Philip Harman How A Business Rewards Credit Card Can Benefit You
Do you use a credit card to manage your company’s day to day finances?
If so, you might already have considered a business credit card rewards program. If not, a credit card can often help you manage your company’s cash flow easily and simply and you can take advantage of some great rewards. Here’s our guide to how a business credit card rewards program can benefit you.
Managing your money
Many growing businesses have times when they struggle with cash flow or finding the money necessary to expand their operation. This is where a business credit card can help you with short term cash flow issues.
By having a business credit card, you are able to fund purchases or other capital expenditure up to your credit limit. You can also use the card to manage your regular expenditure, such as company expenses, office supplies and so on.
Having a monthly statement to which you can reconcile all your business spending can help you keep in control of your outgoings.
Additional cardholders
Most business credit card rewards schemes allow you to add a number of additional cardholders. This means that you can have various people linked to the same credit card rewards account. This can benefit you in situations such as:
1. There are several directors of the company
2. You have various salespeople who need the ability to use credit for client entertaining etc
3. For managing staff expenses
4. For the ease of purchasing simple office items such as supplies and stationery
Earn points
Business credit card rewards programs work in much the same way as a traditional credit card rewards scheme. You are issued with one or more cards (depending on the number of additional cardholders you have) and all these cards are linked to the same account.
You then earn credit card rewards points based on the money that is spent on the account. Most business credit card rewards schemes pay between one and two points per $ 1 that is spent on the account. Some cards also offer the opportunity for you to earn bonus credit card rewards points at certain selected business partners.
If you have various cardholders linked to your rewards account, it follows that you can rack up a high reward points total quickly, based on the total expenditure on all the cards linked to the account.
Redeem points
You will receive a statement every month showing the total number of credit card rewards points that you have earned. You can then continue to save these, or redeem them for a wide range of goods, gift cards or experiences.
For example, you may choose to redeem your points for domestic flights if your employees make these journeys. You may also decide to redeem the credit card rewards points for gift cards as an incentive to your staff.
Whatever your choice, using your business card can not only help you manage your day-to-day finances, but also generate a lots of brilliant credit card rewards for your company.
