Business owners use credit cards for anything from small purchases to funding the entirety of their new business. As with all cards, there are some risks that come with business credit cards. Here are a few of them.
- Linking multiple employees to the cards. It can be incredibly helpful to have employees linked to the same credit cards, however, those employees can also abuse their cards. Businesses will need to be responsible for any and all purchases.
- Interest and debt can increase drastically. Making many purchases in quick succession by many employees can drive up the interest rates and debt on these cards.
- Fewer protections. Business credit cards are notorious for having fewer protections on them compared to personal cards. Business owners should carefully read through new credit card contracts.
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