#358: The Pros & Cons of Having a Business Credit Card

<p><strong>OVERVIEW:</strong></p> <p>Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the <em data-stringify-type="italic">Healthcare Boss Academy podcast,</em> presents the pros and cons of having a business credit card. If you choose to have one, he provides tips on how to use the card wisely.</p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li>Jason shares an example of someone who funded their startup with a business credit. He changed his mind on the business and presumed he wouldn't be held personally responsible for the debt. He was wrong.</li> <li>Jason explains the differences between a small business credit card and a corporate credit card. A corporate credit card is more difficult to set up but it holds only the business liable for expenses versus the person. </li> <li>There are revenue requirements to set up a corporate credit card – $4million in gross revenue. Only C corps and S corps can apply – not LLCs. </li> <li>The great value business credit cards provide is their point system. Jason's Chase Preferred card offers 3 points for every $1.00 he spends. For example, if he spends 10k in a year, using the 3-point system, that's 30k points or $300 in cash value. </li> <li>Divide your credit card points by a hundred to get an estimate of its value in gift cards or if you were to cash it out.</li> <li>Set up reminders for your credit card payments to avoid paying interest. Jason advises not to trade interest for points. </li> </ul> <p><strong>TWEETABLE QUOTES:</strong></p> <p>“If you're responsible and you've proven you have a great track record of financial and fiscal responsibility, go for it [a credit card]. Get the extra rewards.” – Jason Duprat</p> <p>“Be wise, be smart and be honest with your business transactions.” – Jason Duprat</p> <p><strong>RESOURCES:</strong></p> <ul> <li>Sign up for one of our free business start-up Masterclasses by heading over to <a href="https://healthcareboss.org/?page_id=9433" rel="noopener">https://healthcareboss.org/masterclass/</a></li> <li>Have