วันพุธที่ 16 ธันวาคม พ.ศ. 2552

company credit card

Professionally, perhaps more so than personally, there will be times when you need to invest some money in the future based a reliable and predictable return further down the line. Company credit cards serve just this purpose and support the outgoings of your business, whether it’s small or large, while they exceed the funds that are immediately available. Importantly, company credit cards for UK businesses are largely protected against fraud, so that if there’s any improper use and you notify the issuer of the theft quickly; you shouldn’t be charged at all.

For obvious reasons, banks are keen to get you on board when you take out a company credit card so there are many attractive features to benefit from, as well as practical reasons why it could help – from booking travel arrangements for you and your staff to paying in advance for mass wholesale shipments of essential products. Apart from all this, it’s great to have the back-up of your company credit card, so you never have to turn down exciting investment opportunities that arise unexpectedly and require a speedy down payment.

Bear in mind that some banks, though not all of them, do require that you already have a current account with them, before you consider applying for one of their company credit cards.

Rewards and Discounts

Often there are reward schemes associated with credit cards for UK companies; so if you spend more money using your company credit card – you’ll receive more and better rewards in return – particularly worth having if the programme includes every card holder. You might also get a telecom deal – so you and your staff keep in touch for less.

Of course you’ll need to check individual issuers for specific details, but the kinds of things you can expect might include travel insurance for all company credit card holders, and discounts off a variety of (usually business related) products and services. Often these benefits are available as soon as you’ve begun using your company credit card – you don’t have to show signs of loyalty or anything first – they want you to get as much use out of it as possible.

Supplementary Card Holders

Unlike personal accounts, it’s fairly easy to up the number of people who have one of your company credit cards. If you think it’s likely that you’ll need to employ this service, check before you take out a credit card, to avoid unexpected charges later on.

There’s no doubt though, that this is a practical and convenient way to minimise the unnecessary exchange of money within the business. If everyone has a company credit card, there’s no need to spend ages working out who’s spent what, and who owes who. It also allows you to see clearly where money is being spent and perhaps how it can be saved – for example, if you find that everyone’s buying a box of pens each month – you can make sure they’re bought in bulk next time. In fact, there are some issuers that will put the infrastructure in place to allow you to do track this kind of information – something that will become increasingly important with expansion. It’s not a total loss of control either – the opposite in fact, as you can implement spending limits, and track expenditure for each credit card your company has issued.

Charge Cards

If you fancy you’ll keep up to date with payments on your company credit card(s), charge cards could work for you as you can often get as much as 2 months interest free credit card purchases. The charge card won’t have a pre-set limit on spending, either, which is flexibility you might find appealing.