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Small business is becoming big business for credit-card issuers.
With the consumer market saturated, card issuers and banks are expanding their credit-card offerings for small businesses in a bid to get in on what they see as an untapped market. Estimates vary, but American Express says only about 14% of the more than $2 trillion small businesses spend annually is done with plastic. In addition, businesses generally charge much more than consumers do.
That means more choices for small-business owners who are looking for additional capital. While the conventional mind-set is that credit-card debt is bad debt, it is often much easier and faster for start-ups to open a credit-card account than to secure a line of credit from a bank. View full story...
With the consumer market saturated, card issuers and banks are expanding their credit-card offerings for small businesses in a bid to get in on what they see as an untapped market. Estimates vary, but American Express says only about 14% of the more than $2 trillion small businesses spend annually is done with plastic. In addition, businesses generally charge much more than consumers do.
That means more choices for small-business owners who are looking for additional capital. While the conventional mind-set is that credit-card debt is bad debt, it is often much easier and faster for start-ups to open a credit-card account than to secure a line of credit from a bank. View full story...
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