Business Credit Cards: How they can streamline your business expenses

Credit cards are not just for the salaried and those with a steady stream of income. Banks also offer credit cards to entrepreneurs with a host of benefits that help them manage their short-term requirements involving regular payments for business expenses such as rent, travel and utility bills. Business credit cards give a host of benefits in the form of cashbacks for regular expenses such as travel, accommodation, rent, utility bills and foreign currency transactions. While only the individual cardholder is liable for personal credit cards, the liability structure for business credit cards are categorised as “sole liability, individual liability, joint and several liability”. Though the line separating the firm and the entrepreneur is quite slim, it is generally not advisable to use business credit cards for personal expenses.