Small Business Credit Cards

The best credit cards for your small business

For a small-business owner, it can be virtually impossible to keep personal life and business life separate. However, if you decide to use a credit card for your business purchases, you should definitely keep the business separate from the personal. The right small business credit card can actually help your business flourish if you use it responsibly; discover tips on how to get the most out of your card and manage your business debt effectively.

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Advantages of a Small Business Credit Card

Since mixing your personal and business transactions will almost certainly create problems at tax time, successful small business owners use small business credit cards for legitimate business expenses only. If you have trouble keeping everything organized, you can avoid the year-end flurry of receipts with a concise statement summary from your credit card provider. But perhaps the biggest benefit to using a business credit card is the potential to build corporate credit; as your business grows, you may need to apply for loans and lines of credit that can only be secured with a good, solid credit history.

The Best Small Business Credit Cards

Annual fees, interest rates and rewards are the main criteria you should consider when looking into the many options for corporate credit cards. High annual fees can be balanced by useful rewards, but high interest rates can be dangerous for a small business that is just starting out. The best credit card for small business startups will have a cap on interest rate increases, but you will need to decide whether to carry a balance from month to month or use the card simply to transfer balances. If you intend to carry a balance, seek out the lowest annual interest rate; if you don't plan on carrying a balance, find a reward program to suit your needs.

The best small business credit card for you will not only provide the cash that your business needs, it will also improve the management and financial state of your business. The competition between credit card companies results in a number of rewards, from free office supplies to discounts on business travel. First determine your greatest business costs, and then compare credit cards to find a business credit card with rewards that will best cover your expenses.