By OneCard | October 03, 2023
Are you a small business owner or entrepreneur trying to build something from scratch? If yes, you might be in search of ways to manage your work expenses better while maintaining a healthy cash balance for yourself. Using a credit card with an advanced app is one of the best ways to do so. Read on to learn how to use a credit card, especially OneCard, to efficiently manage your work expenses.
With the wide range of options available in the market, it is essential to pick the right credit card for your business expenses. Some of the important factors to consider are the joining and annual fees, rewards experience, credit limit offered, annual interest rate, and quality of the app associated with the card.
Even if you are a small business owner, keeping your personal and business finances separate is crucial. This will help you track your expenses accurately.
One of the biggest benefits of using a credit card for business expenses is that you can spend even during a cash crunch. However, tracking expenses in real-time is essential to make sure you don’t go overboard. Also, if you are sharing your credit card with your team members, it will help you keep track of where the card is being used. In the case of OneCard, you can do it easily through the Insights tab. Here you can see a visual graph of your spending pattern. You can also analyse your spends according to categories and merchants.
With so many things on your mind as a business owner, it is possible to forget about due dates despite getting reminders. Therefore, it is wise to set up automatic repayments to avoid unnecessary penalties and interest charges.
Credit cards can provide significant benefits to small businesses in the form of reward points, cashback, and various offers. With OneCard, you can make use of the 5X rewards program, which boosts your rewards in the top 2 categories every month if you spend in at least 3 categories. Redeeming them is also super easy and can be done within the app. You can use the reward points to pay for your recent transactions or get cashback that will be adjusted against your outstanding balance.
The magical experience of OneCard comes primarily from its technologically advanced app. With the app, you can get full visibility into all aspects of your card and control them. Here’s how business owners like you are using it:
New age entrepreneurs and business owners are using many subscription based services, such as Grammarly, AWS, and Adobe, on a daily basis to automate their work. With OneCard, they manage them all in one place in the Subscriptions Hub on the app. 1% forex fees helps them save more on their international subscriptions that need to be paid in USD.
They set their monthly budgets using the Spends Planner and analyse their spending through the Insights tab. They can easily see their category-wise spends and also get merchant level analysis.
They maximise their rewards by putting all their business expenses on OneCard. So if they spend more on utilities and travel in one month or devices and food in another, they don’t miss out on 5X rewards.
They keep a tab on how their card is being used by enabling or disabling different types of transactions, like online, offline, contactless, and international. They also set the per-transaction limit to ensure there is no overspending on the card. All this can be done using the MyControls section on the app.
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OneCard is built with the intent of providing its users with more control over their credit card experience. Smart usage of the OneCard app and its various features to manage your work-related expenses can help you maintain a cash balance, enable more savings and stick to your set budgets With the tips shared above, we hope you will be able to make the most of your OneCard.
**Disclaimer: The information provided in this webpage does not, and is not intended to, constitute any kind of advice; instead, all the information available here is for general informational purposes only. FPL Technologies Private Limited and the author shall not be responsible for any direct/indirect/damages/loss incurred by the reader for making any decision based on the contents and information. Please consult your advisor before making any decision.