Small business credit cards can provide more than just a line of credit to any business owner or manager.
Depending on the credit card you choose and the features available, there can be many side benefits to using small business credit cards for managing professional expenses. These include:
- Ease of expense tracking through online banking features
- Preventing external fraud and limiting the damage from lost or stolen cards
- Providing cash back and rewards points for consistent usage
- The ability to blacklist certain categories of spending (for example, blacklisting everything but gasoline purchases for drivers, only whitelisting restaurants on weekdays when salespeople have meetings with clients, and more) with Merchant Category Code (MCC) blocking
- The opportunity to builds business credit by using small business credit cards consistently and paying them off on time
- Empowering employees to take care of their business expenses without needing to file request forms
- Automating more forms of expense reports, making it easy for employees to become more productive
- Controlling spending velocity and overall spending limits
- Minimizing the usage of checks, money orders, and other less secure transaction methods
These reasons and more are why most established small businesses make extensive use of small business credit cards to handle their regular expenses. However, in order to fully benefit from small business credit cards, you must first select the card that is right for your business. Different credit cards can offer very different features, benefits, and rewards, so choosing the right card is essential.
For help selecting the right small business credit cards for your St. Louis business, call Jefferson Bank at 314-621-0100 or use our online contact form.
Choosing the Right Credit Cards for Your Small Business
When it comes to choosing the right small business credit cards for your employees one of the first things that you should look at are what your major expenses are. If you’re in a business that requires a lot of airline travel for your employees, then airline mileage small business credit cards will deliver superior benefits. You can upgrade seats for your employees, provide vacation mileage as a perk, or use the accumulated airline miles across your company to reduce your overall costs on travel and hotels.
On the other hand, if your sales staff needs to schedule many meetings at bars and restaurants to build client relationships, then small business credit cards offering bonus restaurant rewards can help you to keep the expenses lower than they would be otherwise.
You can even use small business credit cards to purchase advertising or marketing materials and more. With cash back small business credit cards, you can improve your overall return on spending without changing anything but how you actually pay for the services.
Using the right small business credit cards also makes it much easier for your company to maintain internal controls on employee spending without onerous expense reporting policies and other added paperwork.
Learn More About Small Business Credit Cards from Jefferson Bank in St. Louis
Jefferson Bank makes it easy for your small business to find the right small business credit cards for your enterprise without wasting a lot of time on new card applications. We’ll help you to cut through marketing material to compare the small business credit cards available to your business and match you with the right ones for your goals. To learn more about our business credit card options, visit our Bank Card Center. You can also contact us online, by phone, or in person at one of our St. Louis banks to apply for our rewards small business credit cards.