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Small-Business Credit Cards

Even small-business owners can act like big business with corporate credit cards.

Few small-business owners would argue that pulling out a credit card is sometimes the only way to pay for a necessary operating expense. What many business owners don't know, however, is that the plastic they pull out doesn't have to be a personal credit card--and it probably shouldn't be.

"According to our research, many small-business owners aren't aware of their options when it comes to credit cards," says Mindy Chanaud, business-card product manager for First USA Paymentech Inc. in Dallas.

Rather than use one of the corporate cards available, many small-business owners pull out their own personal credit cards, but that's not necessary or even advisable, says Chanaud. There are a variety of credit cards specifically created for small-business owners that enable them to keep personal and business finances separate.

In the last couple of years, many large creditors have started offering credit cards targeted at small-business owners.

American Express recently launched their first-ever revolving corporate credit cards to meet the needs of small-business entrepreneurs seeking more extended credit, says Ernie Berger, senior vice president of small-business services marketing for American Express Inc. in New York City. For more than 10 years, the American Express pay-in-full Corporate Card has served the small-business market.

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This article was originally published in the January 1997 print edition of Entrepreneur with the headline: Small-Business Credit Cards.

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