For those that are starting a business, one of the most important questions they’ll have to answer is “Can I get a business credit card?” Although there is a yes answer it can be daunting and confusing to apply for a business credit card. Here are some tips to be aware of when applying for an credit card.
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Brex offers a variety of financial services like corporate credit cards spending management, as well as expense management software. Brex provides a complete financial solution for new businesses.
The Brex Card, also known as Brex for Startups, is an credit card that assists startups build their credit history. Applicants don’t pay interest or need to provide an individual guarantee. Instead, applicants are evaluated on the basis of their business model and spending habits.
Credit limits up to 100 percent are permissible for applicants. The limit is determined by the amount of cash in a customer’s Brex Cash account. Each day the Brex Card draws from the account to determine its spending limit.
With a Brex Corporate Credit Card, you can earn valuable rewards on purchases. For instance, you could earn four points when you travel booked through Brex Travel. You can also earn three points on dining.
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Capital on Tap
Capital on Tap is a complete small business credit card as well as a spending management solution. The card comes with a host of benefits including a standard 1.5 percent cash-back rate on all purchases. There are no annual charges, and the card doesn’t have any other requirements aside from an excellent credit score.
For a startup business benefiting from a business credit card with low interest can be extremely appealing. You may also want to think about a business credit card with additional protection.
One of the main features of a low-interest business credit card is that you don’t have to fret about juggling several cards or worrying about how much you’ll be able to pay off each month. This is especially true if you are planning to finance significant expenses.
Ink Business Preferred Credit Card
The Ink Business Preferred Card is one of the most sought-after business credit cards for new businesses. It provides a wide range of benefits, such as an impressive sign-up bonus, purchase security, and travel perks. However, it also has a few drawbacks.
The Ink Business Preferred Card may not be perfect. There aren’t any introductory APR promotions to be found and the spending cap could be too low for your business. It’s not the most efficient point-earning option.
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The Ink Business Preferred Card, however, offers many other useful features, including liability coverage as well as primary coverage for car rentals shopping protection, as well as primary coverage for car rentals. These perks are great for small business owners.
The Ink Business Preferred Card is another great method to earn points. When you spend in specific categories, you can earn three points per dollar you spend. For example, if you spend $500 on purchases with your card in the first three months, you’ll be awarded a 100,000 points welcome bonus.
The Divvy card is a great choice for business owners in the beginning looking for an enterprise card. This kind of card comes with a range of advantages and features. You can also monitor your business expenses with this card.
Divvy works with external accounting software, and allows users to view their financial expenses. The program allows you to make a budget, limit spending, and request funds. Additionally, Divvy allows you to set a maximum spending limit for your employees.
Divvy also offers a corporate credit card. The cards analyze your company’s finances and determine how much you’ll need to spend each month. Contrary to traditional business credit cards, Divvy does NOT require a personal guarantee.
However, Divvy doesn’t disclose interest rates on its website. Therefore, it is important to be aware of the company’s rates prior to applying.
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Chase Ultimate Rewards
Business credit cards can be the chance to secure most favorable interest rates on business loans, and they can also provide valuable rewards. For instance a Chase Ultimate Rewards business credit card gives you bonus points that can translate to cash back. Certain cards provide rewards for travel and shopping, and others can be used to increase your business’s credit.
There are a myriad of credit card issuers to pick from, including Chase. You must also think about how you will use the credit card. It is crucial to choose a business 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 is a good option for earning rewards for various purchase categories and even protects employees’ mobile phone expenses.