For those who are starting an enterprise, one of the most important questions they’ll have to answer is “Can I get a business credit card?” The answer is yes, but the process of applying for a business credit card can be daunting and confusing. Here are some tips to be aware of before obtaining an credit card.
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Brex offers a wide range of financial services, such as corporate credit cards as well as spend management and expense management software. It provides an all-in-one financial solution for startups.
The Brex Card, also known as Brex for Startups, is an account that helps startups establish credit histories. The applicants don’t have to pay interest or need to provide a personal guarantee. Instead the applicants are evaluated based on their business model and their spending habits.
Credit limits as high as 100 percent are permitted for applicants. The limit is determined by the amount customers have in their Brex Cash account. The Brex Card draws daily from the account to determine its spending limits.
With the Brex Corporate Credit Card, you can earn valuable rewards on purchases. Brex Travel offers four points when you book travel. You can also earn three points when dining out.
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Capital on Tap
Capital on Tap is a small business credit card that can also be used as a budget management tool. The card provides a range of benefits, including a standard 1.5 percent cashback on all purchases. There are no annual fees, and the card doesn’t have any other requirements other than having a high credit score.
A low-interest business credit line is a great choice for those who are just starting out. A business credit line with additional security might be an option.
A business credit card with a low-interest rate are very convenient because you don’t have to worry of managing multiple credit cards or worrying about how much money you can afford each month. This is especially relevant if you’re trying to finance large expenses.
Ink Business Preferred credit card
The Ink Business Preferred Card is one of the most sought-after business credit cards designed for entrepreneurs. It provides a wide range of benefits, including a high sign-up bonus, purchase security, and travel perks. It does have some drawbacks.
The Ink Business Preferred Card may not be the perfect choice for your business. There are no introductory APR promotions and the spending limit may not be appropriate for your business. This isn’t the most efficient points-earning strategy.
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On the other side, the Ink Business Preferred Card offers numerous other useful features, such as liability insurance and primary car rental coverage, and a shopping protection. If you’re a small business owner, you’ll definitely benefit from these perks.
Moreover, the Ink Business Preferred Card is a great opportunity to earn points. When you spend money in certain categories, you’ll earn 3 points for every dollar you spend. For example, if you add $500 worth of purchases to your card in the first three months, you’ll receive an initial bonus of 100,000 points.
Divvy is a good option for business owners in the beginning seeking a business card. The card comes with a range of advantages and features. It also allows you to monitor your business expenses.
Divvy can be integrated alongside any other accounting software to allow users to monitor their financial expenses. The program allows you to make a budget, limit spending and request money. Additionally, Divvy allows you to set a spending limit for your employees.
Divvy also has corporate cards. These cards look at your company’s financial situation and decide on how much you should spend each month. Divvy does not require personal guarantees, unlike traditional business credit cards.
However, Divvy does not disclose any interest rates on its website. It is important to find out the interest rate for the company before you apply.
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Chase Ultimate Rewards
Business credit cards can be used to obtain the most favorable interest rates for business loans and provide valuable rewards. For instance a Chase Ultimate Rewards business credit card offers bonus points that can be converted into cash. Some cards offer rewards for shopping and travel, and others can be used to build your business’s credit.
Apart from the top business credit cards from Chase, there are other credit card issuers are available to. However, you must think about the way you intend to utilize a specific credit card. It is vital to find the right corporate credit card for your requirements.
Small-sized business owners will find the Ink Business Preferred(r) Credit Card an excellent option. This card provides solid rewards on a variety of purchase categories as well as will pay for employees’ cell phone bills.