By Jared Hecht
If you’re a business owner, there are dozens of reasons to have a credit card. For one thing, they are a great way to keep track of all your business expenses in one place. They also offer opportunities to earn points or rewards on purchases you would make anyway. Not to mention, they can be an excellent option for financing your business, especially if you are in the startup phase and can’t yet qualify for a small business loan.
But one thing many business owners get wrong is putting all their business expenses on a personal credit card. While business and personal credit cards may function the same way (in terms of how you use them), there are some key differences that set them apart. Here are the most important differences between a personal and business credit card—and why the latter should definitely be in the back pocket of every business owner.
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