What small business credit card offers should I look for?

Man Looks For Small Business Credit Card Offers

Every business has its own unique set of needs and limitations. A small business does not always have the money on hand that it needs like a larger business or corporation might. This is where a credit card would be useful. A small business should always look for a credit card with a low annual percentage rate and if they can qualify for it a rewards credit card is typically a very good choice.

By using the credit card chaser, any small business owner can find the perfect credit card for their business.

After choosing the best card to fit their needs, that business owner should go to sites like SmartMoneyand Suze Orman to find great advice on responsible business spending.

What should a small business consider when choosing a credit card?

The first thing a business owner should consider when trying to decide which credit card is best for their company is whether or not a balance will be carried on the card or if they intend to pay the balance off at the end of each month. The answer to this question can greatly influence the type of credit card the business owner chooses.

If the business will carry their balance over each month, it would benefit the most from a credit card with a low annual percentage rate. Most credit cards on the market today tend to offer a zero percent annual percentage rate as an intro introductory offer. A business owner might be tempted to jump to one of these cards, but they should first look at the fine print to see what the interest range will be once the introductory period ends.

Many people do not realize just how high their interest rate might be after the no interest rate period expires. This can mean big trouble for a business that carries their balance over each month. Many people find that paying off credit card debt is exceptionally hard if they are being buried by high interest charges each month.

If the business owner plans to pay off the credit card’s balance each month, they might benefit the most from a rewards credit card. These cards tend to have higher interest rates so carrying the balance over each month can really cost the business a lot of money.

After deciding how the credit card balance will be handled each month, the business owner should look at the list of fees associated with the card. Some business credit cards have very high annual fees while others offer no annual fees at all.

If the business will need to make multiple balance transfers or cash advances, it is important to know what these fees are as well. The types of fees usually charge a certain percentage of the amount being transferred or advanced with a minimum fee amount. The credit card might have excellent features, but if it also has the cardholder drowning in unexpected fees, those perks are no longer worth it.

What are the most beneficial types of business credit cards available?

For someone that wants more than just a basic business credit card, they might want to look into rewards business credit cards or cash back business credit cards. Both of these types of cards can benefit a small business in different ways.

These cards work similarly in that they offer the cardholder special rewards for just making regular day-to-day purchases. A rewards credit card lets the cardholder earn special points based on the amount spent on each purchase. When the cardholder has saved up enough of these points, they can exchange them for rewards.

The most common way these rewards are redeemed by businesses is through a frequent flier mile program. This makes it a perfect type of credit card for a business that requires a lot of travel. While the miles are the most popular reward, the cardholder could choose to redeem their points for merchandise or other rewards that will ultimately benefit the business.

A cash back business credit card works much in the same way as any other rewards credit card except that it gives the cardholder cash instead of merchandise. Cardholders can earn a certain percentage of money back, like a refund, on qualifying purchases they make for the business. This is something that can greatly benefit a small business since they tend not to have much cash on hand.

What is the most important thing to consider when choosing a rewards business credit card?

When choosing a rewards business credit card it is very important to find out if there are any limitations on the amount of rewards or cash back the business owner can earn in a given year. It is also good to know if the rewards roll over into the next year or if they just disappear because this will have a big impact on how the card is used.

Use the credit card chaser to compare credit cards today!

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!