If you’re starting an enterprise, one of the most important questions they’ll need to answer is “Can I get a business credit card?” Although there is a yes answer but it can be challenging and overwhelming to apply for an enterprise credit card. Here are some things to be aware of before obtaining a credit card.
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Brex provides a broad range of financial services, including corporate credit cards and spend management as well as expense management software. Brex offers a comprehensive financial solution for startups.
The Brex Card, or Brex for Startups, is an credit card that assists startups establish credit histories. The applicants don’t pay interest or need to provide an individual guarantee. Rather, applicants are evaluated by the business model of the company and spending patterns.
Credit limits of up 100 percent are allowed for applicants. The limit is determined based on the amount of money that is in the customer’s Brex Cash account. Each day, the Brex Card draws from the account to determine its spending limit.
You can earn valuable rewards with the Brex Corporate credit card. Brex Travel offers four points for booking travel. You can also get three points for dining out.
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Capital on Tap
Capital on Tap is an all-in-one small business credit card and a spend management tool. The card comes with a host of benefits including a standard 1.5 percent cash-back rate on all purchases. The card doesn’t have annual fees and does not have any other qualifications other than an excellent credit score.
A business credit card with a low-interest rate is a great option for startups. A business credit card that comes with additional protection may be a viable option.
One of the key features of a low-interest business credit card is that you don’t need to fret about juggling several cards or worrying about how much you’ll have to pay off every month. This is particularly applicable if you’re planning to finance major expenditures.
Ink Business Preferred Credit Card
The Ink Business Preferred card is one of the best business credit cards available to start-up businesses. It comes with a variety of benefits, including a substantial sign up bonus and purchase protection along with travel perks. However, it has some drawbacks.
The Ink Business Preferred Card isn’t ideal, however. There aren’t any initial APR promos and the spending limit may not be appropriate for your company. It’s not the most efficient point-earning option.
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On the other hand, the Ink Business Preferred Card offers many other beneficial features, including liability coverage as well as primary coverage for car rental and a shopping insurance. These benefits are ideal for small business owners.
Furthermore that, the Ink Business Preferred Card is a great opportunity to earn points. If you make purchases in certain categories, you’ll earn 3 points per dollar you spend. In this example when you spend $500 on purchases with your card in the first three months, you will get a 100,000 point welcome bonus.
Divvy is an excellent choice for entrepreneurs who are starting their business and looking for an business card. This kind of card comes with numerous advantages and features. It also allows you to track your business expenses.
Divvy works with external accounting software and enables users to easily view the financial expenses. The software allows you to create a budget, restrict spending, and request funds. Additionally, Divvy lets you set an amount of money you can spend for your employees.
Divvy also offers a corporate card. These cards analyze your business financial situation and help you decide on how much you’ll need to spend each month. Unlike traditional business credit cards, Divvy does NOT require an individual guarantee.
However, Divvy does not disclose any interest rates on its website. Therefore, it is important to learn about the rates offered by the company before submitting an application.
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Chase Ultimate Rewards
Business credit cards can be used to secure the most competitive rates of interest for business loans and provide valuable rewards. For example the Chase Ultimate Rewards business credit card gives you bonus points that can translate to cash back. Certain cards provide rewards for shopping and traveling while others can be used to build your credit score.
There are numerous credit card issuers you could select from, including Chase. However, you should consider the ways you will utilize a specific credit card. It is important to find an enterprise credit card that is suitable for your specific needs.
The Ink Business Preferred(r) Credit Card is a viable option for a small business owner. The card gives you solid rewards on various purchase categories as well as protects employees’ mobile phone bills.