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Credit Cards #183201
12/30/08 11:49 PM 12/30/08 11:49 PM

renosteinke Offline

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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?

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Re: Credit Cards [Re: renosteinke] #183202
12/31/08 12:21 AM 12/31/08 12:21 AM

Trick440

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.

Shake n Bake

Re: Credit Cards [Re: Trick440] #183204
12/31/08 01:30 AM 12/31/08 01:30 AM

sparkync

Member

Joined: Oct 2002
Posts: 830
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....

Re: Credit Cards [Re: sparkync] #183230
12/31/08 10:55 PM 12/31/08 10:55 PM

Jim M

Member

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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