Made Simpler Partnership to offer businesses tailored advice and easy-to-follow tips online for free

In an important contribution to National Small Business Week, Better Business Bureau and Capital One Financial Corp. have partnered to create a unique set of free resources to help small businesses learn how to effectively use and manage their credit.  Recognizing that not every credit cardholder is the same, BBB and Capital One are pleased to announce the addition of a new free online Guide with tips and useful advice to help meet the unique credit and money management needs of small businesses.

The new guide, Managing Credit — Made Simpler: Small Businesses, is available at www.bbb.org/credit-management and includes practical advice and checklists to help small business owners choose the right type of card to meet their business needs. The guide outlines some of the most common features, benefits, and issues to consider before choosing a card, including: 

• Expense tracking. Most business cards provide expense reports that are divided into categories and make it easy to track your spending and report expenses for your taxes. You may be able to import the information into your accounting and tax software.
• Higher limits. A business credit card may offer higher spending limits than a personal card, which can help with monthly cash flow. It is also important to separate your business from your personal expenses to simplify reporting.
• Cards for employees. Many business cards allow multiple employee cards on your account with pre-set spending limits, which helps build business credibility and simplifies expense tracking and travel reimbursement.
• Helps build your business credit record. A good history managing a business credit card can help you build your business credit record and improve your profile when applying for a business loan and line of credit.
• Added protection. A business credit card may also provide travel insurance and auto rental insurance for you and your employees.
• Special perks. The business card may offer airport lounge memberships, concierge services, and other special benefits.
• Extra benefits. Most business cards offer rewards programs or cash rebates.

All of the resources and guidance made available through Managing Credit – Made Simpler can be found online for free at www.bbb.org/credit-management/.  In Southeast Texas, call 409/835-5348 or 855/BBB-SETX.