The Basics of Using Credit Cards to Fund Your New Business

If you travel for business and prefer Marriott, this is the card you’ve been looking for. Yes, there are a number of ways a business credit card can affect your personal credit.

This new service could help business owners streamline their operations by sharing data across apps. It also allows for customization of Stripe for enhanced functionality in cloud-based file sharing, email marketing, e-signatures, and many other processes that are core to business operations. E-commerce is booming, and small businesses will business credit card increasingly need to accept different forms of payment. Paysafe stands out in that regard, making it our best pick for digital tools. Following proper security protocols can help protect small business owners from liability. We like that Paysafe’s out-of-the-box and customizable checkout platforms emphasize security breach protection.

More information on business credit cards

Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Benilyn Formoso-Suralta is a staff writer at Fit Small Business focusing on finance, accounting, and Small Business Loans. She brings with her 12 years of experience as a banking officer with the Bank of the Philippine Islands with expertise in consumer banking, real estate sales, and foreign exchanges. Bank Business Triple Cash Rewards World Elite™ Mastercard® the card that gives back on all your eligible business needs. Your EIN — your employer identification number — is the nine-digit number assigned to your business by the IRS. If you’re operating as a sole proprietor and don’t have an EIN yet, you may use your Social Security number.

If you apply for a credit card, the lender may use a different credit score when considering your application for credit. EDITORIAL DISCLOSURE All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review.

Flat-rate cash back

Divvy and Brex 30 are the best business credit cards for startups and new businesses because of their high accessibility and advantageous reward-based structure. This means that Divvy’s credit card membership offers a much more wide-range of features in comparison to other business credit cards in our review – a lot of which make it an ideal card to build business credit. For business owners who want to earn rewards without worrying about expensive fees, the American Express Blue Business Cash™ Card is a great option.

Your options also include secured business credit cards and personal credit cards. When choosing the best business credit cards for startups, we prioritized cards with no annual fees to help startup owners minimize their credit costs. We also considered the overall value of these cards, their requirements, and the various features that startup owners may need—such as rewards, spend categories, introductory bonuses, and introductory APRs.

Bankrate’s Picks for the Best Business Credit Cards (February :

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• For everyday business spending, a company could benefit from a straightforward cashback rewards card to make regular business purchases without worrying about juggling bonus categories.
• Plus, the regular interest rate is quite low, particularly if your APR is set at the lower end of the 13.74% to 23.74% variable range.
• You can turn to a secured credit card, but these don’t give you immediate access to cash flow that can help your business grow.
• Earn unlimited 1.5% cash back on all purchases everywhere, every time.
• That said, if the card is right for you, it can be easy to get far more value from the card than what you pay for the annual fee.
• These fees aren’t clearly specified in most cards’ promotional materials (unless it’s a travel card), so you’ll have to look for the cards’ terms and agreements to make sure.
• Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser.

Remember to find one that’s easy to access, provides rewards, and doesn’t have high costs or hidden fees. The provider offers two business credit cards to its users, one that is paid on a daily basis, and one that is paid on a monthly basis. Most business credit cards require a personal guarantee, which is an agreement that you are responsible for any debt that you accumulate on the card. However, there are credit cards — usually corporate cards — that don’t require a personal guarantee.

Ink Business Cash Credit Card: Best for office supplies

Wells Fargo reserves the right to cancel, alter, or temporarily suspend the Program at any time without notice. See the Wells Fargo Business Rewards Program Terms and Conditions for details. Some processors have a monthly minimum, which means you’re required to process enough sales each month to generate a certain dollar amount in processing fees. If you rarely accept credit cards, you don’t yet know how much you’ll process each month or you have a seasonal business, you shouldn’t work with a processor that charges this fee. Helcim is an option for businesses that process more than $5,000 per month and want better rates than what flat-rate plans offer. We selected Helcim because it provides interchange-plus pricing to all of its merchants and posts its complete rates and fees on its website, so you know exactly how much you’ll pay.

However, credit score alone does not guarantee or imply approval for any credit card, financing, or service offer. You can only spend up to your credit limit on a credit card, and having a clear idea of this limit is useful.