New online tool helps small businesses monitor credit card debt
In the past, many small business owners may have wanted a quick, easy way to monitor their credit card debt, but have been unable to.
There is now an online tool from U.S. Bank that allows them to do exactly that. Any small business with a credit card issued by the lender now has access to its new ScoreBoard feature, which allows them to view monthly snapshots of all kinds of information related to their accounts. Some of the features this new application offers are the ability to monitor spending by individual employees and track sales transactions when customers use their cards to make a payment, among others.
“ScoreBoard is unique because it gives our small business customers the ability to monitor their own spending and insight into how their sales trends compare to similar merchants in their business category,” said Pam Joseph, U.S. Bancorp Payment Services vice chair. “For our customers who have a U.S. Bank credit card and merchant account, the tool provides a comprehensive view of their business trends.”
A recent study found that when small businesses have access to credit cards, they are more able to create jobs and generate revenue.