October 25, 2007 – 6:08 am
Business credit cards are meant for business purposes. When you need to do payments regarding business deals then you need to have business credit card in order to have separate estimate of the expenses. There can be several reasons for which you may require the need of business card:
- It is an Interest-free credit: Business credit cards are available with interest free credit for certain period of time. It is helpful while dealing with clients financially.
- Separation of expenses: when you go for dinner with office team and you need to do payment from your personal card then it becomes difficult to separate the expenses. With business credit cards this task becomes much easier.
- Expense managed report: you can have the report containing your expenses details. In addition, your accounting department no longer has to manually account for all you business expenses as the card comes with itemized monthly statements.
- Staff cardholders: you can provide business cards to the members of staff who have to deal with business expenses. Your staffs need not to pay from their personal account and your accounting system as you should no longer need to refund staff for business expenses.
- Online business expense payments: with the Internet access option you can now pay for all your business expenses online. This quick and easy payment method should help to save your accounting team plenty of time and effort ? making them more productive in other areas.
- Insurance: if you use business credit cards to pay for any business travel expenses your staff members should not only get free travel insurance but also any other travel benefits that are associated with the card.
- Higher credit line: ordinarily credit card companies are willing to give business credit cardholders a higher level of credit than individuals. This should mean that your business never needs to worry about how to pay for entertainment, stationary or travel expenses again.
- Bookings in Hotels: as a member of a business card program you may find that the card issuer has a special relationship with a hotel that gives you preferential bookings at hotels close to where you need to be ? so no more long travel journeys from hotels to meetings.
- Billing: finally, billing of your business credit card can be arranged so that you pay the entire balance each month or carryover a balance to the next statement period, as suits your business needs, much the same way individual credit cards do.
October 25, 2007 – 6:06 am
After the existence of silver credit cards it was felt that there is a need of gold credit cards also. These cards categorized as platinum, silver and gold cards show nothing but reflects your financial standard. Gold credit card holder is assumed as to have good financial status. The introduction of gold credit cards was the answer and a hierarchy of credit cards was firmly established, which is still in existence today.
Advantages of having gold credit cards
The advantages that gold credit cards provide card members over other kind of cards include:
- Its cash withdrawal limits are higher.
- It provides higher credit limits.
- It provides 0% interest for between 6 ? 9 months when transferring your account balance from one credit provider to another.
- You can get better rewards promotion packages.
- Better travel perks are available ? for example, you may be entitled to automatic upgrades when traveling.
- Carrying a Gold credit card reflects more prestige, which in turns means retailers are more willing to be attentive to you.
Disadvantages of having gold credit cards
The disadvantages that gold credit cards afford card members over other types of cards include:
- A higher annual membership fee is included to afford gold credit card.
- Your income should be high if you want to have gold credit card.
- Credit limits are dependent on your previous credit history. Therefore, even if you earn more, if you have not been able to manage your debt financing correctly in the past, there is a chance that the limit you are given is going to be lower than someone who has managed their debt well and has a standard credit card.
Although it is assumed that people having high income can only hold gold credit card but now the eligibility for affording this card has been changed little bit. Almost anyone earning an average salary can apply for a gold credit card these days. For this reason, many financially astute people feel that gold credit cards have all of the same functions as standard credit cards, but that members are being charged significantly more for the privilege of being a member than standard credit card members.
August 10, 2007 – 6:31 am
A credit card is one of the ways of doing payments for goods or services. It is of great help but you should be wary of the costs involved in credit card system. It covers lots of benefits and is helpful in every respect but credit cards should be wisely used.
Obviously, days are bounded by electronic equipments and people are inclining towards these electronic equipments. In fact, they always look for cheap and best thing and they need every thing done electronically. World is becoming dependent on such things. The credit card is in demand from last 10 years. The usage of credit cards is going on increasing day by day.
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August 10, 2007 – 6:28 am
Now a days the fastest mode of payment is e-money. People find it risky and inconvenient to carry cash with them when they have to go for a big purchase. If we talk of mode of payment then it can be anything like debit card, credit card or charge card. Credit card and debit card both work in different fashion.
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August 10, 2007 – 6:25 am
There are many types of credit cards. Depending upon your requirement about how you use credit card and then compare with the type of credit card available. Then you can go for the credit card the one which suits you most.
Charge cards
Charge cards are different from credit cards. In charge cards there is no limit of how much you spend. You may charge your card as much as you want. The full amount can be paid in installments every month until you pay off whole amount. If you do not pay whole amount then you get grace period of one month. After that your account is closed and your bill is sent to collection department.
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August 10, 2007 – 6:23 am
Advantages:
Credit cards are used by number of people. Its demand is growing day by day. It has many advantages:
- If you have an unexpected, large purchase, credit cards can be used to meet out these unexpected large purchases instantly and settle up later.
- It enables you to spread the cost of expensive purchases, like computers. Rate of interest is charged but if you are dealing with a issuer who is providing low rate of interest, this needn’t be too costly.
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