If you’re starting up a small business, establishing good credit habits will help your company grow. Used responsibly, credit cards can help entrepreneurs save on interest when financing large purchases, rack up points to use on company expenses, and more.

Below are 6 credit card tricks you should know.

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1. Establish a Business Credit Score

While it’s easier to just use your personal credit cards to fund startup costs, it’s important to take the steps to establish separate business credit. This will protect your personal credit score if your business isn’t doing well. Decide what type of business structure is right for you. More information can be found on the US Small Business Administration website.1

2. Don’t Bite Off More Than You Can Chew

Funding your entire business through credit can set you up for some serious debt. Using your card to make smaller purchases, and then paying all bills on time, will go a long way in maintaining your business credit,

But try to seek out other forms of funding– either through investors, family or friends, or your own money — so your company isn’t resting on a foundation of high-interest credit card debt. This isn’t to say financing office expenses with your credit card is a bad thing. Choosing the right card can save you a lot in interest.

3. Take Advantage of Introductory Zero-Interest Offers

You bought computers, desks, printers, and more on credit to get your new office ready. The cost? $15,000. That’s a lot to pay off at once when you’re just beginning to earn money from clients!

If you got a credit card with a 0% introductory APR offer, you can pay that off in smaller, more manageable pieces for several months to a year. Keep track of your debt and make sure to pay it in full by the end of the introductory offer, or you’ll be paying a much higher interest rate on whatever debt you still have.

4. Use Credit to Earn Points Toward Other Purchases

You know you’re going to incur business expenses, so you might as well make the most of the spending you have to do. Pick a credit card with great business rewards like cash back, or points you can spend on office supplies or work-related travel. Some cards will even reward with extra points when you use the card on business expenses, which will grow your rewards exponentially.

5. Benefit from Employee Purchases

If you have a staff, that means you need even more computers, desks, and supplies. Consider adding trusted employees as authorized users to your business credit card. This gives them the ability to quickly make purchases for the company without having to loop you in every time, and their purchases will help you rack up rewards points even faster.

6. Take Advantage of Hotel and Airline Credit Cards

If your business involves travel for you or your employees, your everyday spending can make it easier for you to earn free flights and hotel stays. Explore using credit cards that offer you bonus points or travel rewards, and you can save your company a ton of money on travel.

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If you’re smart about building a strong business credit score, keeping your personal credit score safe, and spending wisely on the right kinds of credit cards, you can reap serious benefits that will save you money and help your company thrive. Discover currently does not offer new business credit card accounts. But Discover offers a number of credit cards intended for personal, family, or household purposes.


Legal Disclaimer: This site is for educational purposes and is not a substitute for professional advice. The material on this site is not intended to provide legal, investment, or financial advice and does not indicate the availability of any Discover product or service. It does not guarantee that Discover offers or endorses a product or service. For specific advice about your unique circumstances, you may wish to consult a qualified professional.