Looking for the best business credit cards? You're not alone. Millions
of business owners want to carry the best cards, but don't know where
to look or how to find them. Fortunately, there are a few pointers that
can get you on the right track. When looking for the best credit cards
for your business, keep a lookout for these three things that all great
business credit cards have in common.
1. A Low APR
Don't ever sign up for a card with an interest rate of 20 percent or
more, no matter how pretty the perks may be. A low interest rate can
save you quite a pretty penny if you're in a pinch and you find that
you can't pay your entire balance off in full one month.
Even if you never plan on carrying a balance, you need a credit card
with a somewhat-decent APR. Emergencies come up and there's no way to
predict the future. You may find yourself carrying a balance, even if
it's only for a couple of months. That's why the best business credit
cards have a low interest rate, regardless of what rewards are offered.
2. Business-Related Perks
Not all rewards cards are created equal, and the best business credit
cards understand this. Sure, rewards that can be redeemed for video
rentals and movie tickets are nice -- for personal credit cards.
Make sure your business credit card features rewards that benefit your
business, not your personal life. Free office supplies or business
travel may come in handy when you need it most.
3. Detailed Statements and Online Banking
The best business credit cards offer detailed line-item statements and
online banking. Okay, technically these are two different things but
they are related to one another. Not only will you be able to tell what
types of purchases were made with your cards and where they were made,
you'll be able to access the information online each and every day.
There's something to be said for having daily access to updated credit
card activity -- especially if employees have access to your business
credit cards. And online bill payment can make it easier to get those
statements paid on time!
Remember, not all credit cards are created equal and business credit
cards are no different. If you want to make sure you have the best
business credit cards in your wallet, remember the above three tips.
Posted at 09:45 pm by mike2k8