More financial flexibility, a personalised credit limit and flexible payment terms. Sound tempting?
We think so. But if you’re still on the fence, here are 4 ways a business credit card adds value to your self-employed career – helping business run smoothly and grow.
First off, what is a business credit card anyway?
There are different kinds of business credit cards on the market. Here at Holvi, we offer one that's made specifically for self-employed expenses.
Simply put, a business credit card comes with its own credit line, which allows you to borrow money up to an agreed amount (your credit limit). In the case of the Holvi Business Credit Card, this can go as high as €5,000.
In contrast to debit cards where transactions are debited immediately from your account, you can use a business credit card to borrow from this credit line anytime.
The advantage? If your balance is low or you’re waiting for money to come in, you’ll still be able to make the necessary purchases to keep things running smoothly. Not only this but...
A good business credit card comes packed with extra features – like bookkeeping, online expense management and invoicing.
Spoiler alert: Holvi has all of the above.
So… in what situations does a business credit card come in handy?
4 ways to use your Holvi Business Credit Card
💳 1. Stay solvent when your income is delayed
You've landed all the best projects and are so busy you can hardly keep up with the work – but when it comes to your clients, they're suddenly taking their time paying your bills. Or maybe you were so busy that you forgot to send those invoices in time. (By the way, it's super fast with Holvi).
With the Holvi Business Credit Card, you can bridge these payment gaps and keep cash flow under control. No matter what happens, you can fall back on your credit line.
For personal spending, too!You can always use your Holvi Business Credit Card for personal spending, without unbalancing the books. Simply categorise your payment via app as a personal expense. Your books will remain in order. |
💸 2. Invest money to earn
You've landed an exciting design job, but don't have the software licence to do it properly. Or perhaps you'd like to take part in a trade fair that you hope will bring lots of new customers, but tickets are expensive.
These are just two of many examples. It’s always the same:
You have business in sight. To make it happen, you need to invest some cash. But for that, you first need income…
The classic chicken-and-egg problem, right? This is exactly where a financial cushion is worth its weight in gold. With a credit card, you can invest in your business without getting into financial trouble.
For example, you can choose the Holvi Business Credit Card with repayment in 6 instalments. This means you can pay off an expensive software licence in 6 small, easy-to-plan instalments. All while working productively and paying off this loan many times over.
How flexible is your repayment plan?With the Holvi Business Credit Card, you always have the freedom to repay more than your agreed instalment. With faster repayments, you'll save on interest and be able to free up your credit line for future payments. |
⛽ 3. Advance travel costs and expenses
Let's say you're a photographer and you've got a major shoot coming up. Of course, your client will reimburse all the costs. But you’ve already booked a hotel and have to rent equipment out of pocket.
Even though you’ll recoup these expenses in the end, this kind of expenditure can wreak havoc with your cash flow. And larger companies in particular often take their time paying bills. Uncool, we know.
With a Holvi credit card, you can easily manage such expenses – and take time paying them back until you're reimbursed. You can even factor interest costs into your calculations when billing your client.
Save time with online expense managementDid you know? With a smart card like the Holvi Business Credit Card, you can easily manage your expenses via the app. Categorise each payment immediately and simply scan the receipt via the app. The advantage: accounting on the go instead of paperwork at the end of the month. |
⌛4. Buy time for unplanned expenses
Your home office has never been comfortable, and you've known for a while that an ergonomic desk would help. Now your back is screaming: time for a new desk, stat. But your income is in the doldrums. What can you do?
Let’s face it, sometimes even the best budgeting doesn’t help.
Some expenses are unpredictable and cannot be postponed.
This is when it helps to have a financial cushion to soften unexpected costs. With a business credit card, you can postpone payments until the end of next month. This gives you breathing room to adjust your finances – for example, by billing clients, postponing other expenses or following an instalment plan.
So is a business credit card worth it?
As you can see, a business credit card can boost your business if you use it responsibly. Credit lines can help make sure you keep working productively, without missing out on opportunities that demand expenditure. Plus, Holvi is committed to responsible lending – something you can read more about here.
Soon we’ll be issuing our first Holvi Business Credit Cards to the self-employed. If you’re not already on it, join our waitlist today.