How Business Credit Card Interest Works
Business credit card interest is pretty simple.When you sign up for a new credit card, the issuing company will let you know what your interest rate is. It might be 19% APR. Or maybe it’s 25% APR.
Oftentimes you get the first 30 days interest-free and then you get charged the APR over time after that.
Why you should care
Paying credit card interest for your business can cut into your profits. And for those business owners who aren’t paying their credit cards off on time and incurring interest? They often don’t fully know just HOW much interest they’re paying.
Business owners should have a firm grasp on their credit cards interest rate, how much money they’re paying in interest, and how much they could save in interest if they lower their balance or pay off their business credit card on time.