Establishing Business Credit – Secured Business Credit Cards

| July 23, 2011 | 0 Comments

Establishing Business Credit – Secured Business Credit Cards


Free Online Articles Directory




Why Submit Articles?
Top Authors
Top Articles
FAQ
ABAnswers

Publish Article

0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Login


Login via


Register
Hello
My Home
Sign Out

Email

Password


Remember me?
Lost Password?

Home Page > Business > Establishing Business Credit – Secured Business Credit Cards

Establishing Business Credit – Secured Business Credit Cards

Posted: Apr 05, 2011 |Comments: 0
|




]]>

Many businesses now use corporate credit cards to pay their bills, particularly those between their suppliers or vendors and themselves. There are a number of products on the market that can meet these needs. They include the traditional credit card that accumulates a balance monthly and requires only a minimum monthly payment to keep the account up to date as well as procurement cards that are used by many companies to purchase small items or supplies. An example of a procurement card might be a gas card that allows employees to fill up the company vehicles.

But another form of credit card used by businesses is called a secured business credit card. The difference between a traditional credit card and a secured business credit card is that the latter requires a business to open and maintain a savings account that provides a backup to the creditor in the case of any defaults or missed payments by the borrower.

A secured business credit card can be used to pay for all the same services as a regular business card and in order to open one a bank or credit card company will require a savings deposit that can range from a few hundred to several thousand dollars. The business is then allowed to use the secured business credit card up to the level of this deposit, although some lenders put additional restrictions on the borrowing amounts depending on the credit rating of the business.

]]>

In addition there are normally application and processing fees for a secured business credit card that will cover the administrative costs of the application including any credit or reference checks that the lending institution may wish to carry out. These fees vary from lender to lender. A secured business credit card is also usually more expensive to use than a conventional credit card and often has an annual fee and carries a higher rate of interest than a traditional credit card.

The advantages of a secured business credit card are that it allows the business to continue to access the convenience of using a credit card, even if their overall credit rating or credit score is not that great. Even companies and individuals that have faced serious financial problems like loan defaults and bankruptcies are eligible to apply for a secured business credit card. Sometimes a secured business credit card can make the difference between business survival and their downfall because it lets the business pay vendors who are reluctant to advance any more supplies unless they have a guarantee of cash or a secured business credit card in their hands.

The other major advantage of a secured business credit card is that it allows a business to build or restore their business credit rating. Many financial reporting agencies look at the successful use of a secured business credit card as a step on the road to rehabilitating poor credit scores and in the long term can assist a business to recover its credit rating and its reputation.

David Gass is President of Business Credit Services, Inc. His company publishes a weekly e-newsletter on Starting and Growing a Small Business at http://www.smallbusinessconsulting.com You can sign up for their free newsletter by visiting http://www.smallbusinessconsulting.com

Start increasing your traffic today just by submitting articles with us, click here to get started.
Liked this article? Click here to publish it on your website or blog, it’s free and easy!

FraSloa
About the Author:

]]>
Questions and Answers

Ask our experts your Business related questions here…

Ask

200 Characters left

A business credit card debt was reported in my Personal Credit report as a O-9 (COLLECTION).Can a business debt that was open under my EIN be reported in my personal credit report? How can I remove it
Does citibank have a secured credit card ?
I just read that credit card interest is tax deductible as a business expenses for businesses, contractors, self-employed. Is this true for 2010?

Rate this Article

1
2
3
4
5

vote(s)
0 vote(s)

Feedback

Print

Re-Publish

0) {
ch_selected = Math.floor(Math.random()*ch_queries.length);
if(ch_selected == ch_queries.length) ch_selected–;
ch_query = ch_queries[ch_selected];
}
}catch(e){
ch_query = document.title;
}
]]>

Source:  http://www.articlesbase.com/business-articles/establishing-business-credit-secured-business-credit-cards-4539415.html

Article Tags:
establishing business credit secured business credit cards

Related Videos

Related Articles

Latest Business Articles
More from FraSloa


Fighting Credit Card Fraud

Specific ways that you can help avoid credit card fraud. (01:01)


How to Navigate New Credit Card Offers

Read more:
Best Credit Cards for You
Whether you carry a balance or pay it off, and whether you want air miles, cash back or payment flexibility, we’ve analyzed all the offers out there to find the best card in each category. (01:42)


Dos and Don’ts of Using Credit Cards in the Downturn

MoneyWatch’s Eric Schurenberg fills us in on some of the tricky ways credit card issuers are putting the squeeze on customers and what you can do to fight back. (01:51)


Over Using a Credit Card

Better discusses the pros and cons of charging on a credit card, and how to make sure you keep yourself, and your assets, safe. (03:52)


How to Pick the Right Credit Card Plan

Joan Goldwasser explains what to look for when choosing a credit card, where to find it, and what to do if you’re suffering from bad credit. (01:54)

Should You Get a Secured Business Credit Card?

If you are a business owner, and you are trying to determine what type of benefits secured business cards can offer you, then you are likely not alone. There are a variety of entrepreneurs who unfortunately overlook the benefits that are associated with secured business credit cards.

By:
Jud Hoganl

Finance>
Creditl
May 07, 2010

Ideas Using Secured Business Credit Cards

It’s true that unsecured loan such as these offer dynamically favorable advantages to the small business owner.

By:
JiteAroral
Financel
Mar 29, 2011

Establish Business Credit Using Secured Business Credit Cards

Do you already have a credit history for your company? If not, this article is for you. This contains matter that you must seriously consider now.

By:
Pamela Williamsl
Businessl
Jan 12, 2010

Secured Company Credit Cards

Mainly because you are just now creating your business’s credit score historical past, just about every payment counts and becoming late even as soon as can do damage to your company’s credit rating. By utilizing your secured small business credit card and managing it wisely you are going to be nicely on your way to developing a solid credit score heritage for your corporation and putting your small business on the right money path. Have you been looking for a way give your employees…

By:
Logan Wilderl
Shoppingl
Jun 13, 2011

Business Credit: No Personal Credit or Guarantees

Business Credit – What is business credit? Learn how to obtain corporate credit for your business without using personal credit or personal guarantees.

By:
Marco Carbajol
Financel
May 27, 2010

Sydney Powerboat Center

Power Boats- We are providing boats for sale, boats broker, ski boats, luxury boats, fishing boats and many more boats for sale in Australia.

By:
Rohit Tiwaril
Businessl
Jul 23, 2011

Feel the exotic luxury while investing in koh samui

Koh Samui Property- Koh Samui based real estate agency specializing in sale of luxury residential homes, Apartment, Thailand Property, Luxury Villas, Condos and lands

By:
nagendral
Businessl
Jul 23, 2011

The Right Mannequin for the Rite Store

Like the clothing you wear, it takes taste and talent to know what goes with what. Mastering your style is a critical step in your self-expression and allowing you to expose the parts of yourself that you want others to see. People are going to judge you one way or another and being able to influence their judgment not only puts you in control of their impressions but helps you get to where you need to go in life.

By:
Peggy Aauyeungl
Businessl
Jul 22, 2011

Rural Building Energy Situation is Grim But Have Great Potential

Since reform and opening, with the improvement of their living standards, upgrading of rural housing has entered a peak period. In the majority of farmers towards the well-off, while the energy consumption of residential villages coincided with an unprecedented level of change.

Now, China’s rural civil goods and use of energy…

By:
Lanbo Jiangl
Businessl
Jul 22, 2011

Essential Features of a Cellular Phone

Communication is one of the most essential things on our lives. Certainly, we can never interact with anyone without communication. That is why, our means of communications were made wider. Nowadays, there are a lot of gadgets and tools that can be use to get in touch with people. One of these gadgets is the cellular phone or mostly known as the cell phone.

By:
Daryl dela Cruzl
Businessl
Jul 22, 2011

Leading Causes Of Childhood Obesity

While tobacco still causes more avoidable deaths each year, the obesity statistics have been rising to a disturbing level.

By:
FraSloal
Healthl
Apr 05, 2011

Why Choose Secured Loans?

You’ve done your research and read all the advice, listened to the experts and you know what they have to say about taking out secured loans.

By:
FraSloal
Financel
Apr 05, 2011

A Real Tweet Adder Review – Including Twitter Strategies You Can Try With It

It’s boring and it’s a waste of web space! I’m going to discuss what can’t be found on the Tweet Adder site, namely: how not to get suspended, and a comparison of the software with my previous Twitter client.

By:
FraSloal
Internetl
Apr 05, 2011

Business Development For Engineers

But where do buyers of their services look when they need an engineer? Outside of the Architects and Public Works officials who use networks and relationship, most potential customers are searching online.

By:
FraSloal
Businessl
Apr 05, 2011

Worship Leading Tips – How to Lead Praise

This difference is very arbitrary and does not have to be catered to at all, but for the sake of this article, I am going to concentrate on the faster part of the worship service, the part known as “praise”. A later article will talk directly about the worship section.

By:
FraSloal
News and Societyl
Apr 05, 2011

Add new Comment

Your Name: *

Your Email:

Comment Body: *

 

Verification code:*

* Required fields

Submit

Your Articles Here
It’s Free and easy

Sign Up Today


Author Navigation

My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box


FraSloa has 18 articles online

Contact Author

Subscribe to RSS

Print article

Send to friend

Re-Publish article

Articles Categories
All Categories

Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing

Business

Agriculture
Ask an Expert
Business Ideas
Business Opportunities
Corporate
Customer Service
Entrepreneurship
Ethics
Franchise
Fundraising
Home Business
Human Resources
Industrial
International Business
Leadership
Management
Negotiation
Networking
Non Profit Organizations
Online Business
Organizational
Outsourcing
Presentation
Project Management
Public Company
Public Relations
Sales
Six Sigma
Small Business
Strategic Planning
Team Building
Training

]]>

Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog

Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Mobile Version

Webmasters
RSS Builder
RSS
Link to Us

Business Info
Advertising

Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2011 Free Articles by ArticlesBase.com, All rights reserved.

Filed Under: business credit cards

Leave a Reply

You must be logged in to post a comment.

Get Adobe Flash player