By Sharita Humphrey
Your business credit card is more than just a piece of plastic to buy supplies with! If you use it properly it will help you build a solid financial foundation for your business.
But in order to use it well, you’ll need to learn the lingo that goes with your new card. Like the rest of your business, getting to know your way around the terminology can come with a learning curve! The following list of terms will help you be an informed business owner. And you’ll be able to maximize the value of using your business credit card.
1. Annual Fee: Some credit cards charge a fee for every year that you keep the card. While annual fees are more common on credit cards that come with rewards, or for rebuilding bad credit, some cash-back rewards and small business credit cards also charge these fees. Also, depending on the credit card, you may not have to pay an annual fee for the first year that you own it. (more…)