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What are the advantages for maintaining business credit separate from personal credit?

There are many advantages to establishing and maintaining solid business credit. A few of these benefits are listed below.

  • 1.) With better business credit you will be able to obtain more working capital for your business. You will also be able to borrow money at lower rates.
  • 2.) Having a separate line of business credit, such as a business credit card, makes it easy to keep your business expenses separate from your personal expenses. This means when it comes time to file your taxes, you'll already have separate financial records for business expenses and personal expenses, making both your life and your tax attorney's life simpler.
  • 3.) With a business credit line, you can also extend credit to your employees by requesting additional cards. You can even control how much they can spend by adjusting their credit limits.
  • 4.) With Cash Back Rewards for your business, such as those offered by the First Equity Platinum Visa, you'll have more money available to invest in the growth of your business.
  • 5.) Perhaps the most important benefit of separating your business credit from your personal credit is that having a separate line of business credit means that your personal credit is protected if your business ever gets in trouble.

Provided by:

First Equity
First Equity is a leading credit card provider specializing in the provision of bankcards to the nation's small businesses.

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