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Get the FACTS about Credit Cards...

Here is what you need to know...
   to break free of Credit Card Karma:

Credit Card Deals...
Specialty Credit...
   Small Business Credit Cards

If you are a small business owner, before you go this route...
    Here are some things to consider:

* Are you really interested in all the special features offered by these cards?
* Is the Small Business Card really a better deal compared to your individual card?
* Is the Small Business Card really a better deal compared to a business loan?

There is a special breed of credit cards especially created for small businesses. Small Business Credit Cards are the same as other unsecured credit cards... with the following differences.

* The credit limit on Small Business Credit Cards can be flexible (instead of fixed like a personal card).
* Small Business Credit Cards may have lower annual percentage rate interest (APR) than personal cards.

* Most Small Business Credit Cards offer "business rewards" to "members" at special, discounted rates.
* Most Small Business Credit Cards provide specialized accounting statements for business expenses.
* Most Small Business Credit Cards offer better customer service (compared to that for personal cards).

Small Business Credit Cards offer their cardholders.. the following advantages:

* Cash Management Features:

With flexible credit limits, Small Business Credit Cards offer financing options when they are needed the most, like managing expense peaks and meeting seasonal demands. This allows the small business owner greater flexibility in managing cash flow.

* Superior Membership Benefits:

Compared to personal credit cards, Small Business Credit Cards have great membership benefits. These include: discounted tickets to local events, car rental coupons, dining coupons, gift offers, frequent flyer miles, travel insurance, discounted offers, and so on.

* Business Expense Accounting:

Most Small Business Credit Cards offer accounting for all business expenses. Each business expense is tracked and classified by categories that the credit card company specifies. This provides valuable information which can be used for budget tracking and business decision making.

* Customized Expense Accounting:

Some Small Business Credit Cards allow you to classify the expenses by categories you specify. Others offer the credit card statement data as electronic feeds which can be directly imported into accounting software, allowing you to organize and classify the data as you chose.

Here are some good rules of thumb for small business owners to keep in mind:

* Be sure to separate your business expenses
    from your personal expenses (use different credit cards).

* Be sure to reconcile the expenses reported
    on the statements against the actual receipts.

* Do not just rely on the credit card statements:
    keep copies of original receipts for tax purposes.

* Try to remain within 60% of your credit card limit
    and never, ever go over the credit limit.

* Pay off the minimum balance on the credit card
    during times of peak cash management needs.

* Pay off any outstanding balance once the expense peaks are past
    - try not to have a permanent balance.

* Be careful who has custody over the credit card:
    limit its use to only key employees.

* Where possible, have cards for each eligible employee
    so that accountability can be tracked.

* Be sure to immediately cancel credit cards
    for employees who are about to be terminated.

* Insist on annual renewal dates
     (you do not want cards that are active for more than one year).

* If offered, have the credit card block types of expenses
    that you do not wish to authorize (like gifts).

* Make sure that fraudulent transactions are
    reported promptly to the credit card company.