Yes, you can transfer a balance from a personal card to a business card. However, it’s important to keep your personal and business expenses distinct. If you used a personal card for business expenses and can document that, it’s a good idea to keep those records organized, especially come tax time. Combining your expenses can lead to serious problems down the road.
“Separating the two helps prevent commingling funds from the get-go, not to mention makes tracing and documenting important transactions far easier come tax filing,” Pendergast said.