A good business credit card does more than just help you pay for large purchases or build credit. Your credit card likely comes with a wealth of perks that can provide a lot of helpful services, complimentary gifts, crucial insurance options and more.
Whether you're trying to protect a big purchase or looking for employee-appreciation ideas, your credit card may have some awesome perks that you simply don't know about. Here are some common ones:
Flexible credit card limits.
Need a little more than your credit card limit offers? Some business cards provide a more flexible limit, allowing you to spend above your limit and repay the overage at the end of your monthly billing cycle.
Though you should always spend wisely, a flexible credit card limit could be a great tool to help you better manage your business's cash flow. Unexpected costs can pop up, and when they do, it can leave you and your business struggling to pay bills. In fact, cash-flow mismanagement is a big reason small businesses fail, so having access to capital in tough situations can be a big relief.
Whether you need to invest in new computers or you want to splurge on employee-appreciation gifts for the holidays, a flexible spending limit can help you reach goals—as long as you spend responsibly.
Airport travel insurance and other benefits.
Business cards can be an excellent source of insurance and perks when traveling. Need to cancel your trip due to sudden illness? Flight delayed due to weather and now you're stranded at the airport? Use your card to book your flights and you could be reimbursed up to thousands of dollars per trip (specifics will depend on your card) for unexpected travel issues.
Your card may also provide lost-baggage insurance so you won't be stranded on that business trip without pants. Tack on concierge services that can help walk you through claims, and travel accident insurance in case of emergencies, and your business card becomes a trusted travel companion.
If your employees need to travel for work, consider booking their tickets with your business card and let them enjoy helpful perks like airport lounge access, which often offer things like complimentary cocktails and meals, as well as respite from the chaos of airport travel.
Car-rental insurance and assistance.
If you're stressed out about driving a rental car during a work trip, your business credit card can be there to help protect you. If anything should happen, from a fender bender to theft, some credit cards offer varying levels of coverage. There may be some limits, such as what types of cars are covered or what country you're in, so check with your card issuer.
Though you should always spend wisely, a flexible credit card limit could be a great tool to help you better manage your business's cash flow.
Roadside assistance may also be included, so if you get a flat tire or dead battery on your way to a meeting or conference, you may be able to use your card to get in touch with a tow truck, locksmith or whomever else you need.
Early and better access to events and experiences.
Stumped for employee-appreciation day ideas? Looking for a unique way to impress prospective clients? Your business card may help you gain access to upcoming events and experiences, with potential discounts on special seating. This can include sporting events, concerts, movies, conferences, wine tastings and other entertainment.
Then, when you're there, your card might unlock VIP perks, such as complimentary food and beverages or access to premier lounges.
Almost every business credit card on the market will have some combination of these underutilized credit card perks, with varying levels of coverage, access and protection. Do some research about which card might be right for you—or investigate which perks your current card already offers. You may be surprised by what you find.
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