Citibank offers its Business Credit Card to small business owners. Citibank's main goals are to support the growth of small businesses throughout the United States and to assist new businesses get started and remain competitive in the marketplace. In doing so, Citibank hopes to increase sales for all types of small businesses. A Business Credit Card from Citibank helps to accomplish several key business objectives.
First, it helps a small business to maintain and establish good cash flow. A Business Credit Card helps to keep operational expenses and outstanding payments at an acceptable level. When keeping outstanding accounts at manageable levels, businesses can allocate funds for important programs and projects. A Business Credit Card helps to manage accounts receivable and also provides funding for the payment of accounts payable. Therefore, with a strong cash flow, small businesses have more financial options when they need to make a purchase.
Second, through the use of a credit card, a business owner is able to build and maintain purchasing power. Credit cards provide customers with the ability to purchase goods and services at a higher cost than that which they would pay if the purchases were made directly. Citibank recognizes the importance that higher credit limits provide customers with and has designed the business credit card features that help to ensure that a customer pays the appropriate amount for a purchase. For example, purchases made with a Citibank Credit Card will generally earn the customer an unlimited reward point system.
Third, a Citibank credit card provides the user with access to cash advances. Cash advances are typically used to make emergency purchases. If a purchase is made on a credit card that is paid for later, Citibank will make a cash deposit in the account in place of the purchase price. An additional fee may be assessed in order to cash in this money.
As a business owner, it is important that you understand how your credit card usage affects your business. As you make purchases, you should pay for them using your available cash. If you make purchases online, you may also want to consider signing up for a Google Check Out service. Google Check Out allows your customers to have the option of paying for their purchases with a credit card over the Internet, PayPal account or debit card.
A Citibank business card can be used in a variety of ways to make purchases and pay for them later. It is very important that you use your card wisely and don't let it get out of control. By reviewing your business finances and making wise purchases, you will increase your profits while building your credit card portfolio.