As a business owner, perhaps you’ve wondered what advantages there are to opening a business credit card — as opposed to just using a personal credit card for business purchases.
The truth is, credit cards designed specifically for businesses often include better rewards, higher credit limits and more advanced reporting tools.
If you’re still weighing the value of a business credit card versus a personal credit card, consider these three important benefits and advantages of a business credit card.
1. Streamline Your Business
Business credit cards can simply make life easier for a business owner. Often, a business credit card can be easier to obtain than a line of credit or loan for your business. Additionally, business credit cards may have much higher credit limits than personal credit cards, making large purchases easier for a business owner compared to using their personal card. Finally, keeping your business expenses separate from your personal credit card purchases makes tax time a little easier.
2. Earn Rewards and Perks
Depending on the type of business credit card you choose, there are often great perks and rewards available to business owners using a business credit card. Zions Bank has three credit cards specifically designed for business owners, depending on what type of rewards they prefer.
● AmaZing Rate® Card for Business: The perk of this credit card is its low interest rate. The AmaZing Rate card has no annual fee and a credit limit up to $250,000.
● AmaZing Rewards® Card for Business: You may wonder, are credit card rewards worth it? We think so. With the AmaZing Rewards card, you can apply your business rewards points for any purchase made with your card and redeem business rewards points online or by phone, 24/7. There is no markup on third-party websites and no middlemen when redeeming your business rewards points. There is no limit to the number of points you can earn, and reward points never expire. This card features no annual fee, no rewards fees and a credit limit up to $250,000.
● AmaZing Cash® Card for Business: The perk of the AmaZing Cash credit card is the ability to earn cash back. You earn cash back on all business purchases and get it back as a statement credit or as a credit to a Zions Bank deposit account. There is no limit to what you can earn and no expiration date. This card features no annual fee, no rewards fees and a credit limit up to $250,000.
Not sure what business credit card is right for you? Check out the Zions Bank business credit card comparison tool to help you make an informed decision and find the right card.
3. Build a Business Credit Score
Using a business credit card responsibly allows your business to establish good credit. Utilizing a personal credit card for business expenses doesn’t necessarily build your business credit. While your business credit and personal credit are often related, they are not the same. Establishing a good credit history is essential to your growing business. This can help you down the road as you explore other financing options, such as a line of credit or small business loan.
Make sure you do your homework when applying for a business credit card. Don’t forget to ask about perks and rewards as well as any potential fees or penalties.
Finding a credit card that fits your business needs is important, so speak to a banker if you have additional questions.
Interested in a Zions Bank business credit card? Visit your nearest Zions Bank branch or apply online.
