Compare Small Business Credit Cards
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Small business credit cards are perfect for the small or large business owner. Whether it is a large or small business, having a line of credit is crucial and business owners need to compare small business credit cards to determine whether or not they fit their business needs.
For some business owners, determining what type of small business credit card fits the needs of their business may be a daunting task. What’s most important to keep in mind is that sitting down and brainstorming is better than finding out later that a bad decision was made and it could quickly become a very costly mistake.
The business owner should be aware that if a small business credit card offers major traveler’s benefits, like travel points and traveler’s insurance,Once the business owner determines what best suits the needs of his or her business, then follows the process of research, the best credit card choice can be made.
Credit card companies offering business credit cards pride themselves on showcasing what the company is offering. With great advertising effort,These cards use words like “Earn Points” that can be used to purchase supplies at selected vendor locations. “No Spending Limit” allows cardholders to have no pre-set limit, which means they are not bound to a strict purchase limit. “Low interest rates” allow business owners to pay only minimal interest rate fees. ‘Pay back’ guidelines may be either the next month or account payments may be stretched out to let business owners have the luxury of not worrying about paying the balance on their business credit cards. Comparing business cards can sometimes be a daunting experience but for the most part it is a needed task because making educated choices is necessary when self employed in order to avoid business failure.
Comparing small business credit cards can lead to determining what suits the needs of your business. The types of business cards vary and each offers incentives to business owners in order to maintain or create long lasting business relationships and respectability. There are, however, certain types of business credit cards that all business owners, large or small, should take advantage of.
It is best to look for the type of credit card that offers attractive low interest rates that are not only implemented temporarily, but that will stay low for the life of the business credit card. Make certain the low interest rate is not advertised for just the first month of the business credit card or for the first year of the business credit card. Compare business credit cards and determine which fits this case. small Business credit cards with an introductory 0.00% APR can, however, be great for a business owner that anticipates being able to pay the balance in full every month after the introductory period is complete.
Some small business credit cards have phenomenal cash back rebates programs, but have a limit to the number of cash back awards the business credit card receives. Look for the credit card that has a no limit on its cash back program. There are also some business credit cards that give business owners the option to pay over time or pay balance in full. It is important to decide on business needs before choosing the business credit card that has these options. Paying over an extended time period can be helpful when making large purchases with a small business credit card, but the interest rate can have a large impact on the final amount paid. The bottom line is to compare business credit cards in order to choose the right one to meet all of the business’ needs.
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Help answer the question
Do credit card companies send small business credit cards to people who do not own small businesses?
Is it normal practice for credit card companies to send, pre-approved or not pre-approved, small business credit cards to people who do not own small businesses? Have you ever received one?
small business credit
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9 Comments
October 15th, 2009 at 6:02 am
I have received several and I can never figure out why. I don't need any more credit cards, much less business ones. I don't run a business.
October 15th, 2009 at 6:37 am
I googled business credit cards for ya and sites like Findbizcards etc don't have anything in terms of business credit. You're going to find that since this economy is in the crapper, banks are less than willing to lend to a business, even if it's successful.
October 15th, 2009 at 2:27 pm
I have heard two years, but I got one after a year or so. Be prepared to enter personal information, too. That can help your chances of getting approved.
There are some good FAQs here:
http://www.e-wisdom.com/credit-cards/business-credit-cards.html
October 16th, 2009 at 12:57 am
This what people do not get, PROTECT YOUR CREDIT RATING because it will haunt you for years to come.
In your case you need a card so you can "juggle" things, what does that mean? So you can run it to the limit and get into more trouble with credit.
If you haven't the money YET to start up your own business you go out and work for someone else until you do have some money and then if you reallllllly, realllllly want it bad enough get another job and save money.
Good luck but depend on your own work to get you going NOT credit cards.
ADDED
What the heck is wrong with saving? Oh I know the I want it NOW attitude.
October 17th, 2009 at 12:25 am
you will also need a comprehensive business plan to have any hope of getting a business loan or investor interest
October 17th, 2009 at 5:24 am
A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.
However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts – you are.
When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own.
Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information.
Good luck,
Ilya Bodner
Small Business Owner
Initial Underwriting Group
October 17th, 2009 at 8:45 pm
There are two business credit cards that I will definitely recommend. I'm confident because have them myself.
Capital One Visa Business Platinum with No Hassle Cash (SM) card is ideal for business owners who want to earn cash rewards and get an annual cash bonus on earnings. Cardholders will receive 1% cash back on all their purchases. Plus, they will be rewarded with a 25 percent bonus annually on all the cash back earnings from the prior year.
Great Review Here: http://www.rewardcreditcardsite.com/business-rewards-credit-cards/capital-one-visa-business-platinum-with-no-hassle-cash-sm/
Capital One Visa Business Platinum with Preferred No Hassle MilesSM card is right for business owners who have a new business, or want a rewards card with competitive APR. This card is ideal for businesses that make large or frequent purchases. With No Hassle Rewards®, miles can be redeemed for cash back, merchandise, gift certificates, and more; and with a 0% introductory APR on purchases and no annual fee, you could save money, too.
With this card, you’ll earn more miles for your business spending. Earn up to 10,000 bonus miles in your first year—5,000 bonus miles after your first purchase and 5,000 bonus miles each year you spend at least $5,000 on purchases.
Great Review Here:
http://www.rewardcreditcardsite.com/business-rewards-credit-cards/capital-one-visa-business-platinum-with-preferred-no-hassle-miles-sm/
October 17th, 2009 at 10:53 pm
If your business has a checking account with a bank, you may want to check with them to see if they will offer your business a credit card securred by the business EIN and not your SSN. Sometimes they will be willing to do so.
Also, once your business paydex score reaches a certain level, you will receive offers for business credit without a personal guarantee.
Good luck in your new business venture.
October 18th, 2009 at 8:49 am
This website should help:
http://goodcreditnow.NewCreditApplications.com