Credit cards are very common in the United States. Statistics show that nearly every American household has at least one credit card.
In the business world, the utilization of credit cards has tremendous value. Businesses need to use them to track expenses, utilizing general accounting practices. Credit cards provide a clear record of money spent for business purposes. These are more commonly known as business credit cards.
However, the problem with most business credit cards is that entrepreneurs tend to neglect them. They sometimes abuse the value and convenience that business credit cards provide. The main point here is that people with plastic money spend more often. This is something to be mindful of when overseeing your employees’ credit card statements.
In recent surveys, most credit card companies report subscriber growth rates of about 20% every year. We see this in the massive explosion of credit card users across the world.
A respected financial analyst noted that since the inception of credit card use in society, a higher spending pattern among cardholders has been observed. This trend has continued regardless whether it is a...
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