Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Never Spend More Than 2 Times Your Income On A Home

Never Spend More Than 2 ? Times Your Income On A Home - Half the trick to buying a home is knowing what you can afford to spend...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Secured Credit Cards Business

Many business owners have debated whether to obtain secured credit cards for their business. There are benefits to having credit cards. If your credit is bad or poor, or you have no established credit, the easiest way to obtain a credit card is to apply for a secured card. A secured card requires that you provide collateral, which is usually in the form of a cash deposit into an interest-bearing savings account with the credit issuing bank. Your credit limit will range anywhere from 50 percent to 100 percent of your security deposit. You will receive a monthly statement which must be paid just as if it were an unsecured account. The security deposit is only used by the credit company if you default on your card. After about one year of good payment history, you may be able to request that your cash deposit be released to you and your account switched to an unsecured account. Most of these secured business credit cards periodically report your repayment activity to the credit bureaus, which can help you build or rebuild good credit.

Some secured business credit cards offer benefits that are not normally available to consumers. Some of these benefits include: fraudulent use protection, theft and fire damage insurance, extended warranties on office equipment, travel and auto rental insurance, overdraft protection, and detailed spending reports. The business owner can use spending reports to determine what is being charged and where to apply spending cuts. Some companies even offer the ability to itemize spending for each cardholder that is listed as a cardholder on the business account. That allows the business owner to monitor the spending of employees that have access to the credit cards. They can also determine if each charge is actually a business-related expense.

When searching for a secured business credit card, check to see if you can increase your credit limit by adding additional money to your security deposit. Most cards will grant credit increases if you establish and maintain a good payment schedule. Some secured cards even offer business perks, such as cash back, rewards in the form of cash rebates towards office supply and equipment purchases, and frequent flyer miles and hotel rewards for business owners who maintain a heavy travel schedule. Do a side-by-side comparison to pick the best card for you.

Discuss It!

said:

Wonderful and getting successful rate also . We are working at writing company of <a href=http://www.essayscouncil.com>Academic writing help</a>

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Turnover

Definition: In mutual funds, it's the percentage of total shares in the portfolio that are traded in a given period (usually a year). TeenAnalyst Advice: Investors prefer mutual funds with lower turnover rates because they have lower fees than those with higher turnover rates.  Also, if a mutual fund is constantly...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com