Tips to Protect the Security of Your Business Credit Card

When starting a business a credit card can be vital. Having the card in the company's name helps to establish the business' credit and also works as a promotional tool at the same time. It can also become problematic to keep the funds safe, so knowing how to protect an entrepreneurial credit card number's security is very important for a business.

Start with the basics. One card no more than two users is a good rule. It is a mistake for a company small or large to have one credit card with only one number shared among many employees, workers or even the owners. If there is an issue this makes finger pointing too easy and figuring out what actually went wrong very difficult. Try to make it a rule for only two employees to use the same card at a time. Having multiple cards with different numbers might seem more of an accounting headache, but in the long run it makes it much easier to follow the trail of who purchased what and when. This makes it much easier to find internal abuses of the company's card, and it means that if necessary a single card can be canceled without the company having to ground to a halt waiting for a new card to be issued before any more purchases can be made.

Keep and periodically review those receipts. It might sound like a 'no brainer' but all receipts must be turned back into the accountant, owner or other designated company representative immediate after a purchase is made. If an order is made by telephone or internet than the receipt number must immediately be turned over to whoever is the designated company representative. The reason for this is the practice not only helps an accountant or bookkeeper spot inconsistencies, it also keeps wayward pieces of paper with important information from falling into the wrong hands. Criminals routinely go through a company's garbage looking for receipts, spreadsheets or forms to see if they can find even a partial credit number which can be pieced together later.

Shred those documents. All paperwork and information held by any employee must be shredded before putting it in the garbage. As stated above criminals are waiting for young companies to make the smallest mistake. Armed with several copies of receipts a theft has numbers, names, employee's information and identification numbers, and worst of all copies of signatures. Keeping this information out of their hands is worth the time it takes to shred all the trash.

Use encrypted and secured sites only.If any employees use the internet for ordering they should be counseled and taught to only use sites that are encrypted and secured for ordering. If one or more employees uses the internet for this purpose it might be a useful expense to have a computer security expert visit, or check for companies like Blue Coat at dc.bluecoat.com to protect your system and teach employees what to look for to safely order for the company.

Consider further protective measures. Just as you would with your own credit securing you entrepreneurial credit card number means checking with sites like Lifelock and Equifax to make sure no one is using the card number without your knowing it. (See Resources for links).

With vigilance you can protect your company's security and good name by keeping an eye the company's credit cards.