Learn the Significance of Credit Cards in Wholesale Business

According to a survey, about 80% of the medium and small business owners consider using credit cards for their daily transactions and payments. The usage of credit cards has entered a new era with popularity of e-commerce and online wholesale businesses. The majority of online wholesale portal owners prefer using business credit cards over personal cards as they are widely accepted.

  • Pain free tracking: With credit cards, you do not need to manage your bank statements and receipts in a shoebox. Keeping a track of business expenses at the end of the year is such a painful and chaotic task for small business owners. Most of the business credit card companies issue an annual statement summarizing the expenditures of the whole year. These statements are well categorized and easy to understand. This way, a credit card rids you of the hassle of bookkeeping.
  • Build business credibility: Your credit card speaks about your business credibility and personal integrity particularly when you need to expand your wholesale business and apply for loans. Before you can get any loan, you are required to submit your credit card history which is thoroughly checked. You can get a loan only if the history comes out clear and positive.
  • Widely accepted! : Imagine the following situation. You want to buy fine quality products from some supplier you found at an international B2B wholesale directory and you contacted that supplier. But before you can finalize the deal, you find that the manufacturer is not registered with the same online payment system as you are. Having a business credit card can come in really handy in such situations. All you have to do is use your credit card pin number, and receive your shipment since business credit cards are widely accepted.
  • It’s always cost effective: Business credit cards not only save you money but also time and effort. You can always pay your manufacturers and other wholesalers with your business credit cards. By clearly stating that you ‘accept credit card payments’ on your B2B wholesale portal, you make your customers feel welcome. Even competitive credit card market has introduced the concept of discount programs rewards like office supplies, software etc. It’s cost effective in that sense too.

Your business credit card is like a crucial resource in your wholesale business, managing your finances, creating options and making things just possible for you. So value it!

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