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Think you know everything there is to know about small business credit cards? You may want to think again. Many people fall for the myths surrounding these useful financial tools. If you want to be on top of your game you need to know what's fact and what's not. That's why I'm debunking three of the most common myths people buy into.

1. You Don't Need Good Credit

If you think you can get a credit card under a business name even if you don't have good credit personally, you're sorely mistaken. Sure, people selling "how to" reports promising dozens of credit cards in your mailbox would like you to believe otherwise, but the fact of the matter is that small business credit cards do require good credit.

Unless your business is well established with a solid profit history and a credit rating of its own, you're going to have to guarantee any line of credit you establish. If you don't have good credit, your personal guarantee won't be enough for the bank and the credit cards will not come piling in.

2. You Have To Have a Big Business To Get One

On the other side of the spectrum are the people who think you can only get a business credit card if you have a huge business that rakes in millions of dollars a year. This is also incorrect.

Your business can be the smallest mom and pop shop on the block. If you have a solid credit history a bank will be willing to open up a business credit card for you -- just don't expect a huge credit limit.

3. They Have Better Perks

While it's true that small business credit cards have perks that are more geared towards businesses and the people who own them, they aren't always better than the perks attached to personal credit cards.

If you're applying for a business credit card just because you think the perks are better, do your homework first. You might actually find a personal card with a better offer.

Remember, the credit cards designed for businesses have the same requirements that personal credit cards do. The difference is, business credit cards let you keep your personal expenses separate from the ones that belong to your business. So the next time you run into one of the myths surrounding small business credit cards, keep the above tips in mind.

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For more tips on business credit cards, saving money and avoiding getting taken, check out CreditCardWhizKid.com, a website that specializes in providing credit card tips, advice and resources.

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