Do you need a business credit card? If you’re a small business owner, having a credit card that’s separate from your personal credit card can pay off in many ways.

For example, a business credit card allows your business to establish creditworthiness, which can help secure financing, the Small Business Administration explains. It’s also a way to prevent your personal and business debts from commingling.

However, there are still a few potential drawbacks. Here are some general considerations to keep in mind when deciding if you need a business credit card or not:

Bottom line: While there are many advantages to having a business credit card, you’ll still want to consider your business’ particular needs.

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Related Resources:

  • 5 Credit Card Mistakes for Small Biz to Avoid (FindLaw’s Free Enterprise)
  • Business Credit Cards Exempted from CARD Act (FindLaw’s Free Enterprise)
  • Small Business Credit Card Rates Hiked and Limits Slashed; Prospects for Reform? (FindLaw’s Free Enterprise)
  • Ask a Question About Running a Business in Our Community Forum (FindLaw Answers)

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