If you're joining the ranks of the self-employed, you'll need to take certain steps to show you're serious about your business. A designated home office is a good idea. So is a professional-looking website. You may also want to invest in a comfortable pair of sweatpants, because you'll probably be working into the wee hours.

Many nascent entrepreneurs believe they also need a business credit card. But while a corporate credit card may impress the folks at the local office-supply store, it's important to understand the risks.

Business credit cards are exempt from the Credit Card Accountability, Responsibility and Disclosure (CARD) Act that was signed into law last year, says Bill Hardekopf, chief executive of LowCards.com. That means business card issuers can do a lot of things prohibited by the CARD Act. They can increase the interest rate on your existing balance, jack up your rate after just one late payment and apply payments to the balance with the lowest rate first.

Read more at USA Today: http://www.usatoday.com/money/perfi/columnist/block/2010-09-07-yourmoney07_ST_N.htm