Business Credit Cards: Which One is Right for Your Business

With all of the credit card companies competing for your business accounts, it can be hard to determine which one is right for your business. As with any other credit card, you will want the most benefits and a low interest rate, especially if you plan on carrying a balance.

You must first decide what your objectives are for your business credit cards. Will you be making large purchases for supplies that you cannot pay back within the month? Then you will need a card that offers a low interest rate. American Express is currently offering a Platinum Business Credit Card with a low interest rate for businesses who plan on carrying a revolving balance. For those who have good enough credit to qualify for this business credit card, you will get a 0% introductory rate on purchases for the first twelve months, and a low 4.99% introductory rate for balance transfers for the life of the loan, provided you transfer your balances within 45 days of opening the account. This can help you to make a big purchase and completely pay it off within the first twelve months with no interest at all.

If you are simply going to use your business credit cards to make purchases easier to track and will be paying off your monthly balance, you will want to find a card that offers business rewards for purchases. American Express offers two different options depending upon the type of rewards that you would like to have. The Business Gold Rewards Card and the Business Green Rewards Card may be the perfect card for your business, be sure to compare the two in order to decide which one is right for your business, as these are both considered to be charge cards and must have the balance paid in full each month.

If you currently have many business credit cards and would like to consolidate them into one low interest card, the Advanta Platinum BusinessCard with Rewards is one option for you to consider. This card offers fifteen full months with 0% APR for balance transfers with a fixed rate of 7.99% after the introductory period. Purchases made to this card will be charged with a 7.99% variable rate. Advanta gives you the choice of 5% cash back on purchases or you may choose to enroll in their Travel Rewards.

Business owners no longer have to settle with credit cards that do not meet the needs of your business. Many options are available in today's market and should be carefully considered before deciding which card is right for you.

You may compare credit cards side by side on creditcards8.com to find the one that meets your needs. Credit cards can be compared here by introductory rates, regular interest rates, annual fees, rewards programs, and by a user review. You may also search for credit cards by issuer if you have a certain one in mind. For even added convenience, you may apply online for the business credit card that works best for you.

Apply for student credit cards that offer rewards for the purchases you make. Reward credit cards are increasing in popularity especially among students. This gives you the option of getting something back for using the card for your purchases. Be careful to read all of the terms that come with your credit card offers to see if they offer rewards, and have terms that are desirable for you. You will want credit cards with the lowest possible interest rate for you to build credit.

Many websites are available today to compare credit card offers all in one convenient location. Side by side comparisons are available for finding the credit cards that are right for you. You may even choose to apply online for credit cards making it even easier for you to start to build credit.

This article is courtesy of CreditCards8.com, where you can easily compare and apply for business credit cards

Credit is a Powerful Tool

Your credit score is the biggest tool you will ever have when it comes to your finances. No matter how much money you have in the bank, if you have bad credit, it will cost you thousands of dollars if you plan to make a big purchase. It may even be the determining factor to whether you can make that purchase or not. If your credit score is too low, banks will not lend you money. Good credit on the other hand, can aid you in making all of those purchases you dream of.

If you pay your bills on time consistently month after month, you will have good credit. Let me say that again, paying your bills on time every month will give you good credit. Good credit is the key to getting the banks to loan you the money you need for big dollar purchases.

If you have poor credit and would like to build credit in order to make a big purchase in the future, there are a two things that will speed up the process.

Check your credit report for errors. This should be done each and every year to ensure everything is correct. You may get a free credit report at annualcreditreport.com. You will have the choice to get all three of the major credit bureau reports or just one. The best option here is to just take one of them for now, so that if there are no errors you can check with the other two credit bureaus later in the year. Many people do not realize that this is an option for them. It is a great way to check your credit report every four months for free. If there are errors in this credit report, it is most likely that there are errors on the other two credit bureau reports as well. Go ahead and order the other two and submit your corrections to them. Detailed information about how to contact them can be found on their site. If everything looks correct, you can come back and choose one of the other credit bureaus in about 4 months to check it again. If you don't know your credit score (FICO), go ahead and pay the fee to see what it is. This will help you when measuring your progress in the months to come

Start paying your bills on time. No matter how you have paid your bills in the past, start making it a top priority to get them paid on time. Look over your bills due regularly to make sure you haven't missed one. Get a pocket calendar and write down the due dates and minimum payment amounts for a quick and easy reference. Paying your bills on time is the first step in having good credit. One late payment will send you right back to where you started, with poor credit. After a few months of paying your bills on time, you will start to receive offers for credit. Ignore these as better offers will come if you do. You don't want to tap yourself out on credit limits just because you can.



The two steps above are just the first steps in fixing poor credit, but are necessary if you want to have the advantages that comes along with good credit.

This article is courtesy of CreditCards8.com, where you can compare hundreds of credit card offers