Free Articles  >>  Business And Finance >>  Page 3604  >> 

Small Business Credit Cards Debunking The Top 3 Myths

Think you know everything there is to know about small business credit cards? You may want to think again. Many people fall for the myths surrounding these useful financial tools. If you want to be on top of your game you need to know what's fact and what's not. That's why I'm debunking three of the most common myths people buy into.

1. You Don't Need Good Credit

If you think you can get a credit card under a business name even if you don't have good credit personally, you're sorely mistaken. Sure, people selling "how to" reports promising dozens of credit cards in your mailbox would like you to believe otherwise, but the fact of the matter is that small business credit cards do require good credit.

Unless your business is well established with a solid profit history and a credit rating of its own, you're going to have to guarantee any line of credit you establish. If you don't have good credit, your personal guarantee won't be enough for the bank and the credit cards will not come piling in.

2. You Have To Have a Big Business To Get One

On the other side of the spectrum are the people who think you can only get a business credit card if you have a huge business that rakes in millions of dollars a year. This is also incorrect.

Your business can be the smallest mom and pop shop on the block. If you have a solid credit history a bank will be willing to open up a business credit card for you -- just don't expect a huge credit limit.

3. They Have Better Perks

While it's true that small business credit cards have perks that are more geared towards businesses and the people who own them, they aren't always better than the perks attached to personal credit cards.

If you're applying for a business credit card just because you think the perks are better, do your homework first. You might actually find a personal card with a better offer.

Remember, the credit cards designed for businesses have the same requirements that personal credit cards do. The difference is, business credit cards let you keep your personal expenses separate from the ones that belong to your business. So the next time you run into one of the myths surrounding small business credit cards, keep the above tips in mind.

About Author Sean Masterson :

For more tips on business credit cards, saving money and avoiding getting taken, check out, a website that specializes in providing credit card tips, advice and resources. <a href="" target="_blank"></a>

Article Source:
Article Url:

Article Added on Wednesday, July 30, 2008
Other Articles by Sean Masterson

Debunking 5 Secured Credit Card Myths
When it comes to secured credit cards, many myths abound. From they're only for people with bad credit to they're more expensive than unsecured cards, you can't always distinguish the truth from the lie. Worry not. I'm debunking the most common secured credit card myths. 1. Secured Cards are a Bad Credit Stigma Think a secured card announces to the world that you have bad credit? Guess again. Most secured cards are indistinguishable from unsecured cards. Your card itself won't say anything...

Gas Credit Cards 3 Things You Thought You Knew
If you think you know everything there is to know about gas credit cards, you may want to think twice. The gas cards of today are nothing like the gas cards of yesteryear, and people who don't see that don't know what they're missing out on. Before you go falling for the common myths surrounding these cards, here are a few facts to consider... Myth #1: They're Not For The Credit Challenged Remember when gas credit cards were primarily for those with credit challenges? Those days are long...

3 Things The Best Business Credit Cards Have in Common
Looking for the best business credit cards? You're not alone. Millions of business owners want to carry the best cards, but don't know where to look or how to find them. Fortunately, there are a few pointers that can get you on the right track. When looking for the best credit cards for your business, keep a lookout for these three things that all great business credit cards have in common. 1. A Low APR Don't ever sign up for a card with an interest rate of 20 percent or more, no matter how...

Why Secured Business Credit Cards Make Sense
If you're one of the many business owners with a business that can't qualify for traditional credit, secured business credit cards may be a good solution. Unfortunately, many entrepreneurs overlook the value of these unconventional business tools. Before you write off secured business credit, there are some things you really should consider. The Risk Factor If you start your own business and you have spotless credit, chances are you'll qualify for some type of unsecured business credit card...

Do Capital One Secured Credit Cards Really Exist
? How many of the credit-challenged masses would be happy to have Capital One secured credit cards in their wallets? Capital One is one of the best credit card companies out there, and there's something to be said for carrying the what's in your wallet? plastic in your pocket. But the Capital One name is for the credit elites only, right? Wrong! Long Live Capital One Capital One is not just for the credit elites of the world. The company actually offers credit cards to those with credit...

Are You Letting Those Bad Credit Credit Cards Abuse You
? If you're looking into or are using bad credit credit cards, it's probably because you've run into a few financial road blocks in the past. Nothing to be ashamed of -- it happens to the best of us. It definitely doesn't mean you should be treated like a second-class citizen in the world of finance, which is exactly what some credit card companies try to do. If you've been using bad credit credit cards, or are trying to apply for one, there are some things to keep in mind. They Want What?...

What You Need to Know Before You Apply for Secured Credit Cards
If you've been facing credit challenges and haven't been able to obtain credit, you may be getting ready to apply for secured credit cards. Before you do, you need to realize that not all secured cards are created equal. Here are some things to consider before submitting any secured credit card application... The Deposit When you apply for secured credit cards, make sure the cards you're applying for offer reasonable security deposit requirements and that they allot 100% of that deposit to...

3 Things You Need to Know About Secured Credit Cards
Some people think they know everything there is to know about secured credit cards. You send in a deposit, you get a credit card. End of story, right? Not necessarily. Before you go jumping into the secured credit card world, there are a few things you should know. You're Still Going to Pay Think you're entitled to a lower interest rate just because you're providing a security deposit? If rates of five or six percent are dancing through your head, you'd better think twice. The interest rates...

The Real Truth About Bad Credit Cards
Listen, you've got bad credit -- it doesn't necessarily mean you have the plague and that you're forever destined to apply for bad credit cards. Of course, it could mean exactly that if you don't take the appropriate steps right away. Here are a few things to keep in mind. Bad Credit Cards Are The Means To An End Okay, you've messed up your credit. Don't expect to get a platinum card with a great interest rate. You need to hit the bad credit cards first - the ones with the annual fees and...

A How To Approach to Getting Bad Credit Unsecured Credit Cards
When it comes to bad credit unsecured credit cards, they sure do run the gamut. On the one hand, there are those with fair credit terms and reasonable fees. Then there are those with ridiculous terms and conditions and interest rates that make your teeth hurt. Of course, you get what you can take when your credit history is damaged, right? Wrong. Here are some things you should know if you're trying to find credit with an imperfect credit history... How Bad is Bad? Really, how bad is your...

Click here to see More Articles by Sean Masterson
Publishers / Webmasters
Article ID: 87577
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:

213 Users Online!!
Related Articles:
Latest Articles:
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts

Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of and/or its owners.

Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Linux Wordpress Hosting Provided By AwareIndia

Company IDS