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Credit Cards

#183201 12/30/08 11:49 PM

Joined: Jan 2005

Posts: 5,485

Likes: 4

Blue Collar Country

renosteinke Offline

OP

Cat Servant

Member

As a new business, I am now - for the first time - being given a choice when I apply for a credit card .... personal, or commercial account?

Is there any advantage to one or the other? Do credit / lending laws differ?

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Re: Credit Cards

renosteinke #183202 12/31/08 12:21 AM

Joined: Aug 2005

Posts: 251

Waterford, MI, USA

T

Trick440

Member

I don't know. But I do know make sure you get something with 'Rewards' points, airline miles or something. I pay everything with them. Love getting free stuff.

Shake n Bake

Re: Credit Cards

Trick440 #183204 12/31/08 01:30 AM

Joined: Oct 2002

Posts: 830

NC

S

sparkync

Member

They told me at Lowes or Home Depot that the interest in better if it is a commercial account. I get 8.99% on one of my other business credit cards, if they haven't went up since my purchases:( Steve....

Re: Credit Cards

sparkync #183230 12/31/08 10:55 PM

Joined: Aug 2001

Posts: 466

Likes: 1

Baltimore, MD, USA

J

Jim M

Member

I am sure your accountant will tell you to keep the account comercial and to protect the corporate veil. Mixing funds and accounts is highly frowned upon by the IRS.