For those who are just beginning a business, one the most important questions they’ll have 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 to be aware of before obtaining the credit card you need.
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Brex offers a variety of financial services including corporate credit cards spending management, as well as expense management software. Brex offers a complete financial solution for new businesses.
The Brex Card, also known as Brex for Startups, is an account that helps startups establish their credit history. It doesn’t charge interest and don’t need to provide personal guarantees. Instead, applicants are evaluated by company business model and spending patterns.
The applicants can enjoy up to 100 percent credit limit. The limit is determined by the amount of money customers have in their Brex Cash account. Each day the Brex Card draws from the account to determine its limit for spending.
You can earn valuable rewards when you use the Brex Corporate credit card. For instance, you could get four points on travel booked through Brex Travel. Additionally, you can 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 an expense management tool. The card offers a slew of benefits, including a fixed 1.5 percent cash-back rate on all purchases. There are no annual fees and the card doesn’t have other requirements aside from an excellent credit score.
A low-interest business credit line is a great option for those who are just starting out. It is also possible to look into a credit card for business that offers additional protection.
One of the primary advantages of a low-interest business credit card is that you don’t need to fret about juggling several cards or worrying about the amount you can afford to pay off each month. This is especially true if are planning to finance significant expenses.
Ink Business Preferred Credit Card
The Ink Business Preferred card is one of the top business credit cards for startup companies. It comes with a variety of advantages, including a large initial bonus, purchase protection, as well as travel perks. However, it has some drawbacks.
The Ink Business Preferred Card may not be the best choice for you. There aren’t any promotional APR promotions to be found, and the spending limit may be too low for your company. It’s also not the best points-earning feature.
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On the other side however, the Ink Business Preferred Card offers several other valuable features, such as liability insurance in addition to primary car rental insurance and a shopping insurance. These benefits are perfect for small-scale business owners.
Moreover, the Ink Business Preferred Card is an excellent way to earn points. Spend in specific categories and you’ll earn 3 points for every dollar. For example when you spend $500 on purchases to your card in the first three months, you’ll be awarded a 100,000 points welcome bonus.
The Divvy is a great option for startup business owners looking for an business card. This type of card offers numerous benefits and features. It also allows you to monitor your business expenses.
Divvy is compatible with external accounting software that allows users to quickly view the financial expenses. The program allows you to make a budget, limit spending, and request funds. It also lets you set an expense limit for your employees.
Divvy also has corporate cards. These cards look at your company’s finances and determine how much you can spend every 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 crucial to know the interest rate of the company prior to you apply.
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Chase Ultimate Rewards
Business credit cards provide the opportunity to get the most favorable interest rates on business loans. They can also provide valuable rewards. For instance, a Chase Ultimate Rewards business credit card offers bonus points that can be converted into cash back. Some cards offer rewards for travel and shopping while others can be used to help improve your company’s credit score.
There are many credit card issuers that you can select from, including Chase. But, you must consider the way you intend to make use of a particular credit card. It is essential to locate a business credit card that suits your specific needs.
The Ink Business Preferred(r) Credit Card is a viable option for small-sized business owners. This card is a great way to earn rewards on various purchase categories as well as will pay for employees’ cell phone bills.