---
title: Personal or business credit cards
description: Personal or business credit cards
---

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1. [Funding info](https://knowledge.fundsmart.co.za/?hsLang=en)
2. [Funding options for startups](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en)
3. [Credit cards](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#credit-cards)

# Personal or business credit cards

If your business has a credit card, this can offer a good means of financing smaller equipment purchases.  Only use your personal credit card if business credit is unavailable and remember to record the amount spent (including the interest charged for the credit) in the business books.

The benefits of having a credit card are:

- Credit for purchases is free for up to 55 days.
- Transactions are comparable to current-account fees.
- Annual credit card fees are usually less expensive than an overdraft facility fee.
- Transfers to your credit card via internet banking are really easy.

If your business does not yet have a business credit card, you can apply to your bank for this facility.  They have access to your business banking records and will use these to decide whether or not your business can afford to repay any monies borrowed.  Your banking records and business credit rating will impact on whether you are granted a credit card and what the total amount is that can be borrowed.  Only use your personal credit card as a last option.  It is always better that the debt resides in the business rather than with you personally.  Please read  [Understanding Personal Surety](https://knowledge.fundsmart.co.za/understanding-personal-surety?hsLang=en) before taking out a personal loan for your business.

 

### Next steps:

- [Return to the list of Finance Options](https://knowledge.fundsmart.co.za/different-types-of-finance?hsLang=en)
- Read [What are Banks Looking For](https://knowledge.fundsmart.co.za/what-banks-look-for?hsLang=en)
- Read the [Summary of Government Funds](https://knowledge.fundsmart.co.za/government-funding?hsLang=en)
- Return to [Home Page](https://knowledge.africanbank.finfind.co.za/)

 

- [Understanding business funding](https://knowledge.fundsmart.co.za/understanding-business-funding?hsLang=en#main-content)

    - [Challenges to accessing finance](https://knowledge.fundsmart.co.za/understanding-business-funding?hsLang=en#challenges-to-accessing-finance)
    - [Different funding needs](https://knowledge.fundsmart.co.za/understanding-business-funding?hsLang=en#different-funding-needs)
    - [Different types of funders](https://knowledge.fundsmart.co.za/understanding-business-funding?hsLang=en#different-types-of-funders)
    - [Different types of funding products](https://knowledge.fundsmart.co.za/understanding-business-funding?hsLang=en#different-types-of-funding-products)
    - [Credit scores and reports](https://knowledge.fundsmart.co.za/understanding-business-funding?hsLang=en#credit-scores-and-reports)
    - [Learn more](https://knowledge.fundsmart.co.za/understanding-business-funding?hsLang=en#learn-more)
- [Funding options for startups](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#main-content)

    - [Angel investors](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#angel-investors)
    - [Credit cards](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#credit-cards)
    - [Crowdfunding](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#crowdfunding)
    - [Family and friends](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#family-and-friends)
    - [Government funding](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#government-funding)
    - [Home loan](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#home-loan)
    - [Incubators and enterprise development programmes](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#incubators-and-enterprise-development-programmes)
    - [Overdrafts](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#overdrafts)
    - [Social enterprise funding/impact investing](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#social-enterprise-funding-impact-investing)
    - [Venture capitalists](https://knowledge.fundsmart.co.za/funding-options-for-startups?hsLang=en#venture-capitalists)
- [Funding Glossary](https://knowledge.fundsmart.co.za/funding-glossary?hsLang=en)

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