If you find yourself looking for a small business credit card and are not sure where to turn, take a deep breathe, you are not alone! If you are looking for a small business credit card, below are some simple tips to help you find the right fit for you and your business. Regardless of if you are looking for a credit card which offers you corporate lounge access, a card which offers you the highest sign up bonuses of the year, or just a car who can offer you an incredibly low-interest rate and financing to help you get your business off the ground.
- If you do plan on using the business credit card for financing and you pay off the balance each month, you can find a credit card which will offer you business rewards points,which will earn you money every time you use that credit card – even if your purchases are not always business related and you use the credit card to fill your car up with gas. There are also numerous companies who have corporate friendly rewards programs which offer you items like discounted office supplies and gas, while others companies will even offer you air miles or other travel perks.
- When choosing a business credit card, the interest rate should be your primary concern. The good news is the APRs on business credit cards do average slightly lower than those of a personal credit cards. However, if you have a high credit score, it may be in your best interest to get a personal credit card and use that for the business expenses, as you will most likely be able to beat any interest rate a business credit card can offer you.
- If you do plan on using your credit card for financing, you should try and find a low interest credit card, as opposed to a rewards credit card. There are some credit cards out there who will offer you a zero interest rate for up to a year or no APR. Credit unions are also very good at offering lower ongoing interest rates.