Often these terms are used simultaneously in various situations. At the same time, they bear different meanings depending upon who used, control, and manage liabilities of a credit card. The fundamental difference between these two is:
- A corporate card is like a business expanse card, often then owners authorize their employees to use the corporate cards for various expenses. Later the company reimburses employee’s spending.
- However, the business credit card is slightly different. Often it is used by the business owners to keep a tab on spending, separately. It is a credit that they take in advance from the bank and later repays it on installment.
Any business owner can request for a business credit cards Dubai as long as they provide all the authentic information and complete a procedure. Even a small business owner can request a credit card. The significant benefit of having a business credit card is:
- It builds credit history.
- Later in time, the credit history can be used as proof for creditworthiness for requesting a loan.
- The benefits of corporate credit cards are:
- Annual cash rebates and expense reimbursements
- Complete and swift control on spending and transaction
- It reduces the employee’s expanse fraud.
If you own a business regardless of its size and expansion, you should request a credit card for your business. Time never remains the same, if you think your business can survive with its own money and later in time you will not have to acquire a loan, then it’s time to reevaluate your business plan. With liquid cash, you can invest in numerous assets while maintaining a business credit card. This will help in your long creditworthiness. Thus, you can save liquid cash or either earn a profit on it by investing it in mutual funds, stock, or purchasing securities and bonds. There is a lot of stuff that you can do with on-hand cash.
At the same time, you need to understand that there are two types of the business credit card. One is a small business credit card and the other one is the regular credit card. Small business credit card is available for everyone; therefore, anyone can apply for this.
Along with this, a very suitable option to invest your cash is by opening a trade account. There are many vendors in the banking market who can provide you access to the best trading account with multiple benefits and diverse investment options.
Conclusion:
It is important for every business to consider and plan an effective strategy to keep all the spending and income in check. For such reason, instead of self-bookkeeping, you can avail the credit card option either the corporate or the business card. Now all banks offer an online account management profile which the account holder can use for funds transfer, create schedule payment, or invest in the stock. Therefore, it would be wise to consult any customer relationship manager for business and investment-related issues.
Business Blog 