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Tips for Running Your Business on Credit Cards

Whether you are a small business or a large corporation, credit cards are a useful tool when managing your business expenses. Credit cards make it easy to spend money, but their high interest rates can also quickly hurt your business’s finances. This week, PCS Debt Relief offers you tips for running your business on credit cards and what you can do to stay in control of spending.

1. Keep track of purchases.

When you use credit cards, it is crucial to pay attention to what expenses you charge. Do you have separate cards for different kinds of purchases? For instance, do you purchase office supplies with one card and leave larger expenses for another card? Be aware of your business expenses and determine how much you can put on each card, but make sure you can afford it! Creating a simple outline of your expenses can help you see where you can save money and if you need to cut back on certain types of purchases.

2. Pay attention to your credit limit.

Credit limits tend to be higher on business cards than on personal ones. According to the credit card experts at CreditCards.com, “…13 percent of business owners carry a balance of more than $25,000, and 36 percent of business owners carry a balance of more than $10,000.” Balances can add up quickly, as running a business is not an inexpensive endeavor. Pay attention to your credit card limits but try not to creep too closely toward them. It is said that a lower credit utilization ratio can positively impact your score.

3. Consider adding trusted authorized users.

Adding authorized users gives your responsible employees an opportunity to efficiently make payments when you are unavailable to do so. Consider this option carefully, as it can become easy to adopt a “just put in on the business card” mentality. Depending on the business credit card you have, there are options available to limit where users can make purchases and how high their credit limit is set.

4. Separate business from personal.

Your personal expenses should be run on your personal credit cards and the same goes for your business credit cards being used for your business expenses. We cannot tell you how to run your business or how to spend your money but understanding how to separate the two expenses can help you manage your finances more effectively.

5. Look into rewards programs.

What kind of perks or benefits do your business cards offer? For instance, if you travel frequently, then you should take advantage of credit cards with travel rewards. Pick the card that fits best with your spending initiatives and make the most out of them.

Is your business in need of financial guidance or assistance? PCS Debt Relief offers debt relief services tailored to your business’s needs. We do not charge upfront costs or fees and want you to feel comfortable during the process. Call (636) 209-4481 for a free consultation to restore your business and achieve financial stability.

PCS Debt Relief

PCS Debt Relief

Sr. Debt Analyst at PCS Debt Relief
At PCS, our programs are tailored to the client’s specific financial needs. What sets us apart from our competitors is that clients see relief, before any payment is received. Our NO UP-FRONT FEE policy ensures our client’s a 100% satisfaction guarantee. We also do not charge any monthly fees or any cancellation fees. We want the client to feel comfortable during the whole process that’s why we allow them to be part of it every step of the way.
PCS Debt Relief

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At PCS, our programs are tailored to the client’s specific financial needs. What sets us apart from our competitors is that clients see relief, before any payment is received. Our NO UP-FRONT FEE policy ensures our client’s a 100% satisfaction guarantee. We also do not charge any monthly fees or any cancellation fees. We want the client to feel comfortable during the whole process that’s why we allow them to be part of it every step of the way.

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With over 30 years of combined experience, a Better Business Bureau A+ rating, and a zero complaint history, you can feel confident that PCS Debt Relief will be a debt relief company you can trust. We are headquartered in St. Louis, MIssouri and offer our debt relief services nationwide.