You Too Can Get a Bad Credit Business Credit Card

Need a bad credit business credit card? Poor personal credit does not have to affect whether you get a business credit card.

The Best Bad Credit Business Credit Card

We researched every bad credit business credit card we could find for you. So, here are our preferences.

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

This demonstrates you can get a lot more money with 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 retailers for your business.

And you will not need collateral, cash flow, or financials to get business credit.Bad Credit Business Credit Card Benefits

Perks can vary. So, make certain to choose the benefit you like from this assortment of alternatives.

Get a Secure Bad Credit Business Credit Card for Average Credit

Capital One® Spark® Classic for Business

For average credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. The card earns 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 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/

Get a Bad Credit Business Credit Card and Build Your Credit

Discover it® Student Cash Back

Make sure to check out the Discover it® Student Cash Back card. It has no yearly fee. The credit card also offers 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 distinct feature is that it offers an incentive for scholars to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or better each school year, the card will award the $20 statement credit every year for up to five years.

Details

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

You can get 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 card offers unlimited 1% cash back on all purchases.

In the first 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

Get a Bad Credit Business Credit Card with a 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 upon the Prime Rate.

Details

You can earn 5% cash back at different places every quarter. So, these are places 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 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

Get an Ironclad Secured Bad Credit Business Credit Card

Wells Fargo Business Secured Credit Card

Look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly 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 meant to help cardholders build or rebuild their credit.

Choose this credit card if you want to earn 1.5% per dollar in purchases without any limits or get 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 credit card for balance transfers.

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

Get a Bad Credit Business Credit Card 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 initial nine months. After that, 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 the account. Cardholders get travel accident insurance, and lost luggage reimbursement.

They additionally 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

Consider 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. So, then you can get 40,000 bonus points. New cardholders receive a 12 month, 0% introductory APR on balance transfers made within 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.

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

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

Get an Extraordinary Bad Credit Business Credit Card 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 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 earn 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 in the app.

By spending a minimum of $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending a minimum of $5,000 annually 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 expects 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. So 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, accrue a minimum of 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, per day.

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

Costco Anywhere Visa® Business Card by Citi

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

This 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). Get 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.

So 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 available 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

Check out the Ink Business Cash ℠ Credit Card. Businesses can get cash back with each 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 yearly fee with a 0% introductory APR for 12 months on purchases and balance transfers. Thereafter, 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

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, gas stations and office supply stores. All other purchases get 1 mile/dollar. Earn a 50,000-mile sign-up bonus after spending $3,000 in the first 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.

And also, 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

Starwood Preferred Guest® Business Credit Card from American Express

Another alternative 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 US purchases for shipping.

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

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 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

Get a Terrific Bad Credit Business Credit Card for Cash Back

SimplyCash Plus Business Credit Card from American Express

Consider the SimplyCash Plus Business Credit Card from American Express. There is a $0 yearly 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 ends, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.

Details

This 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, get 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 get 1% cash back.

You also earn 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 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

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. And then they have a 14.74 – 24.74% (variable) APR after that.

A cash bonus of $150 is available for those who make a minimum of $500 in purchases within 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 an Unbeatable Bad Credit Business Credit Card for Jackpot Rewards

Chase Sapphire Preferred® Card

Check out at the Chase Sapphire Preferred® Card for travel points.

You can earn two points to the dollar spent on travel and dining at restaurants. And you can get 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. Then afterwards 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 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 get 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.

The Perfect Business Credit Cards for You

Your outright best bad credit business credit card will 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 excellent for you could be catastrophic for somebody else.

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

The post You Too Can Get a Bad Credit Business Credit Card appeared first on Credit Suite.

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Check Out Our Reliable Business Credit Card Comparison

The Only Business Credit Card Comparison You’ll Ever Need

We performed a business credit card comparison and did the research for you. So, here are our top picks.

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

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

And you will not need collateral, cash flow, or financial data to get small business credit.

Business Credit Card Comparison: Benefits

Perks can vary. So, make sure to select the benefit you like from our business credit card comparison.

Business Credit Card Comparison: 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 first nine months. Thereafter, 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 earn unlimited points and points will never expire.

Details

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

They additionally 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

Check out the JetBlue Plus Card for one more offer of a 0% introductory APR

Earn six points/dollar on JetBlue purchases, two points/dollar at dining establishments 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 get 40,000 bonus points. New cardholders get a 12-month, 0% introductory APR on balance transfers made in 45 days of account opening.

There is a $99 annual fee for this card.

Get it here: https://cards.barclaycardus.com/cards/jetblue-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 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 earn 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 annually 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 expects most 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 a minimum of 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, per day.

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

Costco Anywhere Visa® Business Card by Citi

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

This 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). Get 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 annual 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 available 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 each purchase. Spend $3,000 in the initial three months from account opening. And you’ll earn 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 features 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 credit card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is greater. 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, 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.

Also, 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

Starwood Preferred Guest® Business Credit Card from American Express

Another alternative 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 American 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, get 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.

The most significant 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

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

Business Credit Card Comparison: Terrific Cards for Cash Back

SimplyCash Plus Business Credit Card from American Express

Check out the SimplyCash Plus Business Credit Card from American Express. There is a $0 yearly 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 ends, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.

Details

Also, get 5% cash back at US office supply stores and on wireless phone services. So, these must be bought from American service providers. But this pertains to the initial $50,000 of annual 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

Check out 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. And after that they have a 14.74 – 24.74% (variable) APR after that.

A cash bonus of $150 is on offer for those who make at the very least $500 in purchases within 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/

Business Credit Card Comparison: 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 for travel points. 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 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/

The Business Platinum® Card from American Express OPEN

Check out the Business Platinum® Card from American Express OPEN if you’re comfortable with an outrageous annual fee. This card earns 5 points per dollar on flights and prepaid hotels booked on the American Express Travel website.

It also gets 2 points per dollar on travel purchases booked on the American Express Travel website.

Furthermore, it gets 1.5 points per dollar on purchases of $5,000 or more. So, this is with up to one million additional points per calendar year. All other eligible purchases earn one point per dollar.

Details

With this card’s welcome offer, you can earn 50,000 bonus points when you spend $10,000. And earn another 25,000 points when you spend an additional $10,000 in that same period.

Cardholder benefits include global lounge access and a $200 airline fee credit. And you get a fee credit for Global Entry or TSA Precheck.

Benefits also include complimentary Wi-Fi hotspot internet access, privileges including early check-in and daily breakfast at participating hotels and resorts. Plus, the card offers travel accident insurance and roadside assistance.

This card does not offer bonus point earnings in other categories like gas, office supplies or advertising. In addition, all of these benefits do not come cheap. Note: the card has a yearly fee of $450!

Get it here: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/american-express-business-platinum-credit-card-amex

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

Chase Sapphire Reserve®

For travel points, check out the Chase Sapphire Reserve® credit card. You can get 3 points/dollar on travel and dining at restaurants and 1 point/dollar on other purchases.

Spend $4,000 in the initial 3 months, and you will earn 50,000 bonus points. This card provides a $300 annual travel credit. And you get airport lounge access, perks at luxury hotels and resorts including upgrades.

It also provides a fee credit for Global Entry or TSA Precheck, early check-in and late checkout. And it provides trip cancellation and interruption insurance, an auto rental collision damage waiver.

Details

Plus, lost luggage reimbursement, trip delay reimbursement, and purchase protection. Finally, it also has return protection and extended warranty protection.

This credit card also offers cardholders a 25% higher points value when redeemed for travel through Chase Ultimate Rewards. With this card, points are worth 50% more when redeemed for travel through Chase Ultimate Rewards.

The biggest issues are the annual fee of $450 and $75 per authorized user. Another point to consider should be that the card has a 17.99 – 24.99% variable APR.

So, consider this one carefully and make sure to read the small print.

Get it here: https://www.chase.com/card-benefits/sapphirereserve/travel

IHG ® Rewards Club Premier Credit Card

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

Plus, all other purchases earn one point. New cardholders can get 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 per year. 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 offer 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 initial three months from account opening and get 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

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

Spend $35,000 each account year and get an upgrade 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

Business Credit Card Comparison: Unbeatable Cards for Jackpot Rewards

Chase Sapphire Preferred® Card

Check out the Chase Sapphire Preferred® Card for travel points.

You can earn two points to the 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.

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

Details

You can earn an unlimited two points per dollar for travel and dining at restaurants. And then 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.

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 initial 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 get 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

Check out 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 awfully 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/

Secure Business Credit Cards for 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.

But KEEP 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/

Reliable Low APR/Balance Transfers Business Credit Cards

Discover it® Cash Back

Check out 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 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 earn unlimited 1% cash back on all other purchases.

You will get an unlimited dollar-for-dollar match of all the cash back you have gotten at the end of your first year. So this is automatic.

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

Credit Builder Company Credit Cards – Make Your Credit Surge!

Discover it® Student Cash Back

Be sure to check out the Discover it® Student Cash Back card. It has no yearly fee. The credit card also offers 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 distinct feature is that it offers an incentive for students to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or better each school year, the card will award the $20 statement credit annually for up to five years. We feel it belongs in any business credit card comparison.

Details

Use this credit card to build personal credit. So this is a personal credit card versus a business credit card. But for new credit users, their FICO scores will be vital. And this card provides an outstanding way to raise FICO while also getting rewards.

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

In the first 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. So this is whichever is greater. And 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

Ironclad Secured Credit Cards

Wells Fargo Business Secured Credit Card

Have 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 establish or rebuild their credit.

Pick this card if you wish 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

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/

Secured cards are a valid part of any business credit card comparison.

Our Business Credit Card Comparison Helps Find the Perfect Business Credit Cards for You

Your absolute best business credit cards hinge on your credit history and scores. Our business credit card comparison should help.

Only you can choose which features you want and need. So, make sure to do your homework. What is outstanding for you could be catastrophic for another person.

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

The post Check Out Our Reliable Business Credit Card Comparison appeared first on Credit Suite.

Wells Fargo Business Platinum Credit Card: What It Is and What It Isn’t

The True Story of What You Can Do with a Wells Fargo Business Platinum Credit Card, and What You Can’t

It can be a bear to figure out which credit cards are worth your time to apply and for and which ones are not. If you like to play the loyalty points and balance transfer game, it can be equally as daunting to figure out which combinations of cards work best for your needs. The Wells Fargo Business Platinum credit card is great for many purposes. It isn’t for everyone though.

To understand if this card is right for you, and how it compares to other cards out there, keep reading.

Check out how our reliable process will help your business get the best business credit cards.

Wells Fargo Business Platinum Credit Card New Customer Perks

Many cards offer a new customer bonus. The Wells Fargo Business Platinum credit card is no different. Currently the offer to new cardholders is a one-time $500 cash back bonus or 50,000 bonus points. That is, if you enroll in their rewards program and spend $3,000 in the first three months. They also offer a $0 rewards fee annually.

Wells Fargo Business Platinum Credit Card Cash Back and Points

The Wells Fargo Business Platinum credit card offers 1.5% cash back on every $1 spent. In addition, you can earn 1 point per $1 and 1,000 bonus points if you spend $1,000 or more in any month. There are no required spending categories or caps.

Users can redeem points for gift cards, merchandise, airline tickets and more. In addition, you can earn a 10% credit by redeeming points online.

Wells Fargo Business Platinum Credit Card Interest Rates

This card offers a 0% introductory rate for first nine months. After that, Interest rates are prime + 7.99% to Prime + 17.99% on purchases. Cash advance rates are prime + 20.74%.

Which Businesses Benefit Most from the Business Platinum Credit Card?

Not all cards work well for all businesses. This card works best for those that meet the following characteristics:

Businesses with annual sales up to $2 million
Those wanting the ability to choose between cash back or points
Businesses that need an easy way to manage business expenses
Those needing to add employee cards. The Wells Fargo Business Platinum credit card allows up to 99 employee cards with no additional fee.

Other Benefits of the Wells Fargo Business Platinum Credit Card

In addition to those already mentioned, this card also boasts the following.

Cash management tools
Spending reports available online
Online banking and bill payment options

How Does the Wells Fargo Business Platinum Credit Card Compare to Other Cards?

It really just depends on what you need and what you qualify for. Here are some other options for comparison purposes.

Discover it® Cash Back

You can earn 5% cash back at different places each quarter. Gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs all qualify. There is a quarterly maximum each time you activate however. On top of that, 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 initial year, automatically.

For this card, your APR will be 14.99% to 23.99% based on creditworthiness and the market rate, which is based on the Prime Rate. Find out more about this card here.

Check out how our reliable process will help your business get the best business credit cards.

Wells Fargo Business Secured Credit Card

This is another Wells Fargo card that may work better for you if the Wells Fargo Business Platinum credit card is not an option. It charges a $25 yearly fee per card (up to 10 employee cards). In addition, it requires a minimum-security deposit of $500 (up to $25,000). It’s designed to help cardholders build or rebuild their credit.

If 1.5% per dollar in purchases with no limits or earn one point for every dollar in purchases sounds like something that would work for your business, this is the card for you. Additionally, you earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

You will also have access to free FICO scores every month. It’s important to note that there are no foreign transaction fees, and it is possible to upgrade to unsecured credit. They will review your account regularly to see if you are eligible for an upgrade to an unsecured card. 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. Since this is a secured card meant for building credit, it is not a good option for balance transfers. Find out more about this option here.

Chase Sapphire Preferred® Card

If you travel, the Chase Sapphire Preferred® Card is a great option. They offer two points for every dollar on dining and travel. Other purchases will earn you one point per dollar. Trade the points in for the regular parade of cash back, gift cards, or travel.

Other 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.

There is no 0% introductory APR on purchases or balance transfers. The card’s standard APR is 17.74 — 24.74% variable. Also, there is an annual fee of $0 introductory for the first year. After that it is $95. Find out more or apply here.

Ink Business Preferred ℠ Credit Card

With this card, cardholders earn 3 points for every dollar spent on travel, shipping, internet, cable, phone and qualifying advertising. The cap on this is $150,000 each year. All other purchases earn an unlimited one point per dollar spent.

In addition, you 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. However, you can add employee credit cards at no additional cost.

One drawback is there is no introductory APR. Find out more and apply for this card here.

Discover it® Student Cash Back

Be sure to look at the Discover it® Student Cash Back card. It has no yearly fee and offers a six-month introductory period of 0% APR on purchases. After six months, there is an APR of 14.99 — 23.99% variable on all purchases.

One exceptional feature is that this card offers an incentive for students to maintain good grades. Those with a GPA of 3.0 or higher each year will get up $20 statement credit. This is good for up to 5 years.

Since it is developed with students in mind, this card is great for building personal credit. Of course, this is different than business credit. However, for new credit users, FICO scores will be important also. This credit card offers 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, the card offers unlimited 1% cash back on all purchases. Also, all cash back rewards are matched 100% the first year.

Drawbacks include a cash advance fee of either $10 or 5% of the amount of every cash advance, whichever is more. 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. Find out more here.

Hilton Honors American Express Ascend Card

This one earns hotel rewards points, so it is best if you spend a lot of time in hotels. Get up to 12 points per dollar of eligible purchases at participating Hilton hotels or resorts.

In addition, you automatically get Hilton Honors Gold status. That means room upgrades when available, and a 5th night free when you book a rewards stay of 5 nights or more.

This credit card has a variable purchase APR of 17.74 — 26.74%. Also, there is an annual fee of $95.

Special offers include a 125,000-point welcome after making $2,000 in eligible purchases within 3 months after opening the account. Additionally, earn a free weekend night award after making $15,000 in eligible purchases on your card in a calendar year.

Check out how our reliable process will help your business get the best business credit cards.

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

Where Do You Start?

This is just a sample of what is out there and I am certain you can already see how hard the choice can be. While some narrowing down is easy, based on things such as spending habits and eligibility, other factors are not so cut and dry.

The first thing you should consider is what is actually available to you. Which cards are you eligible for based on your business income and credit? If you currently are not eligible for the cards you want, you can do a couple of things.

The easiest is to start building your business credit. If you don’t already have business credit, now is the time to make that happen. If you haven’t done the following already, they need to be handled first.

Incorporate as either a Corporation, S-corp, or LLC.
Get an EIN.
Get a D-U-N-S number.
Make sure your business has its own phone number, address, and fax number separate from your personal ones.
Open a separate business bank account.

How Do You Build Business Credit?

After you do these things, you can begin to open tradelines with starter vendors in the vendor credit tier. These are vendors that will give you net terms on invoices, and then they will report your payments to the business credit reporting agencies (CRAs). Find out more about the vendor credit tier and some great starter vendors here.

After there are enough of these vendors reporting on-time payments, your business credit score will be strong enough to start applying for credit cards in your business name. Start with the retail credit tier. These are store specific cards, such as a Staples credit card or a Best Buy card. When you apply, use your business name and contact information along with your EIN. Do not use your name, SSN, or contact information for anything other than identity verification.

As you get more of these cards and use them wisely, you will be able to apply for fleet cards that you can use to manage fuel and auto maintenance expenses. Those would be from companies like Fuelman and Shell.

Lastly, you can apply for cards in the cash credit tier, which is where the Wells Fargo Business Platinum credit card falls. Other general, non-store associated cards fall into this category as well.

Is the Wells Fargo Business Platinum Credit Card Best for Your Business?

It depends on what you are looking for and what you are eligible for. If the rewards with the Wells Fargo Business Platinum credit card fit your spending habits, and if you are eligible, then yes, this card may be right for you.

It can help to choose a few of the best cards that you may qualify for, and make a list of their pros and cons. Maybe the rewards are perfect for you, but there is an annual fee. Try to evaluate your spending to determine if the rewards will make the annual fee worth it. Will you earn more than the annual fee in cash back or points?

If you need to do some work on your business credit before you are eligible for approval, there are other options. Do some research, and in the meantime follow the steps outlined above to get your business credit score up to par.

It really is a balancing act between what you need rewards wise and what you actually qualify for. Take some time to evaluate these things, do some research, and find the card that will work best for your business. It may be the Wells Fargo Business Platinum credit card, but it may be something else entirely.

The post Wells Fargo Business Platinum Credit Card: What It Is and What It Isn’t appeared first on Credit Suite.

The Best Small Business Credit Card of 2019 for Any Situation

fwistAnd How to Be Sure You are Eligible for the Best Small Business Credit Card for Your Situation When you start wondering what the best small business credit card is, you may be surprised to find out that answer actually can vary. What may be the best credit card for one business may not necessarily … Continue reading The Best Small Business Credit Card of 2019 for Any Situation

The Best Small Business Credit Card of 2019 for Any Situation

fwistAnd How to Be Sure You are Eligible for the Best Small Business Credit Card for Your Situation

When you start wondering what the best small business credit card is, you may be surprised to find out that answer actually can vary. What may be the best credit card for one business may not necessarily be the best small business credit card for another. It all depends on the business and the situation. For example, a business owner that does a lot of travel for his or her business is going to need a different card than one that has a whole fleet of automobiles to manage but doesn’t travel much.

We have done some research to help you find the best small business credit card to fit your specific needs.

Best Small Business Credit Card When You Want 0% APR

Capital One® Quicksilver® Card

This card features flat-rate rewards of 1.5% on all purchases, and there are no limits on cash back rewards. In addition, there is no yearly fee.

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after starting the account. Afterwards, the rate increases to 14.74 to 24.74% (variable). A cash bonus of $150 is available for those who make at least $500 on purchases within 3 months of account opening.

Also, cash back rewards do not expire for the life of the account. Other benefits include travel accident insurance and an auto rental collision damage waiver. Find out more by going here.

Best Small Business Credit Card When You Want No Annual Fee

Capital One® Spark® Classic for Business

Try the Capital One Spark Classic for Business. It earns an unlimited 1% cash back on all purchases, and you still get the benefits of an auto rental collision damage waiver and purchase security. You also get extended warranty coverage, as well as travel and emergency assistance services.

However, the ongoing APR is 24.74% variable. The penalty APR is even higher at 31.15%. Another drawback is that there is no sign-up bonus. Find out more here.

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

Best Small Business Credit Card for Students

Discover it® Student Cash Back

Okay, full disclosure. The Discover it® Student Cash Back card is not a business credit card. It’s a personal card, therefore your credit activity is reported on your personal credit and not your business credit. However, as a student, building your FICO will be important to your future as a business owner.

There is a six-month introductory period of 0% APR on purchases. After that, there is an APR of 14.99 to 23.99% variable on all purchases.

One special feature is that it provides an incentive for students to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or higher each school year, they get a $20 statement credit per year for up to five years.

You can get 5% cash back at different places each quarter like grocery stores, filling stations, restaurants or Amazon.com up to the quarterly maximum. After that, the credit card offers unlimited 1% cash back on all purchases. Also, in the first year, all cash back rewards are matched 100%.

Although 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. Find more information here.

Best Small Business Credit Card for Mileage Rewards

United MileagePlus Explorer Business Card

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

Benefits include priority boarding, a free first checked bag for you and a companion on the same reservation. Also, get two United Club passes annually. Hotel and resort perks, including upgrades, are available as well. Additionally, get early check-in and late checkout. An auto rental collision damage waiver is also a benefit.

After the first year, the card has an annual fee of $95. The APR is 17.99% to 24.99%, based on creditworthiness. Find out more here.

Best Small Business Credit Card if You Have Average Credit

Capital One® Spark® Classic for Business

For fair credit, we like the Capital One Spark Classic for Business. It has no yearly fee and cash-back rewards of unlimited 1% cash back on all purchases. Benefits include an auto rental collision damage waiver and purchase security. In addition, extended warranty coverage as well as travel and emergency assistance services are included. Find out more here.

Best Small Business Credit Card if Luxurious Travel is Your Thing

Chase Sapphire Preferred® Card

Earn two points per dollar spent on travel and dining at restaurants, and one point per dollar on all other purchases. Points can be redeemed for cash back, gift cards, or travel. Benefits include trip cancellation insurance, travel and emergency assistance services and an auto rental collision damage waiver. Purchase protection and extended warranty protection are also included.

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

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

Unfortunately, there is no 0% introductory APR on purchases or balance transfers. The card’s standard APR is 17.74 to 24.74% variable. In addition, while there is no annual fee the first year, after that it is $95. Go here for more information.

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

Best Small Business Credit Card if You Love Uber

Uber Visa Card

Uber is the 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. That includes UberEATS orders. Also, earn 3% back on hotel, airfare and vacation home rentals. You can also earn 2% back on online purchases including retailers and subscription services like Uber and Netflix.

Additionally, you’ll earn 1% back on all other purchases. Every percent/point has a value of 1 cent. Redeem points for cash back, gift cards, or Uber credits directly within the app.

There is no yearly fee, and by spending at least $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending a minimum of $5,000 yearly are eligible to get a $50 credit toward online subscription services.

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

While they note cardholders have 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. If you aren’t in those cities, that perk may not be one you are interested in.

There is no introductory rate, and the APR is a variable 16.99%, 22.74%, or 25.74%, based on your creditworthiness. Cardholders with lower credit will be on the higher end of the range.

Also, there are restrictions on Uber credits. To redeem points as credits within the Uber app, you must have at least 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, in a given day. Find out more here.

Best Small Business Credit Card for When You Want to Build Business Credit

This is where it gets a little tricky. The thing is, the only way a card can help you build business credit is if you get it on the merits of your business credit. That means you have to apply with your business information, not your own. It also means you must already have some semblance of business credit to gain approval. Any card in your business name that you handle responsibly will definitely help build existing credit even stronger. However, you cannot get a card to build business credit without already having a business credit score.

How Do You Establish a Small Business Credit Score?

The truth is, any of these best small business credit card options will work to build business credit, but they will all want to see a business credit score before they grant approval. How do you get a business credit score without having credit to begin with? There is a very specific process, and if you follow it, it works like a charm.

It starts with establishing your business as a separate entity from yourself that appears fundable to lenders. How does that happen? Well, first your business needs its own contact information. It’s tempting in the beginning to just use your own address and phone number, but it isn’t wise. Those are identifying factors related to you personally, so anything attached to them will end up on your personal credit report rather than your business credit report.

Other Ways to Make Your Business Appear Fundable to Lenders

Formally incorporate. You need to organize your business as a corporation, S-corp, or LLC. Start at gov.
Get an EIN. It works like an SSN, but for your business. You can get one for free on the IRS Be sure to use it instead of your SSN when applying for business credit cards.
Get a separate business bank account.
Make sure you have a useable, professionally put together website. Pay for hosting, as the free hosting services make you look unprofessional. Along the same lines, be sure your business email address has the same URL as your website. Free email services such as Yahoo or Gmail are not appropriate for this purpose.
Get a D-U-N-S number. This is how you establish your record with Dun & That’s important, because they are the largest and most commonly used business credit reporting agency. If you do not have a D-U-N-S number, you cannot have a business credit score with them. It is free to get one on the Dun & Bradstreet website.

Once these things are taken care of, it’s time to start building that business credit score.

Work Through the Credit Tiers

When it comes to building business credit, there are 4 tiers that you must work through. Most often, whatever the best small business credit card is for your needs, it will be in the top tier, known as the cash credit tier.

Before you can qualify for credit in this tier however, you must work through the other tiers. What are the other tiers? I am so glad you asked.

Vendor Credit Tier

This tier is where you will find starter vendors that will extend invoices with net terms without a credit check. You may have to place a few orders with them first, and there may be some minimum time in business or income requirements, but credit will not come into the picture.

Once you get net terms and start making payments, these starter vendors will report those payments to the credit reporting agencies, also knowns as CRAs. If you have set up your business as a separate entity and set up your vendor account with your business information, they will report your payments to the business CRAs. As more and more accounts are reporting, your business credit score will grow and you will be eligible to apply for credit in the other tiers.

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

The Retail Credit Tier

This is where you find store specific cards. They like to see a minimum business credit score, which is why you apply for them after the vendor credit tier. The vendor credit tier is how you establish that initial score. You’ll need to get 8 or so of these accounts reporting your payments to the business CRAs before you can start applying for cards in the next tier.

The Fleet Credit Tier

These are the cards that help you manage fuel and auto maintenance and repair costs. They come from companies like Fuelman and Shell. You’ll need several of these reporting payments along with the cards from the retail credit tier before you can move on to the cash credit tier.

The Cash Credit Tier

This is where pretty much every best small business credit card mentioned above will be found. As you work through the other tiers your credit score will build like a snowball rolling downhill. If you manage your credit properly, you’ll have a strong score that will qualify for any of these cards. It takes time, but if you want the best small business credit card for your business, you must build business credit.

Don’t Let the Best Small Business Card for You Slip Through Your Fingers

If you already qualify for cards in the cash credit tier, then use our research above as a starting point for your own research. If you need to build business credit first, follow our proven process and you will be eligible for any of these cards when the time comes.

The post The Best Small Business Credit Card of 2019 for Any Situation appeared first on Credit Suite.

Get an Amazing Building Business Credit Card

Get the Best Building Business Credit Card

We checked out every building business credit card we could find and did the research for you. So, here are our preferences.

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

This reveals you can get a lot more money with small business credit. And it also means you can have personal credit cards at retail stores. So, you would now have an extra card at the same stores for your business.

And you will not need collateral, cash flow, or financials to get small business credit.

Building Business Credit Card Advantages

Perks vary. So, make sure to choose the perk you would prefer from this array of options.

Building Business Credit Cards – Make Your Credit Surge!

Discover it® Student Cash Back

Be sure to check out the Discover it® Student Cash Back card. It has no yearly fee. The credit 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 special feature is that it provides an incentive for students to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or higher each school year, the card will award the $20 statement credit annually for up to five years.

Details

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

You can get 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 more. And 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

Secure Business Credit Cards for Average Credit: A Great Alternative to a Building Business Credit Card

Capital One® Spark® Classic for Business

But KEEP 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/

Ironclad Secured Credit Cards: A Consideration When Looking at a Building Business Credit Card

Wells Fargo Business Secured Credit Card

Have a look at the Wells Fargo Business Secured Credit Card. It charges a $25 annual fee per 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 build or rebuild their credit.

Select this card if you wish to get 1.5% per dollar in purchases without any limits or earn 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 card for balance transfers.

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

Reliable Low APR/Balance Transfers Business Credit Cards: Important Considerations When Choosing a Building Business Credit Card

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 on the Prime Rate.

Details

You can get 5% cash back at different places each quarter. So, these are places 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 get unlimited 1% cash back on all other purchases.

You will get 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 with 0% APR – Pay Absolutely Nothing! Good Accompaniments to a Building Business Credit Card

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 initial nine months. Afterwards, the card has a 13.24 – 23.24% variable APR

Earn 3 points/dollar spent when you book travel with the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can earn unlimited points and points 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 also get trip cancellation coverage, trip delay reimbursement and other perks.

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

Check out the JetBlue Plus Card for another offer of a 0% introductory APR

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

Details

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

Thereafter, 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/

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

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 earn 2% back on online purchases.

So, this includes retailers and subscription services like 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 within the app.

By spending at least $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending at least $5,000 yearly 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 specific events and offers. Uber anticipates the majority of these offers to 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 within the Uber app, accumulate at least 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, per day.

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

Costco Anywhere Visa® Business Card by Citi

Not taking Uber? Then you’ll need to fill your gas tank somehow. 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

Check out the Ink Business Cash ℠ Credit Card. Small businesses can earn cash back with every purchase. Spend $3,000 in the first three months from account opening. And you’ll get 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 credit card features 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

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.

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. There’s an 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 choice 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. Get six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.

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

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

Details

Get 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 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

Terrific Cards for Cash Back: A Complement to a Building Business Credit Card

SimplyCash Plus Business Credit Card from American Express

Check out 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

Also, earn 5% cash back at US office supply stores and on wireless telephone services. So, these must be bought from American service providers. But this applies to the initial $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 card for balance transfers. There is a foreign transaction fee of 2.7%. The card charges up to $38 in late fees. And the returned check fee is also $38. The penalty APR is 29.99%.

And, it applies 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

Check out 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 yearly 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.

Unbeatable Cards for Jackpot Rewards: For When You Graduate from a Building Business Credit Card

Chase Sapphire Preferred® Card

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

You can get two points to the 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 first 3 months from account opening, you will earn 50,000 bonus points. These points are worth $625 if you redeem them for travel through Chase Ultimate Rewards.

Details

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

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

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

Details

Cardholders can get a 125,000-point welcome offer after making $2,000 in eligible purchases in 3 months from account opening. Earn 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.

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

The Best Building Business Credit Card for You

Your outright best building business credit card 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 disastrous for someone else.

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

The post Get an Amazing Building Business Credit Card appeared first on Credit Suite.

4 Reasons Your Business Needs a Card to Build Small Business Credit History

What is Small Business Credit History and Why Do You Need It?

In the excitement of starting a business, and then the ensuing chaos of running a business, many business owners do not consider that they need to actively build small business credit history. It is likely in fact, that if they stopped a minute to think about it, they would find that they imagine it is building on its own in the daily course of things. After all, you do not have to do anything to establish a personal credit history. You simply get credit, make payments (or not), and your personal credit history builds as a function of the financial choices you make.

This is not how it works with business credit. In fact, unless you make some very active, purposeful choices, it is possible to own and run a business for years and never build business credit. It’s unfortunate as this can be a tragic mistake for your business. The problem is, most business owners do not even realize it is something they need to be doing. They do not know that to build small business credit history, they have to actively work toward it. If they do know, they do not understand how important it is.

We are going to answer both questions. First, why is it important? Next, how on earth do you do it?

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

4 Reasons Why You Need to Build Small Business Credit History

While it isn’t hard to imagine why credit history itself is important, it can be difficult to grasp why a business needs to build small business credit history separate from that of its owner. Here are just four reasons why.

Protect Your Personal Finances

The greatest benefit to the business owner is that when a business has a credit history of its own, the owner’s personal finances are better protected. You might think that if business debt is in the business name, you as the owner are not liable for it. That is not the case, unless you follow some very specific steps.

The truth is, some lenders will hold you liable anyway. There are a number of lenders however, especially credit card companies, that will extend debt to the business alone if it is set up as a funable entity. In these cases, the owner’s credit will not change in relation to what happens with that debt. The account will only show up on the business credit report.

Allow for Better Rates and Terms

As I said before, some check personal credit no matter what. However, if you do not have great personal credit, but your business credit is good, you may be able to negotiate for better terms and rates despite a lower personal credit score. It will not protect your personal credit completely, but it can still do you some good.

Increased Borrowing Capacity

Businesses have a greater credit capacity than individuals for a number of reasons. The main reason is the increased income from business activities. This is important, as the credit needs of a business are significantly higher than those of individuals.

Trying to finance a business on personal credit capacity is dangerous. Business spending is much higher than personal spending by nature, and personal credit limits are much lower than business credit limits. Often, personal credit can’t hold up to business spending. If it can, then balances hover at or near credit limits, causing a high debt-to-credit ratio and thus a lower personal credit score even if you make payments on time.

Increase the Value of Your Company

Even if you are not thinking of selling your company, ever, you never know what can happen. If you build your business credit score now, it will go with your company even if the business changes owners. Anyone who buys your company will also get its credit history and benefit from the hard work you put into building it.

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

How Do You Build Small Business Credit History?

Now that you understand why you need to do it, you need to know how to build business credit. It takes time. It’s a process. The first step is to separate your business from yourself. This will ensure your business accounts are reporting to your business credit history and not your personal credit history.

Business credit is credit in a business’s name. It doesn’t link to a business owner’s individual credit, not even when the owner is a sole proprietor and the only employee of the company.

Build Small Business Credit History: Incorporate Your Business

The best place to start is at the beginning. However, if you are already up and running, it’s never too late. The first thing you must do is formally incorporate your business. This means organizing as a corporation, S-corp, or LLC.

The option you choose will depend on a number of variables specific to you and your business. The two main questions to ask yourself are:

How much personal liability protection do you want or need?
How much do you want to spend to incorporate?

Each option offers different levels of protection and expense, so it just depends on which one works best for you and your business. They each offer the separation you need to build small business credit history.

Build Small Business Credit History: Separate Contact Information

Your business absolutely must have an address, phone number, and email address that is different from yours as the owner. The phone number should be through a toll-free exchange and listed in the 411 directories. Do that here. Your email address cannot be from a free service. That will not work. You need to have an email address that has the same URL as the business website.

Speaking of websites, yes, you need one for your business. Not only that, but it needs to be a good one. If it looks sloppy or unprofessional, it could do more harm that good. Hire a professional to ensure it is done properly, and spring for paid hosting with someone like GoDaddy. Free hosting does not look professional.

Build Small Business Credit History: Separate Bank Account

Your business needs a business bank account. Running business income and expenses through your personal accounts can cause a host of problems. Tax time can be especially daunting when you have to separate business expenses from personal ones. Beyond that however, many vendors and credit card companies require a business bank account before they will extend business credit.

Build Small Business Credit History: Identifying Numbers

There are two identifying numbers that your business will need to build business credit history. The first is an EIN. This is an identifying number for your business similar to how social security numbers function for individuals. Get it for free on the IRS website.

Next, your business needs a D-U-N-S number. This one comes from Dun & Bradstreet. It is free as well, but they will try to sell you a ton of other services while you on their site. You do not need anything else. Just get the free number.

Without this number you cannot have a credit file with Dun & Bradstreet. Since they are the largest and most commonly used business credit reporting agency, you definitely need to have the number.

Build Small Business Credit History: Get Accounts Reporting

The next obstacle to overcome is how to get accounts reporting. This one seems hard on the front end, but truly it isn’t once you know the secret. That secret is the vendor credit tier.

Vendor Credit Tier

First you must build tradelines 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 acquire credit in the retail and cash credit tiers.

These vendors sell the things you already buy all the time, like marketing materials, shipping boxes, outdoor workwear, ink and toner, and office furniture. Many of them will extend net terms on invoices without a credit check, and then report those payments to the business credit reporting agencies.

These are merchants that grant an approval with very little effort. 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. This is to prove you are responsible and pay on time. Here are some of the most commonly known and easiest vendors to get started with in the vendor credit tier. They are known as starter vendors.

Uline

This is a true starter vendor that sells shipping, packing, and industrial supplies. You have to have a D-U-N-S number. So Uline will ask for 2 references and a bank reference. The initial few orders may have to be prepaid to first get approval for Net 30 terms.

Quill

This is another starter vendor. They sell office, packaging, and cleaning supplies. So they also report to D&B and Experian.

Since Quill reports to two separate credit reporting agencies, you get two credit experiences with them. Place an initial order first unless the D&B score is developed. In most cases they put you on a 90-day prepayment schedule. If you order items monthly for 3 months, they usually approve you for a Net 30 Account.

Grainger Industrial Supply

Grainger sells safety equipment, plumbing supplies, and tools. They report to D&B, and you need a business license, EIN, and a D-U-N-S number.

For less than a $1000 credit limit they approve almost anyone with a business license.

Retail Credit Tier

Once there are 5 to 8 or more vendor trade accounts reporting to at least one of the business credit agencies, then move onto the retail credit tier. These are credit cards connected to specific businesses like Office Depot and Lowes.

Fleet Credit Tier

After the retail credit tier comes the fleet credit tier. These are businesses such as BP and Conoco. Use this credit to buy fuel, as well as to fix and maintain vehicles.

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

Cash Credit Tier

After the fleet credit tier comes the cash credit tier. These are service providers like Visa and MasterCard that are not attached to a specific store.

The thing about trade accounts in the vendor credit tier and the credit cards in the retail, fleet, and cash credit tiers is that they report to the business credit reporting agencies (CRAs). Not all lenders will do that. You definitely need to work through the tiers with the credit card companies if you are going to build small business credit history. This is the only way to do it.

Keep an Eye on Your Credit History

You’ll want to watch both your business credit reports and your personal reports to make sure accounts are reporting on the right one. While you are at it, keep an eye out for mistakes, and keep information updated.

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

Your Business Needs a Card to Build Small Business Credit History

Now you understand what business credit is and why you need it. Why though, do you need a credit card to build small business credit history? Here’s why. First, it will build faster with a credit card. Building business credit with vendor accounts only would be extremely slow.

Term loans rarely help build business credit as most lenders do not report to business credit agencies. They typically only pay attention to the owner’s personal credit, though they may take business credit into account if it can help secure the loan.

Some alternative lenders will report to the business credit agencies, but they will not extend credit unless you already have a solid business credit score. That makes it hard to use them to build business credit. The key to being able to build business credit history lies with the vendor credit tier and business credit cards.

The post 4 Reasons Your Business Needs a Card to Build Small Business Credit History appeared first on Credit Suite.

Is a Sam’s Business Credit Card Good for Your Business? It Depends

How and When a Sam’s Business Credit Card is a Good Option for Your Business It can be difficult to choose which business credit cards to use. There are so many options, and they all have varying benefits. It takes time and thought to figure out which ones will work best for your business and … Continue reading Is a Sam’s Business Credit Card Good for Your Business? It Depends

Is a Sam’s Business Credit Card Good for Your Business? It Depends

How and When a Sam’s Business Credit Card is a Good Option for Your Business

It can be difficult to choose which business credit cards to use. There are so many options, and they all have varying benefits. It takes time and thought to figure out which ones will work best for your business and its needs. Where does the Sam’s Business Credit Card fall on the spectrum of being good for your business?

The answer to that question is widely dependent on a number of variables. The first is, do you shop at Sam’s? The card offers a lot of great benefits, but most are brand specific. If you do most of the shopping for your business at Sam’s, then you are good to go. However, if you do not shop at Sam’s a great deal already, it is likely not the best option.

Another question to ask yourself is, are you trying to build business credit? If so, there are other options that will work better. The Sam’s business credit card only reports to the personal credit reporting agencies (CRAs). These include Experian, Equifax, and Transunion.

It can also help to compare the Sam’s Business credit card to other business credit cards. To do that, you first have to know exactly what you are getting when you get a Sam’s credit card.

Check out how our reliable process will help your business get the best business credit cards.

What Does the Sam’s Business Credit Card Offer?

One of the biggest perks to the Sam’s Business credit card is the cash back. You get 5% cash back on gas worldwide including at Sam’s Club. This is capped at the first $6,000. After that you get 1%. You also can earn 3% back on dining and travel and 1% on other purchases.

Another perk is that there is no annual fee, but you do have to have a membership to Sam’s Club. The membership does have an annual fee.

There is a variable APR of 14.90% -22.90% and a 3% foreign technology fee. The penalty APR goes up to 29.9% and is also variable. Late fees and returned payment fees are up to $39.99.

Here’s the thing, while the Sam’s Club card is probably not a bad thing to have if you shop at Sam’s often anyway, making the membership worth it, there are other options that work just as well or maybe even better depending on what you need. There isn’t anything particularly fabulous about the rewards or interest rates with the Sam’s Club Business credit card.

What Are Some Alternatives to the Sam’s Business Credit Card?

There are hundreds of choices for business credit cards, and each one has its own pros and cons. You have to do your own research to make the best decision for your business. However, we have put together some information on some that we consider to be the best to get you started with your comparison to the Sam’s Business credit card.

Capital One® Quicksilver® Card

Take a look at the Capital One® Quicksilver® Card. It features flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards that cardholders can attain. 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. After that, they have a 14.74 — 24.74% (variable) APR. A cash bonus of $150 is available for those who make a minimum of $500 on purchases within 3 months of opening an account.

Also, cash back rewards do not expire for the life of the account, with no limit to how much you can earn. A cash bonus of $150 is offered to cardholders who make a minimum of $500 in purchases within 3 months of account opening.

Drawbacks include the increase in interest rate after 15 months and the flat rate for rewards.

JetBlue Plus Card

The JetBlue Plus Card also has a 0% introductory APR. You can earn six points per dollar on JetBlue purchases, two points/dollar at eateries and grocery stores, and one point/dollar on all other purchases.

If you spend $1,000 in the first 90 days and pay the annual fee, you get 40,000 bonus points. New cardholders receive a 12 -month, 0% introductory APR on balance transfers made within 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 your credit score. The annual fee is $99.

Capital One® Spark® Classic for Business

The Capital One Spark Classic for Business offers decent cash-back rewards as well. The card earns an unlimited 1% cash back on all purchases. You also get benefits including an auto rental collision damage waiver and purchase security.

The ongoing APR is 24.74% variable, with the penalty APR even higher at 31.15%. Also, there is no sign-up bonus.

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

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

There is a 25,000-point sign-up bonus when you spend $1,000 in the first 60 days of opening the account. The card has no annual fee and comes with a 0% introductory APR on purchases for the first nine months. After that, the card has a 13.24 — 23.24% variable APR. There is no introductory rate for balance transfers with this card, and bonus categories are limited.

Uber Visa Card

Did you know Uber has a credit card? It’s the first ride-sharing service to offer such a thing. The Uber Visa Card is in partnership with Visa and Barclays. It provides 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, get 3% back on hotel, airfare and vacation home rentals. You can even earn 2% back on online purchases.

This includes retailers and subscription services like Uber and Netflix. Cardholders earn 1% back on all other purchases. Each point has a value of 1 cent. You can redeem points for cash back, gift cards or Uber credits directly within the app.

By spending at least $500 in the initial 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.

One major perk is if you pay your cellular phone bill with this card, you are insured up to $600 for cellphone damage or theft. Cardholders are also eligible for exclusive access to specific events and offers. Uber anticipates most of these offers to be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC, so this benefit is more relevant if you live in or often visit these cities.

There is no foreign transaction fee, but there is also no introductory rate. The APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with lower credit scores 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, accrue a minimum of 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, in a given day.

Costco Anywhere Visa® Business Card by Citi

You can’t truly do a comparison with Sam’s Business credit card without including the Costco counterpart. The Costco Anywhere Visa® Business Card by Citi 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. In addition, you can get 2% cash back at Costco and Costco.com, and 1% cash back on all other purchases. There is no annual fee, but of course you must have a Costco membership. There is no sign-up bonus.

Check out how our reliable process will help your business get the best business credit cards.

United MileagePlus Explorer Business Card

If you travel a lot and are interested in earning miles, look at the United MileagePlus Explorer Business Card. Earn 2 miles per dollar with United Airlines and at restaurants, gas stations and office supply stores. All other purchases earn 1 mile per dollar. There is a 50,000-mile sign-up bonus if you spend $3,000 in the first three months after account opening. Benefits include priority boarding, and a free first checked bag for you and a companion on the same reservation.

In addition, you get two United Club passes annually. There are also upgrade options and other perks at hotels and resorts.

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

Ink Business Cash℠ Credit Card

The Ink Business Cash ℠ Credit Card is also a viable option. Small businesses can earn cash back with every purchase. Spend $3,000 in the first three months from account opening and earn a $500 in bonus cash back. You can also earn additional cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

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.

Capital One® Spark® Classic for Business

If your credit is just ok, Capital One Spark Classic for Business could be a good option. It has no annual fee, and there are even still cash-back rewards. The card earns an unlimited 1% cash back on all purchases. There is no annual fee.

There is no sign-up bonus, and the ongoing APR is 24.74% variable APR. The penalty APR is even higher at 31.15%.

Wells Fargo Business Secured Credit Card

If your credit is less than okay, consider the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per card. It also requires a minimum security deposit of $500 (up to $25,000) and it is intended to help cardholders establish or rebuild their credit.

You can choose between 1.5% per dollar in purchases with no limits, or earning 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.

In addition, you get your FICO score for free each month so you can watch as your score improves. They also regularly review accounts, and it is possible to upgrade to an unsecured card as your score improves.

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. Balance transfers are not an option either.

Check out how our reliable process will help your business get the best business credit cards.

Factors to Consider When Choosing a Credit Card

There are many factors to consider when determining which of these, or if some other card, is best for your business. First, you have to take your credit score into account. If your score isn’t very good, you will not have any many options. Then, you need to consider what your goals are. Do you want a card that earns lots of rewards, or do you want the best interest rate?

Lastly, consider your spending habits. You need a card that will first, support your spending habits. In addition, it would be nice if the perks offered reward your specific spending habits.

Is the Sam’s Business Credit Card Right for Your Business?

This is a fine card if you are already a Sam’s Club member. The benefits are respectable, and the interest rates are comparable. However, if you are not already a Sam’s Club member, it probably isn’t worth becoming one just to get this card. There are a lot of other options available that are just as good, if not better, and that do not require a membership. Look around and see what you can find that may better suit your needs.

Remember, if you are looking to build business credit, you will need to find business cards that report to the business credit reporting agencies. These include Dun & Bradstreet, Experian Business, and Equifax Business. The Sam’s Business credit card definitely does not do this.

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