By Linsey Knerl –
Almost every modern company runs on some form of credit these days. Even the most profitable businesses benefit from having a line of credit available for emergencies, well-planned purchases for perks, or improving their credit score. According to the Small Business Administration, 65 percent of small businesses rely on credit cards, but just 50 percent use business cards in the name of their company. This strategy can potentially harm a business owner’s personal credit, and it limits the opportunities to get business funding in the future.
If a business credit card is the wiser choice, why doesn’t everyone get one? For being a very astute business move, cards have their drawbacks. Here are some of the ways that business credit cards can do more harm than good and keep you from achieving the most important growth goals. (more…)