Business Rewards Cards
Business Rewards Cards – Business credit cards can be a great tool for any business. Large or small to assist in the money management process. Some of the first things that most consumers take into consideration when deciding between credit card accounts is APR, credit limit, annual fees, late charges, and other miscellaneous fees. There is nothing wrong with this, as these are all critically important factors when trying to decide which card program is the best one for you. However, once you have narrowed your search down a bit, be sure to take a good look at some of the rewards programs that these cards usually offer. You must always try to find the rewards program that you feel you will reap the most benefit off of. Here are some of the kinds of rewards programs that different accounts will offer.
Cash Back Rewards
One of the most basic rewards programs can also be one of the most lucrative for consumers. Cash back business cards will all generally work the same. For every purchase charged to your card you will earn a certain percentage of each transaction towards your cash back balance. The percentage will obviously vary with each account. Also by your business or personal credit history, although it is typically somewhere between 1-4%.
When you elect to redeem your balance you can elect to have the money credited back to your monthly statement. Request a paper check be sent or an electronic deposit be made. If you have a business with multiple card users and/or accounts then this amount can really add up quickly and save your business a good chunk of money.
Keep in mind that each credit card company is different, thus making the rewards programs for each different as well. Some programs will offer a different percentages of earnings depending on what you are spending.
Airline rewards cards are some of the most popular among larger businesses. For those that require their employees to be frequent travelers. These cards basically accumulate “points” for each dollar you spend on your account. You can then redeem these points for airline purchases. These accounts tend to vary a lot depending on your card provider. Some will only allow you to choose a specific airline for your flight and may also have certain black-out dates restricting you on your travel options. As with the cash back cards, these cards can have limits in regards to point accumulation. Also some card providers will charge a fee each time a flight is booked.
Some of the most popular cards these cards are ones with a gas rewards program. The ever rising fuel prices have left a large hole in the pockets of many small businesses. These cards offer you a certain percentage back every time you make a stop at the pump. If you have a handful of drivers on the road then it is almost silly for you as a business owner to not at least look into what a gas card can do for your company.
The points accumulated on these accounts can go towards free nights, as well as upgrades. If you are staying at a high end hotel, and you have enough points accumulated. Then you may be able to mosey on up to a suite or a penthouse room.
Product and Service Discounts
A lot of card issuers have partnered up with different product and service providers to help bring you that will pertain directly to your business. An example can be rewards points that are redeemed at an office supply retailer such as OfficeMax or a UPS store. Shipping expenses can really rack up for a lot of businesses. There are numerous rewards programs that will help save you money in that area. The possibilities here are nearly endless with rewards programs, so always be sure to go through each account accordingly and select the one that will benefit you and your business the most.