Credit Card Role of credit card in a business

[Mandy96]

Credit card generally gives the user an opportunity to get a credit or loan for use and repay later. Business credit card plays a very important role in one’s business. Such as; covering of unplanned bills, manage spending, and so on. Now let’s talk more about these two I mentioned above.

1. Covering of Unplanned Bills:- this is the main function of a credit card, either a personal credit card or a business credit card. Normally, credit cards was originally invented to clear some unplanned or instant bills, instead of going through the stress of applying for a loan which the processing are mostly not instant.

2. Manage Spending:- by using credit card in a business it gives the opportunity for the business owner to be able to keep record of how he or she spends in the business.

 

[Good luck]

Credit card is very essential for every human to be able to do any transaction at every point in time.it also make business developed and easy to do.we are in a cashless economy and it is not advisable to be moving cash or currency up and down,so the best method to use for transaction of business is to use credit card.

 

[Good-Guy]

Credit card has gained a sharp popularity since the banking system introduced it. It was not used by many people in my country and it is still not used by various people in my country because I live in a Tier 3 country. However, I am sure it is used more oftenly in Tier 1 countries around the world.

 

[Alexandoy]

I admit that I was using my credit card for my retailing business. That usually happens when the cash flow is tight. The collections cannot be expected sometimes because some big clients would ask for consideration on the late payments (even after 30 days of credit line). However, I have to pay back the purchases using the credit card.

 

[Jasmine]

I don't suggest you to use a credit card either for personal use or for business use. Well, credit card will help you mange your unplanned expenses or pay bills but it will also put you in debt because you end up spending money on things that you actually did not need.