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Eliminate Your Fears And Doubts About How Many Business Credit Cards Should I Have | how many business credit cards should i have

It's no secret that figuring out how many business credit cards should I have can be a little bit difficult. There are many different types of credit cards and they are not all offered at the same interest rate or with the same perks. So how do you know which one is going to be right for you? How many business credit cards should I have? These are just some of the questions that come to the mind of many business owners.

When trying to decide which credit card to get it's important to think about how your business is going to run if you get one. Are you going to be able to use your card to pay for employee wages and benefits? If so than having two separate cards may be in order. One credit card for employee wages and one for supplies. By not having these two things connected you will save yourself money because you won't have to pay interest on them separately.

Depending on how much money you expect to be spending on your credit cards will help you determine the size of a credit card that you should get. For example, a company that has $10K or less a month should have one credit card and one overdraft protection. On the other hand a business that has a higher amount of money can have more than one credit card and several overdraft protection policies.

Some people like to stick with the tried and true method when figuring out how many business credit cards should I have. That's using a basic principle of two each for payroll and employee benefits and one for supplies. This makes sense for most businesses because it is simple and doesn't take a lot of effort to keep track of. However, this isn't always the best option. Having too many cards can also lead to problems. Let's look at an example.

If you are a small business with only one employee, you don't need a credit card. One in most people's minds is a credit card is a way to store money and someone might steal your wallet or ID without realizing it. It is important to have a card to cover that eventuality. But this also defeats the purpose.

In addition to this, credit cards often carry annual fees, which can add up over time. So not only do you need to decide if you need to have one, but you also have to decide how many you should have. Most small companies have around 2 cards, but some large corporations have up to 50. Again, the rule is usually to have one for payroll and another for employee benefits, but this is up to you and what works best for you.

One final point on the question of how many business credit cards should I have. There are many companies online who offer them and some actually help you calculate how much credit you will need. You can then go out and shop for the best deal. These types of companies typically charge a fee for their services, but it may be worth it to find the best deal. Remember that you can always use your existing credit cards for additional purchases.

Hopefully this article has been able to answer the question of how many business credit cards should I have. You obviously need to have enough to cover your basic needs, such as your rent, phone and vehicle insurance. It is also helpful to know how much you will be using your credit card for. You should be sure that you always make payments on time and in full, this helps you to build a good history with the company. Finally, make sure that you use your card responsibly and not just to add to your profits.


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