Getting A Credit Card – The Right Business Credit Card For You
A business credit card is essential for any business. If you have started a business of your own, you should look to establish credit in the name of the business. One way to do that is to apply for a credit card in the name of the business. This will not only enable your business to establish credit, but it will also help when it comes to separating business expenses from personal expenses.
When you are looking for a business credit card, you will see that you have many choices. They include getting a rewards credit card for your business. Many business owners feel that the rewards credit card is right for their business, especially those that offer frequent flyer miles or other perks that are related to business. If you use the business credit card for all of your purchases, you can then get some rewards that can be used for both, business or personal reasons.
Another thing that you should look at when you are shopping for a business credit card is the annual fee. Many business credit cards charge an annual fee to keep the card. In some cases, the annual fee is well worth the low interest rate for the credit card and other perks it may offer. In other cases, the annual fee is not worth the money as you can get a better business credit card that offers you a lower rate and no annual fee. This is why it pays to shop around whenever you are looking for credit cards – both personal and business.
Shopping for a business credit card can be a bit overwhelming, but does not have to be. You can use a site online that will tell you everything that you need to know about credit cards and offer you selections on business credit cards right on the site. The more you learn about the business credit card, the better your choice will be. By using an online site, you can go into the world of the different credit card choices and choose one based upon information that you glean on this site. This can make it easy for you to make such an important choice as to what business credit card you should use.
Be sure to keep your finances separated when you are using credit cards for business and personal reasons and save all of your receipts as well as any business credit card statements. This will help you when it comes time to file your income taxes. Co-mingling of funds is a big no-no when you are in business, so having a business credit card is not only a way for your business to establish credit, but it can also help you avoid any problems with the IRS.
Take a look online at the different credit cards offered by various companies and choose the perfect credit card that is right for your business. Be sure to use your business credit card for business purposes only and save receipts and statements.
Question about business shopping
How can I start my own personal shopping business?- Business
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18 Responses
It is possible to apply for a business credit card even if you have a poor credit. You must expect then that your initial business credit limits are smaller, with a much higher interest rate.
It is easier to build business credit when you have a good credit. I would suggest to fix your personal credit first by paying your bills on time. Check 3 major bureaus, write dispute letter if there is any mistakes about your record. Later on, if you always pay on time, they'll raise your credit limit and it is easier for you to apply for a business credit.
Well made video. The English are great.
Business credit cards come with a variety of reward options. Travel rewards, stay in hotel, cashback, savings on courier services etc. are some of them. The type of your business and services you require can be compared with various business credit card offers and the most suitable credit card can be applied for.
More money when you need it most
Business credit cards are specially designed to cater to large funding requirements of businesses. The credit limits on business credit cards are higher than normal credit cards. So, you are doubly sure to get that large expense properly handled without any anxiety.
Easy application process
If you have an established business, business credit cards are very easy to get. Small businesses or fresh startups need not worry here, because credit card companies are equally eager to give business credit cards to companies with good prospects and to those who show promise. So, even if you are just starting, you can get a business credit card.
Expert business help
Business credit card issuing companies have established a good online help archive with expert advice on how to run your business in a more productive way and to achieve the maximum. If you have any kind of problem it is very easy to tap into this knowledge pool and help yourself. Check out a list of popular business credit at: http://www.credit-card-gallery.com/Business_Card.html and apply online according to your choice.
very good
good man – great advice
I recently went to a seminar, and there was a credit repair speaker, who said that some companies don't report on a business credit card, so it's better to get one for yourself.
One thing I know is that you should try to use only half of what your limit is, otherwise it'll hurt your score if you go past half the limit.
very informative.. thumbs up!
What a great video! Great presenting! Thank-you very much for sharing that. I feel my views are similar to yours when it comes to this kind of stuff. Feel free to drop by and post a comment on my YouTube as well I am new here and could use a little help!
First of all you can lend me like $800.00 and you'll be okay. But your credit limit depends on you credit. If you use American Express that darn Charge card, then you are going to get something like No credit limit which looks bad on your credit score. So You might wonna go with so mething that is around $20,000. If any thing goes wrong and you are suddenly out of work or you have to shut your business then you that that thirty that you are saving and stick it on the credit card balance. Remember you won't go over tweny. You will need to provide work history, SSN, and amount you have in savings. If you have a checking account then that will also be helpful.
annual business amount of what? If you have a credit card that you use for business expenses, then the business expenses are deductible as business expenses. You could also have a personal credit card that you use for business purposes as well, and the business expenses would still be deductible expenses.
many thanks
I found your video to be very useful and entertaining.
It's all tied to your social security number. Business doesn't matter.
Before you do ANYTHING listen to this. Scroll down and click "Listen to Dave". JUST LISTEN.
http://www.daveramsey.com/tdrs/index.cfm/2007/9/17/Getting-rich
This one audio clip of his CHANGED MY LIFE when I heard it.
Listen to this man for free, on the radio or online. This is like getting financial wisdom from Bill Gates except this guy has a national radio show.
yes, you can get a small business credit card, your personal credit score wont be required and your business information would be require, just apply online and try here:
Advanta Bank
Advanta Platinum BusinessCard with Unlimited Rewards
Citibank
CitiBusiness Card® with ThankYou Network®
Advanta Bank
Life-of-Balance Platinum Card
Discover® Card
Discover® Business Cashback Card
I googled business credit cards for ya and sites like Findbizcards etc don't have anything in terms of business credit. You're going to find that since this economy is in the crapper, banks are less than willing to lend to a business, even if it's successful.
Actually, it's a short story. No one else wants to stick their neck out (co-signing) to cover your debts after you have shown little ability to handle your own affairs. They will be 100% financially responsible if you default on your debts and they know it. Operating a business is like operating your own financial affairs on steriods.
Who in their right mind would start a business on credit card with up to 32% anual interest? That is a very large nut to crack on top of paying for employees,your wages, materials, rent,phone and lights…. then look for making a profit too???
Tell me what kind of business you are going into that has a 32% profit after all expenses and I will start one in a heartbeat (as long as it is legal to do so)
Maybe you had better sit down and work out a business financial plan… then work towards fulfilling it and obtaining the capital you need by working and saving the start-up funds… then someone might be willing to listen to your business idea. If you don't believe in yourself then others will not believe any differently. There is no shortcut to success. Those who cut corners are the first to fail.
Response to additional details:
The most probable way you will get a card is with that much money in their account. Your credit limit will match the amount of money in the savings account held by the credit card company. That way you can start building up a history of purchases and paying the bill on time. You have to re-establish a history of being reliable. After a couple of years of a spotless record, you may find someone who is willing to issue you limited credit and further build from that. I know you are looking for a fast way to do this…. sorry probably not going to happen.
I am not trying to beat up on you… I am trying to show you how others (creditors and co-signers) will look at this. Even if you have lost your job,any work is better than none… even fliping burgers. 10 G's is not an undoable amount but it might take you 1 year to get there working minimum wage. Hopefull you will do the numbers and see that if you are holding 10Grand worth of debt on a credit card, your whole business profit will go to support the debt and you are working for nothing.
If you were an engineer then you are used to solving problems with a systems approach and a thorough evaluation. It doesn't sound like you are using your formal education on this new problem. Please write up a plan and look at all the issues systematically. Form a feasable plan and go after your dreams.
Hope that helps
Wow now that video was very informative…Thanks
Chad
backlinksolutions . com
Excellent ! Thank-You!