Corporate Credit Cards
The best business credit cards
In the modern era of computers and plastic payment, credit cards are more than useful tools; they are often necessary for important transactions, both in person and online. A credit card for business is similar to a personal credit card: in each case, you are provided with a certain amount of funds to use, and you will be required to make at least a minimum payment at the end of each month. However, a corporate business credit card is to be used only for business purchases, and the interest rate, payment plan and rewards offered can differ considerably from a personal credit card plan.
Types of Corporate Credit Cards
The intention of all corporate credit cards is to make it easier to purchase goods and services for your business, but each card will simplify your business operation differently. Corporate cards fall into two main categories – secured and unsecured. A secured credit card will offer your business assets as collateral in case you should be unable to make your payments, and would be the best choice for those without a credit history or with imperfect credit. An unsecured card is issued without collateral, and is a great option for established businesses with good credit history and proven financial success.
Business credit card service brings some impressive rewards, and the best credit card for business will help to cover your expenses. For instance, if the nature of your company's work demands that you travel frequently, small business credit cards that offer flight rebates will be the most helpful. On the other hand, the best business credit card for a fairly new business would likely offer a low interest rate so that you will be able to focus your money where you need it without falling too far into debt. A card that offers cash back on your purchases can be helpful for anything from an online to a home based business.
Apply for a Business Credit Card
Terms, interest and rewards will vary significantly from card to card; before you apply for a business credit card, compare a variety of cards to get the best deal. Once you have found the card to best serve your business, the application process will begin with a thorough assessment of your business. Construct a professional business plan that will relate your financial history, assess your current financial situation and provide an insightful argument in favor of more business credit. Seek the advice of a business consultant if you need help refining your presentation.