Getting to Know the Small Business Credit Card Options
Contributed by Melanie Vannuys
MasterCard Small Business Credit Card
Nearly every credit card company today offers a small business credit card. MasterCard is no different. With the MasterCard Small Business MultiCard, you can consolidate all of your purchases, travel and expenses and fleet spending into one place. The MultiCard also allows you to set employee specific spending controls, purchase amounts, number of transactions, types of suppliers in any combination. It also allows the primary card holder to change purchasing authorization quickly if employees change.
As for your spending data, the MasterCard Small Business MultiCard lets you better manage your purchasing data and incorporate it into your existing accounting software package.
If you use your MasterCard MultiCard to rent vehicles for customers or employees, the insurance will pay up to $50,000 loss coverage on the rented vehicle in case of an accident.
Purchased items that are damaged or stolen within 90 days of the original purchase are completely covered.
Wells Fargo Small Business Credit Card
It's easy to establish or rebuild your business credit with a Wells Fargo Small Business Secured Credit Card.
Depending on the deposit you make, your credit line could be as much as $100,000 and you'll earn 2.5% interest on the deposit you make during the first year - after that you'll make 0.5%. You can use your Wells Fargo Business card for all of your business expenses and can have up to five cards for your employees.
With Wells Fargo, you are offered most of the same benefits of the MasterCard MultiCard, in addition to the optional BusinessMiles reward plan and you are always 100% protected against unauthorized transactions.
