Maria Adams, Credit Cards Moderator
Permalink Report Abuse
Yes, you can use a personal credit card for business expenses, there’s no law saying otherwise. But just because you can, it doesn’t necessarily mean that you should do it.
Why You Shouldn’t Use a Personal Card for Business Expenses
- Personal credit cards mostly have lower credit limits. This means you wouldn’t be able to make big purchases. On the other hand, business cards generally have higher limits.
- Business cards offer better signup bonuses. And their rewards are tailored to better fit a company’s needs and requirements.
- Using a personal credit card to pay for your business’s expenses can create confusion when looking at your monthly statement. For example, it might be hard to spot all the tax-deductible purchases when they are mixed with personal ones.
- When it comes to credit scores and credit history, a personal credit card won’t build your business’s credit.
That said, you can certainly use a consumer card for business expenses if you wish. But if you’d rather apply for a card that better suits your company’s spending habits, check out our editor’s latest picks for the best small business credit cards.
2023's Best Credit CardsCompare Cards
People also ask
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Did we answer your question?