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#183201 - 12/30/08 07:49 PM Credit Cards
renosteinke Offline
Cat Servant
Member

Registered: 01/22/05
Posts: 5299
Loc: Blue Collar Country
As a new business, I am now - for the first time - being given a choice when I apply for a credit card .... personal, or commercial account?

Is there any advantage to one or the other? Do credit / lending laws differ?

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Business, Office, Estimating, Legal:
#183202 - 12/30/08 08:21 PM Re: Credit Cards [Re: renosteinke]
Trick440 Offline
Member

Registered: 08/15/05
Posts: 248
Loc: Waterford, MI, USA
I don't know. But I do know make sure you get something with 'Rewards' points, airline miles or something. I pay everything with them. Love getting free stuff.
_________________________
Shake n Bake

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#183204 - 12/30/08 09:30 PM Re: Credit Cards [Re: Trick440]
sparkync Offline
Member

Registered: 10/17/02
Posts: 811
Loc: NC
They told me at Lowes or Home Depot that the interest in better if it is a commercial account. I get 8.99% on one of my other business credit cards, if they haven't went up since my purchases:( Steve....

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#183230 - 12/31/08 06:55 PM Re: Credit Cards [Re: sparkync]
Jim M Offline
Member

Registered: 08/10/01
Posts: 453
Loc: Chestertown, MD, USA
I am sure your accountant will tell you to keep the account comercial and to protect the corporate veil. Mixing funds and accounts is highly frowned upon by the IRS.

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