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Credit cards can be an effective tool to help you in your vending business. Provided the business owner uses wisdom and does not overextend his credit, credit cards can be used in a variety of ways. Here are six ways credit cards can be used in your business:

1 - Credit cards can be used to track your expenses. Many people do this personally and professionally. The paper trail gives you access to visually see where your money goes.

2 - Credit cards can be used to finance short term purchases such as inventory and good to sell. Buying items on credit cards usually gives you at least 20 days of interest free use provided the balance is paid off in the prior month. Taking advantage of interest free financing can be helpful to you as a business owner.

3 - Many credit cards have rewards programs such as percentage rebates for each dollar spent. My favorite card recently has been the American Express Small Business card where I get 1-2% off on most purchases depending on what I spend it on. Gasoline rebates are especially benefical to my vending business as I travel extensively.

4 - Credit cards can be used to finance equipment purchases such as machines and other items.

5 - Credit cards can be used for start up expenses for a business.

6 - Using Credit Cards can help you establish business credit which is benefical as you think about expanding your business.

A word of warning: Do not overextend yourself using credit cards. Cash flow in a business can fluctuate quite a bit rendering the credit card user with lots of trouble. It is much better to never use a credit card in the first place than to use it without wisdom in a reckless manner. Be careful!

Be sure to check out my article, "8 Ways to Finance Your Vending Business".

Mark Evants - (C) Christmark Enterprises, LLC.





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