Apply Business Credit Cards For Personal And Commerce Requirements

By Author: Credit Monarch
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Credit cards allow an individual to make the transaction on credit basis and are issued by the bank or any financial institution. These cards have become a big part of our lives. It is a plastic card issued from bank ready to lend money to its customer. The card is usually made by laminated plastic sheet and other materials like magnetic strip, micro chip, gelatin, hologram, and other materials. Every Card may be used in with a set credit limit.

A card has a front side and back side. The details on the front side are as follows:

Hologram, Expiration date, Card Holder’s name, Card number, Issuer identifier number, Issue date, Bank identification number, Logo of payment Processor, Logo of the issuing entity, major industry identifier, embedded microchip.

The back side of the card has details like:

1. Security code
2. Magnetic Strip
3. Signature Panel
4. Additional information.

The advantages of having a credit card are:

1. It allows you to shop without carrying a lot of cash which gives you flexibility.
2. Credit cards give convenient remote purchasing online ...
... by phone. It allows you the option to pay for a large purchase in small, monthly installment.
3. They are cheap for short term borrowing because you only have to pay interest on the debt owed and not the full loan amount.
4. Credit cards also offer additional benefits like cash back, air miles, additional insurance cover on purchases and discounts on holidays.
5. You don't need to run to ATM in case you need cash urgently.
6. Improves credit rating when paid timely

The credit cards also have some disadvantages:

1. The biggest disadvantage of credit card is that they compel people to spend money even when they do not have. If you have only a hundred dollars in your account, it does not matter as you can shop for more than that using these credit cards. This may seem free money, but afterwards you will have to pay for this.

2. If you do not use credit cards carefully, you will find it expensive because of high interest rates and other costs.

3. If you lose this card or it is stolen, then it may result in some unwanted expenses and inconvenience to you.

4. Using a large number of credit cards may bring you into debt.

If you have decided to apply business credit cards, remember some of the simple rules and make your life easier:

1. Never spend out of your budget
2. Keep track of all items you are purchasing
3. Never give your credit card information to anyone else. If you must, then only give the details to a reliable person.
4. At the end of the month pay the full balance on your credit card.

You can get prepaid business cards online from CreditMonarch.com as well. They offer instant fund employee purchases, free trial period, no transaction fees, and no deposit fees, low fixed rates and keeping the personal loan secure and anonymous. You can find out pages of these credit card providing companies on major social networking sites like Facebook and Twitter.