero percent interest rates and reward rich incentives are advertised widely. According to issuers, the uptake is high. After all, business owners mind their costs, and low interest rates and affordable fees will always be key selling points.
Keeping It Simple Isn't Simple Self Help Articles | February 1 Cheap NFL Jerseys China , 2008 KISS, Keep It Simple Stupid - it sounds so --- simple. It's not. Read on to see how to make it happen, from an author who really knows how to"get tangled up in his underwear."
Ever since making "Keep It Simple" my main goal I have kept a sign that says "KISS - Keep It Simple Stupid" where I can see it all the time I'm at my desk and computer.
It is so much easier said than done. I wrote an article a few weeks ago about keeping things simple, and making it my top goal for 2008. Not a SMART goal - but certainly a behavior shift that can keep the main things the main things, and keep me from - as a former boss put it - "getting tangled up in my own underwear." Homely little description Cheap NFL Jerseys , and funny, but if you've been there, you know what it means.
I have made a conscious effort to simplify things - and have been successful in looking at a number of issues and cutting through self imposed crap and being better for it. Progress is being made - some underwear has definitely been untangled.
But at the same time, it continues to be tough to untangle and get going.
A story to illustrate the point:
I am looking forward to a fly fishing trip with my son in law in the mountains around Lynchburg VA at Easter time. Really excited about it. I've been researching the flies that are most likely to catch trout at that time of the year in that area. Turns out there are a lot of them. Plus, every fly fisher has their own favorites. And the magazines all have killer patterns. And even the patterns that are personal favorites have many variations. And then the question of what sizes to tie ........ Do you see where this is going?
Every time I sit down to tie flies Cheap Jerseys China Free Shipping , a decision has to be made as to which of twelve patterns to tie - in what colors - in what sizes - in what variations. Talk about getting tied up in one's underwear! This is supposed to be fun - not an exercise in frustration.
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