For those that are starting a business, one of the most important questions they’ll have to answer is “Can I get a business credit card?” The answer is yes, but the process of applying for an official business credit card can be overwhelming and confusing. Here are a few points you should be aware of about the process of getting a credit card.
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Brex offers a variety of financial products, including corporate credit cards as well as spend management and expense management software. It offers a complete financial solution for startups.
The Brex Card, or Brex for Startups, is an credit card that assists startups establish credit histories. Applicants don’t pay interest or provide a personal guarantee. Instead, applicants are evaluated based on their company’s financial model and spending habits.
Credit limits of up to 100 percent are permitted for applicants. This limit is determined by the amount of money a customer has in their Brex Cash account. Every day the Brex Card draws from the account to determine its spending limit.
You can earn valuable rewards using a Brex Corporate credit card. For instance, you’ll earn four points on trips booked through Brex Travel. You can also earn three points when dining out.
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Capital on Tap
Capital on Tap is a small-sized business credit card that can be used as a budget management tool. The card offers a slew of benefits including a standard 1.5% cash back rate on all purchases. The card has no annual fees and doesn’t require any other requirements than an excellent credit score.
For a startup business it is possible to reap the benefits of a business credit card that is low-interest can be extremely appealing. A business credit card that offers added security may be an option.
One of the key features of a low-interest business credit card is that you don’t need to worry about managing multiple cards or worrying about how much you’ll have to pay every 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 most sought-after business credit cards for new businesses. It comes with a variety of advantages, such as a huge initial bonus along with purchase protection, as well as travel perks. However, it does have some disadvantages.
The Ink Business Preferred Card isn’t perfect, however. There aren’t any initial APR promotions and the spending limit might not be suitable for your company. It’s also not the most effective points-earning feature.
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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 in addition to primary car rental insurance, and a shopping protection. As a small-scale business owner, you’ll definitely get these benefits.
Moreover, the Ink Business Preferred Card is an excellent method to earn points. Spend in certain categories and earn 3 points for every dollar. In this example, if you spend $500 on purchases made with your card in the first three months, you’ll receive a 100,000-point welcome bonus.
Divvy is a good option for business owners in the beginning looking for an business card. This card comes with a wide range of advantages and features. It also allows you to keep track of your business expenses.
Divvy can be used with any external accounting software to allow users to view their financial expenses. The program lets you make a budget, limit spending, and request funds. In addition, Divvy allows you to set a maximum spending limit for your employees.
Divvy also has a corporate card. These cards analyze your business’ finances and help you decide what amount of money you’ll need to invest every month. Divvy does not require personal guarantees, unlike traditional business credit cards.
However, Divvy doesn’t disclose interest rates on its website. Therefore, it is important to be aware of the company’s rates prior to applying.
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Chase Ultimate Rewards
Business credit cards can be used to obtain the best 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 translate to cash back. Certain cards provide rewards for shopping and travelling, and others can be used to help improve your company’s credit score.
There are numerous credit card issuers you can select from, including Chase. But, you must consider the ways you will make use of a particular credit card. It is essential to locate the best business credit card that meets your particular needs.
Small-sized businesses will find the Ink Business Preferred(r), Credit Card a great option. The card provides solid rewards for various categories of purchases and even covers mobile phone costs.