Business Credit Cards versus Charge Cards – Which is Which?

For some people, the terms “business credit card” and “charge card” are one and the same. However, although both cards are used as business financing tools, there are differences between the two. If you are a business owner, understanding more about these two cards is important. What are the differences between charge cards and business credit cards?
Differences between the Two
Just like a personal credit card, a small business credit card can also be used to make purchases which you can pay off on your due date. As a credit card holder, you have the option to pay off your balance in full or pay only the minimum required by your issuer.
As much as possible, it is recommended to pay your balance in full to avoid paying the additional interest rate. Consequently, if you choose to carry over your balance for the next month, you’ll automatically be [...]Read More