Most entrepreneurs use their own credit card for business expenses. This was demonstrated by a study that revealed that 8 out of 10 entrepreneurs engage in this practice, which is not necessarily positive for companies.
Mainly, because it does not allow sufficient clarity to know what the business situation is and what to do to accelerate its growth. However, one of the most effective and easy solutions to implement is to obtain a business credit card , which you must allocate solely and exclusively for your business expenses, and here we explain how this can help you in several important aspects for your business .
Online and immediate application
A business credit card should help you in your business, that is why we recommend choosing one that is simple to request and that you almost certainly have approval, so that you can use your time in what your business needs.
Order your purchases
As we mentioned at the beginning, the clarity of your company’s finances is vital to know how to act to accelerate its growth. With a card for the exclusive use of your company, you will know exactly how much you are spending and on what. This will help you to know how the profitability of your business is going and thus you can make decisions with a cool head and good general visibility.
It will also relieve you of the accounting work since everything will be registered in the account statements, with nothing that escapes you.
Digital and physical credit card
Another of the great advantages of a business credit card is that when you approve your application, you get a digital card to start shopping immediately. You will also get a physical card, all backed by VISA, which gives you acceptance in practically any business in the world.
In addition, through the app you can turn your cards on and off with just one click, a security measure at your fingertips. Also if you need, you can request additional cards, up to 3 at no cost, and make each one visible with different credit limits for your collaborators.
Deduct business expenses
Among the advantages of paying with a credit card at the fiscal level is meeting one of the deductibility requirements, since for businesses, payments whose amount exceeds 2,000 pesos must be made by credit card (or debit, bank transfer or check).
Buy today and defer payments
Limiting liquidity can be a problem, which is why an instrument that always allows you to have funds available for your business is ideal.