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#16698 - 11/15/02 01:15 PM "Business Credit Card"  
sparkync  Offline
Member
Joined: Oct 2002
Posts: 812
NC
I know this is probably sort of dumb question, but I'm always getting calls and mail wanting me to get a company credit card. I usually throw them in the trash, because I don't like credit cards,
(been there, done that), but thinking I might find something on line that would benefit my business, I'm thinking maybe applying for one 'just in case' [Linked Image] to use just for my business. Anyone got any preference or all they just about the same??
:rolleyes Thanks........


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#16699 - 11/15/02 03:13 PM Re: "Business Credit Card"  
HotLine1  Offline


Member
Joined: Apr 2002
Posts: 6,803
Brick, NJ USA
SparkyNC:
Look for one with the lowest interest rate, and a "no fee" for the privelege of having the card.naturally.
IF you pay the balance every month, then that don't matter....but, WHEN the mail is slow, ya got to watch the interest rates.

They are a good thing to have in your pocket, but you have to maintain control.
John


John

#16700 - 11/15/02 03:27 PM Re: "Business Credit Card"  
SvenNYC  Offline
Member
Joined: Aug 2002
Posts: 1,691
New York City
You never know when you're in a situation where you will ABSOLUTELY need a credit card (need extra tools or material to finish a job _today_) and you have no, or not enough, cash to pay for it immediately. So in a way, it's a good "insurance."

Also be careful when you throw out those credit card mail offers. Shred them up into tiny bits and flush some of the bits down the toilet and throw the rest into various garbage cans (that way someone going through your trash can't put them back together with a roll of sello-tape).

Good luck [Linked Image]


#16701 - 11/15/02 03:38 PM Re: "Business Credit Card"  
Scotts  Offline
Member
Joined: Jan 2002
Posts: 209
Ventura, CA, USA
Get an ATM (check) card that is hooked up to your checking account. It acts just like a credit card, but takes the money out of your checking account instead of getting a bill. At least here in CA all the places that take VISA take my check card. Two things remember you Persoanl Identification Number (PIN) and keep the receipt to write down in your check book at the end of the day.


#16702 - 11/15/02 03:40 PM Re: "Business Credit Card"  
Scotts  Offline
Member
Joined: Jan 2002
Posts: 209
Ventura, CA, USA
Another thing, make sure you have enough in the checking account to cover what you are buying!


#16703 - 11/15/02 03:48 PM Re: "Business Credit Card"  
stevegalus  Offline
Member
Joined: Nov 2002
Posts: 14
Santa Ana, CA USA
One disadvantage to the ATM check cards is that they do not provide any purchase protection.
For example, if you take your truck in for a repair and the mechanic does a $700 valve job even though you only authorized a $30 oil change, you can make a claim to your credit card company and they will investigate it. If they find in your favor, they will issue a charge back.
If you had used an ATM check card, your only recourse would be small claims court.


#16704 - 11/15/02 05:03 PM Re: "Business Credit Card"  
Mike_Riverside  Offline
Member
Joined: Aug 2002
Posts: 33
Capitol One Business Visa is a good card. I got 0% interest for one year, then i think it goes to 9%. They also offer online statements and online payments.


#16705 - 11/15/02 08:07 PM Re: "Business Credit Card"  
Electric Eagle  Offline
Member
Joined: Apr 2002
Posts: 914
Alpharetta, GA
Another down side to a Visa check card/ Debit card is that if lost or stolen someone can clean out your checking account before you even know its gone. It can take weeks to get the mess straightened out, in the meantime you're bouncing checks. I won't have one.

We use American Express for every thing we don't get at the supply house. I love it because I get 2 frequent flyer miles for every dollar spent at Home improvement centers and gas stations, last month this added 13,600 miles to my Delta Skymiles account. If paid off every month in full(which it always is) there is no interest.

[This message has been edited by Electric Eagle (edited 11-15-2002).]


#16706 - 11/15/02 09:35 PM Re: "Business Credit Card"  
master66  Offline
Member
Joined: Apr 2002
Posts: 257
Masontown, PA, USA
Hey guys,

There was just a segment on a Pittsburgh news channel concerning the Visa check cards.

To sum up the report, they said that when you use your check card as a Visa (Choose the "credit" button on the machines)you get all of the protection that Visa offers.

When using your card as a credit card you must sign your name instead of using your PIN number.

All Visa purchases go through Visa before they get to your bank. When you use your PIN number it goes directly to your bank.

It also limits the amount of fraudulent purchases, just like Visa.

I'm not sure but, doesen't Visa offer special warranties on purchases also?


#16707 - 11/15/02 09:53 PM Re: "Business Credit Card"  
mj  Offline
Member
Joined: Jun 2002
Posts: 186
meriidian, ms
credit card, ok.... just a line of credit at the supply is good enough for me 90 days same as cash.



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