Business credit card holders are also eligible for incentives and rewards similar to those that are available to personal credit card holders. You may find these incentives and rewards offered by business credit cards helpful in a variety of different ways.
Discounts on Business Travel Planning a business trip can be quite time consuming. As part of the service that some business credit card companies offer, they help arrange for your itineraries, bookings, emergency assistance abroad, and free travel accident insurance. The business credit card travel incentives may also include public transport in those countries where you’re traveling on business.
You are also likely to make phone calls from abroad to your business office. Many business credit card issuers have made special arrangements with telephone service providers if these bills are paid with a business credit card. A business owner who requires regular updates through telephone or email will be able to save with this feature. Business credit cards often secure preferential exchange rates to the business traveler. In addition, business travel becomes more pleasurable since your business credit cards can entitle you to seat upgrades on the flights you take and the use of business lounges at the airports while you are waiting for a connection.
Business credit card holders sometimes qualify for frequent miles or discounts on certain flights and at certain hotels. These arrangements make traveling both more convenient and cheaper for holders of business credit cards.
Discounts on Goods and Services When your business makes use of a business credit card, you will enjoy discounts on your purchases of goods and services. The discounts could add up to substantial saving for your business and enable you to use the money for other purposes. You may want to see which discounts you qualify for at individual suppliers when you use your business credit card. Purchase of certain products may result in rebates, thereby returning some of the money spent to the coffers of the business.
Incentives for the Drivers Many business credit cards entitle you to discounts or rebates on gas purchases. As part of their travel incentives, business credit cards also offer discounts on car hire, which yields substantial savings if your employees are required to frequently undertake traveling. Business credit card issuers also arrange for worldwide emergency and travel assistance. If your employees are traveling in a foreign country and an emergency occurs, they know they can count on the assistance of knowledgeable people who have the appropriate contacts for emergency services.
Rewards Programs Issuers of business credit cards have formulated programs that are akin to what they offer to personal credit card holders. As a holder of business credit cards, you will also earn air miles, or other forms of rewards points. Some business credit cards are more generous, giving you four points per dollar spent as opposed to the traditional reward of one point per dollar. If you have company employees making use of your business credit cards, their usage will rapidly increase your rewards point earnings.
With all of these rewards that holders of business credit cards offer, securing business credit cards becomes the best choice for many businesses.
Thursday, July 16, 2009
The Rewards You Get from Owning Business Credit Cards
Compare and Find the Best Deal on Business Credit Cards
The internet search engines are making it increasingly easier to obtain relevant information about financial products such as business credit cards. By opting to compare the different options you have at your disposal online, you are saved from the trouble of physically having to request or even worse, having to fetch the different brochures and leaflets from business credit card issuers.
The internet search engines are making it increasingly easier to obtain relevant information about financial products such as business credit cards. By opting to compare the different options you have at your disposal online, you are saved from the trouble of physically having to request or even worse, having to fetch the different brochures and leaflets from business credit card issuers.
You will come across a number of available websites, each containing a broad selection – some for specifically for small business credit cards and some for corporate business credit cards. A couple of web sites are purely informational, offering reviews about the many brands of business credit cards, and providing the pros and cons of each. There are also sites that allow you to compare up to four business credit cards side by side, making it possible for shoppers to juxtapose the corresponding business credit card features.
Among the features of business credit cards, you should consider comparing the business credit cards’ annual percentage rate (APR). Although it may not be your intention to carry a balance on the business credit card bill from one month to the next, good sense will in all likelihood dictate that you may have to if your business gets into an unexpected cash flow squeeze. It is essential that you look for low or zero percent APR business credit card offers, in case circumstances only allow you to pay partial amounts as opposed to the full balance due on your business credit cards.
Another thing you may want to take into account is the fees related to obtaining a business credit card. At the time you do your comparative shopping, you should make sure that the business credit card companies do not cancel out the rewards and bonuses they offer with their products after you have filed your business credit card application.
In case you still do not find the right business credit cards to match your business needs, you may consider approaching the banks that issue business credit cards. You can call your own local bank, where you keep the deposit accounts and maintain the line of credit for your business, first. Then compare their business credit card offers with the business credit card products of the big national banks. Most banks would be happy to keep you as one of their valued business clients and may offer special rates on business credit cards.
Comparing different types of business credit cards may be tedious and time consuming, but it is time worth spent. You should be able to locate a business credit card that does not only provide substantial savings but also maximum benefits for your business. Business credit cards can help you gain an edge over your competitors: Your business should be more able to take on larger deals, and subsequently expand due to the guaranteed credit line and other financing features of your business credit cards.
Monday, July 13, 2009
What Are Prescreened Offers of Credit and Insurance?
You may call it junk mail or it may be the answer to your financial woes.
Mail Call: Bills, a letter from your Aunt Mary, a circular from a local department store, your monthly bank statement, and an offer for a new credit card that says you’ve been “prescreened” or “prequalified.”
A “prescreened” offer of credit? What’s that?
Many companies that solicit new credit card accounts and insurance policies use prescreening to identify potential customers for the products they offer. Prescreened offers — sometimes called “preapproved” offers — are based on information in your credit report that indicates you meet criteria set by the offeror. Usually, prescreened solicitations come via mail, but you also may get them in a phone call or in an email.
How does prescreening work?
Prescreening works in one of two ways:
- a creditor or insurer establishes criteria, like a minimum credit score, and asks a consumer reporting company for a list of people in the company’s database who meet the criteria; or
- a creditor or insurer provides a list of potential customers to a consumer reporting company and asks the company to identify people on the list who meet certain criteria.
Can prescreening hurt my credit report or credit score?
No. There will be “inquiries” on your credit report showing which companies obtained your information for prescreening, but those inquiries will not have a negative effect on your credit report or credit score.
Can I reduce the number of unsolicited credit and insurance offers I get?
If you decide that you don’t want to receive prescreened offers of credit and insurance, you have two choices: You can opt out of receiving them for five years or opt out of receiving them permanently. Call toll-free 1-888-5-OPTOUT (1-888-567-8688). The telephone number is operated by the major consumer reporting companies. When you call, you’ll be asked to provide certain personal information, including your home telephone number, name, Social Security number, and date of birth. The information you provide is confidential and will be used only to process your request to opt out.
Remember that if you have joint credit relationships, like a mortgage or a car loan with a spouse, partner, or other adult, you may continue to receive some prescreened solicitations until both of you exercise your opt-out right.
Why would someone opt out — or not?
Some people prefer not to receive these kinds of offers in the mail, especially if they are not in the market for a new credit card or insurance policy. They may prefer to opt out to limit access to their credit report information for credit and insurance solicitations, or to reduce some mailbox “clutter.” However, some companies send offers that are not based on prescreening, and your federal opt-out right will not stop those kinds of solicitations.
As you consider opting out, you should know that prescreened offers can provide many benefits, especially if you are in the market for a credit card or insurance. Prescreened offers can help you learn about what’s available, compare costs, and find the best product for your needs. Because you are pre-selected to receive the offer, you can be turned down only under limited circumstances. The terms of prescreened offers also may be more favorable than those that are available to the general public. In fact, some credit card or insurance products may be available only through prescreened offers.
Does opting out hurt my credit score?
Removing your name from prescreened lists has no effect on your ability to apply for or obtain credit or insurance.