Corporate credit cards are almost a necessity in the business world. They can be used for a variety of purposes including paying suppliers and vendors, travel expenses for corporate, travel, maintaining office supplies and stationary, and for making the million little purchases that a business required on a day by day basis.

There are many advantages to using corporate credit cards, not the least being that nobody has to carry wads of cash around to make minor purchases. Corporate credit cards also provide a great way to track expenses by item and by individual. Some corporate credit cards like American Express will even provide detailed reports on business travel so that the company can monitor its travel patterns and make adjustments that can result in large savings.

Corporate credit cards are also another record of expenditure that can be traced and followed up on if there is a problem or discrepancy noted during a review or audit. Accountants love this back up system of receipts and the ability to identify every single purpose makes the jobs of the auditors much easier as well.

If there is a downside to corporate credit cards it is on the aspect of possible abuse and even fraud by employees using the corporate credit cards. Some companies have been misled by their employees who have used the corporate credit cards for non business related expenditures. These errors have not been identified because employees delayed filing expense reports and in some cases the employees were long gone before their actions had been discovered.

To prevent these situations from arising there needs to be a firm company policy about the use of corporate credit cards and discipline for those who abuse this privilege. Every employee who receives a corporate credit card should be given an orientation on its proper use and know the consequences if they do not follow these procedures. Most companies also limit the number of corporate credit cards in distribution and also require approval before using the corporate credit cards over a certain amount that is tied to the duties and responsibilities of the employee’s position with the business.

Corporate credit cards can be a very useful tool for any corporation, business, or even small business. They can allow a company to operate without using cash and without having to use their own money to do business. Corporate credit cards are available from all major banks, credit unions, and from the credit card companies themselves. There are a variety of options and rate plans to choose from and each business should review this carefully before selecting corporate credit cards for their operation.

Just remember to build in checks and controls to limit and avoid employee abuse and corporate credit cards will be an important asset for any business.

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If you have thought about starting a small business, and about ways of expanding it rapidly, then you would have definitely thought about getting a business credit card without personal credit.

However, you should know that getting one is a Herculean task as you have no financing partners to rely on, nor do you have any technical skills that can aid you. These are the basic requirements you need to get a financing company to pay you a sum of money that can be used for business growth, with no personal guarantees like collateral or personal credit for that sum. So what is the option left? You are about to find out shortly.

What’s the Solution?

Many financing companies like Chase, Amex and Discover issue business credit card without personal guarantee. These companies understand the plight of the small business owners who have only a small business credit and are ready to help them. If you want one of these companies to sanction you a business credit card, all you need to do is convince them that your business is viable. If you can do that, they will give an approval of your good credit and this way you can build business credit. However, in order to qualify for an approval, there are certain things you need to know.

How to Go About the Process?

First and foremost, you will have to prove it to the company that you have a good business-credit. Your business credit will be defined as good or bad depending on your business credit report that is prepared by the credit reporting agencies: Dun & Bradstreet, Equifax Business and Experian Business. After doing so, you will have to find companies like credit card companies or vendors and suppliers who can give you credit without considering your credit report score as the basis. After that comes the hardest part. You will have to prove to the business credit bureaus that you have a good payment history. All these are necessary for the improvement of your business profile and for proving that your company is viable.

Once all this is done, you have to start approaching financing companies. It is important when and how you do this. Don’t be surprised if the lenders ask you for any IDs, business licenses and some other business documents. These will be asked as per his will but you can be sure that none of them will be tying you to your personal account. Your attempts at building business credit will go in vain if you do not produce the right documents. Your application might even get rejected.

You should also know that you might be misguided by some websites that say, in order to get an approval form a financing company, all you need is a good credit score. However, that is not the reality. Maintaining a good business profile is just as important. You should have high reporting limits and your chances of getting a business credit card without personal guarantee are directly proportional to that factor.

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The gush of applications for instant approval credit cards have forced many business owners to resort to using credit cards in their businesses, and this was determined by the 2009 small business survey. Since April the top covering recipients cut all their small business loan balances to about eight million dollars. Meanwhile conventional loans get desiccated and some lines of credit are also cut, so the banks have decided to channel some more of their small business extending credit.

And although some of the more prominent lending companies have left the sense there are still some of them like J.P Morgan Chase Card Services, this particular company recently launched four more credit card that are designed for the small business owner. And as these instant approval credit cards get more popular the business owner has to be sure they check out every possible avenue where the card is concerned so they know which ones can provide the best rates before they actually apply. Many of the card that are in circulation now offer cash back rewards, and in some cases the cash back are unlimited.

And cards like these are great because they help you to get rewards from everyday purchases, and make sure that you take a look at the fine print on the card and fully understand what it is about. Another thing is that getting a frequent flyer card is great for small business owners who travel, and once you have reached certain points they can be redeemed for maybe a night at a hotel which is a participant.

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If you are a business owner, or a business that is looking for a unique card and you have excellent credit, you will want to consider the United Mileage Plus Platinum Business Card, a card issued by Chase. This card is an excellent option and is especially good for those who regularly travel on United Airlines, as the reward program is geared specifically towards this type of user.

Through the reward program, cardholders earn two miles per dollar spent on purchases from United and one mile per dollar spent on all other purchases. Cardholders receive 17,500 bonus miles after their first purchase, and additional miles can be earned through participating restaurants. Cardholders also receive a $25 United discount travel certificate and a free one-way, 1,000 mile, one-class upgrade certificate after their first purchase.

There is a limit of 150,000 miles that can be earned per year. However, those who are Mileage Plus Premier®, Premier Executive®, or Premier Executive® 1K® members are exempt from mileage limitations. Earned miles do not expire as long as the cardmember earns or redeems miles at least once every three years.

The card has a slightly high annual fee of $75 for the primary cardholder and $25 for each additional cardholder. It also has a high interest rate for purchases and balance transfers for a business card (although the rate is just above average for a reward card).

Those who plan to occasionally carry a large revolving balance may find doing so costly due to the “Two Cycles Average Daily Balance” method used by this credit card to determine finance charges, which ends up costing more to maintain an occasional balance as compared to the “Average Daily Balance” method used by many credit card issuers.

A variety of platinum business cardholder features can be found with this card, such as auto rental insurance, travel accident insurance, and up to $3,000 in lost luggage insurance.

Therefore, those who plan to pay in full each month (to avoid costly finance charges), frequently fly with United to take advantage of the reward program, and would like the additional travel services and discount certificates will benefit most from what the United Mileage Plus® Platinum Business Card has to offer.

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As you may already know, most banks have no interest in lending money or extending credit to new small businesses, even if the business owner has immaculate credit. The entity itself has to build up a track record of trustworthy borrowing before banks want to deal with it. That’s why small business secured credit cards may be a good idea.

It’s a great way for a new business to establish itself on the map with credit, or to reestablish credit after problems. But you always need to make sure that you’re getting the best deal when you sign up for a secured credit card. Also ensure that you have looked to see if any annual fees will be charged on the secured credit card. After all you want to make sure that your money on the account will not be wasted and used up on only fees.

Finally, though perhaps not the best way to establish credit, it may be the only way. It’s difficult to get credit extended to you even as a small business, when you’re a newer business. Most people may not work with you until you’ve been in business a certain amount of time. So to help build up the credit of your company check into secured credit cards. Remember that eventually someone else will also give you credit, just make sure that you pay on the card and on other accounts in a timely manner. All it takes is one small mistake and your credit as a small business will be questioned, and make it more difficult to reestablish credit.

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