Business reward credit card offer a lot to the small business in terms of
savings, cashback, business travel, hotel stay, insurance, protection and other
facilities. But, how do you get the most out of your business credit card?
Strange it might sound, but the fact is that most of the small businesses aren't
even able to enjoy a fraction of the business reward credit card benefits.
Here are a few tips to make sure that your business reward credit card really
rewards your business.
Yes, however strange it might sound but the fact remains that business reward
credit card companies tie up the reward with monthly repayments. If it is a
habit with you to repay late, or miss repayments forget the rewards. The high
interest rates with late repayment penalties will offset any reward points that
you will ever accrue.
To get the rewards make sure that your business pays off the outstanding
credit card balance every month. Credit card companies thrive on business, which
are not able to repay perfectly. They deprive them of rewards and charge them
heavily and this gives them their money. Essentially, by repaying your business
credit card balances every month completely you are beating the credit card
companies in their own game.
The second step to make sure that you reap the rewards fully is to compile
your business needs and check that the rewards offered by business credit card
matches your business requirements. There is no point in taking a reward which
offers DHL cargo services while your company uses FedEx.
Checking out for reward restrictions, entry qualifications, blackout dates,
travel restrictions, airline restrictions and partners will make sure that you
don't get duped by the credit card company in name of rewards.
Spending with the right merchants and correct vendors also ensures that your
money earns you maximum rewards on your business credit card.
Business rewards come only to those who are good on repayment and do all the
needful to ensure that their business has a good credit history. This is the
most important point regarding business reward credit card. However, keeping
track of other things listed above will give you the best deal on your business
reward credit card.