SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 25 May, 2018  

Credit.card9.thmb.jpg 8 reasons why credit cards make small business financing simpler

   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
Digikredit Finance Pvt Ltd. | 25 May, 2018

Credit cards are the key to a healthy business. Apart from being good for emergencies and fraud protection, they are undoubtedly a convenient source of capital for small business financing and vital in building up a good credit score.

Read on to find out the host of other benefits that will change your perception about credit cards.

The ease
Credit cards make it simpler to buy things as it saves you the hassle of handling huge amounts of cash. Buying now, paying later and using a credit card for airlines and hotels that don’t accept cash, surely makes life convenient.

The protection
Fraud and theft protection is non-existent for cash. However, fortunately, the same is not true in case of loss of a credit card. Also, a dispute charge on your credit card is mostly not charged until the dispute is resolved. In other cases, the money is often lost.

The speed
A loan against a credit card is the best option especially, for speedysmall business financing. Surprising as it may sound, the credit score that your credit cards help build with timely payments, actually encourages a bank to disburse a personal or business loans quickly, without any documentation and at comparatively lower rates of interest.

The management
If you are using cash or a debit card, it is easy for your personal and business expenses to get tangled up. Opening a business credit card allows you to stop using personal credit cards for business transactions, thereby clearly defining the structure to operate your funds.

The reputation
Paying off small amounts you charge on your credit card is a great way to create a credit history. This good credit report can in turn help you get a personal and business loan at an excellent rate of interest.

The insurance
Once you swipe your credit card to make a purchase, the company can vouch for the money you have spent in case of a loss, damage or robbery. Using credit cards to make huge purchases not only offers insurance but also secures your interests as a consumer of business loans.

The bonus
Just using a credit card helps you earn free money. Many credit cards offer rewards, including cash back, airline miles, store vouchers, discounts, rebates, gift cards and many more. As an added bonus, rewards earned on employee-issued credit cards all go toward the business.

The flexibility
Credit cards are the plastic money you can carry everywhere for the cheapest and most convenient transactions. Such cashless transactions are not only travel efficient and safe but protected too.

With quick and hassle-free small business financing becoming the need of the hour, many business owners are turning to credit cards for basic types of cash transactions. Your finance is one of the most important areas of your life, and your credit card makes sure that you get the most out of it.

** By association with Digikredit Finance Pvt Ltd , an NBFC, which operates under the name SMEcorner and offers credit to small business owners.

Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

Hitsing and cycling fan
Eknath Mhaske | Sun May 27 03:24:15 2018

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter