How to avoid major pitfalls with your business credit card

All type of business credit cards are widely accepted worldwide. It is easier to borrow money using a credit card than it is to go borrow from a bank. Cardholders all of a sudden are given large amounts of credit that not every individual can handle. The number one rule to follow is: don’t mix business purchases with personal purchases. Also, be sure to pay your bill on time every month. According to American Express Gold, they collect $2.9 billion dollars a year in late fines. Late fines cost money and they can increase your interest rates as well.

A very important, and often overlooked rule is to “know your own money limits”. Try to purchase things cash instead of using your credit card. If you do use your credit card, be sure to pay it off at the end of the month. Don’t get caught up in huge debt that you know you will not be able to afford. Do not risk your credit and get caught up a viscous “interest paying “ cycle.

Also never forget to be careful with introductory offers. Many card companies offer interest free periods just to bait you. Once that period is over, rates can exceed 17%. Cash advances are also sometimes very expensive. Before you take out cash from the ATM using your American Express Starwood Preferred Card check to see how much the interest rate for cash advances is going to be. Cash advance interest rates can be more expensive than rates charged for regular purchases.

Remember, try to make the most of your credit card. If you can obtain a low interest rewards card that promises cash back at the gasoline station, why not use it. Small businesses can save a lot of money buy using their rewards correctly. A small construction company can charge materials at the local hardware store and reap the reward benefits at the same time.

Lastly, always use your business credit cards responsibly. Don’t fall into the traps that many people often do. Use your best judgement when deciding whether or not to charge your next purchase on your card. If the items that you are purchasing are not necessities, than pay them with cash or go without. It is very easy to forget that every time you swipe that card, you will actually be incurring debt. Once that debt gets beyond control it becomes a beast to maintain. If you use your card wisely than you are in control, as opposed to the card issuer being in control.

Labels: Amex Starwood Preferred Credit Card, Business Credit Card, business credit cards

The Advantages of the Amex Starwood Preferred Rewards Credit Card

As a small business owner, I know really well the importance of cash flow. There are many sources of obtaining credit when you need it. Banks, SBA loans or outside investors are among the many sources of finding cash to fund your business. However, credit cards can also be used to help you out when you need it. A credit card can be used for just about anything you can think of. Use your credit card to purchase business supplies, make payroll and take advantage of great rewards programs that can benefit you.

The Amex Starwood Preferred Guest Credit Card is an excellent choice for any small business owner that wants to take advantage of a great rewards program with low interest rates. Earn one point for every dollar that you spend on your Amex card. Use it at any of the Starwood hotels, such as the Sheraton, the Westin or W Hotels and earn two points for every dollar spent. Another great advantage of the Starwood Preferred Guest Credit Card is that you can save up to 25% on purchases from approved retailers. If you need to send a package overnight you can save 25% at Federal Express. Not bad if you need to send original documents when you are submitting an invoice. You can also take advantage of great discounts at Hertz rent a car. Another great advantage of using your Amex Starwood card for travel is that you get up to $100,000 dollars of travel insurance. If you purchase your airline tickets with your card and they loose your luggage, you can claim it back to American Express. Lastly, the Starwood Preferred Guest Business Credit Card from American Express comes with great interest rates. For 6 months you can enjoy 2.9% interest on purchases and balance transfers (balance transfers must be made within 3 months to qualify for low rate). After the 6 months are up you get a 9.9% interest rate. Interest rates for cash advances are 19.9%. The annual fee for this card is $45, but it is waived your first year as a card holder.

The Amex Starwood Preferred Guest credit card is an excellent credit card choice for the businesses traveler. Take advantage of the low introductory rate for all your business needs. Use your Amex Starwood Preferred card at many major retailers across the United States. Also take advantage of the excellent rewards program. You can also use your Starwood credit card at participating Starwood resorts in 95 different countries. Use your rewards points to take your next business trip or vacation. Your points are also transferable at over 30 airlines. Sign up for the Starwood Preferred credit card and earn up to 25,000 points which can be redeemed for up to 6 nights at certain Starwood hotels.

In all, the Amex Starwood Preferred Guest credit card is an excellent rewards card for anyone. You do not have to be a small business owner to take advantage of this great rewards credit card from Amex. Anyone can use this rewards card and earn points towards their next vacation. Apply online today and after about 60 seconds you will find out if you are approved.

Labels: Amex Starwood Preferred Credit Card, Business Credit Card, business credit cards, Rewards Credit Card, Rewards Credit Cards