Google Hangout on Air about business cards
By Laura Mohammad
May 2, 2014
We use them to pay for our cell phone bills, getting points in the process. They get us into airport lounges when we’re traveling so we can avoid the screaming babies. We even use them as financing, although we know we shouldn’t.
Credit cards are huge in the U.S. for the small-business owner.
In fact, only 16 percent of small-business owners told the National Small Business Association that they don’t use credit cards. And a third of the businesspeople polled, who were interviewed in January 2014, said they had used cards as a form of financing in the last year to meet capital needs.
Yes, credit cards are a big deal to American businesspeople. But understanding them isn’t easy. There are small-business credit cards and personal cards. There are corporate cards. Some aren’t protected by the CARD Act and the Truth in Lending Act. And you can be personally liable for the debt incurred, even if it’s a business card. That’s why CreditCardGuide.com decided to take on some of the work for you by asking the tough questions.
Greg has 30 years of experience in banking and lending. Today, he is Meriwest Credit Union‘s community relations manager in San Jose, Calif., helping Silicon Valley families with credit, retirement and banking problems.
Greg talks with our dynamic editor-at-large, Erica Sandberg, about everything you need to know before you choose a business card.
Some of the information Greg shares:
- What you should know about the CARD Act and business cards.
- When a business credit card comes in handy.
- How to know if you need a higher personal credit score to get a business card.
- The differences between a corporate and a small-business card.
- Whether it’s harder to get approved for a business card and what card issuers look for.
- If there is a time when a personal card is best.