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#183201 - 12/30/08 11:49 PM Credit Cards  
renosteinke  Offline
Cat Servant
Member
Joined: Jan 2005
Posts: 5,316
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?


Business, Office, Estimating, Legal:

#183202 - 12/31/08 12:21 AM Re: Credit Cards [Re: renosteinke]  
Trick440  Offline
Member
Joined: Aug 2005
Posts: 248
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.


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#183204 - 12/31/08 01:30 AM Re: Credit Cards [Re: Trick440]  
sparkync  Offline
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Joined: Oct 2002
Posts: 812
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....


#183230 - 12/31/08 10:55 PM Re: Credit Cards [Re: sparkync]  
Jim M  Offline
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Joined: Aug 2001
Posts: 457
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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