Best Small Business Credit Cards of November 2023

By August 8, 2023Bookkeeping

what is business credit cards

And so it’s likely you’ll need to sign a personal guarantee that tells the issuer you’re personally liable for any debts your business can’t pay. A business card’s credit line can come in handy for regular expenses as well as those inevitable situations of erratic cash flow that come with running a business. A business card can help you meet your fixed expenses, such as rent and utilities, and offers a way to cover fluctuations in cash flow or cyclical needs — such as snow supplies or other winter demands. Know, too, that business cards don’t qualify for the same protections as consumer cards under the Credit Card Accountability Responsibility and Disclosure Act of 2009. Because of this, it’s important to carefully review the terms and conditions of your business card to understand the issuer protections that cover your business. Dun and Bradstreet is just one of the credit bureaus that have a business credit score matrix.

what is business credit cards

Ultimate Rewards are extremely versatile, and the generous intro bonus and rewards rate on this card makes it easy to rack up flexible points. Answer a few questions and see if you’re likely to be approved in less than a minute—with no impact to your credit score. Enter your email address to activate your approval odds and get updates about future card offers.

Best for simple rewards redemption: The American Express Blue Business Cash™ Card

Business credit cards operate just like personal credit cards with the exception that the card may have a different rewards structure or offer different protections. The Southwest® Rapid Rewards® Performance Business Credit Card provides impressive value for people who regularly what is business credit cards fly domestic on Southwest, which ranked the highest in customer satisfaction for economy airlines by J.D. Despite a relatively high annual fee, the card offers solid rewards, bonus anniversary points, upgraded boardings, inflight Wi-Fi credits and a path to elite status.

  • This inquiry will cause a temporary drop in your credit score of approximately five points or less.
  • The process for applying is similar to a standard credit card application.
  • To apply for a business credit card as an LLC, you must be the owner of the LLC or your name must be included in the operating agreement.
  • Many cards allow the primary cardholder to oversee employee spending by setting spending limits, alerts for card activity and even card limits.
  • Read our Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card review or jump back to this card’s offer details.
  • It helps you earn elevated cash back in the category of your choice plus a decent cash back rate on dining purchases.

That said, depending on your spending habits, another card on this list might end up rewarding you more (if you never spend at office supply stores and pay your internet bill by ACH transfer, for example). Since I don’t have the capital to buy a car with cash, I’ll need to take out an auto loan. Marcinko says that just like with mortgage rates, having a good credit score can help you land a better interest rate. Marcinko says that auto insurance companies look at your driving record and accident history, but they also review your credit score when determining your monthly premiums. I’m eager to spot mistakes that I’ve made throughout 2023, and I want to find opportunities that I can leverage at the start of the new year.

Best for sign-up bonus: Ink Business Preferred® Credit Card

The best credit cards, business or otherwise, will be most accessible to people with good to excellent credit. However, you may consider steering clear of using a personal credit card for business expenses if it ends up muddying your taxes or you need a higher credit limit for pricier purchases. The Capital on Tap might be worth a look for eligible small-business owners who can qualify for the low end of this card’s variable APR (17.74% to 35.99%). In addition to the potential for low-interest rates, this is a flat-rate business credit card offering 1.5% cash back on all purchases and comes with no annual fee.

You’ll also earn on flights booked directly with airlines or through Amex Travel. There are enough perks with this card to help occasional and frequent United flyers offset the annual fee that kicks in after the first year. Cardholders can take advantage of first checked bag free for you and a companion, two annual United Club one-time passes and discounts on United inflight purchases.

Aeroplan® Credit Card

That said, if you’re looking for even more premium travel perks, you may want to consider other options. For a better airport experience, you can get up to a $100 credit toward a Global Entry or TSA PreCheck application fee. Other benefits include trip cancellation and interruption insurance, auto rental collision damage waiver, baggage delay insurance, trip delay reimbursement and purchase protection. Unlike general travel rewards programs, however, your United MileagePlus miles are less flexible. It only makes sense to get this card if you want to go all-in on United.

Business Credit Card Limit: What You Need To Know Chase – Chase News & Stories

Business Credit Card Limit: What You Need To Know Chase.

Posted: Tue, 18 Jul 2023 15:59:53 GMT [source]

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