Business Credit Card: How to Use One Effectively

As an entrepreneur or business owner it is likely that you will have diversified personal and professional needs. Not always will you want to fund these requirements using your savings. Moreover, taking a high-interest loan may not a financially viable solution at all times. This is when you can access handy cash via a business credit card.

Here is how you can effectively use a business credit card to fund an array of needs. 

Book travel for business purposes with ease

Being a business owner, you may have to travel within the country and internationally in order to meet your clients or to pitch for new business. In this regard, even if you have to spend a lot of money to visit a client at the farthest corner of the world or have to live out of your suitcase, the expense is justified. This is because ultimately adding clients to your roster will ensure business growth and better income. 

However, dipping in to your business profits or personal savings is not a solution as you may end up depleting the amount. Here, you will need a good business credit card that comes with a high credit limit. Moreover, you must look for a credit card that offers you additional travel privileges, discounts, cashbacks, and allows you to earn reward points on your transactions. This will offer you more flexibility, convenience and savings.

Convert your business purchases into EMIs

When running a company, you will encounter an array of needs that require your immediate attention and funds. For example, you may want to buy some business equipment to expand operations, or may want to purchase raw materials so that your production unit can increase the output for your next order. Funding these requirements using a credit card gives you a chance to convert your total bill into EMIs. This allows you to save more and also helps you operate within your budget without having to touch your emergency funds. If you choose the right credit card, you may even be able to opt for No Cost EMIs.

Take a loan against your limit in case of emergencies

Apart from the everyday expenses, you may need funds at a short notice or on an urgent basis. Let’s assume that you are planning business expansion for which you are finalising an office and warehouse space. Amidst all this, a family member needs to be hospitalised and you find yourself in a bit of a tough spot as far as finances go.

In this case, with a credit card like the Bajaj Finserv RBL Bank SuperCard, you can easily use your credit limit as an interest-free loan for up to 90 days to make payments with ease. This card, available in many variants, is a card of convenience and doubles up as a debit card and offers shopping on No Cost EMIs too. More importantly, you only have to pay a flat processing fee of 2.5% to avail this facility and you can repay the amount in 3 instalments. 

So don’t neglect the importance of having a credit card as a business owner. Start by checking if you match the credit card eligibility criteria and apply for a SuperCard variant based on your requirements. Check your pre-approved credit card offer from Bajaj Finserv to expedite the process further!