Credit Cards for New Small Business – Look Before You DecideSmall Business Credit Cards Sunday, January 23rd, 2011
If you are looking for credit cards for new small business, you bet you’re not alone. A lot of people want and need credit card for a new small business because of the benefits that come with them.
A small business credit card can be used by to:
1. Fund day-to-day business operations and an entrepreneur’s home expenses too!
2. Pay for purchasing office supplies.
3. Use as a fallback mechanism in cash crunch scenarios.
However, it is not always easy to find out the best amongst the huge list of small business credit cards on offer. Most credit card companies try to attract businesses with different features like discounts on services and office supplies, rewards, free memberships to clubs, travel services etc. As a small business owner you should be looking for features that you are going to use and value most in long run.
Credit Cards for New Small Business – Things to look for
1. Annual Percentage Rate – First and foremost consideration for choosing a credit card should be the amount of interest that you will be effectively paying.
2. Annual Fee – Some credit cards warrant an annual fee. While you can easily get a credit without an annual fee, sometimes it is good to look for features that come with an annual fee.
3. Fraud Protection – Credit cards are vulnerable to fraudulent use. Look for the protection that the card offers and your liability in case of unauthorized use of card.
4. Purchase Security – Since a business credit card is often used to buy small fixed assets for office, don’t forget to check if your purchases are covered for theft or damage by the credit card.
5. Card Replacement – Check for the time it takes for getting a new card in case of theft or loss of card.
6. Emergency Funds – Find out if there is a way to get emergency cash, if needed, in case the card is lost or stolen.
7. Discounts – Credit card companies tie up with local retailers and service providers for special discounts. See if the places that you often purchase from are covered by the credit card.
8. Rewards – Same as discounts, look for the rewards that the card offers for making purchases.
9. Travel Services – Small business credit cards are often used to but travel tickets and during travel. Does the credit card provide travel insurance and emergency services while traveling?
10. Bills and Tax Payment – Check if you can pay your utility bills and federal and state taxes using the small business credit card.
Below are some of the credit cards for new small business that you can choose from:
American Express Small Business Credit Cards
- SimplyCash® Business Card from American Express OPEN
- Blue for Business from American Express
- TrueEarnings Business from Costco from American Express
- Starwood Preferred Guest® Business Credit Card from American Express OPEN
- Platinum Delta SkyMiles Business from American Express
Visa Small Business Credit Cards
- Visa Business Credit Card
- Visa Signature Business Card
- Visa Business Line of Credit
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