Using Credit Cards to Save Money on Business Expenses
Cash Back Rewards
- Earn Cash Back: Credit cards like the Capital One Spark Card offer 2% unlimited cash back, while the American Express Plum Card offers 1.5% unlimited cash back.
- Offset Fees: Using a credit card with cash back can partially offset the 2.95% process fee, reducing the effective cost.
- Tax-Deductible Fees: The 2.95% process fee can be filed as a tax-deductible business expense, offering some financial relief.
- Additional Tax Breaks: Depending on the jurisdiction and tax codes, you may be eligible for additional tax breaks for using credit cards for business expenses.
Cash Flow Management
- Cash Float Period: Credit cards often provide a 30 to 45-day payment window, allowing businesses to manage their cash flow better.
- Utilize Funds: During this period, the funds can be invested in short-term opportunities or other revenue-generating activities.
Detailed Example: Capital One Spark Card
- Process Fee: 2.95%
- Cash Back: 2%
- Tax Break: 0.06%
- Final Fee: 0.35%
- Additional Benefit: 30-45 days of cash flow management and float revenue.
Floating Revenue from Bank
- Float Revenue - Cash incentive Earnings: The funds in your bank account for 30 to 45 days could earn Cash incentive or be invested in short-term revenue-generating activities.
- Capital Utilization: The cash float period allows you to strategically utilize your capital for other pressing needs or investment opportunities.
By combining these strategies, the actual cost of using a credit card to handle business expenses can be significantly reduced, while also providing the flexibility to manage cash flow more effectively.
Seamless Credit Card Payments
One of the key benefits of using Zil Money for online shopping is the seamless credit card payment feature. Regardless of whether the online store you’re shopping from typically accepts credit cards, Zil Money enables you to pay using your credit card. This unique capability is achieved through Zil Money’s innovative payment system, which processes the credit card transaction and allows you to choose between ACH, wire transfer, or check and decide how the payee receives the payment.
Features at Your Fingertips
From accounts payable and receivable functionalities to comprehensive online banking and beneficial integrations, Zil Money can meet the payment management requirements of all types of businesses.
With Zil Money, you never have to worry about credit card payments not being accepted. The platform’s system is designed to take any potential stress out of online shopping. It ensures the smooth processing of transactions, facilitating acceptance even by merchants who may not usually take credit cards. This capability eradicates the need for you to find alternative payment methods, providing a worry-free shopping experience.
Enhanced Security Measures
In addition to ensuring acceptance of credit card payments, Zil Money has robust security measures in place to safeguard all transactions. Your credit card information is securely encrypted to prevent unauthorized access. This level of security allows for safe shopping and provides peace of mind knowing your financial information is well-protected.
In total transaction volume
Connected banks & financial institutions
Monthly business users
Total users, and growing
Convenience and Confidence with Zil Money
Shopping online with a credit card through Zil Money is a streamlined, secure, and highly convenient process. The platform’s ability to handle transactions seamlessly, regardless of the merchant’s preferred payment methods, means you can shop with the utmost confidence. With Zil Money, the limitations associated with online shopping and payment methods are a thing of the past.
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Secure and reliable platform. In addition to being easy to use and very intuitive.
Zil Money is a great company they help us to manage our money. I always have difficult with that, but with Zil I can have the control of my money.
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