| Business credit cards are available from a wide | | | | business or proprietor. This means that if the |
| variety of sources - and with a wide range of | | | | cardholder defaults on the credit card, action can |
| terms and conditions. Some are secured on | | | | be taken by the credit card company wherein the |
| assets of one kind or another and some are | | | | asset or assets are seized. This means the |
| available on an unsecured basis. As with all forms | | | | business or proprietor can lose something (or |
| of finance, you need to know and understand the | | | | everything) that is valuable to him or her. |
| exact conditions under which the credit is being | | | | Therefore, it is wise to make sure you can pay |
| made available. One thing to look out for is early | | | | your credit card debts before applying for a |
| repayment penalties. Even if you do have the | | | | secured business credit card. |
| means to repay the credit early it could cost you | | | | The positive side of a business credit card is low |
| extra in terms of a fee or penalty interest. | | | | rates. The rates on these cards are low for two |
| Secured business credit cards are credit cards | | | | reasons. Number one, the card is for a business. |
| that are backed up by a piece of collateral or | | | | Number two, the credit card company profits on |
| multiple pieces of collateral, such as the business | | | | the seizing of assets of those who do not or |
| itself, or an asset or many assets owned by the | | | | cannot pay off a credit card bill. |