Business Credit Card Reviews


Benefits of Using a Business Credit Card Machines

Accepting credit card payment from customers is definitely a big advantage for business. Here are the following tips on how to choose the right business credit card processing machine for your company.

When times are tough, many people use their credit cards to make important purchases as it gives them the option to take the item now and pay for it later. For business owner, accepting credit card payment from customers is definitely a big advantage.

Needless to say, in order to accept credit card payments, you will need to use a business credit card machine to start processing each transaction. How can you choose the right business credit card processing machine for your company? Check out the following tips:

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Use Your Small Business Credit Card to Effectively Manage the Business

Entrepreneurs today are encouraged to use credit cards as tools to manage their businesses more effectively. If you are a business owner, have you considered applying for your own small business credit card as well? What are the advantages of using credit cards for business? Consider the following benefits:

Separate business from personal expenses. Why is it important to separate your business expenses from your personal finances? For a new business, it may not seem like a big deal if you are combining these two finances together. However, as the business expands and more expenses are incurred, you will see how important it is to have a separate business account.

Making financial decisions would prove to be very difficult and confusing if there is no clear boundary between your business and personal finances. In addition, filing your taxes would mean more work since it would be harder to distinguish which of your expenses officially qualify for tax deduction and which ones do not.

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The Drawbacks of Contractors’ Business Credit Cards

Credit card companies know the potential of business credit card clients. This is why they come up with more specific and better features that are especially created to meet different types of businesses. For instance, the group small constructors and construction companies is a niche market with great potential.

To attract contractors and business construction owners, credit card companies offer specific features that are designed to meet their spending style and needs. According to recent surveys in the credit card industry, most businesses spend only less than 5% on their business credit cards. Thus, credit card issuers are currently introducing offers to entice business credit card holders to use their cards more often.

One example is the Chase Contractor Visa Business credit card. This card offers promotional financial and a attractive reward package for those who will spend at least $1,000 or more on their construction material purchases. This card also doesn’t have a pre-determined spending limit so its holders can use it for as much purchases as they need.

If you’re a contractor or is in the construction business, taking a look at business credit cards for contractors are definitely worth considering. Nevertheless, here are the possible drawbacks that you should be aware of.

Possible Drawbacks of Contractors’ Credit Cards

It’s important to remember that each business credit card has its own set of rules and conditions that you need to know. The same thing applies to business credit cards with rewards programs for contractors. If you’re not clear about the rules, you may find yourself stuck with a card that doesn’t reward you at all.

What types of purchases are eligible to earn you points? You need to be very sure about the exact type of purchases or from which merchants you should purchase from in order to earn points. Otherwise, you could be using your business credit card in the wrong way. Even if you charge your purchases to your credit card, if those purchases do not count, you won’t be earning points at all.

Is there a limit to the amount or value of reward points your can earn? Some credit cards would only allow you to earn a maximum number of points each month. The Chase Contractor Visa Business credit card has a limit of 20,000 points per month which means you can’t exceed the 20,000 points even if you made more than $20,000 worth of purchases for the whole month.

Does the card impose a pre-determined limit on spending? In case you exceed your credit limit, would this mean you’re disqualified to earn points? Or would you be allowed to earn points for the amount that falls below your credit limit? Is there a penalty fee for exceeding your credit limit?

These are important terms and conditions that you should be clear about before signing up for a contractor’s business credit card. To learn about the exact terms and conditions, you need to take the time to read the contract before filling-out and submitting your credit card application.

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Choosing the Right Credit Card for Your Small Business

Applying for a business credit card is a serious task since choosing the wrong one could mean trouble for you and your business. What important pointers should you remember when looking for a business credit card? How can you be sure that the credit card matches the needs and spending style of your business? This article provides practical advices to help you make the right choice.

Understand how the Interest Rates and Costs are calculated. First of all, it is crucial that you understand how the rates and fees of your business credit card are calculated. How much APR applies to your purchases, balance transfers and cash advances? Some cards have more than one APR so you need to be clear about it. How much is the annual fee, late penalty fee, transaction fees, and other charges? Don’t be content with what the ads tell you. Instead, take the time to study the Terms and Conditions of your credit card. Examining the contract would enable you to compare business credit cards more accurately.

Pay attention to the features of the business credit card. Certain features may not be available in some business credit cards. For instance, not all credit cards for business provide an online account access. This feature is very important so you can regularly monitor your account without hassle. Do you need to distribute supplementary cards to your employees? Some credit cards provide this feature for free while others don’t. There are also business credit cards that give you the option to send check payments using your account. This is recommended if most of the suppliers you purchase from do not accept credit card payment. Consider the specific services that are provided by the credit card and choose the one that best matches your business.

Read reviews and get feedbacks from other business owners. What do other business owners say about that particular small business credit card? Check out credit card review websites and take the time to personally interview your fellow business owners. If your business belongs to an organization, why not ask your co-members for feedbacks or recommendations?

Check your personal credit report. If you’re a new business owner who have not yet established a corporate credit, the approval of your business credit card application would be based upon the status of personal credit. Business credit cards with the best deals would require good to excellent credit. Therefore, in order to qualify, you should make sure that your personal credit history is in good standing. If not, take the necessary steps to improve your credit and raise your score before submitting your business credit card application.

Consider small business credit cards with rewards. If you’re certain that you can pay off your monthly balances in full, consider applying for a small business credit card with rewards. Reward credit cards may come with higher APR but if you completely pay off your balance on time, you won’t have to pay the additional interest. A reward business credit card gives you the opportunity to enjoy savings, bonuses and special privileges that are exclusively offered to small business entrepreneurs like you.

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Capital One Business Credit Card: Reliable Partner for Your Business

Posted in Uncategorized by businesscreditcardsite on September 22, 2008
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Starting off a business firm can be a challenging endeavor for aspiring proprietors. In order to achieve the goals for the success of the business it requires more than just the financial stability but clear goals and well planned organizational foundation. A business needs more than a big start up capital; it requires a dedicated business proprietor who never gets tired of giving out a piece of him or her in the business

All your endeavors will yield a success or a failure. The usual scenario that business owners experience is less sleeping hours and more busy hours for usual business owners for the first few months after you have launched your business. In addition to the success of the company, business owners require keen sense in choosing business partners along their way. A business credit card is one of the most reliable partners for your business endeavors.

Capital One Business Credit Card – A Dependable Partner

This business credit card will keep your business expenses and personal expenses well covered. You do not have to worry about mixing up your expenses at home and with your business expenditures. Capital One business credit card is the answer for organizing your business transaction needs. This Business Credit Card is best for business owners who are just starting with operations of their very own firms. These business proprietors can avail of the rewards and perks which come along with the competitive interest rates this business credit card can offer.

This business credit card is highly recommended for those businesses which have the ability to maintain a credible credit line. Capital one business credit card is intended to go well with business owners who adore comfort and luxury.

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Business and Corporate Credit Cards

by: Noreen Ruth

Credit card companies have developed a variety of cards with businesses in mind with lines of credit starting at $50,000 or more. To help you understand the different options and to help you avoid the confusion of terms and details, we provide some helpful information.

Small Business Credit Cards

Credit cards for small businesses are offered to the general population through advertisements on the Internet or as pre-approved invitations you receive in the mail. These offers are more ‘what you see is what you get.’ Granted, you can shop around for the business card offer that best meets your needs but there is little customization offered. The owner’s name is found on the front of the card.

The responsibility for paying the credit card debt for small business credit cards lies with the business owner. If the account is defaulted on, the negative results will impact the personal credit history of the owner.

Corporate Credit Cards

On the other hand, corporate credit cards are not as readily available through the mass media. These cards are targeted to a specific group, organization, or corporation and can be highly customized. The reason for this increased flexibility comes down to revenue. With the potential of millions of dollars in transactions, corporate card holders are given much more say in how their accounts are set up.

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Related Article:
Grow Your Small Business by Establishing Corporate Credit

Small Business Credit Card Management – the effective way

Proper usage and management of small business credit cards will lead you and your business to maximize the great benefits it offers. Discover and learn from this article.

Small business credit card is a good way of building your business credit. Proper management of the small business credit card will turn to an effective business tool to help small business owners grow their businesses. It also strengthen your credit standing, thus it is very useful for additional financing for growth or expansion purposes. Misuse of your business credit card has the potential to destroy your business and dreams. Follow these small business credit card tips to effectively manage your credit.

Avoid missed or late payments
Be responsible for your monthly business credit card payments. Failure to comply the payments can leaves you vulnerable to higher interest, costly fees and a blemish on your credit record.

Use Grace
Small business credit cards offer a 21-day grace period before you have to make payment on your purchases. Improve your cash flow using a credit card instead of checks and also, by maximizing your grace.

Pay your bill online
Paying online through business credit card companies website can saves time and avoid the extra costs normally incurred when making use of other modes of payment. It is a secured website and they ensure that your payments will not be subject to delays.

Limit Card Hopping
Truly when signing to multiple business credit cards gives you advantages on deals but it has a negative impact on your credit rating and managing you accounts can be difficult.

Apply at Home
Always consider applying for your small business credit card at your existing financial institution. This way, you can establish good relationship for the easy approval for other process.

No Cash Advance
Always keep in mind that by not using cash advance feature on your card can reduce credit card fees and interest costs.

Check out our Business Credit Card Comparison: Business Credit Card Online

Building Credit for Business?

Financial is one of the important parts of the business. Whether it is a start-up business or an established business, business credit cards can be an aid in building business credit. As your business grows, you will need a helping hand to manage your business expenses and income. Using a business credit card separates your personal accounts from your business accounts. Most importantly, using business credit cards is the quickest and easiest way to obtain credit.

Why Business Credit Cards?

Here are some of the benefits why you should apply for a business credit card.

Interest-free credit. Using business credit cards, your business can take advantage of interest-free credit for a limited period.

Separation of expenses. For business, handling expenses is a difficult task. For example, how many times you’ve had to pay for a business dinner on your personal credit card if you need evidence of that.

Expense managed report. With this, it allows you to get periodic reports of any section your business expenses. In this case, your accounting department no longer has to manually account for all your business expenses as the card comes with itemized monthly statements.

Staff cardholders. Your staff can have each business credit card, so that they can meet their business expenses without having to pay for them personally.

Online payments. You can pay quickly and easily all your business expenses online. In this way, it helps save your accounting team plenty of time and effort.

Insurance. With the use of business credit cards to pay for any business travel expenses of your staff members, they should not only get free travel insurance but also any other travel benefits that are associated with the card. In this way, it saves your business the expense of having to pay for the insurance separately.

Higher credit line. Some credit card companies are willing to give business credit cardholders a higher level of credit than individuals. This should mean that your business never needs worry about how to pay for entertainment, stationary or travel expenses again.

Rewards. Avail rewards packages with the use of your business rewards credit card e.g. air miles, cash back, etc.

Hotels. As a member of a business card program you may find that the card issuer has a special relationship with a hotel that gives you preferential bookings at hotels close to where you need to be – so no more long travel journeys from hotels to meetings.

Billing. With business credit cards billing, you may have an option whether to pay the entire balance each month or carryover a balance to the next statement period, as suits your business needs, much the same way individual credit cards do.

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