For those who are just beginning an enterprise, one of the most important questions they’ll need to answer is “Can I get a business credit card?” The answer is a resounding yes, but the process of obtaining a business credit card can be a bit overwhelming and confusing. Here are some things you should know about the process of obtaining credit card.
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Brex provides a variety of financial services, including corporate credit cards, 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 credit card that assists startups establish their credit history. It doesn’t charge interest and don’t have to provide an individual guarantee. Instead, applicants are assessed by the company’s business model and spending patterns.
The applicants can enjoy up to a 100 percent credit limit. This limit is by the amount of money in the customer’s Brex Cash account. The Brex Card draws daily from the account to determine its spending limits.
You can earn rewarding rewards with a Brex Corporate credit card. Brex Travel offers four points for booking travel. You can also earn three points for dining out.
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Capital on Tap
Capital on Tap is a complete small business credit card and a spend management tool. It comes with a myriad of benefits, including a flat 1.5% cash back rate on all purchases. The card doesn’t have annual charges and doesn’t need any other qualifications other than an excellent credit score.
For businesses that are just starting out benefiting from the low-interest business credit cards could be very appealing. A business credit card that comes with additional protection may be an option.
A low-interest business credit cards are very convenient because you don’t have the worry of managing multiple cards or worrying about how much money you’ll have to pay each month. This is particularly true if you are looking to finance large expenses.
Ink Business Preferred credit card
The Ink Business Preferred Card is one of the most well-known business credit cards that are designed for startups. It provides many advantages, such as a huge sign up bonus, purchase protection, and travel perks. However, it has some drawbacks.
The Ink Business Preferred Card isn’t ideal, however. There aren’t any promotional APR promotions to be found, and the spending cap could be too low for your company. Furthermore, it’s not the most generous point-earning system.
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On the other hand it is worth noting that the Ink Business Preferred Card offers a lot of other useful features, such as liability insurance and primary car rental coverage, and a shopping protection. These benefits are perfect for small business owners.
Moreover that, the Ink Business Preferred Card is an excellent method to earn points. Spend in specific categories and you’ll earn 3 points for every dollar. In this case, if you spend $500 on purchases on your card within the first three months, you will receive a 100,000 point welcome bonus.
Divvy is a good option for startup business owners seeking an enterprise card. This type of card offers many advantages and features. You can also track your business expenses with this card.
Divvy is compatible with external accounting software and enables users to easily view financial expenses. You can then create budgets, set limits, and request funds. Additionally, Divvy allows you to set a maximum spending limit for your employees.
Divvy also offers a corporate card. These cards analyze your business finances and allow you to decide on how much you’ll need to spend every month. Contrary to traditional business credit cards, Divvy doesn’t require an individual guarantee.
However, Divvy does not disclose any interest rates on its website. It is important to know the interest rate for the company before you apply.
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Chase Ultimate Rewards
Business credit cards can be used to get the highest interest rates for business loans and provide valuable rewards. For instance one card, the Chase Ultimate Rewards business credit card gives you bonus points that can translate to cash back. Some cards offer rewards for travel and shopping and others can be used to build your credit score.
Aside from the best business credit cards from Chase, there are other credit card issuers that you can choose from. However, you should think about how you will make use of a particular credit card. It is essential to locate the right business credit card that meets your specific needs.
Small business owners will find the Ink Business Preferred(r) Credit Card a great option. The card is a good option for earning rewards for a variety of purchase categories and even covers mobile phone bills.