subject: Business Credit Card Comparison [print this page] When you are ready to acquire a business card to establish your business credit or to expand your credit profile, you need to make a list of all the credit cards out there. Creating a business credit card comparison will help you find the best credit card for your business needs and it will allow you to find the best interest rate and perks like skymiles, discounts, and points.
We have put together a guide on how you can do a business comparison and find the best card for you and your business:
APR. When you are looking for a business credit card, always look at the APR. This can hurt your corporate credit rating if it is too high as you will struggle to meet the monthly payment demands. If more than 30% of your total monthly payment is headed straight to interest, it can take years to pay off the balance. Look for a card with a low APR.
Rewards. The other thing to compare with other cards and the rewards they offer. Do you plan on doing a lot of traveling? If you are traveling a lot, you need a business credit card that provides you with hotel discounts, rental car discounts, and air fare rewards. Rewards are a huge perk and they are one of the main reasons why you should transfer a balance to a new credit card company if you are using the card a lot.
Annual fees. It is common for cards to have annual fees. While you may not like this, you need to seek out a credit card that only has a yearly annual fee versus a semi-yearly fee. You also need to look for one that is a low fee amount. Some of the business credit card will base your fee on your credit usage.
Users. How many people at the company need access to a card? Can you add multiple users to this card ? Make sure you work with the lender to provide you with as many users as you need in order to keep your business running properly.
Shop around to find the best cards. While you may like AMEX, they often charge higher fees from Visa and Mastercard. Seek out a credit card that suits your business needs and make sure you practice financial control with the card so it can help to improve your business credit rating.
