If you are a small business owner and you are looking for a business credit card but have poor credit, you may want to check out the Small Business Micro Loan Visa Card. Although it has some fees and higher interest rates than some other credit cards, it is a good way to maintain a separation between your business purchases from your personal ones.
If you would like to compare credit cards and their rates right now, just use the credit card chaser tool on this page.
Small Business Micro Loan Visa Card Benefits
One of the benefits of the Micro Loan credit card is that any small business can apply for it, even entrepreneurs and sole proprietors. Because it is a business credit card, you are able to have your business name printed on it, which can be considered a marketing tool.
Another benefit of the Small Business Micro Loan Visa card is that it can be used for your daily business expenses and keeps your business and personal expenses separate, which makes tax time a lot easier. If you have bad credit, it allows you to obtain a business credit card that you may otherwise not be able to get.
Small Business Micro Loan Visa Card Disadvantages
The Micro Loan business credit card comes with some fees that you don’t find with all business cards. There is an account origination fee of $125 and a monthly maintenance fee of $9.95. The credit card also has a maximum credit line of $750.
Unlike other credit cards, you cannot transfer balances to or from this credit card. It is also not a rewards credit card so it does not accumulate points.
The Micro Loan credit card carries a fairly high interest rate of 23.99% for purchases and cash advances. Cash advances also have a fee of 5%.There is also not a grace period for purchases so interest starts accruing right away. Make sure you read the conditions and terms of the credit card so that you understand what the fees are.
For other advice about how to raise your credit score, check out http://www.suzeorman.com.
Use the credit card chaser tool right now to compare credit cards and their rates.
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