For those who are just beginning a business, one the most important questions they’ll need to answer is “Can I get a business credit card?” The answer is yes but the process of obtaining a business credit card can be daunting and confusing. Here are a few tips to be aware of the process of applying for credit card.
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Brex offers a variety of financial services like corporate credit cards, spend management and expense management software. It offers a complete financial solution for new businesses.
The Brex Card, also referred to as Brex for Startups is a credit card designed to help start-ups establish their credit histories. It doesn’t charge interest and don’t have to offer an individual guarantee. Instead, applicants are rated by company business model and spending habits.
Users can get a 100 percent credit limit. This limit is based on the amount of money that is in the customer’s Brex Cash account. Every day, the Brex Card draws from the account to determine its limit for spending.
You can earn valuable rewards with a Brex Corporate credit card. For instance, you could 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 a spend management tool. The card comes with a range of benefits, including a simple 1.5 percent cashback rate on all purchases. The card does not have annual fees and does not have any other requirements than an excellent credit score.
A low-interest business credit line is a great option for those who are just starting out. A business credit card with added security may be an option.
One of the primary advantages of a low interest business credit card is that you don’t have to fret about juggling several cards or worrying about the amount you can afford to pay off every 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 top business credit cards for startup companies. It offers a range of benefits, including an impressive sign-up bonus, purchase protection, and travel benefits. However, it has some disadvantages.
The Ink Business Preferred Card isn’t the perfect card, but it isn’t insignificant. There aren’t any initial APR deals and the spend limit may not be appropriate for your business. 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 as well as primary coverage for car rental, and a shopping protection. If you’re a small company owner, you’ll certainly benefit from these perks.
The Ink Business Preferred Card is another excellent way to earn points. Spend in certain categories and you’ll earn three points per dollar. For instance, if you make a purchase of $500 to your card during the first three months, then you’ll be rewarded with the welcome bonus of 100,000 points.
Divvy is a good option for business owners who are just starting out looking for business cards. This kind of card comes with numerous benefits and features. It also lets you monitor your business expenses.
Divvy can be used with accounting software, allowing users to easily view the financial expenses. You can then create budget, set maximum limits and request money. Additionally, Divvy lets you to set a maximum spending limit for your employees.
Divvy also has corporate cards. These cards evaluate your business’s financial situation and decide on how much you’ll need to spend every month. As opposed to traditional business credit card, Divvy is not a requirement for personal guarantees.
However, Divvy does not disclose any interest rates on its website. It is important to find out the company’s interest rate before you apply.
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Chase Ultimate Rewards
Business credit cards can be used to secure most favorable rates of interest on business loans, and also provide valuable rewards. For example, a Chase Ultimate Rewards business credit card gives you bonus points that can be converted into cash. Some cards offer rewards for travel and shopping and others can be used to improve your credit score.
There are numerous credit card issuers you could pick from, including Chase. However, you should think about how you will make use of a particular credit card. It is crucial to select the correct business credit card that meets your requirements.
The Ink Business Preferred(r) Credit Card is a great option for small-sized business owners. The card is a good option for earning rewards for various purchase categories and even covers employees’ mobile phone costs.