For those who are starting the business of their own, one of 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 applying for a business credit card can be a bit overwhelming and confusing. Here are some tips to be aware of when applying for credit card.
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Brex provides a range of financial products, including corporate credit cards, spend management and expense management software. Brex offers a comprehensive financial solution for startups.
The Brex Card, or Brex for Startups, is an account that helps entrepreneurs build credit histories. The applicants don’t have to pay interest or require personal guarantees. Instead, applicants are evaluated based on their company’s budget and business model.
The applicants can enjoy up to a 100 percent credit limit. The limit is determined by 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 rewards on purchases. For instance, you could get four points on travel 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 spend management tool. The card comes with a host of benefits including a standard 1.5% cash back rate on all purchases. There are no annual fees and the card doesn’t have any other requirements, aside from a good credit score.
A low-interest business credit line is a great option for businesses that are just starting out. A business credit card that comes with added security may be a viable option.
Business credit cards with low interest are extremely convenient since you’re not juggling the hassle of managing multiple cards or worrying about the amount of money you’ll be able to afford each month. This is particularly true if you’re looking to finance large purchases.
Ink Business Preferred Credit Card
The Ink Business Preferred Card is one of the most well-known business credit cards for new businesses. It offers many benefits, including a substantial reward for signing up as well as purchase protection and travel perks. It does have some drawbacks.
The Ink Business Preferred Card may not be perfect. There are no introductory APR promotions available, and the spending limit could be too low for your company. Furthermore, it’s not the most generous points-earning feature.
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The Ink Business Preferred Card, however, offers many other useful features like liability insurance and primary car rental coverage shopping protection, and primary coverage for car rentals. As a small company owner, you’ll certainly benefit from these benefits.
The Ink Business Preferred Card is another great method to earn points. When you spend in certain categories, you can earn three points for every dollar you spend. For instance, if you add $500 worth of purchases to your card during the first three months, then you’ll be rewarded with the welcome bonus of 100,000 points.
If you’re a start-up business owner in search of a business credit card you might want to think about Divvy. This type of card offers various benefits and features. It also allows you to track your business expenses.
Divvy is compatible alongside any other accounting software that allows users to monitor their financial expenses. The software allows you to set a budget, limit spending and even request money. In addition, Divvy allows you to set a spending limit for your employees.
Divvy also has a corporate card. The cards analyze your company’s finances and decide how much you’ll have 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 crucial to know the interest rate for the company before you apply.
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Chase Ultimate Rewards
Business credit cards can be used to secure highest rates of interest for business loans. They also offer rewards. For example a Chase Ultimate Rewards business credit card gives you bonus points that can be converted into cash. Certain cards provide rewards for shopping and traveling, and others can be used to to build credit for your business.
There are a variety of credit card issuers to pick from, including Chase. But, you must consider the manner in which you use a particular credit card. It is important to select the right business credit card that meets your specific needs.
Small-scale business owners will find the Ink Business Preferred(r) Credit Card an excellent choice. This card offers solid rewards for various categories of purchases and even covers mobile phone expenses.