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Tips to Know
Business credit cards are a great asset to have your for your business. This is by far one of the easiest ways to obtain credit when you’re looking to add much needed cash to your small business. Whether you need it for advertising, or office supplies, you’re going to find that many of the cards mentioned above are the perfect fit for your business.
Before you set out to find a card for your business, there are a few things that you’re going to want to consider before you apply for a card.
These are all things that you’re going to want to consider when looking at the cards. You’re going to find that many of the cards out there are going to vary in features, fees and more. You will also want to make sure that you look into various reviews across the web to ensure that you’re getting a card that is going to work great for your business.
Interest rates with your card is going to vary from time to time as well so be sure to look into the fine print to ensure that you're getting the best for your business. Many owners decide to apply for the card but soon find out that the terms and conditions change rather fast.
While these cards are fantastic for helping your business with paying off much needed expenses, be sure to spend responsibly, as well as choose a card that fits your business the best. By doing so, you’re going to find that you should be able to fit one out that works best for you.
Using Your Card
Yes, you have a business now, but there is no reason that you can just go out and spend. Instead, you're going to want to make sure that you treat this just as if it's a personal card. Be sure to only purchase what you need, as well as what you can afford. If you're finding that a small business credit card doesn't offer the credit line you require or it's something that you aren't interested in, it may be beneficial to look into small business loans. Like a credit, a business loan can work in the same way, sometimes even offering a larger credit line. Even if you don't think a loan such as this could help, it's always best to compare the two before making a decision.
Just like a personal card, you're going to want to make suer that you pay the bill off in full each month. As a business owner, it's really tempting to spend the cash you're going to find that it's going to be treated differently. Pay the bill off in full each and every month so that you can avoid all interest rate charges.
What is the APR for the card? Be sure to look at the fine print as these may be introductory periods.
What is the annual fee? Can you afford this annual fee? Can you justify it?
What kind of rewards are there? If you're worried about getitng rewards, what kind of rewards can you get with this card? What sets it above the rest?
What are the reviews? What are other people saying about the card? Are you getting great vibes about the card, or are other people saying bad things about it?
What are the credit limits? While many companies don't come out forward to tell you the credit limit you're going to get, it doesn't hurt to research the limit itself.
Can you get addtional cards? If you have employees, you're going to want to see if you can get cards for your employees.
Any other features? What are the other features that you can get with the card? How is the customer service?