Business cards provide contact information, introduce companies, brands or individuals and can even convey an important message visually.
Holding both personal and business credit cards from one issuer can bring many advantages. But in order to take full advantage of them, responsible management is required:.
1. Convenience
Have both personal and business credit cards from one issuer can be convenient, as credit card companies are typically motivated to ensure customers are happy by providing excellent customer service when needed. Furthermore, responsibly managing both cards could make qualifying for business-tier cards simpler as well as building strong relationships that could result in more favorable terms on products like loans and auto insurance in the future.
Although both personal and business credit cards can be used to purchase similar goods, business cards typically offer additional perks not found on personal cards. For instance, many business credit cards come with rewards categories tailored specifically for small businesses – travel and office supplies being prime examples – and some allow employees to add employee cards without incurring an extra cost; saving time and money while streamlining card management processes.
Business credit cards also typically come with higher credit limits than personal cards, as lenders take into account your business revenue, current income and credit score when determining approval odds. This can be particularly helpful for start-up businesses that need to quickly hire employees on limited funds.
2. Flexibility
Since the Credit Card Accountability Responsibility and Disclosure Act only covers consumer cards, business cards aren’t legally required to follow its rules; however, some card issuers opt to offer some of the same protections and perks to small business cards that they provide their consumer customers – including offering employee cards with larger dollar maximums, additional purchase protection with larger dollar maximums, rental car coverage as well as airport lounge access that wouldn’t otherwise be available on personal cards.
These benefits may not be available from all card issuers, but you may find them by shopping around for the right cards. Their flexibility can be especially advantageous to those operating small businesses or independent contractors.
3. Convenience
When meeting new contacts and exchanging business cards, there are numerous apps that enable you to instantly store the card for later reference in your digital address book or contact list. This approach makes storing paper business cards much less time-consuming as well as having to search your pocket when the time comes.
With proper account management on both personal and business accounts with the same issuer, it may be possible to qualify for a business card without incurring a credit inquiry. Also having two cards from them could build relationships that lead to premium service if your small business experiences financial difficulty.
Business credit card programs often come with more enticing rewards earning limits and purchase protection compared to personal cards, making earning rewards together simpler and faster. Some cards even allow employees to add free employee cards – enabling a collective effort towards collecting rewards!
4. Convenience
Many people opt to store their business cards digitally these days in an app designed for easy retrieval, eliminating the worry of misplacing cards that were left in pockets or wallets and keeping all contacts easily available on smartphones or tablets. You could prioritize certain contacts or organize alphabetically based on name, position or company – experiment until you find a system that best meets your individual needs!
Holding both personal and business credit cards issued by the same issuer can be both convenient and beneficial to your credit profile. When you establish a relationship with an issuer, as long as your accounts are managed responsibly, it may help you qualify for business cards with more generous rewards or additional protection features not available on personal versions of the same card.