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Don’t Get Caught with Unexpected Business Credit Card Fees

Posted by businessfinancing on July 5, 2008

Thanks to the folks at FireFinance, here is some information you’ll want to keep in mind if you’re the holder of a business credit card. Quite frequently credit card companies charge fees that they don’t make a big deal out of telling us when we open the account. So pay close attention to this or you might end up with some hefty charges that take you by surprise.

The worst offender is the “over the credit limit fee”, which can run as high as $40. Sadly, a credit card company will not make an effort to stop us from going over the limit. Once we reach the limit, they’ll allow more transaction on the card and they whack us with the fee. It’s no wonder FireFinance calls it sneaky.

The other thing that happens is that going online to view your recent transactions and get a tally of your activities does not always work either, because the credit card company does not update your file immediately. You may experience a delay through email alerts you set up for yourself, and even calling your business credit card company directly can result in delayed information.

The best thing to do is keep track of what you are spending with a tracking system or possibly get more than one business card for different types of expenses. The bottom line is, be take responsibility for your spending habits and don’t rely on your business credit card company to do it for you. They would rather have the additional money in fees.

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