SME Times is powered by   
Search News
Just in:   • Standardization boosts domestic growth, exports: Prabhu  • PM interacts with farmers across the country  • General Electric to be removed from Dow index  • Truckers' strike enters second day, northeast comes to 'standstill'  • Nadda releases India's health profile, launches institutional profiling project 
Last updated: 25 May, 2018  

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

Credit.card9.jpg
   Top Stories
» Standardization boosts domestic growth, exports: Prabhu
» PM interacts with farmers across the country
» Govt declares national targets for off-shore wind power
» 'Small industries must get in-hand training on Industrial security'
» Govt to spend $1 bn to boost services exports: Prabhu
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 :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

Hitsing and cycling fan
Eknath Mhaske | Sun May 27 03:24:15 2018
9975370090


 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 21 Jun, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(21)
» Modi interacts with Digital India beneficiaries(1)
» Fiscal deficit, GDP data: Is it a turnaround(1)
» Lend more to MSMEs, RBI urges NBFCs(1)
» RBI's surprise rate-hike(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter