Term Business Loan

How Many Business Credit Cards is Too Many?


When your business is operating in many places, you will find business credit cards useful. You want a card that you can give to workers when they travel, and you want a card you can use to purchase supplies. However, there are times when you have too many business credit cards. You want the capital you raise from AFN to be used for the expansion of your business and not the payments on credit cards. Look through the items below to figure out if you have too many cards.


You Get Them Confused

If you have too many business credit cards, you are going to get them confused. You will have so many business cards in your wallet that you cannot keep track of them, and you will likely miss one of the payments in all the confusion. When you have more than one person traveling to do business for you, they should not have two different cards. The confusion will become even greater if you have three or more cards.


The Rewards

When you are using cards that do not offer you good rewards, you have too many cards. You should only use credit cards that offer you rewards that will help your business. When you are struggling to use your rewards, that credit card is not useful. You need to channel those purchases to a credit card that will actually give you rewards you can use immediately.


The Interest Rates

When you have cards with interest rates above 10%, you need to get rid of them. You may not have checked the statements lately, but you should. You need to go through your cards to get rid of cards that have rates that are too high. You may choose to request a lowering of the rates, but it is probably better to stick with the issuer that gives you the best interest rates.


The Name On The Card

You want to have a credit card that is going to help you impress clients and customers. There are some credit cards that are not impressive. However, there are other cards that look very impressive when people take them out to pay for a working lunch or a business dinner. You must use cards that look as good as the services they offer.


When you are using business credit cards to pay for travel and expenses, you need to make sure the cards meet the criteria above. If your cards do not meet these criteria, you have too many. You could carry three or four credit cards for your business, but this does not work if your cards are not useful to you.

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