If you’re thinking of creating your own business, the first important question you should ask yourself is “Can I get my business credit card?” The answer is yes but the process of applying for a business credit card can be a bit overwhelming and confusing. Here are some things to be aware of when applying for a credit card.
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Brex offers a wide variety of financial services, such as corporate credit cards, spend management, and expense management software. Brex offers a complete financial solution for startups.
The Brex Card, also known as Brex for Startups, is an credit card that assists startups build their credit history. The applicants don’t pay interest or require an individual guarantee. Instead the applicants are evaluated on their financial model and spending habits.
Applicants can have up to 100 percent credit limit. The limit is determined based on the amount of money 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 valuable rewards on purchases. Brex Travel offers four points when you book travel. You can also get three points for dining out.
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Capital on Tap
Capital on Tap is a complete small business credit card and spending management system. The card comes with a variety of benefits, including a fixed 1.5% cash back rate on all purchases. The card has no annual fees and doesn’t have any other conditions other than an excellent credit score.
For a startup business benefiting from a low-interest business credit card can be extremely appealing. A business credit card that offers additional protection may be a viable option.
Business credit cards with low interest are extremely convenient since you’re not juggling the hassle of managing multiple credit cards or worrying about how much you can manage 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 popular business credit cards for new businesses. It provides many advantages, such as a huge sign up bonus along with purchase protection, and travel perks. It does have some drawbacks.
The Ink Business Preferred Card may not be ideal. There are no introductory APR promos and the spending limit might not be suitable for your business. Furthermore, it’s not the most generous points-earning program.
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On the other hand the Ink Business Preferred Card offers several other valuable features, including liability coverage, primary car rental coverage as well as a shopping security. These perks are great for small business owners.
The Ink Business Preferred Card is another excellent way to earn points. When you spend in specific categories, you can earn 3 points for every dollar you spend. In this example, if you spend $500 on purchases made with your card in the first three months, you will get a 100,000 point welcome bonus.
If you’re a business owner looking for a business credit card, you may want to consider Divvy. The card comes with a range of advantages and features. It also allows you to monitor your business expenses.
Divvy can be integrated with any external accounting software to allow users to look at their financial expenses. You can create budget, set limits, and request money. In addition, Divvy allows you to set a maximum spending limit for your employees.
Divvy also offers a corporate card. These cards review your company finances and assist you to decide what amount of money you can spend every 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 essential to know the interest rate of the company before you make an application.
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Chase Ultimate Rewards
Business credit cards can be a way to secure the best rates of interest on business loans. They can also offer valuable rewards. For example the Chase Ultimate Rewards business credit card offers bonus points that can translate to cash back. Some cards offer rewards for shopping and traveling as well as others that can be used to improve your credit score.
Aside from the best business credit cards offered by Chase and other credit card issuers you can use. However, you should consider the way you intend to utilize a specific credit card. It is essential to select the correct business credit card to meet your requirements.
Small-sized business owners will find the Ink Business Preferred(r) Credit Card an excellent option. This card provides solid rewards on different categories of purchases as well as will pay for employees’ cell phone bills.