![]() Regulations: Business credit cards are exempt from regulations personal credit cards offer, meaning they can change the interest rate and levy harsher consequences for late payments.Virtual cards: An option for setting up virtual cards is best for businesses who make frequent online or subscription purchases.Multiple cards or accounts: Do you need cards for several members of your team? Will they need separate accounts? Are there fees or rewards associated with multiple cards? (Divvy allows you to give everyone a company card -for free.).$1,000 back when you spend $5,000 in the first 3 months). Welcome bonus: Some cards offer a signup bonus for opening a new account, or a bonus after spending a certain amount within an introductory window (e.g.Travel points: Look for cards that give you travel rewards such as miles and points for transportation, restaurants, hotels, rentals, and other travel expenses.Instead you can get a secured business card (which is “secured” by an upfront deposit) or a charge card which functions like a credit card but features lower limits and must be paid in full every month. Credit card types: If you have poor credit you may not be able to get a traditional business card.Foreign transaction fee: Are international transactions free or charged the standard 3% fee?.A small business around a hundred people might be looking for a small business credit card that provides employee cards to facilitate growth. Business size: A business of ten or fewer people might look for a small business card that cuts intro APR or useful tools like analytics when you’re running a spartan crew.Introductory 0% APR: Low or 0% no-interest introductory rates are great for making lots of up-front purchases that you won’t be able to pay off right away. ![]() ![]() Rather than jumping in headfirst, you can begin with your business lifestyle and general needs to help you narrow the scope of your research.Ĭonsider the different benefits of a business credit card: Take some time to understand exactly what sets business credit cards apart. 70% of Americans use at least one credit card, but many individuals don’t understand the fundamental distinctions of a business credit card. There are so many options for business credit cards out there-it’s easy to get overwhelmed.
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