If you’re thinking about creating your own business, the most important question you should ask yourself is “Can I get my business credit card?” Although there is a yes answer but it can be challenging and overwhelming to apply for an enterprise credit card. Here are some things you need to be aware of when applying for a credit card.
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Brex offers a wide variety of financial services, including corporate credit cards, spend management, and expense management software. Brex provides a complete financial solution for entrepreneurs.
The Brex Card, also referred to as Brex for Startups is a credit card for start-ups that helps them build credit histories. The applicants don’t pay interest or provide a personal guarantee. Rather, applicants are evaluated on the basis of their business model and spending patterns.
Users can get a 100 percent credit limit. This limit is determined by the amount of money that is in the customer’s Brex Cash account. The Brex Card draws daily from the account to determine its spending limits.
You can earn rewarding rewards using a Brex Corporate credit card. For instance, you’ll 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 all-in-one small business credit card and spending management solution. The card offers a variety of advantages, including a fixed 1.5 percent cashback rate on all purchases. There are no annual charges, and the card does not have other requirements aside from an excellent credit score.
For a startup business one of the advantages of using a business credit card with low interest could be very appealing. You might also consider a business credit card with additional protection.
A business credit card with a low-interest rate are very convenient because you’re not juggling the hassle of managing multiple cards or worrying about how much money you’ll be able to afford each month. This is especially true if you are planning to finance significant expenses.
Ink Business Preferred Credit Card
The Ink Business Preferred Card is one of the most well-known business credit cards for new businesses. It provides many benefits, including a substantial initial bonus as well as purchase protection along with travel perks. However, it does have a few drawbacks.
The Ink Business Preferred Card isn’t the perfect card, but it isn’t insignificant. There are no introductory APR promotions and the spending limit may not be appropriate for your business. It’s also not the most generous point-earning system.
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On the other hand, the Ink Business Preferred Card offers a lot of other useful features, such as liability insurance, primary car rental coverage and a shopping protection. These benefits are ideal for small business owners.
Additionally, the Ink Business Preferred Card is an excellent opportunity to earn points. Spend in certain categories , and you’ll earn three points per dollar. For instance, if charge $500 on purchases to your credit card during the first three months, you’ll receive an initial bonus of 100,000 points.
The Divvy card is a great choice for business owners in the beginning seeking an enterprise card. The card comes with a range of advantages and features. You can also keep track of your business expenses using this card.
The Divvy app can be used alongside any other accounting software that allows users to look at their financial expenses. You can then create a budget, set maximum limits and request money. Additionally, Divvy lets you set a spending limit for your employees.
Divvy also offers a corporate card. These cards assess your company’s finances and determine the amount you should spend every month. Unlike traditional business credit cards, Divvy is not a requirement for personal guarantees.
However, Divvy doesn’t disclose interest rates on its website. Therefore, it’s essential to understand the company’s rate before applying.
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Chase Ultimate Rewards
Business credit cards can be used to get the most competitive rates of interest for business loans, and also provide valuable rewards. For instance a Chase Ultimate Rewards business credit card offers bonus points that can be converted into cash. Some cards offer rewards for travel and shopping and some can be used to improve your company’s credit score.
Apart from the top business credit cards from Chase but there are many other credit card issuers that you can turn to. However, you should consider how you will use a particular credit card. It is important to find an enterprise credit card that is suitable for your specific requirements.
The Ink Business Preferred(r) Credit Card is a viable option for small-sized business owners. The card is a good option for earning rewards for various purchase categories and even covers mobile phone bills.