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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Can I Use My Business Credit Card for Personal Use?

Business credit cards generally charge higher interest rates than personal credit cards, but interest payments and fees can be deducted from your taxable business income. (Credit: energepic.com/Pexels.com)

Business credit cards are generally issued in your company's name and used to carry out business expenses. You repay the outstanding debt using company funds, which impacts your company's business credit score.

Business credit scores are different from personal credit scores. Furthermore, defaults on a business credit card won't make you personally liable for any defaults, but the company. Today, business credit cards are available for nearly all types of businesses, be it large corporations and limited liability partnerships (LLP) or sole traders and freelancers.

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