For those who are starting a business, one of the most important questions they’ll need to answer is “Can I get a business credit card?” Although the answer is yes but it can be daunting and confusing to apply for an enterprise credit card. Here are some tips to be aware of when applying for credit card.
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Brex offers a variety of financial services like corporate credit cards along with spend management and expense management software. Brex provides a complete financial solution for startups.
The Brex Card, also known as Brex for Startups is a credit card that helps start-ups build credit histories. It doesn’t charge interest or require an individual guarantee. Instead, applicants are evaluated on the basis of their business model and spending habits.
The applicants can enjoy up to 100 percent credit. The limit is determined based on the amount of cash in a customer’s Brex Cash account. The Brex Card draws daily from the account to determine its spending limits.
With a Brex Corporate Credit Card you can earn significant rewards on purchases. Brex Travel offers four points to book travel. Additionally, you can earn three points on dining.
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Capital on Tap
Capital on Tap is a small business credit card that can also be used as a spend management tool. The card offers a variety of advantages, including a fixed 1.5 percent cashback rate on all purchases. There are no annual fees, and the card doesn’t have any other requirements except for an excellent credit score.
A low-interest business credit line is a great option for startups. A business credit line with added security may be a possibility.
One of the main advantages of a low-interest business credit card is that you don’t have to worry about juggling multiple cards or worrying about the amount you can afford to pay every month. This is especially applicable if you’re planning to finance large expenditures.
Ink Business Preferred credit card
The Ink Business Preferred card is one of the top business credit cards designed for start-up companies. It comes with a variety of benefits, including a substantial sign-up bonus along with purchase protection, as well as travel benefits. However, it has some drawbacks.
The Ink Business Preferred Card isn’t the perfect card, but it isn’t insignificant. There aren’t any initial APR offers and the spending limit might not be suitable for your company. This isn’t the most efficient points-earning feature.
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On the other side the Ink Business Preferred Card offers many other beneficial features, such as liability insurance in addition to primary car rental insurance as well as a shopping security. If you’re a small-sized business owner, you’ll surely benefit from these perks.
The Ink Business Preferred Card is another excellent method to earn points. When you spend money in certain categories, you’ll earn 3 points for every dollar you spend. For instance, if you make a purchase of $500 to your credit card during the first three months, you’ll get a welcome bonus of 100,000 points.
Divvy is an excellent choice for business owners who are just starting out looking for an enterprise card. This kind of card comes with numerous advantages and features. You can also monitor your business expenses with this card.
Divvy is compatible with any external accounting software to allow users to monitor their financial expenses. You can create a budget, set maximum limits and request money. It also lets you set the spending limit for your employees.
Divvy also has corporate cards. These cards evaluate your business’ finances and help you determine how much you’ll need to 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 get the highest rates of interest for business loans. They also offer rewards. Chase Ultimate Rewards business credit cards offer bonus points that can be converted into cash or cash back. Some cards offer rewards for travel and shopping while others can be used to improve your credit score.
There are many credit card issuers you can choose from, such as Chase. You must also think about the method of use for the credit card. It is important that you select the correct business credit card for your requirements.
The Ink Business Preferred(r) Credit Card is a good choice for a small business owner. This card provides solid rewards on different categories of purchases and even will pay for employees’ cell phone bills.