What Is a Business Credit Card and How Does it Work?

You earn the same flat rate of rewards on all purchases – no need to keep track of bonus categories. Depending on the size of your team, getting cards for employees to use may make sense.

However, to gain that access, it’s critical to build your company’s business credit so you can manage cash flow and access funding better when you need it without affecting your personal credit. Purchase protection.With most cards, you have the ability to dispute any improper charges on the account and to avoid making payment until the dispute is resolved. Many credit cards offer some form of purchase protection in the event goods you purchase are lost, stolen, or not delivered. One fundamental way a business credit card differs from a personal card is that you get to build your business credit profile by using the former. Once you build a strong business credit history, you get access to more favorable borrowing terms when your business needs access to capital in the future. You can carry a business credit card debt from month to month as long as you pay the minimum repayments according to your agreement with the issuer. On the other hand, Cape’s business charge cards require full payment within 30 days of transacting.

Divvy Business Card

Direct Deposit Send funds directly to your account to ensure seamless deposits while you’re deployed or traveling. The Ultimate business credit card Certificate Strategy Laddering your certificates is an excellent way to ensure you earn the best rates possible.

• Using an updated version will help protect your accounts and provide a better experience.
• If there’s no one card that answers all of your needs, you may find it beneficial to have multiple cards.
• During his time in Harrisonburg he worked extensively with The Breeze, JMU’s student-run newspaper.
• From payment processing to foreign exchange, Chase Business Banking has solutions and services that work for you.
• Earn unlimited 1.5% cash back on all purchases everywhere, every time.

Other factors, such as our proprietary website’s rules and the likelihood of applicants’ credit approval also impact how and where products appear on the site. Jeanine Skowronski is a credit card expert, analyst, and multimedia journalist with over 10 years of experience covering business and personal finance. She has previously served as the Head of Content at Policygenius, Executive Editor of Credit.com, Deputy Editor at American Banker, Staff Reporter at TheStreet and a columnist for Inc. That’ll make it much easier to complete your taxes each year and regularly reconcile your books, especially since some issuers provide a breakdown of the categories you’re spending on.

Best for long intro APR period on purchases: The Blue Business® Plus Credit Card from American Express

This hassle-free flat rate card lets business owners earn 1.5% cash back on every eligible purchase. That can really add up throughout the year, and it’s especially valuable considering this card charges no annual fee.

• However, the financial benefits of positive credit are worth it.
• When it comes to business credit cards, there aren’t as many 0% intro APR offers on balance transfers as there are with consumer cards.
• Your principle balance is credited as soon as the payment clears .
• It comes down to what makes the most sense for your business.
• Take the first step in building your business credit by learning more about Capital One Spark Business cards to see if any are right for you.
• Bankrate.com does not include all companies or all available products.

You can earn a whopping 5% cash back on office supply store purchases and internet, cable and phone services, on up to $25,000 in combined purchases per year. If you can’t repay the balance, you’ll be charged interest and may incur other fees, thereby increasing your debt. During months when you don’t have cash on hand to pay invoices or unexpected expenses crop up, business cards can be a helpful way to cover those costs. However, it’s important to not treat a credit card like free money or a way to spend more money than you have or expect to come in.

Last four digits of your Social Security number

Once you withdraw funds from your business LOC, interest starts to add up from the day of the transaction. Cape acknowledges the deep connections of Aboriginal and Torres Strait Islander communities to Country. We pay our respects to the Traditional Owners of the lands of our team and customers across Australia. We recognise the continuing contributions of indigenous communities in Australia and around the world.