If you are thinking of creating your own business, the first important question to ask is “Can I get my business credit card?” The answer is a resounding yes, but the process of getting an official business credit card can be confusing and overwhelming. Here are some things to be aware of when applying for credit card.
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Brex provides a broad range of financial services, such as corporate credit cards, spend management, and expense management software. Brex provides a complete financial solution for startups.
The Brex Card, also referred to as Brex for Startups is a credit card that assists start-ups build their credit history. It doesn’t charge interest or have to provide an individual guarantee. Instead the applicants are evaluated on their company’s budget and business model.
Credit limits of up to 100 percent are allowed for applicants. The limit is by the amount of cash in the customer’s 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 significant rewards on purchases. For example, you can get four points on travel booked through Brex Travel. Additionally, you can earn three points for dining out.
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Capital on Tap
Capital on Tap is a small business credit card that can also be used as an expense management tool. It comes with a myriad of benefits, including a fixed 1.5 percent cash-back rate on all purchases. There are no annual charges, and the card doesn’t have other requirements other than having a credit score of at least.
For a business that is just beginning one of the advantages of using the low-interest business credit cards could be very appealing. A business credit card with additional security could be an option.
One of the primary advantages of a low-interest business credit card is that you don’t have to worry about juggling multiple cards or worrying about how much you’ll have to pay off every month. This is especially true if are looking to finance large expenses.
Ink Business Preferred credit card
The Ink Business Preferred card is one of the best business credit cards designed for start-up businesses. It provides many advantages, such as a huge reward for signing up along with purchase protection, along with travel perks. However, it also has some disadvantages.
The Ink Business Preferred Card isn’t the perfect card, but it isn’t insignificant. There are no introductory APR offers and the spending limit might not be suitable for your business. It’s not the most efficient points-earning program.
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On the other hand however, the Ink Business Preferred Card offers many other beneficial features, including liability coverage and primary car rental coverage and a shopping protection. If you’re a small-sized company owner, you’ll certainly get these benefits.
Moreover that, the Ink Business Preferred Card is an excellent way to earn points. Spend in certain categories and you’ll earn 3 points for every dollar. In this instance when you spend $500 on purchases on your card within the first three months, you’ll receive a 100,000 point welcome bonus.
The Divvy is a great option for business owners in the beginning seeking an business card. This card offers a variety of advantages and features. You can also keep track of your business expenses by using this card.
Divvy works with external accounting software that allows users to quickly view the financial expenses. The software allows you to create a budget, restrict spending and request money. It also lets you set a spending limit for your employees.
Divvy also offers a corporate credit card for companies. The cards analyze your company’s finances and determine how much you can spend every month. Contrary to traditional business credit cards, Divvy does NOT require an individual guarantee.
However, Divvy doesn’t disclose interest rates on its website. Therefore, it’s important to learn about the rates offered by the company before applying.
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Chase Ultimate Rewards
Business credit cards can be used to secure the most competitive rates of interest on business loans, and also provide valuable rewards. For example the Chase Ultimate Rewards business credit card gives you bonus points that can be converted into cash back. Certain cards provide rewards for shopping and traveling as well as others that are able to help build your credit score.
There are many credit card issuers you can select from, including Chase. However, you should consider the ways you will make use of a specific credit card. It is important that you choose the appropriate business credit card to meet your needs.
Small-scale business owners will find the Ink Business Preferred(r) Credit Card an excellent choice. The card gives you solid rewards on different categories of purchases and even will pay for employees’ cell phone bills.