By KENNY JOHNSONPublished Aug. 27, 2018 12:27:33Many businesses will soon see a change to their credit cards: new rules that limit how much you can charge on your account.
Businesses that want to charge more will have to change their business plan, a standard practice for most credit cards.
That means the business owner might have to pay more interest on their cards and the fee will likely be higher than it is now.
Business owners will be able to pay up to 25 percent more on their card than they would have under the old rules.
The interest rate will be 10 to 25 cents per day.
The credit card issuer is expected to post the new rules online.
Businesss that want more information about the rules will be given an opportunity to get their own card, or have it mailed to them from the business they are applying for.
For more:Business plan examples:Business credit card questions answered.
Credit card options, loan terms, and fees: Business credit cards and fees explained.