Credit Cards for Small Business Owners
Contributed by Rachel s Pickett
Credit Cards for Small Business Owners
There are a multitude of credit cards that a small business owner could choose. But making the right choice of credit could mean the difference between success and failure. Many small business owners unknowingly make the mistake of using their credit for business credit. Doing this could be a costly mistake. There are credit cards that were specifically created for businesses. Before you apply for a business credit card it is important to have established credit personally.
At first this can all be challenging and confusing. Building good business credit important to the success of your small business. Getting a business credit card will also help you secure business sized credit limits.
What are Business Credit Cards?
Business credit cards are credit cards that are specifically intended for business use. Several companies that offer business credit cards are Lending Tree, American Express, Visa, Mastercard, and MBNA. There are a lot of good choices out there for building good business credit.
These cards most often do carry an annual fee but, for most of these cards the annual fee is waived for the first six months through the twelfth month. Usually the annual fee for a business credit card is about $75.
Business credit cards also allow you to get business sized credit limits. Most business credit cards carry a limit of $50,000 and greater. You can obtain limits under $50,000. Like personal credit cards, business credit cards also offer rewards programs. Some companies offer rewards points earned for purchases and travel. American Express, for example, offers free companion travel with their business credit card. Some of these business credit cards offer rewards for making certain business purchases with your credit card. You can earn rewards just for making purchases!
