For consumers, credit often is considered risky business. If you own your own business, however, credit cards can be a lifeline.
"As any small business owner can attest to, credit cards can be a safety valve if you experience cash-flow crunches," says Business.com's editorial staff.
But not all business credit cards are created equal. To find the right one for your business, look first at cards' terms of service, paying special attention to introductory rates, late and over-limit fees, and foreign transaction fees -- all of which can burn your business when it uses credit.
"Don't get teased into an attractive introductory interest rate while the actual rate lurks in the wings to make an unannounced appearance," Business.com says. "Check the terms and conditions of service to see what your rate will be and if it will change after a certain time period. Another item to watch for is whether the rate is fixed or variable. A varying rate can skyrocket, leaving you paying much more interest than you planned, especially if you plan to carry a balance."
After terms of service, evaluate features and incentives, which might include points that you can redeem for goods, airline miles, services, or cash; benefits like auto rental, baggage loss-and-damage insurance, or purchase protection in case of loss, fire, theft, damages, or price depreciation; or perks like access to exclusive events, hotel amenities, and air travel upgrades.
"When choosing a card for its benefits, be sure to take a look at the limitations. While the benefits may look good on the surface, limitations may render them nearly useless in reality," Business.com continues.
Finally, consider customer service.
"When you have a question or an unexpected emergency (your card is stolen), being able to reach the credit card company quickly is paramount," Business.com concludes. "In addition, you want to be sure you can quickly reach a customer service representative over the phone. Also check to see whether the company offers online live chat. This can be helpful when you don't want to wait on hold or you have a quick question."More Tips:https://www.business.com/categories/best-business-credit-cardsQuestions, Comments, Suggestions?Contact Successful Meetings Editor in Chief Vincent Alonzo with your "How To" ideas.