For this article, we spoke with Mike, owner of creditcardvergelijken.nl and expert in the field of, among other things, business credit cards. He told us why a business credit card is a must-have for every type of entrepreneur, especially if they regularly do business abroad.
Why a business credit card?
Large entrepreneurs, small entrepreneurs, everyone can benefit from a business credit card. Why, the experts from creditcardvergelijken.nl can tell you all about it. According to Mike, the owner of the comparison website, the biggest advantage of both business and personal credit cards is that they are accepted almost everywhere in the world as a means of payment.
Mike: 'How nice is it that you don't have to think about which payment card or currency to use and you just have one card for all your payments?'
But that's not all; what about all those extra benefits that come with a credit card, such as insurance, savings programs, discounts, and cash back offers? And from an administrative perspective, a business credit card is also a good choice. It keeps all your expenses organized and separate from personal expenses. Additionally, you only pay once a month, instead of every time you make a purchase.
Even more benefits for the frequent traveler!?
For the business travelers among us, a business credit card is essential. Mike tells us why: 'Renting a car, making a hotel reservation, or making payments outside of Europe, these are just a few things that are nearly impossible to do without a credit card nowadays. But that's not all. If your luggage, for example, doesn't arrive, your flight is significantly delayed, or you want to relax at the airport, your business credit card can also provide a solution.'
An important note: We never guarantee that you can take advantage of these extras with your business or personal credit card. All the aforementioned benefits depend on the credit card provider and type of credit card. More benefits will also come with a higher monthly or annual fee.
All benefits summarized
The experts at creditcardvergelijken.nl have summarized all the benefits of a business credit card for you:
• Your business credit card can be linked to a (existing) business checking account.
• You can keep your business expenses separate from your personal expenses.
• Less administrative hassle: One card for all your expenses, accessible 24/7 with a handy banking app. Once a month, you pay all your expenses at once.
• If you have employees with a credit card, you receive a monthly account overview per employee and can (sometimes) set a payment limit per person.
• You usually get purchase insurance for 180 to 365 days after purchase.
• Possibility of extra benefits, such as insurance, savings programs, discounts, and cash-back offers.
Are there also disadvantages?
Mike is quite clear about it: 'Like any payment method, business credit cards also have disadvantages. For example, the annual fee is generally significantly higher than that of a regular credit card or debit card, and you have fewer choices in credit card providers. Additionally, you cannot pay in installments; this must be done in one go at the end of each month.'
But let's be honest, the disadvantages pale in comparison to the many advantages. The higher price is generally more than compensated for by the extras, which can save you a lot of costs.
And what about safety?
Many people still have concerns about safety, or rather the lack thereof, when using a business and regular credit card. However, safety with larger credit card companies is now well in order, and paying with a credit card is almost as safe as with a regular debit card. A few examples:
• ICS, the financial institution that issues Visa and Mastercard credit cards in the Netherlands, works around the clock to monitor credit card payments. If a payment is suspicious, you as the cardholder will be informed immediately, and your card will be blocked if necessary.
• With many banks, such as Rabobank, you cannot make a payment without confirming it with your Raboscanner or in the Rabobank app. This is one form of 3D Secure; a password is also used by some credit card providers.
This way, paying with a credit card is becoming increasingly secure!
Which business credit card should I choose?
Now that the question is no longer whether you should purchase a business credit card, we will discuss how to choose the right card. This can be quite challenging.
Mike has a handy tip: 'Which card you should choose depends entirely on your wishes and requirements. This will be different for everyone. First, write down all these wishes and requirements and compare at least three credit cards based on that. Then you really can't make a wrong choice!'
The price for the most popular business credit card goes to…
The Visa World Card Business and the Visa World Card Business Gold are the most requested business credit cards. Not surprising, as 54% of the issued business and personal credit cards in the Netherlands are from Visa. This is partly because Visa credit cards are the most widely accepted worldwide. From starting freelancers to well-established directors to individuals, Visa is for everyone. Due to its popularity, the delivery time for a Visa card is currently 10 weeks.
Tip from Mike for the frequent traveler: 'If you travel frequently for business or vacation, the American Express Flying Blue or the KLM Corporate Card might be an even better choice. With these cards, you earn Airmiles that you can then spend on things like hotel stays and flights.'
The perfect credit card via creditcardvergelijken.nl
Mike is clear about it; business life becomes much easier with a business credit card. On our website, you can easily and quickly find the credit card that meets all your wishes and requirements.
Customer service is a top priority. Mike says: 'If you are not exactly sure what you want, there is information on our website about everything related to credit cards. And if you still can't figure it out, you can always send us a message. My team and I are happy to help you!'
