Business Credit Cards: What You Need to Know
A business credit card can be globalsummitoncrvs.org/ a great way to separate your business expenses from your personal expenses, build your business credit history, and earn rewards. However, not all business credit cards are created equal. It’s important to compare different cards to find one that offers the features and benefits that are most important to you.
Here are some of the things to consider when choosing a business credit card:
- Rewards: Many business credit cards offer rewards, such as cash back, travel points, or miles. Choose a card that offers rewards that you’ll actually use.
- Annual fee: Some business credit cards have an annual fee, while others do not. If you’re on a tight budget, look for a card with no annual fee.
- Interest rate: The interest rate on a business credit card is typically higher than the interest rate on a personal credit card. Make sure you can afford to pay off your balance in full each month to avoid paying interest charges.
- Credit requirements: The credit requirements for a business credit card vary from card to card. Some cards are available to businesses with good credit, while others are available to businesses with bad credit.
- Other features: Some business credit cards offer other features, such as purchase protection, extended warranty, or travel insurance. Consider which features are important to you and choose a card that offers them.
Once you’ve considered these factors, you can start comparing different business credit cards. There are many resources available to help you compare cards, such as NerdWallet, Bankrate, and Credit Karma.
Here are some of the best business credit cards on the market:
- Chase Ink Business Unlimited® Credit Card: This card offers 2x points on all purchases, no annual fee, and a welcome bonus of $750 after spending $7,500 in the first 3 months.
- American Express Blue Business® Plus Credit Card: This card offers 2x points on all purchases in the first year, no annual fee, and a welcome bonus of 20,000 points after spending $3,000 in the first 3 months.
- Capital One Spark Cash Plus Credit Card: This card offers 2x points on all purchases, no annual fee, and a welcome bonus of $500 after spending $3,000 in the first 3 months.
- Brex 30 Card: This card offers 5x points on travel and restaurants, no annual fee, and a welcome bonus of 50,000 points after spending $9,000 in the first 30 days.
- Amex® Business Gold Card: This card offers 4x points on travel and restaurants, a $295 annual fee, and a welcome bonus of 75,000 points after spending $4,000 in the first 3 months.
No matter what your business needs are, there’s a business credit card out there that can help you save money and grow your business. Do your research and choose the card that’s right for you.
Here are some additional tips for using a business credit card wisely:
- Use the card for all of your business expenses. This will help you keep your business and personal expenses separate.
- Pay off your balance in full each month to avoid paying interest charges.
- Take advantage of the rewards offered by the card. This can help you save money on travel, gas, or other expenses.
- Keep track of your spending and make sure you’re not overspending.
By using a business credit card wisely, you can help your business save money and grow.
