Thursday, March 28, 2013

Business credit cards? -

I m looking at getting a credit card for my business but have no idea where to start! I bank with Nat west, and have looked at the website, but am still unsure. Is it essentially the same as looking for a personal card? are there things i need to be weary of? does anyone have any experiences with Nat west or other providers - Barclaycard for example?

Speak to your local Nat West business manager. If you ve banked with them for at least 6 months you should be able to get a credit card from them. It s easier to apply to a bank that knows your track record than going elsewhere.Be careful how many other people are allowed to have a card. As has been said elsewhere, you can lose control of your business s finances.Also, make sure that you pay off the balance each month otherwise you ll increase your finance charges dramatically. Having a card can save you money by writing one cheque a month to pay the bill rather than being charged for lots of transactions through your bank account BUT that only applies if you clear it each month.Good luck!

Why do you want a business credit card? They are a recipe for disaster, particularly if there is more than one user. Fewer and fewer businesses use them these days. Why not use a personal credit card? Much safer and easier to control.If you are determined to use a business credt card you will need to speak to a bank to set it up. I suspect the business will have to provide a guarantee.

It is essentially the same as looking for a personal card, although the majority of business cards charge you an annual fee. Have a look at one of the price comparison sites eg http://www.moneysupermarket.com/cards/results.aspx?cardEnquiryId=3202896

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