Three Pitfalls Business Credit Card Holders Face

saving-money-on-credit-card-processorBeing a company’s business card holder can be a hassle. Dealing with co-workers, shipping problems, vendors, and contractors means dealing with all types of problems and personalities. One way to avoid some of these pitfalls is to only purchase from quality vendors. Below are a three ways to spot potential vendor problems which may arise.

1. Depending on your company’s needs, purchase products and services only from reputable companies. This may sound a bit obvious, but you may be surprised by the problems which occur when business card holders ignore this golden rule. Conduct thorough research on service contractors to the best of your ability. If you do not have a pre-existing account with a service contractor, and you are only using them as a onetime service provider, be sure to pay them upon services rendered. If they insist on being paid up-front you may want to tread lightly.

2. In regards to purchasing products from retailers, especially large purchases, conduct research on the retailers company account purchase policies and return policies. Having a complete understanding of these policies will aid in future purchases.

3. Lastly, and as already mentioned, be sure to find out a stores return policy. Not all return policies are built the same. Some stores have a seemingly open ended, no questions asked, return policy. Other stores can be sticklers for their rules. Always remember when using a credit card, if you are unhappy with a purchase and the retailer will not give you a refund, you can file a dispute under federal law. The purchase must be over $50 and you must submit evidence you tried to resolve the issue with the store or service provider. Contact your credit card company for further details.

Being a business card holder requires your supervisor to place a lot of trust onto you. Expand that trust with smart purchases that will get you noticed. Also, and if you are able to save your employer some money with your purchases due to you knowledge, you may endear yourself with your boss and finally score that corner office you’ve been wanting.

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