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?” The answer is yes but the process of getting an official business credit card can be daunting and confusing. Here are some tips to be aware of the process of obtaining the credit card.
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Brex 30
Brex provides a range of financial services including corporate credit cards as well as spend management and expense management software. Brex provides a complete financial solution for startups.
The Brex Card, also known as Brex for Startups, is an credit card that assists entrepreneurs build credit histories. The applicants don’t pay interest or need to provide personal guarantees. Instead, applicants are assessed by the business model of the company and spending patterns.
Credit limits as high as 100 percent are available to applicants. The limit is determined based on the amount of money that is in a customer’s Brex Cash account. Each day the Brex Card draws from the account to determine its spending limit.
You can earn significant rewards when you use the Brex Corporate credit card. Brex Travel offers four points when you book travel. You can also receive three points when dining out.
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Capital on Tap
Capital on Tap is a small-sized business credit card that can also be used as a spend management tool. The card offers a slew of benefits including a flat 1.5% cash back rate on all purchases. There are no annual charges, and the card doesn’t have other requirements, aside from having a high credit score.
A business credit card with a low-interest rate is a great choice for startups. A business credit card that offers added security may be a possibility.
One of the key benefits of a business low-interest credit card is that you don’t need to fret about juggling several cards or worrying about the amount you can afford to pay 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 top business credit cards designed for start-up businesses. It has many benefits, including a substantial sign-up bonus along with purchase protection, as well as travel benefits. It has some downsides.
The Ink Business Preferred Card isn’t ideal, however. There aren’t any promotional APR promotions and the spending limit may not be appropriate for your company. It’s not the most efficient points-earning feature.
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On the other side the Ink Business Preferred Card offers a lot of other useful features, including liability coverage, primary car rental coverage and a shopping insurance. These perks are great for small business owners.
Additionally it is worth noting that the Ink Business Preferred Card is a great method to earn points. If you make purchases in certain categories, you can earn three points per dollar you spend. For example, if you charge $500 on purchases to your card in the first three months, you’ll receive a welcome bonus of 100,000 points.
Divide
The Divvy is a great option for entrepreneurs who are starting their business and seeking a business card. This card comes with a wide range of advantages and features. You can also keep track of your business expenses using this card.
Divvy is compatible alongside any other accounting software to allow users to monitor their financial expenses. The software allows you to create a budget, limit spending, and request funds. Divvy also allows you to set a spending limit for your employees.
Divvy also offers a corporate credit card for businesses. These cards evaluate your business’ finances and help you decide how much money you should 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. Therefore, it’s crucial to understand the company’s rate before submitting an application.
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Chase Ultimate Rewards
Business credit cards can be used to get the highest interest rates for business loans and offer 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 shopping and travel, while others can be used to boost your credit score.
There are a myriad of credit card issuers you could choose from, including Chase. You should also consider how you will use the credit card. It is essential to locate the best business credit card that meets your specific requirements.
Small-scale business owners will find the Ink Business Preferred(r) Credit Card an excellent choice. The card is a good option for earning rewards across a variety of categories and even covers mobile phone costs.