Are Business Credit Cards Good for Nurse Entrepreneurs?
LeaRae Keyes, RN
The answer to that question depends... It depends on how you use them in your
nurse entrepreneur business.
Most small business owners use credit cards for their business purchases.
Many purchases including products and services can be put on credit cards.
However, there are a few pitfalls and risks in using business credit cards in
your nurse entrepreneur business.
- It is easy to make the mistake of co-mingling personal and business expenses
when you use a credit card for purchases for your nurse entrepreneur business.
- You can lose track of where you are spending your business money because it
isn't always clear when you look at your credit card statement what you
purchased by looking at the name on your statement.
- Losing control of your business spending can also happen when you use a
business credit card. Putting a purchase on a credit card can seem like you
aren't spending real money.
- Not paying off your credit card in full results in extremely high financing
rates. This can severely cut into the profits for your nurse entrepreneur
business if you aren't careful.
Using a business credit card is convenient but use it wisely or it may cost
your nurse entrepreneur more than you think.
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