Rates

[SageMother]

Are the interest rates for business cards better than those for individuals or personal cards?

[trickrtreat]

That's a good question. Doesn't the rate go according to your credit? I mean shouldn't you be able to get better rates if you have better credit?

[SageMother]

I would think that if the business is incorporated the rates would have to be based on the corporation and not an individual. Guess I will have to add this to the list of questions I need to ask an accountant!

[berlinlife06]

One of my freelance friends told me that it was a lot easier to have the business incorporated, She was an employee of her own corporation, and she also had a business credit card. But her business was computer programer, and she was the only employee.

[aquariancore]

In all my years of doing business I haven't seen a reasonable rate for anything through a bank.

[SageMother]

Originally Posted by berlinlife06

One of my freelance friends told me that it was a lot easier to have the business incorporated, She was an employee of her own corporation, and she also had a business credit card. But her business was computer programer, and she was the only employee.

It really isn't that difficult to incorporate, as your friend has said. All I had to do was file with the Secretary of State for the initial set up, which is pretty brief, and it's all done online

[trickrtreat]

What does incorporated mean, exactly? Is it just a ***le? How can one person be incorporated?

[berlinlife06]

I think you set up a business as incorporated, and then get some sort of "number" or "registration" and operate like that. Apparently is a lot easiar at the moment to declare taxes. But I'm no expert, this is what I think.

[SageMother]

When you incorporate a business you create an en***y that is separate from yourself. The corporation has its own debts, its own accounts and its own liabilities.

[berlinlife06]

So, as an incorporated business, if the business goes bad, you are not liable personally, even though you are the owner of the business? Am I right? or am I very wrong?