Find the best business credit cards

Finding the best business credit cards is crucial to any business owner, whether you run a small, medium, or large enterprise, having a business credit card is essential to making the operations smooth and rewarding. Whether you are looking for a low interest business credit card, or one with travel rewards, we at Credit Sesame can help pair you up with the best options we feature from our card partners. Having a great business credit card will help keep your balances in line, track your expenses better, and even give you more buying power to get your business a competitive advantage. Some issuers even have discount programs from specific merchant categories, which will help you save more. Other bonuses such as enhanced reporting and online tools will also help you keep aspects of your business better organized and managed. Some of the best rewards programs that certain cards offer are cash back, points, and airline miles.

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Why choose a business credit card?
This card can make your life easier as a business owner on many different fronts. It allows for a higher credit limit which will allow you for larger purchases for your business. The payment terms can be created for your business specifically. It also can help in tracking your expenses and keeping your personal expenses separate from business expenses which may help your accounting for tax preparation.
What is a business credit card?
A business credit card is a specific type of credit card that has different regulations and uses than a consumer type. Business cards also usually have higher credit limits, as it is likely that for business purchases you will need to spend more on a monthly basis. If you run a business it is easily the best choice you can make for managing your finances. There are many more factors that considerably better on the business side than on the consumer side when it comes to purchases and using your credit.
What kind of card can I get?
If you are a business owner this is the best card that you can get to make your purchases. It is possible to use a personal credit card that has more rewards or lower interest, but at the end of the day the amount of benefits you have from business credit cards far outweigh those of the personal credit card.
What are the pros & cons?
To start we can discuss some of the downsides of most business credit cards. The rates that you must pay can be raised, almost instantly, when you are paying your balance. The amount of time you have to pay the bills may be reduced. On the upside you have special rewards that don’t apply to consumer cards. Also, the amount and types of rewards you can get are also exclusive to the business cards.

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U.S. Bank FlexPerks® Business Edge™ Travel Rewards Card

Editor’s Note: This offer is expired and is no longer available. The U.S. Bank FlexPerks® Business Edge™ Travel Rewards Card is a business credit card which offers a great way to start your bonus rewards program with a 20,000 bonus FlexPoints after the first $3,500 in net purchases in the first 4 months of account opening. You earn one FlexPoint for every $1 spent in net purchases. There is a $0 intro annual fee in the first year, and $55 per year after that.

Highlights

New account users who make net purchases in the amount of $3,500 in the first four months of opening the account can earn 20,000 bonus FlexPoints. These points can be used towards airfare with over 150 airlines. There are no online redemption fees or blackout dates either. Award travel starts at 20,000 FlexPoints (up to a $400 ticket value).

There is a $0 introductory annual fee during the first year of the account being opened. Every year after that will have a $55 annual fee. Every dollar you spend on net purchases will equal one FlexPoint. You can earn triple FlexPoints if you use the card to make charitable donations to qualified organizations.

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Related Credit Card Options

Prepaid Cards

The prepaid card is a way to start your experience of using a card instead of cash if this is your first time using a card to make payments or if you want to be able to wield a card for online purchases or other locations that only accept credit cards or debit or prepaid cards. With a prepaid card you pay in advance to load your own money onto a prepaid card so you are using your own money and your spending is limited to the amount of money you load onto the card. The prepaid card is not the same as a credit card, you load your own money onto the prepaid card, the issuers do not report your payments to the major credit bureaus so it cannot be used as a tool to help build credit history. Some prepaid cards have activation fees and may even have monthly maintenance fees so be sure to read the terms before you apply.

Secured Credit Cards

Secured credit cards are your best option if you are in need of rebuilding your poor credit score or this is your first time in the credit area and are looking to get started from scratch. The chances of being accepted are relatively high, even with no credit history.

Business Credit Cards

If you run a small, medium, or even large enterprise you will be in need of a business credit card. These cards play by different rules and are really useful for purchasing business related products and services. In return ou will get great rewards and other incentives.

Cash Back Credit Cards

Cash back credit cards are a great way to earn more on your every day purchases while also being able to redeem cash at checkout. Not only will it save you trips to the ATM machine but you will be able to also experience other great perks such as a lower interest rate and annual fee in certain cases.

Low Interest Credit Cards

If you have been paying your balance on time, and you are sitting a good or excellent credit score rating then you are likely eligible for a low interest credit card. These are credit for paying off debt and making expensive purchases as they will allow you more time to pay back the debt.

0 APR Credit Cards

If you are doing a balance transfer or are looking to make expensive purchases then a 0% APR card is the right choice for you. The introductory rate usually lasts anywhere between 6 months to 18 months depending on the issuer and is a great way to buy and save.

Help: Choosing the best business credit card

Business owners are able to obtain credit cards for their business. Credit card issuers, such as banks, offer businesses their own credit cards because they are treated like separate entities. A company that has existed for at least two years will typically be entitled to receive an unsecured credit card. Not only that, but companies have their own credit scores with the three major credit bureaus just like a person does. The initial credit history of a company is usually created when the business owner takes out a business loan to help fund the startup expenses of their company. The loan officer who issues the business loan will typically look at the personal credit history of the business owner because they want to make sure they have a history of being responsible with their own money. That way they can be trusted with the responsibility of managing the money of their own business. However, if you don’t have this credit history and you want to obtain a business credit card right away, then you will need to take out a secured business credit card. This is similar to the personal secured credit card because you will be making an initial security deposit before credit is issued on the card. So if you are a business owner that wants to build up the credit history of your business without taking out a traditional business loan, then the secured business credit card is the best way to start.
Before you apply for business credit cards, ask yourself if you really need them. Chances are if you are just starting the company and don’t have a business loan, you will need the business credit card to pay for equipment, supplies and other startup costs. But make sure you only use the card to pay for business related expenses. They should also be expenses that your business can afford. This means don’t go out and lease a big commercial building if you are running a small business that doesn’t require it. Only pay for what your business truly needs and nothing more. Therefore, watch the credit limits on your business credit card. Don’t put on too much credit that you don’t need because you could end up with huge debt that you will have to pay back if your business goes downhill.
Now there are different types of business credit cards available. There are new business credit cards, business credit cards with rewards, business credit cards without personal guarantee, and other business credit card offers. Each one has something special about them that will benefit business owners in certain situations. For example, if you are the type of business owner that likes to pay off their credit card balance at the end of every month then you should get the rewards business credit card. That way you can accumulate rewards points from all your purchases and use those points to receive cash back, discounts on travel expenses or whatever other deal the issuer has available. Since you will be paying the balance off, you won’t have to worry about any interest charges. You will just receive the benefits of the rewards program. However, if you are making the minimum payment every month then the interest charges will far exceed the benefits of the rewards and will make them pointless to have. So in this case, it would be better to get a business credit card with low interest rates. New business credit cards may have a 0% introductory APR for at least 12 months. After that the variable APR may be between 11.24% and 23.99%.
Always look at the terms of the business credit card before applying for it. You’ll want to make sure you know all the extra fees that are associated with the card. The annual fee is a common fee that is waived, but there are some card issuers that will charge a hefty annual fee from anywhere between $57 and $179. Now if your business requires you to go to foreign countries on a regular basis then you need to understand what the foreign transaction fee on your card is. Some business credit cards won’t charge a foreign transaction fee while others will charge up to 3%. So this will be something you would want to know as an international businessperson. You’ll also want to know if there are any travel rewards or perks on your credit card, such as concierge services, free insurance for rental cars and points towards airfare. This would require a rewards business credit card, so if you travel a lot then these rewards may come in especially handy for you.
Finally, what are the penalties for late payments? You might want to have this question answered if you are a new business owner who doesn’t expect to make any money right away. If you were to start your business with no money available and exhausted credit on your credit card, it will be kind of hard to make the minimum monthly payment on that card if your business is not bringing in any income. Many credit card issuers will impose a penalty APR and late fees if the payments are late. So if you foresee yourself being late with payments then you might want to understand the penalties on the policy first before applying for the card.

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