Are you an owner of a small business? If you are, then you should look into business credit cards. You can benefit from this credit card because it will allow you to keep your personal and business expenses separate. This means that you will have an easier time in keeping the records of your business transactions. You will also benefit from the additional perks that these cards offer. Using this type of credit card can add to the professionalism of your company and will help in establishing the business credit separate from your personal credit.

Being able to separate your business and personal expenses is the biggest perk in getting business credit cards. This is an important factor in establishing the business as an entity that is separate from the owner. In the past, all small business credit is based on the owner’s personal credit. However, this can cause problems, especially if the business owner has bad credit. You need to establish business credit so that you will have a chance to build a good credit history that will help you to get loans or other credit needs in the future.

Some business credit cards also offer reward programs that allows you to earn free air travel, merchandise or even gas rebates if you make purchases with your card. These credit cards will also allow you to get additional credit cards for other key figures in your business. This is means that if a purchase needs to be made you can send someone else without worrying about hassles.

With the help of business credit cards you will be able to keep a record of your business expenses. You will receive a statement every month that can act as your monthly expense records for the purchases you make with business credit cards. This means that record keeping for your business will be easy. You will find this feature really helpful during tax time. These will also help you to keep tract of your purchases and budget.

A small business can really benefit from business credit cards. However, you still have manage these business credit cards by making sure that payments are made regularly and that your debt does not get out of control. You need to be responsible with using business credit cards so that your business can maximize these card’s benefits.

When you bring your accounts current or the bankruptcy is discharged, you can start re-establishing your credit score. Here are three tips to help get you going:

Credit Insuring

Consider insuring your credit so you can get finance when you need to buy a car. No matter how bad your credit is, automobile dealerships can arrange financing by selling you repossession insurance. It works just like any other vehicle purchase: You make a down payment and agree to make payments on the balance of the purchase price. In addition, you pay premiums to an insurance company that will cover the lender's loss if the car is repossessed. Repossession insurance is expensive, but it is one sure way to obtain a vehicle loan and re-establish your credit. If you can get a loan by other means without paying such insurance you can always do so, but sometimes this is the only way.

Getting Account Overdraft

Apply for an overdraft line of credit on your checking account. A little-known credit repair tip is to start with your own bank. Most consumer banks will provide a line of credit for your checking account. It is often called overdraft protection because it is designed to cover bounced checks.

What you can do is write a check for more than the amount available in your account. For example, if your overdraft protection limit is $300 and you have $25 in your checking account, you can write a check for $50. When the check is presented to the bank for collection, the bank credits your checking account with $100. Since you have overdraft protection, the check is not returned for insufficient funds, and you won't be penalized.

After the check is paid, you have a balance of $75 in your account. The bank bills you monthly for the $75. You can repay the money all at once, or make minimum payments every month. If you make monthly payments, the bank will charge interest and a service fee. Banks often report this activity to credit bureaus. And timely payments of debt actually improve your credit score rather than lowering it.

Join a Health Club

It may sound ridiculous but you can get in shape and re-establish credit! Actually you can join any kind of club that meets the following requirement: Clubs that require annual membership fees do arrange financing. The club is probably working with a bank or finance company, so find out who is extending the credit and whether they report payment activity.

Most credit card companies and financial institutions use the Internet for increasing their credit card sales. In addition, Internet technology has become the heart of every business transaction, by disseminating useful information, and launching an effective advertising and marketing program. The Internet is preferred by most people because of the convenience that it provides, especially when shopping for credit cards.

There are hundreds of credit card companies who are selling their credit cards online. However, potential consumers should be cautious, so that they can avoid fraudulent credit card companies. The online application for a credit card is very easy, but any mistakes will probably end up costing you more money. Carefully check the company's website, and verify that it belongs to a reputable credit card company.

The interest rates that are offered by credit card companies online are similar to other credit cards that you can apply for in person at a bank or from a financial institution. The only difference is that you are going to get the convenience and speed of the online credit card application. This will save time and gasoline!

The process remains the same, though, to find the best credit card online.

- A credit card is considered the best if the offer suits the needs of a particular individual, that is, YOU. Different people have different needs. Remember that credit card offers also vary depending on who is applying for the card. You must consider your greatest need first in order to help you find the right credit card.

- Make sure you do comparisons, since thousands of credit card offers are given by various websites. Bombarded with these options, you might be pressured to settle for what you initially think is the best. You should always conduct reviews regarding the credit card offers.

- Understand what a free credit card is all about. An annual fee or application fee is not required by card holders just to obtain the credit card. Review the online application forms, and reread them until you have an understanding of everything in the offer. You want to find where it is stated in the application that it is a no annual fee credit card. This is very important. Take note that this type of credit card is offered mostly by stores and banks.

- The payments for the products you purchase are allowed within a specified period of time. So, a credit card is just a modern term for borrowing money. Even if you applied for a free credit card, you will be charged with monthly interest fees when you have any credit card balances. It helps a lot if you read the conditions and terms carefully. A late payment fee will be also charged if you pay your expenses past the due date. So, do your best to make your payments earlier than the due date if possible.

- Most consumers think APR's with the lowest rates are the best. They have based their findings on the equation that the lower the APR is, the lower the expenses they are going to incur. Always weigh different options provided by credit card companies on low APRs or even 0% APRs. It could make a huge difference in the long term expenses of your credit cards and savings credit card.

It is very time consuming, especially for first timers, to find the right credit card online. However, use your initiative as much as possible. Read forums, and consumer's review. In the end, it is worth it to file an online application for a well-tested credit card that is designed to fit your lifestyle.

Probably not, but establishing credit gives consumers financial opportunities they may not have otherwise. When a lender issues you credit, they are giving you payment terms on a purchase so you can buy something today and pay later. Sometimes the lender gives you a payment plan. This means that the lender trusts you to repay the loan installments in a timely manner without paying late or missing payments.

How Does It All Begin?

The first time you buy something on credit, you’ll probably get a small amount and a short repayment program. If you repay this first loan or financed purchase in a timely manner without any delinquencies, the truth on your ability to repay and on your repayment behavior will increase and so will your credit worthiness.

Advantages of Credit

Having the ability to get credit gives you security and financial flexibility. You never know when you may run into a situation that requires emergency cash. With credit, you can take advantage of sale prices on items that you don't have the money for right now. To buy a home or a car, most people need credit.

Credit also gives you liquidity. You may have money tied up in a CD or some other sort of investment that you can't access for awhile. You can use credit to make a purchase and then pay it off when your money is available. This was the main purpose of credit at the beginning, only after some time it began to be used to finance purchases for which people didn’t actually have the money.

Traveling And Credit Cards

Travelers will find that travel agents, car rental companies and hotels require a credit card for a deposit. A debit card, a card that allows you to forego writing checks, isn't allowed in these kinds of transactions. That's true when you rent any equipment, camping gear or even a lap top computer.

Health Care and Credit

With the rising costs of health care, some people use credit to pay for their medical expenses. Although most hospitals will allow you to work out a credit plan, most physicians won't. A credit card comes in handy in a medical emergency. But in any case, if you don’t have the cash for paying for medical services, you’ll need to resort to some kind of financial source.

Credit and Businesses

A credit card helps when you have to keep track of business expenses. A card that you pay off monthly provides a record of all your expenses and let’s you know which ones belong to you as an individual and which ones belong to your business. But even if you are running a company or want to start a business and have separate accounts, having access to credit is unavoidable. Most companies will sooner or later agree with a bank the provision of a line of credit with certain flexibility so they can finance their production chain.

Bad credit becomes a major problem when it gets necessary to obtain loans from banks or lenders. Although restoring credit is a daunting task, but it is very important and worthwhile in order to avoid further complications, and would help restore my credit with banks or creditors. Restoring credit often becomes difficult when we already have several credit related problems, but there is always a solution to a problem. Therefore, the aim should be to find ways that would help restore my credit.

Guidelines To Restore My Credit:

Restoring credit is a complicated task but it could certainly be made easy with the help of the following guidelines:

Improving on habits: Improving on some personal habits is important to prevent bad credit. When it is difficult to keep financial commitments, one would need to seek advice from a credit repair specialist.

Professional advice: Apart from correcting personal spending habits, one also needs to seek advice about finances from accountants, business professionals, financial service agents and attorneys.

Order a copy of credit report: Ordering a copy of credit report from leading credit-reporting services would be a good idea. According to the law, it should be made available to everyone free of cost once a year. It would contain a list of all the debts and even indicate problem areas like the number of late payments, over a period of thirty days. One needs to make corrections and update erroneous information on credit reports, to help restore my credit. Any credit item, which is disputable, can be pointed out. It would be better to put it in writing so that a creditor or a bank would be able to refer to and understand the dispute. Try to maintain a consistent work record, regardless whether it is a full time or part time job. The basic idea being, to show a constant source of income.

Estimate errors of credit report: It is very important to estimate errors in a credit report so that it is easier to know what needs to be improved upon. Some mistakes such as incorrect age or address can be fixed easily, but others demand a considerable amount of attention. For example, if one finds that the credit report contains somebody else’s debts, or if closed accounts show as open and other similar problems, one needs to notify the credit-reporting agency, along with the proof.

Factors that would help restore my credit:

Cancel all credit cards except one or two: Keep only one or two credit cards, as creditors assessing the credit report would observe better credit management. It would suggest that timely payment to one or the other credit card is being made regularly.

Prepare a detailed and realistic budget: Try to make a realistic budget in detail, which includes all kinds of monthly expenditure, along with an increased buffer to take care of sudden expenses. Then call all the creditors and let them know of the changes that have been made.

Pay all the bills on time: One could even take a small loan from a bank or credit union and pay your debts back on time. Check that the credit union reports about it to one of the three main credit-reporting services. The debtor needs to test the credit rating after a few months by applying for a new credit card from a local merchant or bank.

Return old credit cards: Destroy or return as many old credit cards as possible. One should keep paying up on the extra balance until the account is cleared, thus being able to convince the creditor to forgive the rest of the debt. One needs to ensure paying a little more than the minimum payment. As the balance of a credit card drops, it would be necessary to maintain the larger payments. Then, you need to apply to the banks or creditors to get your finance for the next credit card. However, ensure that you maintain the minimum amount on all the cards.

Therefore, it is very important to improve on the credit score to avoid embarrassment of being denied credits. Moreover, it would save a lot of money in interest rates.