Federal Deposit Insurance Corporation FDIC-Insured - Backed by the full faith and credit of the U.S. Government

CB&S Bank Logo

Tips on How to Manage Your Business Credit Card

Business man uding credit cardBusiness credit cards can be an excellent cash management solution for your business. They can give you added control for your business, improve your cash flow, and enhance the way you manage your business finances. However, it is important to know how to manage your business credit card. CB&S Bank has 7 tips on how to manage your business credit card:

  1. Try not to mix your business and personal credit cards—If you're using your personal credit card for business matters, it may be a good idea to obtain a business credit card. Having a credit card specifically for your business will help you to monitor any business expenses you may have and to help keep tax filing easier.
  2. Determine which credit card is right for your business—When looking for a business credit card, take the time to shop around and compare different features of all of the various types of business credit cards out there. Choose the card that will be the most beneficial for your business's needs.
  3. Be sure to make regular monthly payments—It's best to pay your credit card balance in full every month if you are financially able to do so. If you are not, try to at least pay the minimum amount each month and be sure to make every payment. By doing this you will not have to pay late fees or compromise your credit score.
  4. Review all of your statements—This one may seem like a no-brainer, however it is important that you study all of your statements. Check them and then double-check them. If you are on top of your statements, you may be able to notice any inaccurate charges before it becomes a bigger issue.
  5. Take advantage of your credit card rewards—It would be a good idea if you have a business credit card to take advantage of your credit card rewards. Some common credit card rewards benefits include extended warranty coverage, free or discounted office supplies, damage and theft protection, free or discounted office equipment, and even travel rewards, such as, free checked bags, airline tickets, mileage, discounts on in-flight food, discounts on in-flight entertainment and priority service. Some credit card companies even offer cash back rewards.
  6. Use reporting features—A lot of business credit cards offer a variety of reporting features. Be sure to take advantage of these.
  7. Take precautions if you give your employees a business credit card—If you have employees who are required to make a lot of business purchases, it may be a good idea to give them a business credit card to use. However, if you do give your employees a business credit card, try to make wise decisions. It's not a bad idea to employ a written policy for those employees. Create guidelines for business credit card usage and create thresholds that the employee cannot go over without prior authorization.

 

  1. Personal

    1. Personal Banking
      1. Personal Accounts
        1. Personal Account Comparison
        2. Star Account
        3. Star Rewards Account
        4. Prime Advantage
        5. All About U Student Account
        6. Golden Customer Club
      2. Personal Savings
        1. Savings Account Comparison
        2. Star Savings
        3. Star Rewards Savings
        4. Super Star Savers Club
        5. Christmas Club Savings
        6. Vacation Club Savings
        7. Certificates of Deposit (CDs)
        8. Individual Retirement Account (IRAs)
      3. Debit Cards
      4. Safe Deposit Boxes
    2. Personal Borrowing
      1. Home Loans
      2. Personal Loans
      3. Auto Loans
      4. Credit Cards
    3. Account Tools & Resources
      1. Personal Financial Insights
      2. Personal Financial Calculators
      3. ID Protection
      4. Access Line
      5. Reorder Checks
      6. Report Lost/Stolen Card
      7. Download a Switch Kit
  2. Business

    1. Business Banking
      1. Business Checking
        1. Business Checking Account Comparison
        2. Free Business Checking
        3. Business Select Checking
        4. Business Analysis Checking
        5. Business Interest Checking
        6. Business Prime Advantage
        7. Workplace Advantage Checking (For Your Employees)
      2. Business Savings
        1. Business Savings Accounts
        2. Simplified Employee Pension (SEP) Account
        3. Business Advantage Money Market
      3. Business Mobile Banking
      4. Business Debit Cards
      5. Treasury Management
        1. Treasury Management Services
      6. Merchant Services
    2.  Business Borrowing
      1. Small Business Loans
      2. Commercial Loans
      3. Commercial Real Estate Loans
      4. Credit Cards
    3. Account Tools & Resources
      1. Business Financial Insights
    4. Business Financial Calculators
      1. Capital Calculator
      2. Cash Flow Calculator
      3. Commercial Loan Calculator
      4. Debt Service Calculator
      5. Ratios Calculator
  3. Digital Banking

    1. Personal Digital Banking
      1. Mobile Banking
      2. Mobile Deposit
      3. Internet Banking
      4. Internet Bill Pay
      5. Zelle
      6. eStatements
      7. Mobile Wallet
      8. Make a Loan Payment
    2. Business Digital Banking
      1. Mobile Banking
      2. Treasury Management Internet Banking
      3. Business Express Deposit
  4. Home Loans

    1. Home Loan Options
      1. Apply For A Home Loan
    2. Meet Our Mortgage Team
      1. Scott Pride
      2. Charlotte Loines
      3. Alana Beaugez
      4. Derona Wilson
      5. Blake Bendall
    3. Mortgage Tools & Resources
      1. Home Loan Insights
      2. Home Loan Toolkit
      3. Home Loan Glossary & FAQ
      4. Loan Calculator
      5. NMLS Registry
  5. Financial Services

    1. Insurance
    2. Personal Investments
      1. Meet Our Team
  6. About Us

    1. Our Story & History
    2. Locations & Hours
      1. Adamsville
      2. Ardmore
      3. Birmingham Doug Baker
      4. Birmingham Mountain Brook
      5. Bolivar
      6. Cherokee
      7. Clarksdale
      8. Corinth Alcorn Dr
      9. Corinth Harper Rd
      10. Cornersville
      11. Decatur 6th Ave
      12. Decatur Beltline Rd
      13. Eupora
      14. Fayetteville
      15. Florence Downtown
      16. Florence Hough Rd
      17. Greenville Downtown
      18. Greenville Highway 1
      19. Greenwood Downtown
      20. Greenwood Park Ave
      21. Hodges
      22. Hohenwald 
      23. Huntsville Downtown
      24. Huntsville Hampton Cove
      25. Huntsville Perimeter Park
      26. Killen
      27. Lewisburg
      28. Madison
      29. Main Office
      30. Moulton
      31. Murfreesboro Church St
      32. Murfreesboro Cason Lane
      33. Muscle Shoals
      34. North Russellville
      35. Parsons Main St
      36. Phil Campbell
      37. Pike Road
      38. Pulaski
      39. Red Bay
      40. Ripley
      41. Savannah Main St
      42. Russellville Franklin Plaza
      43. Savannah Water St
      44. Scotts Hill
      45. Selmer 
      46. Starkville
      47. Sturgis
      48. Tallassee Gilmer Ave
      49. Tallassee Main St
      50. Town Creek
      51. Tuscaloosa
      52. Tupelo Main St
      53. Walnut
      54. Wetumpka
      55. Whiteville
    3. Contact Us
    4. Career Opportunities
    5. Privacy Notice
    6. Mobile Privacy Policy
    7. Privacy & Security
    8. Terms & Conditions
    9. Disclosures
  7. Education Center


    1. Personal Financial Insights
    2. Business Financial Insights
    3. Home Loan Insights
    4. Home Loan Toolkit
    5. Home Loan Glossary & FAQ
    6. Product Video Demos
    7. Financial Calculators
Go To Top