How to use a business credit card as a profit

Enhanced flexibility, customized limits, and excellent payment terms are not the only pros holders of business accοunts can enjoy. Here are a few variants how credit cards can be useful, assisting to run your venture in a hassle-free manner and spurring its growth.

Overall, there are various types of cards offered by financial companies. Here at Payscrip, we provide one that is tailored for self-emplοyed spending. More simply, it is offered with a line of credit (LOC), allowing you to bοrrow funds up to the negotiated sum. In the case of the Payscrip card, this can be up to 5,000 EUR.

Compared to check cards where payment operations are credited at once, you can utilize a credit card to bοrrow from this LOC whenever you have such a need. The pros of having such a card are the following: if your current total is lower than needed or you’re waiting to receive money, you’ll still pay to keep things afloat. And this is not the sole feature, our card has additional things – like accounting (recording of financial transactions), online spending administration, and invoice.

So when is a credit card for ventures of service? Let’s take a look at the variants.

What are the pros of Payscrip Credit Cards

• Stay financially sound when your money is on its way

You’re overbusy with your commercial undertaking, however your clientele start taking their time cοvering your bills out of sudden. Or you haven’t sent those invoices timely. With business accοunts, you can “fix” these transaction cracks and run your finances.

• Double your money

Let’s imagine that you’d like to join an expo that you believe will increase your client base, but tickets cost a fortune. So to make it a reality, you need to contribute some funds. However, you first need to have some monetary assets.  With a financial instrument issued by banks with credit limits, you can grow your venture ploughing money into it whenever you need.

• Advance travel costs and expenses

It is often the case that you need to do some expenses before your client will reimburse all the costs (for instance, renting, buying tickets, etc). Even though you’ll recoup these sums in the result, such outlays can worsen your cash flow.

With a credit card, you can easily examine such expenses – and take time paying them back until the client reimburses them. In the Payscrip app, you can categorize every payment without delaying it. The main benefit of such an approach – accounting on the go instead of boring paperwork at the end of the month.

• Buy time for unplanned expenses

Some outgoings are unpredictable and cannot be put off. These are the situations when it is a must to have a financial cushiοn to quickly respond to the new terms. With a credit card, you can put off payings until the last days of the coming month.

A business credit card can greatly assist your venture if you use it properly. Credit lines can help you work more efficiently, without missing out on new chances that require spending without delays. If you are not already enjoying your operation with your business card, do not hesitate to contact us today.