How to Set Up Microsoft Bing Shopping Campaigns for E-Commerce Businesses

Google may lead the search engine ranks, but they’re not the only player in the game.

Bing holds 11.22% of the global search engine market share. Compared to Google’s 72.94%, that may not seem like much — but with upwards of a third of US desktop searches coming from Bing (and Bing-backed AOL and Yahoo), it’s pretty huge.

For ecommerce businesses, that makes Microsoft Shopping Campaigns (formally known as Bing shopping campaigns) a killer opportunity to boost your bottom line.

NOTE: Bing now refers to all platforms related to their shopping ads by the Microsoft name. For example, what was once called the “Bing Merchant Center” is now the “Microsoft Merchant Center.”

Bing Does Not Equal Google, but That Could Be a Good Thing

Long story short: Your paid media strategy deserves diversification, and Bing is the place to find it.

Why?

Because Bing offers unique demographics you may not be able to target from Google Ads.

More than 70% of Bing users are over the age of 35. At the same time, nearly 40% of Bing users have a six-figure annual household income. The company reports a good chunk of their user base comes from the South Atlantic region of the US (which includes various states from Delaware to Florida, plus Washington DC) — but they also have a stronghold across North America, Latin America, China, and more.

If you are looking for high earners in a particular region, Bing could be your gateway into a lucrative ecommerce market.

Bing has some other perks too, like:

Affordable cost-per-click: Bing competition is significantly less than Google, with one ReportGarden study sharing the average cost-per-click for Bing Ads is just $7.99, while the average Google Ads cost-per-click costs more than $20. Of course, this depends on the industry — but a 250% price increase is nothing to ignore.
User-friendly design: You don’t have to be a digital marketing pro to use Bing Shopping (though you may feel like one after you’re all set up.) You can easily craft ecommerce ad campaigns across platforms (Google included) to reach a wider audience.
Targeting differentiation: On Bing, you can target the device (desktop, smartphone, or tablet), operating system, timezone, and more. (Google allows similar targeting, but the options are far more limited.)
An in with major websites: AOL and Yahoo both use Bing to power their search engines. This benefit provides Bing shopping marketers with a combined 700+ million unique monthly visitors from these two websites alone. Additionally, Amazon’s Alexa currently uses Bing for web searches.

When used in tandem with Google Ads, Bing can diversify your paid media campaigns for all kinds of ecommerce products.

For more information about paid shopping and product campaigns, check out this video and the eCommerce Unlocked series on my YouTube channel:

How Does Bing Shopping Work?

When a user searches a branded or non-branded keyword on Bing, they’ll receive a grid of shopping results from various ecommerce platforms, which are usually from big ecommerce giants like Amazon and small businesses with compelling offers and inventory.

If the user has their location tracking turned on, Bing will refine the results by adding products they can find locally.

example of a bing shopping campaign ad -- How to Setup Microsoft Bing Shopping Campaigns for Ecommerce Businesses

Bing “hiking boots” search query

Depending on your layout, these ads might show up as a vertical grid on the SERP’s right-hand side.

As an ecommerce marketer, your Bing shopping campaigns can give you valuable real estate above the fold.

And it may just put you in contact with a whole new audience while you’re at it.

How to Set Up Your Bing Shopping Campaigns

First things first: Create your Microsoft Merchant Center account.

You can do this by logging onto your Microsoft Ads (formerly known as Bing Ads) account, click the “Microsoft Merchant Center” button, and create an account. You’ll need to verify your store with a destination URL, which may take up to 48 hours.

Once that’s done, follow the steps below.

Create an Up-To-Date Shopping Catalog

A shopping catalog (or shopping feed) is where your products live. You can either import your existing shopping feed from Google Merchant Center or create a brand new one. You can upload any new catalogs to your Microsoft Merchant Center.

Import ecommerce product feed into microsoft bing merchant center account

When creating a new feed, don’t forget to set up all of your product attributes.

There are mandatory product attributes (like title, link, price, description, product identifiers, and more), but there are also some optional ones (like color, gender, material, and size).

Add as many as you can because this info helps you connect with users in your target audience. That will help improve your conversion rates — which is always a good thing.

Create an Audience

Creating a custom audience tells Microsoft and Bing who you want to reach. Aim to create a narrow audience, so you don’t waste ad spend on people outside your target audience.

On your Microsoft Advertising account, head to “Shared Library.” Under the audience header, you’ll click “View Audiences.” This section is where you can lay out your ad’s plan of action once it’s live.

Create a Campaign

From your Microsoft Merchant Center, click Create Campaign. Then click Sell Products.

You’ll adjust your campaign settings, like setting priority levels for each of your Bing shopping campaigns.

Priority levels can be high, medium, or low. The higher priority campaigns take precedence, so set your important campaigns with a bigger budget on high priority while leaving your runner-ups on medium or low.

Organize Your Product Groups

You can organize based on various attributes you’ve given to each product. This feature helps with targeting.

Turn on Automatic Item Updates

This option ensures your ad prices always reflect your website prices, and you’re not advertising products that you’ve already sold. A new consumer isn’t going to give your shop a second look if prices are off or you’re promoting out of stock items.

Instant updates also help you avoid wasting your budget.

Use Custom Labels to Streamline Audience Targeting

Head to the “Labels” on your product feed in your campaign editor. You can organize campaigns, keywords, ad groups, and ads in a way that works for you.

While it won’t directly impact your Bing ads, this does help you better analyze your campaigns and improve future targeting. That can boost future campaigns and help you optimize existing ones.

Need a more hands-on guide? Microsoft has a training course for newbies.

Tips and Plugins to Optimize Your Bing Campaigns

Why settle for average when your ecommerce shop can run the Bing shopping game?

Try these tips and tricks to optimize your Bing ad campaigns and maximize your ad dollars. You can also view my free PDF of Bing Ads resources.

Import Google Ads to Bing Shopping Campaigns

It may seem like magic, but you can import your shopping campaigns to Bing straight from Google Ads.

All you have to do is make sure your website is set up on an ecommerce platform (think Shopify and the like.) Then, ensure your Google Ads shopping feed and campaign are up and running.

Once you create your Microsoft Merchant Center store and verify it, you can import your campaign using Microsoft’s Google Merchant Center (GMC) Import tool.

import google shopping campaign into microsoft bing shopping campaign

Then, tick the option that allows you to sync the two platforms to keep everything updated.

Universal Event Tracking

Universal Event Tracking (UET) is a Microsoft tool that helps track the sales and conversions that stem directly from your Bing shopping campaigns.

Events are consumer actions like clicks throughs, add to carts, and purchases. You can track which events matter most to you and follow the consumer’s path from start to finish.

This tracking will help you understand how much revenue you can attribute to your Bing ads. The process includes applying a UET event tag and short web coding to record the conversions as they come.

Use Microsoft’s how-to guide for implementing UET for your Bing shopping campaigns.

Microsoft Ad Extensions

To help businesses of every kind (including you ecommerce folks), Microsoft has developed a series of ad extensions for Bing shopping campaigns.

What are my favorite extensions for ecommerce businesses?

Well, since you asked:

Sitelink extensions: Sitelinks are a cool tool that sends ecommerce customers straight to the right page. Word on the street is that you can’t actively control these on Google, so take advantage of this in Bing ads.
Image extensions: Add relevant images to your Bing ad using image extensions.
Review extensions: Show average reviews for your ecommerce products, right on the ad.
Price extensions: List your competitive price to lure in consumers from the SERP.
Action extensions: Add a call-to-action to your campaign that’s clear, concise, and action-oriented.

Shopify Ecommerce Store Integration

If you use Shopify to run your ecommerce store, you can integrate it directly with Bing Shopping.

Use the Shopify app to streamline analytics and keep all your data in one easy-to-access place.

Shopify is especially helpful for ecommerce teams who want collaborative access to Bing shopping campaign info. But regardless of how many people you have on your side, it’s undoubtedly beneficial for Shopify store owners.

Set up Bing Remarketing Audiences

Remarketing is a process that lets you target consumers based on their prior web actions.

Keep in mind, if you import Google shopping feeds over to your Microsoft Merchant Center, you can’t import your remarketing data. That means whether you’re importing or starting campaigns from scratch, you’ll need to set up remarketing audiences manually.

Start with your existing audiences in your Microsoft Advertising platform.

You’ll also want to make sure you’ve set up UET tags and coded them into your website. This tagging makes sense considering you’re basing it off of the customer’s previous actions, so you need to track them.

Once you hit the “Audience” page, click “Create a remarketing list.”

From there, create a tag and configure the settings as you see fit. And whatever you do, don’t forget to save!

Use Local Inventory Ads For Storefronts

Bing’s local feature is pretty cool. It shows your ads for localized product queries, including cities, states, or phrasing such as “near me.”

So if your ecommerce business also has a local storefront, set up Local Inventory Ads to maximize reach.

All you have to do is provide your shop’s physical location, upload and submit product info, keep your inventory updated, and enable your Microsoft Shopping Campaigns.

Conclusion

There’s no denying Google‘s prowess, but ecommerce advertisers should consider Bing campaigns as well.

Adding Bing shopping campaigns to your marketing repertoire is an easy way to diversify your paid advertising.

Is your ecommerce business ready for an adventure into the world of Bing shopping?

The post How to Set Up Microsoft Bing Shopping Campaigns for E-Commerce Businesses appeared first on Neil Patel.

Government Grants for Women and Other Funding Options for Women Owned Businesses

It’s no secret that female business owners face unique challenges when it comes to finding funding for their businesses. There are a lot of options available, but it seems that whenever a woman seeks funding advice, they get a generic answer. Usually it is something related to government grants for women. However, specific government grants for women are not as common as many think.

There Are a Number Funding Options Available for Women Owned Businesses, Including Government Grants for Women

Still, there are plenty of options. Some are designed specifically for women business owners, but most are not. From private grants to government loans, women business owners can fund their businesses and be successful if they know where to start.

Government Grants for Women and From Other Sources

All grant programs are highly competitive. Even the few government grants for women. Despite this, they are definitely worth the effort to apply, as there really isn’t a lot to lose except time. It’s free money that can supplement other funding types. Some examples include:

SBA Women’s Business Centers

In addition to helping with loans, the SBA Women’s Business Centers also help women entrepreneurs get access to other types of funding. Some lend money or award grants directly, while others help connect women entrepreneurs with financial institutions. The grants that are awarded through some of these centers could be considered government grants for women, since the SBA is a government entity.

Eileen Fisher Women-Owned Business Grant

The clothing brand Eileen Fisher hands out $100,000 per year to 10 women-owned businesses. To qualify, a woman must have at least 51% ownership, and the business must be in operation for at least three years. Also, it must bring in less than $1 million per year in revenue and have a focus on environmental or social change. This is a private sector grant.

Find out why so many companies use our proven methods to get business loans.

Amber Grant

The Amber Grant awards $500 to $1,000 per month to a woman-owned business. One of the recipients also receives an additional $10,000 grant at the end of the year. Applicants only need to tell their story and turn it in with a $15 application fee. This one is another private sector grant.

#GIRLBOSS Foundation Grant

Specifically for woman-owned businesses in fashion, music, and art, the #GIRLBOSS small business grant awards $15,000. They also offer exposure via the Girlboss website and social media platforms. Judges rate those applying on creativity, business savvy, planning, innovation in the field, need, and where they plan to work. Like the last two, this is private grant.

Cartier Women’s Initiative Award

The Cartier Women’s Initiative Award is $100,000 for first place and $30,000 for second place. They award the grant to 18 female business owners from around the world each year. Women business owners who are just getting started may qualify. Go here for the complete application information for this small business grant.

All of the finalists get to attend the INSEAD Social Entrepreneurship 6-Day Executive Program (ISEP). They will also have the opportunity to participate in workshops on entrepreneurship, business coaching seminars, and be exposed to networking opportunities. This is also a private grant.

The Small Business Administration

The SBA offers government backed loan programs, a number of which are perfect for women business owners, though not designed exclusively for women.

7(a) Loans

This program offers federally funded term loans up to $5 million. The funds can be used for expansion, purchasing equipment, working capital and more. Banks, credit unions, and other specialized institutions in partnership with the SBA process these loans and disburse the funds.

To qualify a business owner has to have a credit score of at least 680. There is also a required down payment of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years. If a business is a startup, business experience equal to two years is enough.

This is by far the most popular of the SBA loan programs. Funds are available for a broad range of projects, from working capital to refinancing debt, and even buying a new business or real estate.

504 Loans

These loans are also available up to $5 million. They can buy machinery, facilities, or land. Generally, they are used for expansion. Private sector lenders or nonprofits process and disburse the funds, and they work especially well for commercial real estate purchases.

Terms for 504 loans range from 10 to 20 years. Funding can take from 30 to 90 days. The minimum credit score requirement is 680, and collateral is the asset being financed. There is also a down payment requirement of 10%. However, this can increase to 15% for a new business.

Furthermore, there is a requirement that you be in business for at least 2 years, or that management has equivalent experience if the business is a startup.

Microloans

Microloans are available in amounts up to $50,000. They work for starting a business, purchasing equipment, buying inventory, or for working capital. Community based nonprofits handle microloan programs as intermediaries. Unlike other SBA programs, financing coming directly from the Small Business Administration.

Interest rates on these loans are 7.75% to 8% above the lender’s cost to fund, and the terms go up to 6 years. They can take up to 90 days to fund. There is a 640 minimum credit score requirement. However, the collateral and down payment requirements vary by lender.

SBA Disaster Loans

Disaster loans are available in amounts up to $2 million. They are actually processed directly through the SBA. They are available to small-business owners that have been affected by natural disasters. Terms go up to 30 years, and the maximum interest rate is 4%.

Find out why so many companies use our proven methods to get business loans.

The minimum credit score for disaster loans is 660. Collateral is necessary if the loan goes over a certain amount, usually $25,000, if it is available or when it becomes available. For a military economic injury disaster that amount is $50,000. A down payment is not necessary either way.

SBA Express loans

Express loans top out at $350,000 and have a maximum interest rate of 11.50%. Terms range from 5 to 25 years, and the SBA guarantee is less than with their other loan programs at 50%. To qualify, your credit score must be above 680. In addition, you must have a debt to service ratio of 1.1 or higher. If the loan is greater than $25,000, collateral may be necessary depending on the lender.

The turnaround for express loans is much faster. The SBA takes up to 36 hours to give a decision. Necessary paperwork for application is also less, making express loans a great option for working capital, among other things, if you qualify.

SBA CAPLine

There are 4 distinct CAPLine programs that differ mostly in the expenses they can fund. Each of them carries a maximum amount of $5 million and an interest rate that ranges from 7% to 10%. Funding can take 45 to 90 days.

The four different programs are:

Seasonal CAPLines -Financing for businesses preparing for a seasonal increase in sales.

Contract CAPLines -Financing for businesses that need funding to fill a contract.

Builder’s CAPLines -Financing for businesses taking on a real estate or construction project.

Working capital CAPLines -Financing for businesses that are struggling with a short-term slump in sales.

You must have a credit score of 680 or above to qualify for these. There is no minimum time in business requirement unless you are getting a seasonal CAPline. That one carries a one year in business requirement.

SBA Community Advantage Loans

This is a pilot program set to expire or extend in 2020. Its purpose is to promote economic growth in underserved areas and markets. Decision makers can be less stringent when it comes to poor credit or low revenue if the business has the potential to stimulate the economy or create jobs in underserved areas.

Loan amounts range from $50,000 to $250,000 with a maximum interest rate of 11%, while terms range up to 25 years.

Other Loan Options for Women Business Owners

While programs like those that provide government grants for women and those offered by The Small Business Administration often work to meet the unique challenges faced by women business owners, sometimes it just isn’t enough. If your credit score does not allow you to qualify for SBA loans, these options are available as well. They tend to work well, though not specifically designed for women.

Lending Club

LendingClub functions as a peer-to-peer lender that offers mostly fixed-term small business loans. Borrowers that get loans from LendingClub generally use loans funds to buy equipment, finance growth or expansion projects, consolidate other debt, or hire new employees.

One benefit LendingClub offers with their small business loans that many others do not is access to a client advisor. This is someone to help you figure out how to best use your business loan funds, as well as how to budget loan payments.

The minimum loan amount at LendingClub is $5,000 and the maximum is $300,000. There is a minimum time in business requirement of 12 months to qualify. In addition, you must have at least $50,000 in annual sales. There can be no tax liens or bankruptcies, and you must have at least 20% ownership. They will work with a credit score that is fair or higher. A fair credit score ranges from 620 to 659.

Lendio

Lendio offers a loan-connection service that dramatically cuts the time it takes for small business owners to find the perfect loan. They do the legwork by vetting a network of competing small business lenders. Funding is fast, sometimes in as little as 24 hours.

Potential borrowers submit one application and then see offers from lenders in the network. The minimum loan amount is $500 while the maximum is $5,000,000. The business must be U.S. or Canada based and must have a business bank account. There is a minimum personal credit score requirement of 560.

Blue Vine

BlueVine offers two options for small business financing. They include lines of credit and invoice factoring. They also offer the ability to talk with a financial advisor. Their application process takes place exclusively online. The minimum loan amount is $5,000 and their maximum is $100,000. Furthermore, to be eligible you must be in business for at least 6 months, have revenue of $120,000 per year or more, and have a credit score of at least 600.

Kiva

Kiva has a unique lending model. They offer loans to businesses, but their platform is far different from than that of traditional or even other non-traditional lenders. It is sort of a cross between crowdfunding and lending. They offer loans with a 0% interest rate. That means, even though you have to pay it back, it is actually free money. In addition, they do not run a credit check at all. The only requirement is that you have to get at least 5 family members or friends to donate money for your business. Also, you have to give at least a $25 loan to another business on the platform yourself.

Grameen

Microloans are a great option when it comes to business loans for women with bad credit. Grameen is one of the few lenders that offers microloans specifically for women. The loan amounts range from $2,000 to $15,000, and they also offer financial training and support.

As a bonus, they report payments to Equifax and Experian. Consequently, these loans help borrowers build credit.

Find out why so many companies use our proven methods to get business loans.

Government Grants for Women Do Exist, but So Much More Is Available

It is possible to find government grants for women. They do exist. However, they are not the only option female entrepreneurs have. Since they are rarely enough to fully fund a business, it is good to know what else is out there.

When looking for government grants for women, start with the SBA Women’s Business Centers. They are going to be your best bet for information of this type. Don’t limit yourself, however. Try the other grant options mentioned above, and look around for others. New ones pop up every day. Know though, that complete funding will almost always require a loan or investor of some type, so keep that in mind as well.

The post Government Grants for Women and Other Funding Options for Women Owned Businesses appeared first on Credit Suite.

Is It Possible to Get Vendor Credit for New Businesses? Yes!

Vendor credit accounts, also known as business tradelines, are vital to the business credit building process. However, getting vendor credit for new businesses can be tricky. It doesn’t happen overnight, but if you follow the process, it can happen.

Yes! It’s Possible to Get Vendor Credit for New Businesses

First, we have to define what a new business is in this context. When we discuss vendor credit for new businesses, we mean businesses in operation for less than a year. You can get starter vendor credit if you have been in operation for less than a year, but most require you to be in business for at least 6 months. There are a few that do not have a time in business requirement however.

Then, we have to define vendor credit. Vendor credit is credit from vendors that you make purchases from for your business. When it comes to vendor credit for new businesses, you need those that will offer credit without a credit check. This is because, as a new business, you have not yet had time to sufficiently build business credit.

When it comes to new businesses, some vendors will extend net terms and report your payments to the business credit reporting agencies (CRAs). For new business, they generally do not offer revolving credit, but that’s okay. That can come later. The whole point of vendor credit for new businesses is to help you build your business credit score so you can qualify for more types of funding.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

What is a Business Credit Score and Why Do You Need One?

If the point of vendor credit for new businesses is to build your business credit score, it can be helpful to understand exactly why you need one. A business credit score is a credit score similar to your personal FICO credit score, but in the name of your business. It is not associated with you as the owner, or with your personal credit score.

The problem is, it doesn’t matter how much vendor credit you get, it will not count toward your business credit score if your business is not set up to be a separate entity from you as the owner. If it isn’t, any credit you get will just be applied to your personal credit report.

Set Your Business Up As A Separate Entity from Yourself

Here are some practical steps to take to create separation between your business and yourself.

Do Not Use the Same Contact Information

Make sure your business has its own phone number, fax number, and address. That’s not to say you have to get a separate phone line, or even a separate location. You can have a business number forwarded to your current phone. You can even still run your business from your home or on your computer. It’s not even necessary to have a fax machine.

EIN

Next, get an EIN. This is an identifying number for your business that works similar to how your SSN works for you personally. Some business owners use their SSN for their business transactions such as opening credit accounts. This is what a lot of sole proprietorships and partnerships do. However, it really doesn’t look professional to lenders, and it can cause your personal and business credit to get all mixed up. To be fundable, you need to apply for and use an EIN. You can get one for free from the IRS.

Incorporate As Soon As Possible

Incorporating is an absolutely necessary step. Not only does it play a huge role is separating a business from the owner, but it also lends credibility to your business as one that is legitimate. In addition, it offers some protection from liability.

Which option you choose does not matter as much for being fundable as it does for you budget and needs for liability protection. The best thing to do is talk to your attorney or a tax professional. If you do not do this from the beginning, there will be some issues to work through. When you incorporate, you become a new entity. This means you lose any time in business you already have. You basically have to start over. You’ll also lose any positive payment history.

This is why you have to incorporate as soon as possible. Not only is it necessary for fundability and for building business credit, but so is time in business. The longer you have been in business the more fundable you appear to be. That starts on the date of incorporation, regardless of when you actually started doing business.

Separate Business Bank Account

A separate, dedicated business bank account is also a must. There are a few reasons for this. First, it will help you keep business finances separate. This is good for a lot of reasons, but the big one is tax purposes.

However, there are also several types of funding you cannot get without a business bank account. Many lenders and credit cards want to see one with a minimum average balance. In addition, you cannot get a merchant account without a business account at a bank. That means, you cannot take credit cards payments. Studies show consumers spend more when they can pay by credit card.

Proper Licenses

If anyone were to check to see if your business has all of the licenses it needs to operate and finds that you do not, it will cause a massive hit to your credibility with that person. For a business to be legitimate, it has to have all of the necessary licenses it needs to run. If it doesn’t, warning flags are going to start waving. Research what licenses you need to ensure you have all of those necessary to legitimately run your business at the federal, state, and local levels.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Business Website

I am sure you are wondering how a business website can affect whether your business is separate from you as the owner. Here’s the thing. These days, a business doesn’t even really exist if there is no business website. Of course, that isn’t technically true, but practically is could be. The website is the first impression you make on many, and if it appears to be unprofessional it will not bode well for you with consumers or potential lenders.

Spend the time and money necessary to ensure your website is professionally designed and works well. Pay for hosting too. Don’t use a free hosting service. Also, your business needs a business email address that is different from your personal one. That goes along with separate contact information. Make sure it has the same URL as your website. A free service such as Yahoo or Gmail will not work the same way.

Why is Vendor Credit for New Businesses So Important?

After you have all these pieces in place, you can start applying to get vendor credit from starter vendors. These are those vendors we discussed earlier that will offer net terms and report payments. This is important because, if you have your business credit set up properly, those payments will start building positive credit history on your business credit report, and your business credit score will start to grow. With a strong business credit score, all kinds of funding options will be open to your business.

Where to Start to Get Vendor Credit for New Businesses

That’s the big question, right? Sure, you know you need vendor credit, but which vendors will actually extend these terms without a credit check? There are more than you may think, but here are a few to get you started.

Behalf.com

Behalf is way of getting paid through an app, but they also offer funding. The more you have your customers pay you through Behalf, the more likely Behalf is to offer you favorable terms when it comes to funding.

Funding can be through purchase financing or a virtual Mastercard option. Terms run from Net 30 to 180 days, and they report to Dun & Bradstreet, Experian, and Equifax. This fact alone, that they report to all the major credit reporting agencies, makes them an extremely valuable tool in building business credit.

Wells Fargo Business Secured Credit Card

This card is only available to Wells Fargo Online customers. Credit lines are available from $500 to $25,000, and there is a $25 annual fee. The grace period to pay is 21 days, and they offer purchase protection. You can apply for a Wells Fargo Business Secured Credit Card online, in a store, or by phone. They report to Business Experian.

Uline Shipping Supplies

Uline sells shipping, packing and industrial supplies. This means you can use them to purchase things you would use in the everyday course of business. You will need two trade references and a bank reference to get approval for net terms. In addition, they will usually only report payments on orders of over $50. They report to Dun and Bradstreet, so you will definitely need a D-U-N-S number before opening an account with them.

Also, your first few orders might need to be prepaid. It’s easy to apply. Just add an item to your cart, go to checkout, and choose the open an account option. Then, select the option to receive an invoice.

Quill Office Supplies

Quill is similar to Uline in that they sell packaging supplies. However, they also sell office and cleaning supplies. You have to have an established PAYDEX or place and initial order before you can apply for net terms. They report to D&B as well. If you place an order each month for 3 months you can usually get approval. Their application process is similar to Uline’s.

Grainger Industrial Supply

Grainger will approve almost anyone that has a business license for credit of less than $1,000. If you need over $1,000, they will ask to see trade and bank references. You can fax your application or apply over the phone.

What Happens After You Get Vendor Credit for New Businesses?

These are great to get started with, because it is super easy to get accounts reporting with them. That will get your business credit score started and allow you to get even more accounts reporting. Once you have several of these accounts, maybe 8 or 10, you can apply for different types of accounts.

The next credit tier after this vendor credit tier is the retail credit tier. This is commonly referred to as store credit. Retailers like Office Depot and Lowe’s offer these cards, but you can only use them at those particular stores or on their specific websites. However, after you get 8 or 10 of those reporting, you can move on to the next credit tier.

That would be the fleet credit tier. These are credit cards that companies like Shell and Fuelman offer to use exclusively for fuel costs and auto repair and maintenance. This is the last step in the business credit building process before the cash credit tier, which is the last tier.

This tier consists of those standard credit cards that are not regulated to a specific store or specific types of purchases. Generally, they have better interest rates and terms, and often they offer nice rewards.

Vendor Credit for New Businesses: A Word About Business Credit Monitoring

Pretty much the only way to start building business credit is with vendor credit from starter vendors. However, you have to be actively involved in the process. You must monitor your business credit reports on a regular basis for more than one reason.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

First, you have to see which accounts are reporting. This is the only way to know when you have enough accounts reporting to qualify for approval for cards in the next credit tier. In addition, you need to keep an eye out mistakes and information that needs updating. Take action on this quickly, in writing, to keep them from affecting your fundability.

Vendor Credit for New Businesses Is Necessary for Building Business Credit

Unlike personal credit, you have to actively work to build business credit. After setting up your business to be a fundable entity separate from you as the owner, the next step is to find vendors that will extend credit and report payments to the business CRAs. Once you do that, if you handle your credit responsibly, the snow ball will only keep building.

The post Is It Possible to Get Vendor Credit for New Businesses? Yes! appeared first on Credit Suite.

Long-Haul Truckers! Get the Best Credit Cards for Businesses

Check Out the Best Credit Cards for Businesses

We checked out a ton of business credit cards, and did the research for you. So here are our preferences. Get the best credit cards for businesses just like yours.

Per the SBA, small business credit card limits are a whopping 10 – 100 times that of personal cards!

This reveals you can get a lot more cash with business credit. And it also shows you can have personal credit cards at retailers. So you would now have an extra card at the same shops for your small business.

You will not need collateral, cash flow, or financial data in order to get company credit.

Business Credit Card Advantages

Perks vary. So, make sure to select the benefit you like from this array of alternatives.

Credit Cards for Businesses with No Annual Fee

Costco Anywhere Visa® Business Card by Citi

Consider filling your gas tank with the Costco Anywhere Visa® Business Card by Citi.

This credit card earns cash back with every purchase. Earn 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Earn 3% cash back at restaurants and on eligible travel purchases. Also, get 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.

Note: the $0 yearly fee is only for Costco members. And an active Costco membership is required. Cardholders will get access to damage and theft purchase protection, extended warranty coverage and travel accident insurance.

Also, there is no sign-up bonus offered with this card.

Get it here: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhere-visa-business-credit-card

Ink Business Cash℠ Credit Card

Look at the Ink Business Cash ℠ Credit Card. Businesses can get cash back with every purchase. Spend $3,000 in the initial three months from account opening. And you’ll get a $500 bonus cash back.

There is a $0 annual fee with a 0% introductory APR for 12 months on purchases and balance transfers. Afterwards, the APR is a 15.24 – 21.24% variable.

The card includes travel and purchase coverage benefits. So, this includes an auto rental collision damage waiver and extended warranty protection.

Details

Earn additional cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

Note: this card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is more. Also, there is a foreign transaction fee of 3%.

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-cash

Starwood Preferred Guest® Business Credit Card from American Express

Another choice is the Starwood Preferred Guest Business Credit Card from American Express.

This credit card is for those who stay at Starwood Preferred Guest and Marriott hotels often. Get six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.

And get four points per dollar at US restaurants, US gas stations, and on American purchases for shipping.

Also, get four points to the dollar on wireless telephone services purchased directly from US service providers. For all other eligible purchases, earn two points per dollar.

Details

Earn 75,000 bonus points when you spend $3,000 in the initial three months of account opening. Benefits include free in-room premium internet access, Sheraton Club lounge access, and purchase protection.

Plus you get car rental loss and damage insurance. And you get baggage insurance. There is also a global assistance hotline. And there is a roadside assistance hotline. And get travel accident insurance and extended warranty coverage.

The biggest issue is the annual fee. There is a $0 introductory annual fee for the first year, then it’s $95 thereafter. Plus there is no 0% introductory APR. Instead, there is a 17.74 – 26.74% variable APR

Get it here: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/spg-amex-starwood-credit-card

Uber Visa Card

Check out the Uber Visa Card. Uber is the first ride-sharing service to offer a credit card, in a partnership with Visa and Barclays.

The card provides 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, earn 3% back on hotel, airfare and vacation home rentals. And get 2% back on online purchases.

So, this includes retailers and subscription services such as Uber and Netflix. And earn 1% back on all other purchases. Each percent/point has a value of 1 cent. Redeem points for cash back, gift cards or Uber credits directly within the app.

By spending a minimum of $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending at least $5,000 annually are eligible to receive a $50 credit toward online subscription services.

Details

If you pay your cell phone bill with this card, you are insured up to $600 for cellphone damage or theft.

Cardholders are eligible for exclusive access to certain events and offers. Uber anticipates the majority of these offers will be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC. There is no foreign transaction fee.

But there is no introductory rate. The APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with less than stellar credit will be on the higher end of the range.

Also, there are restrictions on Uber credits. To redeem points as credits in the Uber app, accumulate at least 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, in a given day.

Get it here: https://www.uber.com/c/uber-credit-card/

United MileagePlus Explorer Business Card

Get a good look at the United MileagePlus Explorer Business Card.

Get 2 miles/dollar with United and at restaurants, gas stations and office supply stores. All other purchases earn 1 mile/dollar. Earn a 50,000-mile sign-up bonus after spending $3,000 in the initial three months from account opening.

Benefits include priority boarding, a free first checked bag for you and a companion on the same reservation.

Details

Also, get two United Club passes annually. And get hotel and resort perks including upgrades. On top of that, get early check-in and late checkout. And get an auto rental collision damage waiver.

Plus, get baggage delay insurance, lost luggage reimbursement, trip cancellation and interruption insurance. Finally, get trip delay reimbursement, purchase protection, price protection and concierge service.

After the first year, the card has an annual fee of $95. APR of 17.99% – 24.99%, based on creditworthiness.

Get it here: https://creditcards.chase.com/small-business-credit-cards/united-mileageplus-explorer-business

Credit Cards for Businesses for Fantastic Travel Points

Capital One® Spark® Miles for Business

Be sure to check out the Capital One® Spark® Miles for Business card. With this card, you can earn 2 miles per dollar on all purchases. When you spend $4,500 within the first 3 months of opening an account, you can earn 50,000 miles. So, that is worth $500 in travel.

Benefits for cardholders include an auto rental collision damage waiver, and purchase security. And they also include extended warranty coverage. And you get travel and emergency assistance services.

Cardholders will pay $0 introductory for the first year. But they will pay $95 after that for the annual fee.

There is no 0% APR for purchases or balance transfers with this card. The APR is 18.74% (variable).

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-miles/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

IHG ® Rewards Club Premier Credit Card

Have a look at the IHG ® Rewards Club Premier Credit Card. it gets hotel rewards worldwide. For each dollar spent at participating IHG hotels, get 10 points. Earn two points per dollar spent at gas stations, grocery stores and restaurants.

Plus all other purchases earn one point. New cardholders can earn an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.

Details

This card provides a free one-night hotel stay annually. Plus there is a range of benefits like travel and purchase coverage and an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.

The most significant issue is that the card does not have a zero percent APR introductory rate. And the standard APR is 17.99 – 24.99% variable. Also, the annual fee is $89.

Get it here: https://creditcards.chase.com/a1/ihg/premiernaep

Marriott Rewards® Premier Plus Credit Card

This card earns six points/dollar spent at participating Marriott and SPG hotels. And get two points/dollar on all other purchases.

Spend $3,000 in the first three months from account opening and get two free night awards (each worth up to 35,000 points).

Cardholders get access to perks including a free one-night stay every year after account anniversary. Also get travel and purchase protection. So, this includes free standard in-room Wi-Fi and priority late checkout.

Details

Perks include baggage delay reimbursement, and lost luggage reimbursement. There is also trip delay reimbursement. And there is purchase protection. And also there are concierge service and automatic Silver Elite status, which includes a 20% bonus on points.

Spend $35,000 each account year, and be upgraded to Gold Elite status. So, that includes a complimentary room upgrade, free daily breakfast and 4 PM late checkout.

There is an annual fee of $95. The APR is a 17.99– 24.99% variable.

Get it here: https://creditcards.chase.com/marriott/apply

Credit Cards for Businesses with 0% APR – Pay Absolutely Nothing!

Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no annual fee and comes with a 0% introductory APR on purchases for the first nine months. Thereafter, the card has a 13.24 – 23.24% variable APR

Earn 3 points/dollar spent when you book travel through the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can get unlimited points and points will never expire.

Details

There is a 25,000-point sign-up bonus when you spend $1,000 within the initial 60 days of opening up the account. Cardholders get travel accident insurance, and lost luggage reimbursement.

They likewise get trip cancellation coverage, trip delay reimbursement and other advantages.

There is no introductory rate for balance transfers. Also, bonus categories are limited.

Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/

JetBlue Plus Card

Take a look at the JetBlue Plus Card for an additional offer of a 0% introductory APR

Earn six points/dollar on JetBlue purchases, two points/dollar at eateries and grocery stores. And get one point/dollar on all other purchases.

Details

Spend $1,000 in the first 90 days and pay the yearly fee, and earn 40,000 bonus points. New cardholders receive a 12 month, 0% initial APR on balance transfers made in 45 days of account opening.

After that, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based upon creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.

There is a $99 yearly fee for this card.

Get it here: https://cards.barclaycardus.com/cards/jetblue-card/

Credit Cards for Businesses with Average Credit

Capital One® Spark® Classic for Business

For average credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. The card gets an unlimited 1% cash back on all purchases. There is an annual fee of $0.

With this card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage. And you get travel and emergency assistance services.

But REMEMBER: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Credit Cards for Businesses for Low APR/Balance Transfers

Discover it® Cash Back

Have a look at the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.

After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based on the Prime Rate.

Details

You can get 5% cash back at different places every quarter. So, these are establishments like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. In addition, automatically earn unlimited 1% cash back on all other purchases.

You will earn an unlimited dollar-for-dollar match of all the cash back you have gotten at the end of your first year, automatically.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html

Credit Cards for Businesses for Cash Back

SimplyCash Plus Business Credit Card from American Express

Look at the SimplyCash Plus Business Credit Card from American Express. There is a $0 annual fee. And there is a 0% APR on purchases So this is for the initial 15 months an account is open.

But when the introductory period runs out, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.

Details

This credit card has numerous benefits. These include purchase protection, car rental loss and damage insurance. And they also include a baggage insurance plan, extended warranty coverage and a global assist hotline.

Also, earn 5% cash back at US office supply stores and on wireless phone services. So, these must be purchased from US providers. But this pertains to the initial $50,000 of yearly spending. Then, you earn 1% cash back.

You also get 3% cash back on spending category of your choice. So, this is from eight distinct categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending. Then, you earn 1% cash back.

Cash-back bonuses are automatically credited to the customer’s billing statement.

Note: you cannot use this credit card for balance transfers. There is a foreign transaction fee of 2.7%. The credit card charges up to $38 in late fees. And the returned check fee is also $38. The penalty APR is 29.99%.

And, it kicks in if you have two or more late payments within 12 months. It can also apply if you fail to make the minimum payment on time or have a returned payment.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279

Capital One® Quicksilver® Card

Take a look at the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards which cardholders can earn. Also, the card has a $0 annual fee.

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. Then afterwards they have a 14.74 – 24.74% (variable) APR after that.

A cash bonus of $150 is on offer for those who make at least $500 in purchases in 3 months of account opening.

Details

Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.

This credit card also offers travel accident insurance. And you get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.

Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the first 15 months.

Get it here: https://www.capitalone.com/credit-cards/quicksilver/

Ironclad Secured Credit Cards for Businesses

Wells Fargo Business Secured Credit Card

Check out the Wells Fargo Business Secured Credit Card. It charges a $25 annual fee per credit card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000) and it is designed to help cardholders establish or rebuild their credit.

Select this card if you want to get 1.5% per dollar in purchases with no limits or earn one point for every dollar in purchases. You also get 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

Details

Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed. And you may become eligible for an upgrade to an unsecured card with responsible use over time. Approval is not guaranteed and depends on factors including how you manage this and your other accounts.

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a card for balance transfers.

Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/

Credit Cards for Businesses for Jackpot Rewards

Chase Sapphire Preferred® Card

Take a look at the Chase Sapphire Preferred® Card for travel points.

You can earn two points per dollar spent on travel and dining at restaurants. And you can earn one point per dollar on all other purchases. Points can be redeemed for cash back, gift cards, or travel.

The card’s benefits include trip cancellation insurance, travel and emergency assistance services. They also include an auto rental collision damage waiver, purchase protection and extended warranty protection.

When you spend $4,000 in the initial 3 months from account opening, you will get 50,000 bonus points. These points are worth $625 if you redeem them for travel through Chase Ultimate Rewards.

Details

You can get an unlimited two points per dollar for travel and dining at restaurants. And after that earn one point per dollar for all other purchases. Points will transfer equally to 13 leading frequent travel programs with partners. So these include British Airways, Southwest Airlines, United, and Marriott.

There is no 0% introductory APR on purchases or balance transfers. The card’s standard APR is 17.74 – 24.74% variable. Also, the card has an annual fee of $0 introductory for the first year. And then it skyrockets to $95.

Get it here: https://creditcards.chase.com/rewards-credit-cards/chase-sapphire-preferred

Ink Business Preferred ℠ Credit Card

Get a look at the Ink Business Preferred Credit Card from Chase. Cardholders earn 3 points for every dollar spent on travel, shipping, internet, cable, phone and qualifying advertising with the card. So, this is up to $150,000 each year. And all other purchases earn an unlimited one point per dollar spent.

This is a Visa card.

Cardholders get benefits like purchase protection, trip cancellation or interruption insurance. They also get cellphone protection. And they get extended warranty coverage. And they get an auto rental collision damage waiver.

Details

Earn 80,000 bonus points when you spend $5,000 in the first 3 months from account opening. There is an annual fee of $95. You can add employee credit cards at no additional cost.

This credit card only offers 3 points per dollar to a limit of $150,000 a year. So, this is for travel, shipping, internet, cable, phone and qualifying advertising. All other purchases earn an unlimited flat rate of one point per dollar. And there is no introductory APR

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-business-preferred

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Hilton Honors American Express Ascend Card

Have a look at the Hilton Honors American Express Ascend Card, which earns hotel rewards points. Get up to 12 points per dollar of eligible purchases at participating Hilton hotels or resorts.

Automatically get Hilton Honors Gold status. And this includes room upgrades when available, a 5th night free when you book a rewards stay of 5 nights or more.

And get free internet access and late checkout. It also includes a 25% bonus on base points earned with Hilton Honors.

This card has a variable purchase APR of 17.74 – 26.74%. There is an annual fee of $95.

Details

Cardholders can earn a 125,000-point welcome offer after making $2,000 in eligible purchases in 3 months from account opening. Get a free weekend night award after making $15,000 in eligible purchases on your card in a calendar year.

Benefits include purchase protection. And there is extended warranty coverage. They also include car rental loss and damage insurance and travel accident insurance.

If you spend $40,000 on eligible purchases with the card in a calendar year, you can earn Hilton Honors Diamond status through the end of the next calendar year. This status includes all of the benefits of Gold status.

It also includes a 50% bonus on base points earned with Hilton Honors and exclusive floor lounge access at select properties. But that is extremely high spending required for elite status. Only you can decide if that’s worth it.

Get it here: https://www.americanexpress.com/us/credit-cards/card/hilton-honors-ascend/

The Best Credit Cards for Businesses for You

Your absolute best credit cards for businesses for hinge on your credit history and scores.

Only you can pick which features you want and need. So make sure to do your homework. What is outstanding for you could be catastrophic for other people.

And, as always, be sure to establish credit in the recommended order for the best, fastest benefits.

The post Long-Haul Truckers! Get the Best Credit Cards for Businesses appeared first on Credit Suite.

Check Out Small Business Credit Cards for New Businesses

Get the Best Small Business Credit Cards for New Businesses

We took a look at a ton of small business credit cards for new businesses, and did the research for you. So here are our picks.

Per the SBA, small business credit card limits are a whopping 10 – 100 times that of consumer credit cards!

This shows you can get a lot more funds with small business credit. And it also shows you can have personal credit cards at retail stores. So you would now have an additional card at the same retail stores for your business.

And you will not need collateral, cash flow, or financial data in order to get company credit.

Small Business Credit Cards for New Businesses: Benefits

Benefits vary. So, make sure to choose the perk you would prefer from this choice of alternatives.

Small Business Credit Cards for New Businesses: Credit Builder Company Credit Cards

Discover it® Student Cash Back

Be sure to check out the Discover it® Student Cash Back card. It has no yearly fee. The card also has a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.

One one-of-a-kind feature is that it provides an incentive for students to maintain good grades with a $20 statement credit. If scholars earn a GPA of 3.0 or higher each school year, the card will award the $20 statement credit each year for up to five years.

Details

Use this credit card to build personal credit. While this is a personal credit card versus a company card, for new credit users, their FICO scores will matter. And this credit card provides an outstanding way to raise FICO while also getting rewards.

You can earn 5% cash back at different places each quarter like grocery stores, gas stations, restaurants or Amazon.com up to the quarterly maximum. After that, this credit card offers unlimited 1% cash back on all purchases.

In the initial year, all cash back rewards are matched 100%.

Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is greater. And even though they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html

Reliable Low APR/Balance Transfers Business Credit Cards

Discover it® Cash Back

After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based upon the Prime Rate.

Details

You can earn 5% cash back at different places every quarter. So, these are establishments like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Also, automatically get unlimited 1% cash back on all other purchases.

You will earn an unlimited dollar-for-dollar match of all the cash back you have earned at the end of your first year, automatically.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html

Small Business Credit Cards for New Businesses with 0% APR – Pay Nothing!

Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no yearly fee and comes with a 0% introductory APR on purchases for the initial nine months. After that, the card has a 13.24 – 23.24% variable APR

Earn 3 points/dollar spent when you book travel via the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can get unlimited points and points will never expire.

Details

There is a 25,000-point sign-up bonus when you spend $1,000 within the initial 60 days of starting the account. Cardholders get travel accident insurance, and lost luggage reimbursement.

They likewise get trip cancellation coverage, trip delay reimbursement and other benefits.

There is no introductory rate for balance transfers. Also, bonus categories are limited.

Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/

JetBlue Plus Card

Take a look at the JetBlue Plus Card for another offer of a 0% introductory APR

Earn six points/dollar on JetBlue purchases, two points/dollar at eateries and grocery stores. And get one point/dollar on all other purchases.

Details

Spend $1,000 in the first 90 days and pay the annual fee, and earn 40,000 bonus points. New cardholders receive a 12 month, 0% introductory APR on balance transfers made in 45 days of account opening.

After that, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based on creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.

There is a $99 annual fee for this card.

Get it here: https://cards.barclaycardus.com/cards/jetblue-card/

Secure Business Credit Cards for Average Credit

Capital One® Spark® Classic for Business

For fair credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. The card earns an unlimited 1% cash back on all purchases. There is an annual fee of $0.

But BEAR IN MIND: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines. Get the best small business credit cards for new businesses.

Ironclad Secured Credit Cards

Wells Fargo Business Secured Credit Card

Take a look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000) and it is meant to help cardholders build or rebuild their credit.

Select this credit card if you wish to earn 1.5% per dollar in purchases without any limits or get one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

Details

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a credit card for balance transfers.

Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/

Small Business Credit Cards for New Businesses: Remarkable Business Credit Cards with No Annual Fee

Uber Visa Card

Check out the Uber Visa Card. Uber is the very first ride-sharing service to offer a credit card, in a partnership with Visa and Barclays.

The card offers 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, get 3% back on hotel, airfare and vacation home rentals. And get 2% back on online purchases.

So, this includes retailers and subscription services such as Uber and Netflix. And get 1% back on all other purchases. Each percent/point has a value of 1 cent. Redeem points for cash back, gift cards or Uber credits directly in the app.

By spending a minimum of $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending at least $5,000 per year are eligible to receive a $50 credit toward online subscription services.

Details

If you pay your cellular phone bill with this card, you are insured up to $600 for cellphone damage or theft.

Cardholders are eligible for exclusive access to specific events and offers. Uber anticipates the majority of these offers will be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC. There is no foreign transaction fee.

But there is no introductory rate. The APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with less than stellar credit will be on the higher end of the range.

Get it here: https://www.uber.com/c/uber-credit-card/

Costco Anywhere Visa® Business Card by Citi

Not taking Uber? Then you’ll want to fill your gas tank someway. Why not do so with the Costco Anywhere Visa® Business Card by Citi?

This credit card earns cash back with every purchase. Get 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Earn 3% cash back at restaurants and on eligible travel purchases. Also, earn 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.

Also, there is no sign-up bonus offered with this card.

Get it here: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhere-visa-business-credit-card

Ink Business Cash℠ Credit Card

Have a look at the Ink Business Cash ℠ Credit Card. Small businesses can get cash back with every single purchase. Spend $3,000 in the first three months from account opening. And you’ll earn a $500 bonus cash back.

There is a $0 yearly fee with a 0% introductory APR for 12 months on purchases and balance transfers. Afterwards, the APR is a 15.24 – 21.24% variable.

The card includes travel and purchase coverage benefits. So, this includes an auto rental collision damage waiver and extended warranty protection.

Details

Earn extra cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

Note: this credit card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is more. Also, there is a foreign transaction fee of 3%.

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-cash

United MileagePlus Explorer Business Card

Get a good look at the United MileagePlus Explorer Business Card.

Earn 2 miles/dollar with United and at restaurants, filling stations and office supply stores. All other purchases earn 1 mile/dollar. Earn a 50,000-mile sign-up bonus after spending $3,000 in the initial three months from account opening.

Benefits include priority boarding, a free first checked bag for you and a companion on the same reservation.

Details

Also, get two United Club passes annually. And get hotel and resort perks including upgrades. In addition, get early check-in and late checkout. And get an auto rental collision damage waiver.

After the first year, the card has an annual fee of $95. APR of 17.99% – 24.99%, based on creditworthiness.

Get it here: https://creditcards.chase.com/small-business-credit-cards/united-mileageplus-explorer-business

Starwood Preferred Guest® Business Credit Card from American Express

Another possibility is the Starwood Preferred Guest Business Credit Card from American Express.

This card is for those who stay at Starwood Preferred Guest and Marriott hotels often. Earn six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.

And earn four points per dollar at American restaurants, US filling stations, and on American purchases for shipping.

Also, get four points to the dollar on wireless telephone services purchased directly from US service providers. For all other eligible purchases, earn two points per dollar.

Details

Earn 75,000 bonus points when you spend $3,000 in the first three months of account opening. Benefits include free in-room premium internet access, Sheraton Club lounge access, and purchase protection.

The most significant issue is the yearly fee. There is a $0 introductory annual fee for the first year, then it’s $95 after that. Plus there is no 0% introductory APR. Instead, there is a 17.74 – 26.74% variable APR

Get it here: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/spg-amex-starwood-credit-card

Unbeatable Small Business Credit Cards for New Businesses: Get Jackpot Rewards

Chase Sapphire Preferred® Card

Have a look at the Chase Sapphire Preferred® Card for travel points.

You can get two points per dollar spent on travel and dining at restaurants. And you can earn one point per dollar on all other purchases. Points can be traded in for cash back, gift cards, or travel.

When you spend $4,000 in the initial 3 months from account opening, you will get 50,000 bonus points. These points are worth $625 if you redeem them for travel through Chase Ultimate Rewards.

Details

You can get an unlimited two points per dollar for travel and dining at restaurants. And after that get one point per dollar for all other purchases. Points will transfer equally to 13 leading frequent travel programs with partners. So these include British Airways, Southwest Airlines, United, and Marriott.

Get it here: https://creditcards.chase.com/rewards-credit-cards/chase-sapphire-preferred

Ink Business Preferred ℠ Credit Card

This is a Visa credit card.

Details

Get 80,000 bonus points when you spend $5,000 in the first 3 months from account opening. There is an annual fee of $95. You can add employee cards at no additional cost.

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-business-preferred

Establish business credit fast with our research-backed guide to 12 business credit cards and lines. Get the best small business credit cards for new businesses.

Terrific Cards for Cash Back

SimplyCash Plus Business Credit Card from American Express

Take a look at the SimplyCash Plus Business Credit Card from American Express. There is a $0 annual fee. And there is a 0% APR on purchases So this is for the first 15 months an account is open.

But when the introductory period expires, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.

Details

This credit card has several benefits. These include purchase protection, car rental loss and damage insurance. And they also include a baggage insurance plan, extended warranty coverage and a global assist hotline.

Also, earn 5% cash back at US office supply stores and on wireless phone services. So, these must be purchased from United States service providers. But this applies to the initial $50,000 of yearly spending. Then, you get 1% cash back.

Cash-back bonuses are automatically credited to the customer’s billing statement.

And, it kicks in if you have two or more late payments within 12 months. It can also apply if you fail to make the minimum payment on time or have a returned payment.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279

Capital One® Quicksilver® Card

Take a look at the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards that cardholders can earn. Also, the card has a $0 annual fee.

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. Then afterwards they have a 14.74 – 24.74% (variable) APR after that.

A cash bonus of $150 is available for those who make at the very least $500 in purchases in 3 months of account opening.

Details

Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.

This card also offers travel accident insurance. And you get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.

Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the first 15 months.

Get it here: https://www.capitalone.com/credit-cards/quicksilver/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines. Get the best small business credit cards for new businesses.

Small Business Credit Cards for Luxurious Travel Points

Capital One® Spark® Miles for Business

Be sure to check out the Capital One® Spark® Miles for Business card. With this card, you can get 2 miles per dollar on all purchases. When you spend $4,500 within the first 3 months of opening an account, you can earn 50,000 miles. So, that is worth $500 in travel.

Benefits for cardholders include an auto rental collision damage waiver, and purchase security. And they also include extended warranty coverage. And you get travel and emergency assistance services.

Cardholders will pay $0 introductory for first year. But they will pay $95 after that for the annual fee.

There is no 0% APR for purchases or balance transfers with this card. The APR is 18.74% (variable).

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-miles/

IHG ® Rewards Club Premier Credit Card

Have a look at the IHG ® Rewards Club Premier Credit Card. it earns hotel rewards worldwide. For every dollar spent at participating IHG hotels, get 10 points. Earn two points per dollar spent at gas stations, grocery stores and restaurants.

And all other purchases earn one point. New cardholders can earn an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.

Details

This card provides a free one-night hotel stay each year. Plus there is a wide array of benefits like travel and purchase coverage and an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.

The biggest issue is that the card does not offer a zero percent APR introductory rate. And the standard APR is 17.99 – 24.99% variable. Also, the yearly fee is $89.

Get it here: https://creditcards.chase.com/a1/ihg/premiernaep

Marriott Rewards® Premier Plus Credit Card

This card earns six points/dollar spent at participating Marriott and SPG hotels. And get two points/dollar on all other purchases.

Spend $3,000 in the initial three months from account opening and earn two free night awards (each valued up to 35,000 points).

Cardholders get access to perks including a free one-night stay annually after account anniversary. Also get travel and purchase protection. So, this includes free standard in-room Wi-Fi and priority late checkout.

Details

Spend $35,000 each account year, and be upgraded to Gold Elite status. So, that includes a complimentary room upgrade, free daily breakfast and 4 PM late checkout.

There is an annual fee of $95. The APR is a 17.99– 24.99% variable.

Get it here: https://creditcards.chase.com/marriott/apply

The Best Small Business Credit Cards for New Businesses and You

Your absolute best small business credit cards for new businesses will hinge on your credit history and scores.

Only you can choose which features you want and need. So be sure to do your homework. What is excellent for you could be catastrophic for others.

And, as always, make sure to develop credit in the recommended order for the best, quickest benefits.

The post Check Out Small Business Credit Cards for New Businesses appeared first on Credit Suite.

Amazing Funding for Women Owned Businesses

The Best Funding For Women Owned Businesses

We scoured the internet for the very best funding for women owned businesses. There are a number of fantastic choices which women can make use of today.

Funding for Women Owned Businesses: Collateral-Based Financing

Collateral-based financing offers low rate financing. Personal credit quality and profits don’t determine your approval. Some accepted collateral includes:

Account receivables and purchase orders
401k, IRA, stocks, and bonds
Inventory
Equipment

The idea behind collateral-based funding is that a lender needs an assurance. For the creditor, a great assurance that you will pay back funding is when your property is at risk if you don’t.

Funding for Women Owned Businesses: Cash Flow and Unsecured Financing

Cash flow financing is another great loan program for women, if you’ve been in business one year or more and have $10,000 in monthly revenue.

Unsecured financing is readily available for female small business owners, for up to $150,000. You can get an approval if you have good personal credit, and get 0% intro rates for 6-18 months … even as a startup.

Funding for Women Owned Businesses: The Small Business Administration

The SBA offers some terrific loan programs including their 7( a) loan for working capital. To get approved you’ll have to have:.

3 years of company and personal tax returns
Good personal, business, and bank credit
Collateral for 50-70% of what you’re borrowing

SBA Express

The SBA Express program is a great loan program for women. You can get approved for a loan up to $350,000. Get rates of 4.5-6.5%. Get a line-of-credit good for 7 years. No collateral is required for up to $25,000. There is a turn-around in 36 hours.

SBA’s Women’s Business Centers

They can help you get access to capital. See: https://www.sba.gov/tools/local-assistance/wbc

Funding for Women Owned Businesses: Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)

For women who are also military veterans, the Veterans Women Igniting the Spirit of Entrepreneurship (V-WISE) is an SBA funded program offered by the Institute for Veterans and Military Families which includes online training, a conference that utilizes the unique team spirit of women veterans and female military spouses, and follow-on mentoring through a community of partners.

Funding for Women Owned Businesses: Amber Grants

$1,000 to a different women-owned business each month. At the end of the year, one of the monthly grant winners gets $10,000 more. See: https://ambergrantsforwomen.com/get-an-amber-grant/

Funding for Women Owned Businesses: Alternative Lenders

If you have decent personal credit and tax returns for 2 years that show a profit, alternative lenders have programs that could work. You could be approved with rates of 7% or lower. Lenders will need to see some kind of profit on your tax returns.

There’s also business credit building!

Learn more here and get started toward building business credit.

Funding for Women Owned Businesses: Small Business Credit Building

Business credit is credit in a company’s name. It doesn’t attach to an entrepreneur’s consumer credit, not even if the owner is a sole proprietor and the only employee of the company.

Accordingly, a business owner’s business and personal credit scores can be very different.

The Advantages

Considering that company credit is distinct from individual, it helps to secure a business owner’s personal assets, in the event of court action or business insolvency.

Also, with two distinct credit scores, an entrepreneur can get two different cards from the same merchant. This effectively doubles purchasing power.

Another benefit is that even startup companies can do this. Heading to a bank for a business loan can be a recipe for frustration. But building business credit, when done properly, is a plan for success.

Individual credit scores rely on payments but also various other considerations like credit usage percentages.

But for small business credit, the scores actually merely hinge on if a company pays its bills promptly. It is a terrific source of funding for women owned businesses.

The Process

Growing small business credit is a process, and it does not occur automatically. A business has to proactively work to establish company credit.

Nonetheless, it can be done easily and quickly, and it is much speedier than developing individual credit scores.

Vendors are a big aspect of this process.

Carrying out the steps out of order will cause repetitive rejections. Nobody can start at the top with small business credit. For instance, you can’t start with retail or cash credit from your bank. If you do, you’ll get a denial 100% of the time.

Company Fundability

A small business needs to be fundable to lenders and merchants.

Hence, a company will need a professional-looking website and email address. And it needs to have website hosting from a merchant like GoDaddy.

And also, business telephone and fax numbers need to have a listing on ListYourself.net.

Also, the company phone number should be toll-free (800 exchange or similar).

A business will also need a bank account devoted solely to it, and it must have every one of the licenses essential for running.

Licenses

These licenses all must be in the correct, appropriate name of the company. And they must have the same small business address and telephone numbers.

So keep in mind, that this means not just state licenses, but potentially also city licenses.

Learn more here and get started toward building business credit.

Dealing with the IRS

Visit the IRS website and get an EIN for the small business. They’re free of charge. Pick a business entity like corporation, LLC, etc.

A business can start off as a sole proprietor. But they will more than likely want to change to a form of corporation or an LLC.

This is in order to decrease risk. And it will make best use of tax benefits.

A business entity will matter when it involves tax obligations and liability in case of a lawsuit. A sole proprietorship means the owner is it when it comes to liability and taxes. No one else is responsible.

Sole Proprietors Take Note

If you operate a business as a sole proprietor, then at least be sure to file for a DBA. This is ‘doing business as’ status.

If you do not, then your personal name is the same as the company name. Because of this, you can wind up being directly accountable for all small business financial obligations.

Plus, per the IRS, by having this structure there is a 1 in 7 chance of an IRS audit. There is a 1 in 50 probability for corporations! Prevent confusion and noticeably decrease the odds of an IRS audit as well.

Kicking Off the Business Credit Reporting Process

Start at the D&B website and obtain a totally free D-U-N-S number. A D-U-N-S number is how D&B gets a business into their system, to produce a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.

Once in D&B’s system, search Equifax and Experian’s sites for the company. You can do this at www.creditsuite.com/reports. If there is a record with them, check it for correctness and completeness. If there are no records with them, go to the next step in the process.

This way, Experian and Equifax will have activity to report on.

Vendor Credit Tier

First you must build trade lines that report. This is also called the vendor credit tier. Then you’ll have an established credit profile, and you’ll get a business credit score.

And with an established business credit profile and score you can start to get credit in the retail and cash credit tiers.

These kinds of accounts often tend to be for the things bought all the time, like marketing materials, shipping boxes, outdoor work wear, ink and toner, and office furniture.

But first off, what is trade credit? These trade lines are credit issuers who will give you starter credit when you have none now. Terms are in most cases Net 30, instead of revolving.

So, if you get approval for $1,000 in vendor credit and use all of it, you need to pay that money back in a set term, like within 30 days on a Net 30 account.

Details

Net 30 accounts must be paid in full within 30 days. 60 accounts need to be paid fully within 60 days. In contrast to with revolving accounts, you have a set time when you have to pay back what you borrowed or the credit you made use of.

To launch your business credit profile properly, you ought to get approval for vendor accounts that report to the business credit reporting agencies. Once that’s done, you can then use the credit.

Then repay what you used, and the account is on report to Dun & Bradstreet, Experian, or Equifax.

Vendor Credit Tier – It Helps

Not every vendor can help in the same way true starter credit can. These are merchants that will grant an approval with minimal effort. You also want them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian.

You want 5 to 8 of these to move onto the next step, which is the retail credit tier. But you may have to apply more than one time to these vendors. So, this is to demonstrate you are dependable and will pay promptly. Here are some stellar choices from us: https://www.creditsuite.com/blog/5-vendor-accounts-that-build-your-business-credit/

Retail Credit Tier

Once there are 5 to 8 or more vendor trade accounts reporting to at least one of the CRAs, then progress to the retail credit tier. These are service providers which include Office Depot and Staples.

Just use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, use the business’s EIN on these credit applications.

One example is Lowe’s. They report to D&B, Equifax and Business Experian. They need to see a D-U-N-S and a PAYDEX score of 78 or more.

Fleet Credit Tier

Are there 8 to 10 accounts reporting? Then move to the fleet credit tier. These are companies like BP and Conoco. Use this credit to buy fuel, and to repair, and maintain vehicles. Just use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, make certain to apply using the small business’s EIN.

One such example is Shell. They report to D&B and Business Experian. They want to see a PAYDEX Score of 78 or more and a 411 small business telephone listing.

Shell may say they want a certain amount of time in business or profits. But if you already have adequate vendor accounts, that won’t be necessary. And you can still get an approval.

Learn more here and get started toward building business credit.

Cash Credit Tier

Have you been responsibly handling the credit you’ve up to this point? Then progress to the cash credit tier. These are service providers like Visa and MasterCard. Only use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, use your EIN instead.

One example is the Fuelman MasterCard. They report to D&B and Equifax Business. They want to see a PAYDEX Score of 78 or higher. And they also want you to have 10 trade lines reporting on your D&B report.

Plus, they want to see a $10,000 high credit limit reporting on your D&B report (other account reporting).

In addition, they want you to have an established small business.

These are companies such as Walmart and Dell, and also Home Depot, BP, and Racetrac. These are usually MasterCard credit cards. If you have 14 trade accounts reporting, then these are in reach.

Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and deal with any inaccuracies as soon as possible. Get in the habit of taking a look at credit reports and digging into the details, and not just the scores.

We can help you monitor business credit at Experian and D&B for 90% less than it would cost you at the CRAs. See: www.creditsuite.com/monitoring.

At Equifax, you can monitor your account at: www.equifax.com/business/business-credit-monitor-small-business. Equifax will cost about $19.99.

Update Your Data

Update the information if there are inaccuracies or the info is incomplete.

Fix Your Business Credit

So, what’s all this monitoring for? It’s to contest any mistakes in your records. Mistakes in your credit report(s) can be fixed. But the CRAs generally want you to dispute in a particular way.

Disputing credit report errors commonly means you send a paper letter with copies of any proofs of payment with it. These are documents like receipts and cancelled checks. Never send the original copies. Always send copies and keep the originals.

Fixing credit report errors also means you precisely detail any charges you contest. Make your dispute letter as understandable as possible. Be specific about the issues with your report. Use certified mail so that you will have proof that you mailed in your dispute.

A Word about Building Business Credit

Always use credit smartly! Never borrow beyond what you can pay off. Keep track of balances and deadlines for payments. Paying off on time and fully will do more to boost business credit scores than pretty much anything else.

Growing company credit pays. Excellent business credit scores help a small business get loans. Your lending institution knows the company can pay its financial obligations. They know the business is for real.

The small business’s EIN connects to high scores and lenders won’t feel the need to call for a personal guarantee.

Funding for Women Owned Businesses: Takeaways

Get creative and grab the best funding for women owned businesses around!

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