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?” Although the answer is yes but it can be daunting and confusing to apply for an enterprise credit card. Here are some things you need to know about the process of applying for an credit card.
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Brex 30
Brex provides a broad range of financial services, such as corporate credit cards spending management, as well as expense management software. Brex provides a complete financial solution for entrepreneurs.
The Brex Card, also known as Brex for Startups is a credit card for start-ups that helps them build credit histories. The cardholders don’t have to pay any interest and don’t need to provide personal guarantees. Instead, applicants are evaluated on the basis of their business model and spending patterns.
Credit limits up to 100 percent are available to applicants. The limit is determined by the amount of money the customer has in their Brex Cash account. The Brex Card draws daily from the account to determine its spending limits.
You can earn significant rewards using a Brex Corporate credit card. For instance, you’ll earn four points on trips 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 all-in-one small business credit card and spending management tool. It offers a wide range of benefits, including a standard 1.5 percent cashback rate on all purchases. The card has no annual charges and doesn’t need any other qualifications other than a good credit rating.
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 provides additional security.
A low-interest business credit cards are extremely convenient since you don’t have the worry of managing multiple credit cards or worrying about how much you can manage each month. This is particularly important if you’re trying to finance major expenditures.
Ink Business Preferred Credit Card
The Ink Business Preferred Card is one of the most well-known business credit cards that are designed for startups. It has many benefits, including a high sign up bonus, purchase protection, as well as travel perks. However, it also has some disadvantages.
The Ink Business Preferred Card isn’t the perfect card, but it isn’t insignificant. There are no introductory APR promotions to be found and the spending limit may be too low for your business. In addition, it’s not exactly the most generous points-earning option.
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On the other hand, the Ink Business Preferred Card offers a lot of other useful features, including liability coverage as well as primary coverage for car rental, and a shopping protection. As a small company owner, you’ll certainly benefit from these perks.
The Ink Business Preferred Card is another great method to earn points. Spend in certain categories and you’ll earn three points per dollar. In this instance, if you spend $500 on purchases to your card in the first three months, you’ll be awarded a 100,000 points welcome bonus.
Divide
If you’re a start-up business owner looking for a business credit card you might want to consider Divvy. This card offers a variety of advantages and features. You can also keep track of your business expenses by using this card.
Divvy can be integrated with any external accounting software that allows users to look at their financial expenses. You can create a budget, set limits on spending and request money. Additionally, Divvy lets you set the spending limit for your employees.
Divvy also has a corporate card. The cards analyze your company’s finances and determine the amount you’ll have to spend each month. As opposed to traditional business credit card, Divvy does NOT require personal guarantees.
However, Divvy does not disclose any interest rates on its website. Therefore, it’s crucial to learn about the rates offered by the company prior to applying.
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Chase Ultimate Rewards
Business credit cards are a way to secure the best rates of interest on business loans, and can also offer valuable rewards. For instance a Chase Ultimate Rewards business credit card gives you bonus points that can translate to cash back. Certain cards provide rewards for shopping and traveling and others can be used to build your credit score.
Aside from the best business credit cards offered by Chase but there are many other credit card issuers you can use. However, you should think about the ways you will use a particular credit card. It is essential to locate the right business credit card that is suitable for your specific needs.
Small-scale business owners will find the Ink Business Preferred(r) Credit Card a great option. The card provides solid rewards for various categories of purchases and even will pay for employees’ mobile phone bills.