It is not easy to obtain business credit cards in the present economic situation, but if you have proved to be a reliable financial manager you will undoubtedly find the task much easier. When used responsibly, business credit cards can actually assist you in retaining a good credit history for both yourself as well as your business. This is because business credit cards will improve cash flow when money is coming in slowly. They can even out the highs and lows of business’ cash flow volatility. A business credit card can be looked on as an important way of establishing and maintaining a good credit history. As long as you can always make your payments on time every time and keep below your credit limit your credit rating will constantly improve.

Tips in Maintaining a Good Business Credit History

In order to help you maintain a good business credit file you should keep an eye on the following financial aspects of your business:

• Take financial security seriously. In this modern era of cutting edge technology being constantly used in your everyday financial dealings, it stands to reason that you must always be on the alert to avoid identity theft and fraud. Always run background checks on your employees and keep all sensitive business documents under lock and key. Keep all passwords to yourself and never get into the habit of opening emails that you are unsure of. It goes without saying that you must keep your anti-virus software up to date and never lend your credit cards to another person under any circumstances.

• Keep an eye on your credit reports. It will pay you to sign onto a credit reporting service that will alert you if your personal or business credit history receives an adverse entry. This could indicate you are the victim of a fraud, even identity theft. Such warning will give you an opportunity to contact the credit agency and you can then take the necessary steps to have your credit history cleared.

• Regularly check your personal credit standing. Keep yourself informed of what is recorded on your credit report at all times. You are entitled to a copy of your personal credit report from a credit rating agency for free once a year. Make use of this legal entitlement and if you see any irregularities have them corrected.

• Check your business credit report. This is equally as important as your own personal credit rating. You can obtain your business’ credit report from the same website where you found your personal rating. You can also check on the credit rating of those you do business with, especially if someone has asked you for more time to pay.

It is no secret that running a small business is not easy, you will sometimes experience a slow down in your cash flow and debtors might become a little tardy in paying, but you will still need to pay your wages and other outputs. This is where business credit cards can offer you an ongoing credit source. It is for this reason that you must always treat such a financial tool as a very important part of your accounting arsenal and make sure that it is never compromised.

There is always the strong possibility that at some stage your business will need extra credit to fund further growth over and above what your business credit cards can deliver. It is in these times that the care you have taken in protecting your credit rating will be very important. It could be the sole reason for having your request approved or declined.

Many Australian Small Business Proprietors Would Sacrifice Creditors to Retain Cash Flow

Financial research carried out in Australia has revealed that up to two thirds of the country’s small business operators would seriously consider holding off on paying suppliers when cash flow tightens. This is exactly the type of reaction that could prevent you from securing low cost business finance when you need it most because when you pay your bills late it is recorded on your credit history. It is for this reason that you must separate your personal from your business financial transactions. By mixing both you will be tempted to put too much strain on your business repayments requirements.

A good credit history is imperative if you want your business to succeed and with good management of your personal and business credit cards, you will ensure that you’ll get a good hearing every time you need to seek further financial assistance.

This article was written by Timothy Ng. You can read more of his work at http://www.creditcardfinder.com.au/where he has a number of comprehensive guides to all types of credit cards.

Here are some last minute tips to help you pay no more tax than you really have to.

Get Organised

People get in such a state around tax time simply because they have not been organised with their record keeping over the year. One of the easiest ways to avoid this is to keep personal affairs and business affairs totally separate.

It’s likely you will keep receipts for personal purchases as well as business ones, however to ensure there’s no confusion you must keep receipts in two different sections. Business receipts in one and personal in another.

It’s also a very good idea to have two separate bank accounts with one solely for business transactions. This makes it far easier to track money coming in and going out, which means when it comes to doing your books you will easily be able to see what transactions are business related and taxable. Make sure you keep all of your business bank statements somewhere safe too so you don’t have to get your bank to send you duplicates!

It’s All About Timing

A great way to save money on your tax bill for this year is to think about your payments and invoices in the couple of months leading up to the end of the financial year.

The best way to do this is to pay for any expenses before the July the 1st, but issue invoices for work carried out after the 1st of July. This way you will be able to deduct the expenses from this year’s tax bill, whilst being able to delay the tax you pay on any invoices issued after July 1st.

This doesn’t stop you having to pay tax on those said invoices, but what it does do is delay the payments until the next year. This can be a useful way to keep some of your profits in the business longer.

Deduct Your Bad Debts

Nobody likes having bad debts hanging over them, but a small consolation of bad debts can be tax deductible. If you are owed money on invoices but can see you have little or no hope of ever recovering that money, you need to make a note, and account for them before the last day of the financial year. This way they will come off this year’s tax bill instead of the next one. If you’re going to lose some money through unpaid invoices anyway you may as well benefit immediately.

Also don’t forget to include any depreciation in your accounts as this is also tax deductible.

Pre-Pay Next Year’s Expenses

A great way of saving money this tax year is to pay in advance for certain business expenses you’ll need for the next tax year. Maybe you need to buy a vehicle, or certain types of office and computer equipment. Do you need income protection or business insurance? If you do, then buying in advance will help you in a couple of ways.

Firstly you won’t have to worry about doing all these things as the next financial year begins, and you’ll also be able to deduct those expenses from this year’s tax bill. You save money and get peace of mind all at the same time! Good eh?

Don’t Forget Charity

Do you have a favourite charity that you regularly donate to? If so then this can also be included in your accounts. You’ll save money and get that warm glow inside from knowing you are helping others less fortunate than yourself.

Think About Getting a Pro

Although it is perfectly possible to do your accounts and tax return on your own, many people advise getting a professional accountant to do them for you. The reasoning is simple. Accountants are fully trained in what they do. They know all the loopholes, and are fully versed with what you can and can’t claim for.

A more affordable solution might be for you to hire a bookkeeper instead. Their rates are way lower than those of an accountant.

This way there should be no mistakes resulting in payment penalties, and they also know how to save you the most money.

Whenever you hire a professional you should take the time to do your research. Have a look online for accountants in your area and get as much information about them as you can. Find out how long they have been in business, check their qualifications and credentials, and look for any positive (or negative) reviews there may be about them.

The last thing you want when placing something as important as your taxes in the hands of someone else is to be screwed over, or badly let down by someone who doesn’t really know what they’re doing.

Don’t Take Chances

Although there may be some people who like to take risks when it comes to saving tax, in my opinion the risks do not justify the reward. Paying your taxes is a legal requirement and rightly so. Hiding profits, or hiking up expenses that don’t exist may save you money in the short term, but tax investigations are a reality.

Do you really want your business threatened because you wanted to save a few hundred dollars in tax?

Something else worth mentioning is that it’s never worth making a business decision based on tax savings. Don’t simply buy the most expensive piece of equipment so you can claim it back on expenses if you don’t need to.

Likewise, if you only need one car for business purposes don’t buy a second just so you can gain your tax benefits. Any decision you make in relation to business costs should be made for the advancement and growth of the business, and not for the sake of a small tax saving.

This article was written by Timothy Ng. You can read more of his work at http://www.creditcardfinder.com.au/ where he has a number of comprehensive guides including how to pay your tax bill by credit card.

You could save a lot of money on fees and charges if you do manage to find a card with a better offer. This is especially true if you are looking for a credit card for your small business. However, before you do make the switch to another credit card, there are a few things that you need to keep in mind.

First Things First – Understanding Business Credit Cards

It is important to note the difference between small business credit cards and personal ones. Business cards will typically come with a higher balance than personal cards. They are extremely useful to businesses because they can help to keep expenditure in order. Several employees can have their own business cards to pay for expenses in their department.

Perhaps the main advantage of a small business credit card is the fact that it gives you cash right away. You will not have to wait up to a week for a business cheque to clear. Instead you get your money as and when you need it. They are particularly handy for paying suppliers.

It is really important that you never use a small business credit card to start up your company. Unless you have the finances to backup the payments each and every month. This is a big mistake that many people make. It can be really expensive to start up a business if you fall behind with your payment – you could be in the midst of a growing debt before long. Cards are tempting for start-ups because loans tend to be quite difficult to get hold of these days, thanks to the recent recession. Lenders have become wary of approving loans just for the sake of doing so.

Never Use a Personal Credit Card for Your Business

Another mistake which many people make is to use their personal card for their business. There are a number of problems wrong with this. Firstly it will be much more difficult to find out how much you have spent on the business, and which purchases were personal. You need to be able to work out your expenses each year for tax purposes.

Secondly your personal credit rating may affect your business. It will also work the other way around. If your business gets into trouble and you use your personal card to fund various things in your business then it can have a negative impact on your credit report.

Small business credit cards will help to keep your business completely separate from your personal credit rating. But even so, these are only ever useful if you can pay off your debt every month and avoid costly interest rates. It could be really damaging to your business reputation if your personal financial troubles are highlighted.

As tempting as it is you should never use your personal credit card to fund the start-up costs of a business. It is too expensive and if you miss a repayment it can cause major financial problems. You will find that a lot of banks actually require you to be in business for more than a year before they give you credit.

Looking For a Specialised Small Business Credit Card

When you are looking into new credit cards you should always try to find a specialist one for your business. You will find that small business credit cards have unique features that personal cards won’t give you. For example, your purchases will be itemised each month with a lot of detail.

At the end of the financial year you will also be provided with a detailed statement that can be shown to your accountant. This definitely saves a lot of hassle as you won’t need to save all of your receipts (though it may be a good idea to do so anyway).

Before searching for a small business card you should have a clear idea of what you need. Each card will be slightly different from the other. Therefore you should think about how often you will likely use the card and the features that you expect to be able to use. Will you need to make any purchases overseas?

What exactly will you be using the card for? You may not want to use the credit card every day for example. By thinking about what you actually need from your card, you will be able to find the one that best suits your business needs.

You will find that most small business credit cards will offer you optional extras. Purchase insurance and reward programs are just two of the benefits that you could take advantage of. With reward programs you will usually find that the credit card has an annual fee.

However it can be worthwhile if you do plan on using the credit card quite a lot. Your reward points will soon build up and you will be able to treat you and your employees.

Things That You Will Need to Be Aware Of

When you are searching for the perfect small business credit card, you need to look at the different fees and charges that will be applied. Does the card have an annual fee? Does it have any per card costs? If you will need more than one credit card then you may need to pay a multiple card fee. Not all business credit cards will charge you for this option so it would be a good idea to compare the different cards on offer to find one which doesn’t.

You should also double check that the creditor offers BAS compliant statements. These will need to be kept for tax purposes. Other things to be aware of include interest rates, interest free periods and whether the card is widely accepted.

Applying for a small business credit card is not difficult these days. They can have many advantages and they can help your business out in times of need. However, it is important to take the above factors into account before you make the switch.
Do you need to transfer an existing balance onto the new card? If so you should also look out for a new
credit card that gives you a set interest free period on balance transfers.

This article was written by Timothy Ng. You can read more of his work at http://www.creditcardfinder.com.au/ where he has a number of comprehensive guides to all types of business credit cards.

Instead of just being used to spend, there are some credit cards that can actually help to maximise profits and lower operating costs. For these benefits, there is the cash back credit card.

What Is A Cash Back Credit Card?

A cash back credit card can be a great money saving tool for a business owner. Most people will be familiar with reward programs that are offered by a lot of credit cards. Some business credit cards also offer rewards, however, many businesses do not have a use for frequent flyer miles or petrol discounts. So, credit card issuers have resorted to offering cash back to their customers as their credit card rewards program.

How Do Cash Back Credit Cards For Businesses Work?

There are actually a lot of different types of cash back business credit cards. The main difference between them is how the rewards are given out.

Some credit cards only offer their business customers cash back when they use the card to make certain purchases, an example is for stationary and other office supplies. It is important to check whether or not the rewards on your credit card are limited and if they are, what the limitation will be.

The best type of business credit card is one that allows a business to use the card for all of their purchases, even the small ones, in order to earn rewards. The cash back reward can then be applied to your outstanding balance or can be issued to you in the form of cash or gifts.

When you are looking for a cash back credit card for your business, you should make sure that the method of earning and redeeming the rewards is right for you.

Are There Any Disadvantages?

In order to be approved for a cash back business credit card, your business will have to have established some sort of credit. If your business is a start up business, then it is very unlikely that you will qualify for one of these cards.

For a lot of new business owners, in order to have a business credit card, they have to use their own credit as a guarantee. While this is not ideal, it is a good way to obtain financing prior to having a business credit file established.

How Do I Get The Most Out Of My Rewards?

When it comes to getting your rewards, the scheme is very much similar to that of a regular personal credit card. The most important thing you can do in order to maximise your rewards is to make sure that your balance is paid on time. This not only helps to keep your credit in good standing, it will save money in the long run as you will not have any interest to pay. If you are caught with interest to pay, it is good to look for a credit card that has a lower interest rate. But in order to keep your rewards, you will have to clear any existing debt. So it is in your business’ best interests to have the credit card bill paid off in full and on time.

If you have existing regular payments that are set up, have them transferred to your cash back credit card so that you can earn more rewards. Regular payments can be a hassle, so in order to minimise the risk of forgetting to make a payment, you can just have it paid directly from your credit card account. You can do this for electricity, telephone bills and any monthly subscriptions.

Sometimes, there are companies that will offer you even more cash back rewards if they are teamed up with your credit card’s issuing bank. If you are thinking of making a purchase, look online to see if there are any companies that will give you bonus cash back. It is not unheard of for some merchant partners to offer as much as 40% cash back, which can be a large amount of money! Any bonus rewards you receive will be on top of the regular rewards that you are earning for just using your card.

It may be beneficial for your business to have two credit cards. This is a good strategy to help minimise costs and to maximise rewards. One of your credit cards could be a low interest card while the other one is your cash back rewards card. What you can do is to use the cash back reward credit card for small purchases that can be paid off and settled quickly. If there are purchases that you would like to pay off over a longer period of time, then you can charge them to your lower interest card. This is a great way to lower the amount of interest you are paying and also to maximise the rewards that you are earning.

How Do I Find The Best Business Cash Back Credit Card?

Unfortunately, like with a personal credit card, there is no magical formula as to how you can find the perfect business cash back credit card for your needs. While it might be a good idea just to look at how much is being rewarded, you do have to take other things into consideration. You have to look at the rates and fees of the credit card to make sure that they fit with the budget of your business.

Also, like other reward cards, it is important not to go on a crazy spending spree in an attempt to rack up a huge amount of reward points. Actually, these cards are best suited for people that will charge a lot of money onto their card. However, it is very important that you can pay back your balance. Otherwise you may risk not being able to earn any more points until your balance is paid off or you may risk losing your points.

It is very important to look over all of your options when it comes to finding the best cash back credit card for your business’ needs.

Timothy Ng is a personal finance writer, and has a real passion for encouraging people to compare credit cards to ensure they get the best deal. Check out his comprehensive guide to cashback credit cards where he provides an in-depth overview and analysis, to help you find a better deal.

However, if you have a business, it is a good idea to have a separate credit card for your business expenses. The main benefit for having a business credit card is that they are issued under the business and not to an individual. As a result, any debts that occur on the card account become the companies responsibility, rather than yours.

Why Do I Need A Business Credit Card?

The first reason is for credit. When your business has a credit card, it will help to build up a good credit history. You will have to make sure that the balances are paid on time and in full. After you have done this for several months, your business will have a good credit rating. This is beneficial because if your business is going to grow and expand, there will come a time when you will need additional financing. If your business has good credit, it will be able to receive the financing that it needs in order to continue to prosper.

In addition to this, there may be spending controls in place. This can be very handy if you are getting business credit cards for your employees, as you will be able to restrict the withdrawal limit from an ATM machine, just to minimise the risk of your employees using the cash from the credit card account for non-business reasons.

The reporting aspect is also a lot better. If you have a business credit card, the transactions on the statement will be itemised, which will allow your financing department to track your business’ expenditure. If you use your personal card for both personal and business charges, you will have a difficult time sorting through the expenses deciding which expense is business and which is personal. This reporting feature might come as a free feature along with insurance and other banking discounts.

How Do You Find The Card With The Lowest Rates?

The first thing you have to do is to decide on which credit card issuer you want to go with. Contact your existing bank to see what they have to offer. But also look around at other banks, they might have better deals and discounts that could benefit your business. Make sure that you research thoroughly so that you can actually find the best deal.

When it comes to looking at the fees and rates, it is important to find the lowest interest rate that is available. There might be offers and discounts, but make sure that you look at what the standard rate is, after the discounted period has ended. This process is much like finding a credit card for yourself.

You will probably come across cards that offer 0% rates and no fees, but these will only be for a limited time. Always make sure that you read the fine print so that you will know how much the card will actually cost you. It is important that you know what your business’ budget is when it comes to having a credit card. This way you will be able to determine whether or not the fees are reasonable and whether or not the card will be best for your company’s needs.

You will have to take a lot of time to research all of your options before you will be able to make a decision as to which credit card is the best.

Look For The Extras

This might not be as important, but it is still worth looking at. Some business credit cards will offer you additional complimentary cards on your account. This can be very beneficial and can be a great way to save money on extra fees.

Also look for complimentary insurance. If your employees need to travel (whether it is domestic or international travel), they can be covered by the policies that are offered with certain credit cards.

Credit card issuers are offering their customers interest free days. If you have a lot of options, choose the one that offers the most interest free days. This will give you more flexibility when it comes to making your repayments.
Some Important Points To Remember

Once you have a business credit card, it is important to keep your personal and business expenditure separate. This will make it a lot easier for you and for your business when it comes to settling your expenses and budgeting. It is also a good idea to make sure that your credit card receipts and statements are kept separately from your personal paperwork.

Once you have a good filing system in place, it can be very easy for you to maintain. However, if everything is mixed, you will have a very difficult time when it comes to filing your taxes or calculating your expenses as there will be piles and piles of receipts to go through.

In order to keep your costs as low as possible, make sure that any balances that you have are paid off before the end of the interest free period. Interest can slowly creep up and can become uncontrollable. It is important to make sure that your business does not find itself in debt.

Make sure you monitor your credit cards. Always read over the statements and check them against your receipts. This is an even more important habit if you are giving credit cards to your employees. You want to make sure that they are spending the money correctly and are within the company’s budget. This can also help you to identify any credit card fraud that may have occurred with your credit card.

With responsible use, a business credit card can help you to make your business grow. Always remember that a business credit card is just like a regular credit card. You have to pay your bill on time and practice responsible spending habits.

Timothy Ng lives, breathes, and sleeps personal finance! Check out his in-depth guide to business credit cards where he answers everything you need to before applying for a low rate business credit card.

This kind of credit facility could help your business finance any significant endeavor like procurement, takeover, merger, acquisition, or buyouts. It could also take care of any initiative for further improvement and expansion, which could be both crucial to overall viability of the enterprise. Asset-based financing could even fund reorganisation and restructuring.

Process of generating receivables funding
Asset-based financing is a specialised loan facility offered to businesses that are willing to hold assets, particularly accounts receivables and invoices, as collaterals. Your business could enjoy higher financial leverage and significantly marginal cash flows if you get into such credit. Here is procedural guide on how you could generate working capital through asset-based lending.

First, find an asset-based lender that could comfortably finance your requirements. You could initiate the search through exploring local listings, soliciting referrals from peers, or browsing through your favorite search engine. Get quotes and copies of terms from at least three lenders. Doing so could facilitate a practical comparison shop, so you could easily compare fees, interest rates, terms, and other loan conditions.
Second, gather more information about the lenders’ market reputation through getting feedback from recent customers. You could also look at each financer’s company policy and time lines. Make sure you choose the one offering a harmonious balance between service provision and costs.

Factoring financing
You may consider dealing with a factoring financing firm. Such a business is still an asset-based lender. The factoring company is specifically specialising on providing credit line using accounts receivables as a security. Review the contract and personally speak to the lender’s representative. Take a closer look at the fine print as it may contain significant details about fees and rates. Understand the terms and conditions before setting a date to finalise the deal.

The next step would be preparing all the required documents. Submit the requirements asked by your chosen asset-based or factoring lender. The process usually lasts up to several days and could be as fast as just a few hours after you have completed the application.

Upon approval of the asset-based lending facility, you must agree to a system or procedure on how you would transfer your receivables and invoices. Always make sure the paper works are accurately completed. Through these simple steps, your business could be capable of leveraging asset-backed factoring and borrowing within its structure. Your business could now start paying expenses and funding essential growth initiatives quickly and more accurately. Use your generated working capital according to your business’ requirements.

Andrew is a business finance specialist. He has been working several years has a business loan specialist. When he is not working, Andrew loves sharing his knowledge online

Unfortunately, there is not much that can be done to stop these occurrences. But, as they say, the best offence is a good defence. As such, businesses can have preparations in place that can help to minimise the effects of any extreme weather occurrences By minimising the effects of these events, that have the potential to negatively impact businesses, the recovery after these events can be far more successful.

Having preparations in place is very important, regardless of the size of the business in question. Businesses of all sizes have the potential to lose a lot of money because of extreme weather. Let’s review some of the basic principles that can make your business more resilient against extreme weather events.

Who Is Responsible For Your Business?

In the unfortunate case that there are any events that lead to your business not being able to function on a normal level, it is important to have a company officer or a company director nominated to be responsible for management and planning. The nominated individual must have an in-depth knowledge of the business functions, supplies, assets and resources of the business.

For more complex business operations, a committee that is comprised of representatives from each functioning area of the business would be beneficial. This allows the committee to have a comprehensive view of the requirements and vulnerabilities of the business, in addition to being able to form a more robust continuity plan.

You can also choose to enlist the help of a risk management specialist. There are many services like this in Australia, and they will help you to develop continuity plans for your company or to coach your business managers so that they can formulate their own continuity plan. There are some insurance providers that specialise in commercial insurance who will be able to offer advice on planning and management strategies.

How Does The Business Operate?

In order to properly prepare for any uncontrollable events, you have to make sure that you know exactly what your business needs in order to be able to operate. There are a few things that you can do in order to have an accurate insight into this:

● Create and maintain an inventory that lists the current assets and resources for your business (it is always good to have a list like this for reference as it can be useful for making new purchases or making any changes to your business)
● Make sure that you have identified the critical business functions that have to be maintained so that your business is able to continue operating:
○ Note down what the financial impact would be if these functions were lost.
○ Note down what the operational impact would be for losing these functions.
○ Are there any compliance or regulatory obligations that rely upon these functions?
● Make a list of the resources that are relied upon in order for the business functions to operate.

It will also be beneficial to consider whether or not there are any supplies or assets that are out of your control that are critical to the functions of your business. You must think about how the impact of extreme weather would affect these resources and, in turn, how that would impact your business. For example, how would your business operations be affected by the failure of electricity or water in your area? How would road closures affect deliveries or the ability for customers to visit your location?

Once you have answered these questions, you have to determine whether or not you are able to maintain your business if events like these were to occur. More importantly, does the insurance policy for your business cover risks such as these?

How Is Your Insurance?

While we are on the subject of insurance, it is important for you to review your policy from time to time. You have to make sure that your policy covers the most important and most valuable parts of your business.

You must decide what type of insurance you need in order to protect your business from the risks that you have identified. The insurance market is very competitive, so it is wise to look around to see what options you have available to you. Do not just look at price. It is important that you find insurance coverage that will be the best fit for your circumstances.

There are a lot of things that need to be covered in the event that extreme weather renders your business inoperable:

● What are the repair costs or the replacement costs for the assets that may get damaged? (Some policies will need equipment to be identified before the policy is taken)
● Are there any limits on the types of business, plants or equipment that can receive coverage?
● What costs will you incur for having to find temporary or replacement employees?
● What are the costs that are involved if a supplier is also effected by extreme weather and are unable to supply your business? (For example: fuel, electricity, etc.)

Is Your Current Protection Enough?

It is a good idea to identify the things that are already in place that will help prevent any damage from extreme weather. For example: flood levies, hail resistant roofing, alternative staff, etc. It is good to review this from time to time, to see if anything can be improved upon.

Buildings that are older might not have built or maintained so that they are in accordance with the modern standards and might even be at a greater risk to extreme weather hazards. If your building is older, you should determine whether or not they are made from hazard resistant material or if there are flood barriers or hail resistant roofs or windows.

It is very important to make sure that the building your business is based in is protected so that unnecessary damage will not occur when there are instances of extreme weather events.

This article was written by personal finance writer Timothy Ng. He writes in depth money
management articles for Australia’s top credit card comparison site Credit Card Finder.

1. Know the value of every point within the program: If your business requires extensive travel to major cities, and your company requires you to stay at certain hotel chains, know which card would accumulate the most points. Narrow your airline, rental car, and hotel choices to maximise the points with specific programs. Car travel is just as valuable with a card that accumulates points for gasoline purchases. Supply purchases are another way to increase the reward points, but may require a different type of credit card. Switching to a different card to gather more points will be easier than changing your travel and spending habits.

2. Evaluate your current spending habits: Maybe you spend very little money each month personally, but other people within your business make purchases. Business credit card accounts are available where all the points accumulate in aggregate. Instead of having others spend on their personal accounts and submit expense reports for reimbursement, consider multiple cards on the business name. Recognise when the use of a credit card is better for you and your suppliers than buying on terms. Personal accounts can also accumulate on the same bank and be merged with business accounts.

3. Find the credit card that gathers points from your favourite merchants: Business agreements are valuable commodities, and special rates for frequent business travellers are set to earn loyalty. Hotels, car rental companies, restaurants, and every other service business wants repeat customers. Business reward points are not created equal. Some banks offer more points for staying at a certain hotel than another bank. Understand that one point varies in value when added to the account and when that same point is redeemed. Look for the credit card point program that already offers points from your favourite places. Know what other companies might also add points to your balance and visit a new place each month. You will have new experiences and increase your point balance.

4. Actively manage your reward points accounts: Never let points expire and disappear. Those points cost money to accumulate and have value up to a certain date. Track the expiration dates and cash in on the rewards about 60 days before the date. Keep those points “free” by paying off the entire balance every month. The quickest way to devalue your points is to pay a bill late or pay interest on the account balance. Most banks will freeze your reward points if the payment is not received prior to the due date. Use fewer credit cards so the balance on each account rises more quickly and rewards are available sooner. Five cards used to accumulate 100 points each do not have the same redemption value as one card with 500 points.

5. Redeem points for the best value and know the reward and redemption thresholds: As you spend more on the same credit card, the number of points rewarded increases in some programs. Redemption thresholds change the value of the points accumulated as well. Study the rewards offered and exercise patience to redeem the best reward for the number of points surrendered. Avoid cashing points in for merchandise because the points required are rarely optimised in comparison to paying cash for the same item. When redeeming miles for flights, look closely at international deals because some flights cost thousands of dollars, but can be redeemed for reasonable point balances. Some banks will allow the combining of multiple accounts for larger balances and rewards.

The key to boosting your business reward points is knowledge of the program and willingness to adapt some of your spending habits. Maybe your forte is not managing and working a strategy, but someone within your staff probably loves those details. Spend wisely and watch your reward balances steadily rise, and then redeem points for cash or services. With some focus, your business reward points will accumulate quickly and bring enjoyment when they are redeemed.

David Boyd is founder at one of the leading websites to compare credit cards. For more of his writing, have a look at his thorough reviews of business credit cards with rewards where he helps Aussie businesses find the right card for their needs.

Frequent Flyer programs are generally only found on the higher end card such as platinum and gold cards, and an annual income of around $50,000 or more is needed, as well as a good credit rating.

Qantas have developed a Frequent Flyer rewards program which is one of the most beneficial, is also not only restricted to flights.

What Exactly are Frequent Flyer Points?

Although all airlines tend to have these programs nowadays, Qantas was probably the first and remains among the most successful reward programs available in Australia. As well as international and domestic flights, you are able to redeem points for a variety of different products including gift vouchers and electric goods.

The majority of the higher end credit cards such as the Platinum and Gold offer a range of different travel facilities such as insurance, cancellation refunds and warranties for personal possessions.

How do Credit Cards and Air Miles Work?

Credit cards that offer air mile rewards are one of the most successful types of card and have been for many years. As people find themselves travelling more and more nowadays it is always attractive for people to gain discounts on flights.

Air mile schemes first came into being as loyalty programs which were organised by the individual airlines. These generally involved people gaining discounts on future flights through accumulating points with each flight they took.

Credit card companies then saw that they could use this kind of scheme to attract more custom, and so they began the same kind of program themselves. They also evolved the schemes to include holiday packages, car rental, hotels and other facilities that may be used during travel.

How to Earn Air Miles

Spending – You can gain more air miles by simply using your credit card to buy anything. You don’t need to be spending money on flights specifically, but can gain miles every time you use your card to pay for anything.

The amount of air miles you earn per dollar spent will vary depending on the card and you do not need to be a member of the actual airlines loyalty program in order to redeem the frequent flyer miles.

When you come to redeem points, different programs will have a different redeemable value on their frequent flyer points and it is important to make sure you know what the value is before choosing a specific card. You may also find discounts and offers cropping up now and again which allow you to use them in a more efficient way, it is important to keep an eye out for these.

Affiliates and Partners – By flying on any of the affiliated airlines or spending money with any partner companies you will have more air miles added to the scheme. Bonus points are awarded for using these companies, and associated airlines offer bonus points and discounts as incentives for using their services.

Spending Air Miles

Points can be redeemed for air travel mainly but can often be exchanged for travel luxuries and services such as hotels, car rental, insurance and packages. In some cases air miles can also be redeemed on other non-travel related purchases, but these will be unique to the individual companies and can be found out in the details.

Comparing Air Mile Credit Cards

If you think that an air miles credit card would suit your lifestyle then you need to figure out what the exact benefits would be for you, and how you would best use it. Here are some facts that will help you when making the decision about which card is best for you.

Suitable for:

Frequent Flyers – Hence the name, these cards are best suited to people who travel often and travel by plane on a regular basis. By having a card that is partnered with many affiliate airlines you will find that you can use it wherever you fly, and the points are accumulated faster.

Credit Card Users – If you find yourself using your credit card for a lot of your purchasing then this is a great asset

Unsuitable for:

Shopaholics – These cards are not a good idea for people who have trouble limiting themselves with credit card spending

People with low Credit Scores – A low rating will reduce your chances of being accepted on application

What Are the Benefits of Frequent Flyer Cards?

When comparing different frequent flyer credit cards it is important to know what are likely to gain from them before making the choice on the one that has the best offer.

Air Miles – This is the most obvious benefit of the card. As you use it, you accumulate miles which can then be redeemed for flights.

Bonus Miles – Many cards have an initial newcomer’s offer which allows them to boost their points with initial offers and special deals. These are joining incentives which allow you to get started immediately.

Loyalty Program Membership – Generally, by applying for the credit card, you are automatically given membership to the frequent flyer program for the associated airline.

What To Look Out For

Associated Fees – It is important to make sure that you are aware of any annual fees that are included in the loyalty membership program of an airline. If these are not included in the package then they can often be expensive, and be the deciding factor in whether the scheme actually saves you money or costs you.

Credit Card Fees – Remember that this is a credit card, and if you are unable to pay the balance off or pay the required amount each month then debt can accumulate and this can become very expensive once charges and fees are applied.

If used wisely, the frequent flyer loyalty programs with credit cards can be extremely beneficial and rewarding, just be sure you are aware of all the information, and be sure compare the choices so that you are sure to be getting the best deal possible.

Timothy Ng is an experienced personal finance writer, specialising in credit card comparison. Check out his guide to frequent flyer credit cards where he will step you through the process of accelerating your Qantas Frequent Flyer points earning.

So if you’ve been wondering how to get more frequent flyer points for your business, here are some helpful tips to help you maximise your points quickly:

Credit Card Status

Yes, status really does matter when it comes to earning frequent flyer points on your credit card usage. A standard, or classic, credit card might allow you to earn some points.

However, a Gold or Platinum card could offer you more points for your buck. Many banks also offer customers the advantage of being able to link an American Express card to their existing Gold or Platinum card. Even though both cards are linked to the same credit limit and show up on the same statement each month, they earn points at a different rate.

For example, if you use your American Express card to pay for purchases, you could be receiving more points per dollar spent than you would if you’d used your regular Gold credit card. This can really increase the rate at which your points accumulate.

If you know you’re the type of credit card customer who is likely to use a credit card regularly, and you also repay your balance regularly, you could really benefit from upgrading to a different card status.

Earn Points While Travelling

Each time you travel with Qantas or any of their airline partners, you’re earning more points. The number of points you can earn will vary depending on the class of the cabin you choose and your destination, but you’ll still be adding to your total points.

Some of Qantas’ partners include domestic and international airlines that include: Cathay Pacific, British Airways, American Airlines, Mexicana Airlines, Japan Airlines, Iberia Airlines, Finnair, LAN Airlines, Malev Hungarian Airlines and Royal Jordanian Airlines, to name a few.

Hotels and Accommodation

Qantas have partnered with various hotels, both domestically and internationally, to allow you to earn more frequent flyer points. If you stay in Qantas partner hotels within Australia, you’ll earn 3 points for every $1 you spend. However, if you stay at a partner hotel overseas, you could earn up to 1000 frequent flyer points for your stay.

Car Rental

If you’re travelling frequently for business, you would already be aware of the need for car rental while you’re away on business. However, if you remember to hire your car through Thrifty, Hertz, Budget or Avis, you could be earning points.

Qantas will reward you with 3 points for dollar spent at these car rental companies within Australia, but you could earn up to 700 points if you use the same car rental services overseas.

Dining Out

Qantas now offers customers the opportunity to earn frequent flyer points when dining out at any of their partner restaurants. With more than 200 restaurant partners to choose from, you could be earning 3 points for every dollar you spend on food or drink.

Spend with Optus

If your current phone, mobile or internet service is with Optus, you could earn extra frequent flyer points just for spending money with them. Select a 24 month plan that is right for your particular needs and each month when you pay your bill, you could be earning flyer miles every time. In fact, you could be earning 3 points for every $1 you spend with Optus.

It’s important that you quote your Qantas Frequent Flyer membership number when you call an Optus representative to sign up for your plan. This will ensure those points are allocated to your account correctly.

Spend with Big W

Spending money at Big W can also help to increase the amount of frequent flyer points you accumulate. Big W is one of Australia’s largest discount department stores, and they’ll allow you to earn 1 point for every $1 you spend over $30.

Shopping at Big W can be ideal for stocking up on Christmas presents, buying electronics, clothing, beauty products, gardening and home products, games, toys and much more. Not only will you be saving on the cost of many items, but you’ll be accruing more frequent flyer points at the same time.

Everyday Rewards Card

If you’re a regular Woolworths or Safeway shopper, you could really benefit from signing up for an Everyday Rewards Card. While the card was originally designed to replace the 4 cents per litre discounted fuel voucher on the bottom of your shopping docket, it can help you to accrue more Qantas frequent flyer points as well.

Simply link your Qantas Frequent Flyer membership number to your Everyday Rewards card. Each time you shop at Woolworths, Safeway, or participating Woolworths partner stores, you could be earning more frequent flyer points.

Say it With Flowers

Qantas Frequent Flowers allow you to order fresh flowers delivered directly to your home or office. Whether you want a simple seasonal bunch of flowers or a gorgeous, elaborate arrangement, you can order it and have it delivered right away.

What’s more, you could earn 5 frequent flyer points for every dollar you spend.

Double Up Points

If you have a credit card that is linked to your Qantas Frequent Flyer membership account and you shop at a bonus partner, retail partner or other outlet offering rewards, you could effectively be doubling the points you earn.

For example, you could shop at Big W and present your Everyday Rewards Card to receive your frequent flyer points. You could then pay for your purchase using your linked credit card to receive more frequent flyer points for the same transaction.

With so many ways to earn Qantas Frequent Flyer miles, you should now see how easy it can be to accumulate enough points to really make it worthwhile.

Timothy Ng is a personal finance writer, and has a real passion for encouraging people to compare credit cards to ensure they get the best deal. Check out his comprehensive guide to frequent flyer credit cards where he provides an in-depth overview and analysis, to help you get to your desired destination sooner.