While rewards are nice, some things are just more important. Issuing institutions might offer their own branded reward points and benefits, or sometimes a gift card, so you might see if the banks, credit unions, or other institutions you patronize offer specific benefits for adding a business credit card to your existing account. Membership rewards such as to streaming services or premium-level accounts.Access to VIP areas at events or museums.
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Of course most cards offer cash back or rewards points on eligible net purchases, but more specific offerings are available in the form of membership rewards and free services. The business credit card market has grown highly competitive, which means that the range of benefits offered by various credit card networks and issuing institutions are growing. If one or more of these features is important for your business you can begin your search by targeting business credit cards that offer those features. Determine the credit scoring service you’d like to target and then research the business credit cards that work with that credit bureau.
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Instead you can get a secured business card (which is “secured” by an upfront deposit) or a charge card which functions like a credit card but features lower limits and must be paid in full every month. Credit card types: If you have poor credit you may not be able to get a traditional business card.Foreign transaction fee: Are international transactions free or charged the standard 3% fee?.A small business around a hundred people might be looking for a small business credit card that provides employee cards to facilitate growth.
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Business size: A business of ten or fewer people might look for a small business card that cuts intro APR or useful tools like analytics when you’re running a spartan crew.Introductory 0% APR: Low or 0% no-interest introductory rates are great for making lots of up-front purchases that you won’t be able to pay off right away.Rather than jumping in headfirst, you can begin with your business lifestyle and general needs to help you narrow the scope of your research.Ĭonsider the different benefits of a business credit card: Take some time to understand exactly what sets business credit cards apart. 70% of Americans use at least one credit card, but many individuals don’t understand the fundamental distinctions of a business credit card. There are so many options for business credit cards out there-it’s easy to get overwhelmed.