It is not a good idea to use your personal credit card for your S Corporation business expenses. You could do it if the credit card is kept just for the business. But personally, I would not suggest it. If you go through the trouble to incorporate your business, you should respect the separate legal entity of your business enough not to use your personal credit to make business purchases.
Keep both your personal entity and your business entity separate for the law to keep both of you separate.
Limitation of Business credit cards
Credit cards companies may offer more consumer protection to consumer credit cards owners compared to business credit cards.
Some credit cards companies don’t have business credit cards options if you are not the only owner of the business or don’t have more than 50% share ownership of the business. One example is Discover.
Chase and Capital One have business credit cards. Capital one Spark Business offers cash back on purchases. While Chase Ink Business Unlimited offers mileage points. Both have $0 annual membership fee. You might be required to enter the names of business owners with 25% or more shares on the credit card online application.
These credit cards companies still check your credit score when you apply for business credit card.
Business credit cards tend to have a higher interest rate.
Disclaimer:
“I am not an attorney to practice law. I am not allowed to draft legal documents, give advice on legal matters including immigration, or charge a fee for these activities.”
Please Find About our Products and Links Below
Free Download
Would you please check the “Free Download” section on our website for budget spreadsheet, budget planner PDF, tax forms, motivational quotes, checklists, and more for you do download. You don’t need to subscribe to access them. We would like to have you in our community where we interact and encourage each other to reach our goals. We invite you to join our email list.
Our Objectives
At Nina’s Soap, we thrive to live a quality life within our budget and increase our net worth. We share many aspects of our lifestyle including personal finance, investment, business management, cooking from scratch and growing some vegetables and fruit to save money and eat healthy.
For more, would you please visit us on our:
Blog: www.ninasoap.com
You Tube Channel: Liberman Consulting L.L.C.
Join Us for Free
How to Find Previous Articles
To make it easy to navigate our website, would you please check the side bar? Under “Post Archives”, are our “categories”. The links to our prior articles are saved under their appropriate categories. Would you please click on any category under “Post Archives” to read the titles of previous articles and click on the link of your interest to open the article.
Welcome to Our Financial Success Group!
To learn more tips on how to live below your income without sacrificing the quality of your life and start building wealth, would you please join our community for FREE by subscribing here: https://ninasoap.com/membership-join/
Our Online Stores
Welcome to Nina’s Soap our Natural Products Store
Our lye soaps are handmade with quality grade natural oils and butters, food grade sodium hydroxide, and herbs grown in our garden without pesticide or chemical fertilizer—- no additives, no fragrance, no dye.
Our towels, washcloths, and napkins are natural and eco-friendly alternatives of paper towels, paper napkins, and tissue papers for you to enjoy in the comfort of your home while saving money and the environment.
Welcome to Liber Label our Apparel Store
Customs design clothing, home décor, accessories, and stationery with motivational quotes to lift your mood every day.
Leave a Comment
You must be logged in to post a comment.