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 Credit Cards
#183201
12/30/08 10:49 PM
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Joined: Jan 2005
Posts: 5,316
OP
Cat Servant Member
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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
12/30/08 11:21 PM
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Joined: Aug 2005
Posts: 250
Member
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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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Re: Credit Cards
[Re: Trick440]
#183204
12/31/08 12:30 AM
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Joined: Oct 2002
Posts: 830
Member
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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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Re: Credit Cards
[Re: sparkync]
#183230
12/31/08 09:55 PM
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Joined: Aug 2001
Posts: 457
Member
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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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