One of the many reasons for obtaining a business credit card is that you want the guaranteed line of credit on standby to help you maintain the cash flow of your business.
Bearing that in mind, it would be prudent of you to take measures that will protect your business credit cards from unscrupulous people; otherwise, that line of credit could get abused. You should ensure that your business credit card or the corresponding business credit card number does not fall into the possession of those who will use it, without caring one iota for the financial consequences to your business.
It is not that difficult to ensure that your business credit card is shielded from unauthorized charges. Some simple ways that you can go about protecting your business credit card – and by association your business – are listed below:
· Avoid using your business credit cards on any unsecured websites at all costs. Online purchases undoubtedly are convenient and save time, but your business credit card number and other information can be stolen if you insist on purchasing an item from an unsecured website. When making online purchases with your business credit cards, patronize only those websites with explicit guarantees about their security, those that are operated by reputable businesses, and those whose security claims are verifiable. Look for the little padlock on your computer monitor when you wish to make an online transaction with your business credit card and make sure that the site is https!
· Make it a habit to check your monthly business credit card statement. If you do not have accounting personnel to keep track of your business credit card spending, you should meticulously evaluate your business credit card bills every month before paying them. If you notice any discrepancies, you should immediately report the error to the business credit card company. By doing this, you alert the business credit card issuer who can then trace the transaction and help determine if an error occurred in entering the transaction or if unauthorized charges have been posted to your business credit card.
· When withdrawing money from ATMs, protect your business credit cards and PIN numbers. If your business is in urgent need of cash and you use your business credit card for cash advances, be aware of the people immediately around you. Keep an eye for people who may take mental note of your business credit card number and PIN by looking at which ATM machine buttons you press. Find a way to block anyone’s line of vision when you enter the necessary numbers for the transaction.
It is true that most business credit card companies and banks offer unauthorized charges protection, but remember that the way you use your business credit card is your primary responsibility. Your business and your personal credit ratings are important, so guard you business credit card as if it were a wallet full of cash. You may want to contact your business credit card issuer and ask about how you can protect your card and the methods of resolving issues regarding unauthorized charges on your business credit cards.
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