Tag: credit

How The Best Business Line of Credit Can Help You Grow Your Business

A Business Line of Credit is Like Steroids for Your Business

A business line of credit can be an incredible tool for your business. You don’t want just any line of credit however. You want the best business line of credit for your business needs.

Not all businesses are the same, and not all lines of credit are best for all businesses. Different limits, rates, and terms work better for some than others.

What’s a Line of Credit?

It can help to get a quick rundown of exactly what a line of credit is. The most basic definition is that it is a revolving line of credit, similar to a credit card. You have a limit and continuous access to that limit while making payments only on the portion you use each month.

For example, if you have a $10,000 line of credit, you can use however much of those funds you need each month for whatever you want, unless your lender issues some sort of restriction. If you use $2,000, then when you get your statement you will have to pay $2,000 plus the interest, rather than a payment plus interest on the entire amount of the loan.

If you were to pay $1,000, then spend another $500, you would pay on the $1,500 balance the next month. Your payments change as your balance changes. Just like with a credit card.

Access is most typically granted through checks or a card connected to the line of credit account.

The Best Business Line of Credit vs. Credit Cards

Business owners often ask what the difference is between a line of credit and a credit card, and why is one better than the other? The truth is that in some cases, a credit card may be the better option. This is a choice to make based on several different factors.

The main difference between the two that most borrowers need to know is that a line of credit typically has a lower consistent interest rate.  Also, there are no perks like 0% interest or cash back that you sometimes see with credit cards.

How do I Find the Best Business Line of Credit for my Business?

There are several steps to this process.

1. Consider why you need a credit line.

This is the crux of how you find the best business line of credit for your needs. You have to know your needs. Here are some examples how a business may use a line of credit.

  • Take advantage of a sale on inventory, raw materials, or supplies. This can reduce cost of goods sold and consequently, increase the bottom line.
  • Purchase or repair minor equipment when needed. This would be like a new printer or laptop, not an industrial oven, freezer, delivery truck, or a large machine used in a plant of some sort. Larger equipment would best be purchases with an equipment loan.
  • Bridge temporary cash gaps or continuous, known cash gaps due to timing issues. An example of this would be several bills that are due at the beginning of the month when you know your largest contracts pay at the end of the month. The money is coming, it is reliable, but the bills come due before the money comes. You can pay the bills with the line of credit, then pay off the line of credit when the contracts pay.

Another example of this is a seasonal line of credit for a business that does the majority of its sales during a certain time of the year.  A florist does a large percentage of sales during Valentines day, so a seasonal line of credit can come in handy to bridge the cash gap during other times of the year.

2. Find out what is available.

Shop around with various financial institutions to determine which ones offer the best business lines of credit. You will want to look at factors such as interest rate and credit limit in relation to what you need and can afford.

Check with various types of lenders to get a feel for which ones offer what you need.  Check with larger commercial banks, small local institutions and credit unions, and alternative lenders such as those that operate exclusively online.

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

3. Know your business credit.

Your ability to get approval for the best business line of credit will be directly related to your business credit. While lenders may also consider income and cash flow, they are going to rely most heavily on your business credit score when making an approval decision about a line of credit.

A lower business credit score does not necessarily mean you can’t get approval, but it could greatly affect your interest rate and credit limit.

Consider signing up for a credit monitoring service that lets you keeps tabs on your business credit and what is affecting it each month. The one offered by CreditSuite.com is easy to use and cost effective.

Once you have a handle on why you need a business line of credit, what is available, and what you may actually be eligible for, you can make a decision as to where you are going to apply and which product you are going to apply for.

Determining which of these lenders is offers the best business line of credit for your business goes back to knowing what you need, who has it, and who will approve you for it.

When Is a Line of Credit Better than a Credit Card?

If you are going to need to make payments, a line of credit is a better option. There reason is pretty simple. The credit rate is almost always lower. The few exceptions are those cards that offer 0% APR for a short period of time.

If you are going to use a credit card to make regular purchases that you are going to pay off immediately, and you qualify for a card with perks such as cash back, then you may find that you can benefit from using a credit card over a line of credit.

An example would be if you wanted to use your business credit card to make your monthly supplies purchase each month and then pay it off in the following month so that you could take advantage of the cash back.

To float a cash flow gap or make significant purchases that you will need pay out over a short amount of time, a line of credit is almost always the best choice.

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

Where To Find the Best Business Line of Credit

Since most small businesses will have a hard time getting approval from a traditional lender due to poor credit or a lack of sufficient credit history, we found examples of what alternative lenders are offering currently.

Kabbage

Kabbage offers a credit line of up to $150,000 with no credit score required. The catch is that the interest rate is between 32 and 108%1 The business must have been in existence for at least one year. And the business must have revenue of at least $50,000.

Due to the extremely high interest rate, this is really only an option for those businesses that cannot get financing. So that would be due to a low or nonexistent credit score. Plus a business would have to need something immediately. Otherwise, when it comes to interest rates, you can do better.

StreetShares

There is a credit line available here of up to $100,000. It is for those who have a business credit score of at least 600. You must have been in business for at least one year. And you must have at least $25,000 in revenue.

It requires weekly repayment.

Due to the lower revenue requirement, this is a good option for smaller businesses that are okay in the credit department.But they might have trouble meeting higher revenue criteria. Also, the interest rate minimum is lower, with the low end at 9%.

OnDeck

If you have a credit score of at least 500 you can get a credit line of up to $100,000 with OnDeck. There is a $20 per month maintenance fee, and weekly repayment. The interest rate is a little higher here than with those requiring a higher credit score minimum. It ranges from 13.99 to 39.99 percent.

Again, due to the higher interest rate, this should only be an option if you cannot meet the higher credit score requirement.

Lending Club

The credit line on offer from Lending Club goes up to a limit of $300,000. It requires a credit score of 600, at least one year in business, and at least $50,000 in revenue. The repayment term is 25 months. Also, they require collateral for limits over $100,000.

This is a good option for those who meet the requirement. This is because there is a higher limit available with collateral, and the interest rate can go as low as 6.25%. The repayment terms are much friendlier as well.

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

You Can Find the Best Business Line of Credit for Your Needs

A business line of credit is a great financing option. It offers flexibility that isn’t always available with a term loan. Interest rates are often better than those offers by business credit cards. And with alternative lenders they are an option for most small businesses.  Have you found the best business line of credit for you? We would love to hear about it. Tell your company’s story about when you used the best business line of credit.

 

The post How The Best Business Line of Credit Can Help You Grow Your Business appeared first on Credit Suite.

The post How The Best Business Line of Credit Can Help You Grow Your Business appeared first on Buy It At A Bargain – Deals And Reviews.

How The Best Business Line of Credit Can Help You Grow Your Business

A Business Line of Credit is Like Steroids for Your Business

A business line of credit can be an incredible tool for your business. You don’t want just any line of credit however. You want the best business line of credit for your business needs.

Not all businesses are the same, and not all lines of credit are best for all businesses. Different limits, rates, and terms work better for some than others.

What’s a Line of Credit?

It can help to get a quick rundown of exactly what a line of credit is. The most basic definition is that it is a revolving line of credit, similar to a credit card. You have a limit and continuous access to that limit while making payments only on the portion you use each month.

For example, if you have a $10,000 line of credit, you can use however much of those funds you need each month for whatever you want, unless your lender issues some sort of restriction. If you use $2,000, then when you get your statement you will have to pay $2,000 plus the interest, rather than a payment plus interest on the entire amount of the loan.

If you were to pay $1,000, then spend another $500, you would pay on the $1,500 balance the next month. Your payments change as your balance changes. Just like with a credit card.

Access is most typically granted through checks or a card connected to the line of credit account.

The Best Business Line of Credit vs. Credit Cards

Business owners often ask what the difference is between a line of credit and a credit card, and why is one better than the other? The truth is that in some cases, a credit card may be the better option. This is a choice to make based on several different factors.

The main difference between the two that most borrowers need to know is that a line of credit typically has a lower consistent interest rate.  Also, there are no perks like 0% interest or cash back that you sometimes see with credit cards.

How do I Find the Best Business Line of Credit for my Business?

There are several steps to this process.

1. Consider why you need a credit line.

This is the crux of how you find the best business line of credit for your needs. You have to know your needs. Here are some examples how a business may use a line of credit.

  • Take advantage of a sale on inventory, raw materials, or supplies. This can reduce cost of goods sold and consequently, increase the bottom line.
  • Purchase or repair minor equipment when needed. This would be like a new printer or laptop, not an industrial oven, freezer, delivery truck, or a large machine used in a plant of some sort. Larger equipment would best be purchases with an equipment loan.
  • Bridge temporary cash gaps or continuous, known cash gaps due to timing issues. An example of this would be several bills that are due at the beginning of the month when you know your largest contracts pay at the end of the month. The money is coming, it is reliable, but the bills come due before the money comes. You can pay the bills with the line of credit, then pay off the line of credit when the contracts pay.

Another example of this is a seasonal line of credit for a business that does the majority of its sales during a certain time of the year.  A florist does a large percentage of sales during Valentines day, so a seasonal line of credit can come in handy to bridge the cash gap during other times of the year.

2. Find out what is available.

Shop around with various financial institutions to determine which ones offer the best business lines of credit. You will want to look at factors such as interest rate and credit limit in relation to what you need and can afford.

Check with various types of lenders to get a feel for which ones offer what you need.  Check with larger commercial banks, small local institutions and credit unions, and alternative lenders such as those that operate exclusively online.

how to get a business line of credit

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

3. Know your business credit.

Your ability to get approval for the best business line of credit will be directly related to your business credit. While lenders may also consider income and cash flow, they are going to rely most heavily on your business credit score when making an approval decision about a line of credit.

A lower business credit score does not necessarily mean you can’t get approval, but it could greatly affect your interest rate and credit limit.

Consider signing up for a credit monitoring service that lets you keeps tabs on your business credit and what is affecting it each month. The one offered by CreditSuite.com is easy to use and cost effective.

Once you have a handle on why you need a business line of credit, what is available, and what you may actually be eligible for, you can make a decision as to where you are going to apply and which product you are going to apply for.

Determining which of these lenders is offers the best business line of credit for your business goes back to knowing what you need, who has it, and who will approve you for it.

When Is a Line of Credit Better than a Credit Card?

If you are going to need to make payments, a line of credit is a better option. There reason is pretty simple. The credit rate is almost always lower. The few exceptions are those cards that offer 0% APR for a short period of time.

If you are going to use a credit card to make regular purchases that you are going to pay off immediately, and you qualify for a card with perks such as cash back, then you may find that you can benefit from using a credit card over a line of credit.

An example would be if you wanted to use your business credit card to make your monthly supplies purchase each month and then pay it off in the following month so that you could take advantage of the cash back.

To float a cash flow gap or make significant purchases that you will need pay out over a short amount of time, a line of credit is almost always the best choice.

how to get a business line of credit

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

Where To Find the Best Business Line of Credit

Since most small businesses will have a hard time getting approval from a traditional lender due to poor credit or a lack of sufficient credit history, we found examples of what alternative lenders are offering currently.

Kabbage

Kabbage offers a credit line of up to $150,000 with no credit score required. The catch is that the interest rate is between 32 and 108%1 The business must have been in existence for at least one year. And the business must have revenue of at least $50,000.

Due to the extremely high interest rate, this is really only an option for those businesses that cannot get financing. So that would be due to a low or nonexistent credit score. Plus a business would have to need something immediately. Otherwise, when it comes to interest rates, you can do better.

StreetShares

There is a credit line available here of up to $100,000. It is for those who have a business credit score of at least 600. You must have been in business for at least one year. And you must have at least $25,000 in revenue.

It requires weekly repayment.

Due to the lower revenue requirement, this is a good option for smaller businesses that are okay in the credit department.But they might have trouble meeting higher revenue criteria. Also, the interest rate minimum is lower, with the low end at 9%.

OnDeck

If you have a credit score of at least 500 you can get a credit line of up to $100,000 with OnDeck. There is a $20 per month maintenance fee, and weekly repayment. The interest rate is a little higher here than with those requiring a higher credit score minimum. It ranges from 13.99 to 39.99 percent.

Again, due to the higher interest rate, this should only be an option if you cannot meet the higher credit score requirement.

Lending Club

The credit line on offer from Lending Club goes up to a limit of $300,000. It requires a credit score of 600, at least one year in business, and at least $50,000 in revenue. The repayment term is 25 months. Also, they require collateral for limits over $100,000.

This is a good option for those who meet the requirement. This is because there is a higher limit available with collateral, and the interest rate can go as low as 6.25%. The repayment terms are much friendlier as well.

how to get a business line of credit

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

You Can Find the Best Business Line of Credit for Your Needs

A business line of credit is a great financing option. It offers flexibility that isn’t always available with a term loan. Interest rates are often better than those offers by business credit cards. And with alternative lenders they are an option for most small businesses.  Have you found the best business line of credit for you? We would love to hear about it. Tell your company’s story about when you used the best business line of credit.

 

The post How The Best Business Line of Credit Can Help You Grow Your Business appeared first on Credit Suite.

Check Out This Great Question from Residential Real Estate Agents: How Do I Build My Business Credit?

How Do I Build My Business Credit? Residential Real Estate Agents Ask This Question All the Time

Every entrepreneur asks this same question: how do I build my business credit?

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

As such, a business owner’s business and consumer credit scores can be very different.

How Do I Build My Business Credit and Get The Advantages?

Due to the fact that business credit is separate from individual, it helps to safeguard a business owner’s personal assets, in the event of a lawsuit or business insolvency.

Also, with two distinct credit scores, a small business owner can get two separate cards from the same merchant. This effectively doubles purchasing power.

Another advantage is that even new ventures can do this. Going to a bank for a business loan can be a recipe for disappointment. But building small business credit, when done properly, is a plan for success.

Consumer credit scores rely on payments but also other components like credit utilization percentages.

But for company credit, the scores actually only hinge on if a business pays its invoices on time.

How Do I Build My Business Credit and Start The Process?

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

However, it can be done readily and quickly, and it is much swifter than establishing consumer credit scores.

Merchants are a big part of this process.

Doing the steps out of order will lead to repetitive rejections. Nobody can start at the top with company credit. For example, you can’t start with retail or cash credit from your bank. If you do, you’ll get a rejection 100% of the time.

How Do I Build My Business Credit and Get Started with Small Business Fundability?

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

Hence, a business will need a professional-looking website and e-mail address. And it needs to have site hosting bought from a supplier like GoDaddy.

And also, company phone and fax numbers ought to have a listing on 411.com.

At the same time, the company phone number should be toll-free (800 exchange or comparable).

A business will also need a bank account dedicated solely to it, and it has to have all of the licenses essential for running.

Licenses

These licenses all have to be in the particular, accurate name of the small business. And they must have the same small business address and phone numbers.

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

Learn more here and get started toward establishing small business credit.

How Do I Build My Business Credit and Start Credibly Dealing with the Internal Revenue Service?

Visit the IRS web site and acquire an EIN for the small business. They’re totally free. Choose a business entity such as corporation, LLC, etc.

A business can begin as a sole proprietor. But they will most likely want to switch to a variety of corporation or an LLC.

This is in order to limit risk. And it will take full advantage of tax benefits.

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

Sole Proprietors Take Note

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

If you do not, then your personal name is the same as the small business name. Consequently, you can end up being directly accountable for all small business debts.

In addition, according to the Internal Revenue Service, by having this structure there is a 1 in 7 chance of an IRS audit. There is a 1 in 50 possibility for corporations! Prevent confusion and significantly reduce the odds of an IRS audit at the same time.

How Do I Build My Business Credit and Set off the Business Credit Reporting Process?

Start at the D&B web site and obtain a totally free D-U-N-S number. A D-U-N-S number is how D&B gets a company in their system, to generate a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.

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

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

Vendor Credit Tier

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

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

These kinds of accounts often tend to be for the things bought all the time, like marketing materials, shipping boxes, outdoor work wear, ink and toner, and office furniture. This furniture could be particularly helpful to residential real estate agents.

But to start with, what is trade credit? These trade lines are credit issuers who will give you preliminary credit when you have none now. Terms are usually Net 30, rather than revolving.

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

Details

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

To launch your business credit profile the right way, you should get approval for vendor accounts that report to the business credit reporting bureaus. Once that’s done, you can then make use of the credit.

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

Business Credit for Residential Real Estate Agents Credit Suite

Vendor Credit Tier – It Helps

Not every vendor can help like true starter credit can. These are vendors that will grant an approval with a minimum of effort. You also need them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian.

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

How Do I Build My Business Credit and Get Benefits from Accounts That Don’t Report?

Non-Reporting Trade Accounts can also be helpful. While you do want trade accounts to report to a minimum of one of the CRAs, a trade account which does not report can still be of some worth.

You can always ask non-reporting accounts for trade references. And credit accounts of any sort will help you to better even out business expenditures, thereby making budgeting simpler. These are companies like PayPal Credit, T-Mobile, and Best Buy.

Retail Credit Tier

Once there are 5 to 8 or more vendor trade accounts reporting to at least one of the CRAs, then move onto the retail credit tier. These are companies like Office Depot and Staples, both of which have plenty of goods for sale which will help residential real estate agents.

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

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

Fleet Credit Tier

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

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

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

Learn more here and get started toward establishing small business credit.

Cash Credit Tier

Have you been sensibly managing the credit you’ve gotten up to this point? Then move to the cash credit tier. These are companies like Visa and MasterCard. Only use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, use your EIN instead.

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

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

Also, they want you to have an established business.

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

And there are tons of ways the business credit cards in the cash credit tier can help residential real estate agents.

Learn more here and get started toward establishing small business credit.

How Do I Build My Business Credit and Monitor My Business Credit?

Know what is happening with your credit. Make certain it is being reported and take care of any mistakes ASAP. Get in the practice of taking a look at credit reports and digging into the details, and not just the scores.

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

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

Update Your Data

Update the relevant information if there are inaccuracies or the information is incomplete. At D&B, you can do this at: https://iupdate.dnb.com/iUpdate/viewiUpdateHome.htm. For Experian, go here: www.experian.com/small-business/business-credit-information.jsp. So for Equifax, go here: www.equifax.com/business/small-business.

How Do I Build My Business Credit  and Fix My Business Credit?

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

Disputes

Disputing credit report errors typically means you mail a paper letter with copies of any evidence of payment with it. These are documents like receipts and cancelled checks. Never send the originals. Always mail copies and retain the originals.

Fixing credit report inaccuracies also means you specifically itemize any charges you dispute. Make your dispute letter as crystal clear as possible. Be specific about the concerns with your report. Use certified mail so that you will have proof that you sent in your dispute.

How Do I Build My Business Credit? A Word to the Wise

Always use credit smartly! Don’t borrow more than what you can pay back. Keep track of balances and deadlines for payments. Paying off on schedule and fully will do more to elevate business credit scores than nearly anything else.

Establishing small business credit pays off. Great business credit scores help a business get loans. Your lender knows the small business can pay its debts. They understand the company is bona fide.

The business’s EIN attaches to high scores and credit issuers won’t feel the need to demand a personal guarantee.

How Do I Build My Business Credit: Takeaways

Business credit is an asset which can help your small business for years to come. Learn more here and get started toward establishing small business credit.



 

The post Check Out This Great Question from Residential Real Estate Agents: How Do I Build My Business Credit? appeared first on Credit Suite.

The Top 10 Industries Getting Business Credit, And How You Can Too

All the Cool Kids are Getting Business Credit, Here’s How You Can Get It Too

Getting business credit isn’t necessarily hard, but it does take some effort and planning.  There is a process, and you have to work for it.  Who gets business credit?  How can you get business credit?  Do you even need company credit?  These are all perfectly normal questions, as many entrepreneurs think they have to fund their business based solely on their personal credit.  This just isn’t the case however.

For many, business credit is like the fairy godmother of the business world.  It can take your company and put it in the elite class of businesses which are fundable on their own merits.  While all types of businesses can get business credit, some are getting it more often than others.

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

Top 10 Industries Getting Business Credit

1.      Hospitality

Not so much hotels, but more like the newcomers similar to AirBnb, HomeAway, and VRBO. This is an innovative way to stay when you travel. And more like these are coming along.  It gives consumers options. Consumers like options.

2.      Real Estate

This refers more to house resale, or house flipping, than other types of real estate.  Before the last recession this was big news, and then the bubble burst.  It’s back and stronger than ever for now however.  Of course, there is always the lingering potential pin poke of the next recession looming nearby, but for now, that is not stopping them.

3.      Long Haul Truckers

There will always be a need for an affordable way to get things from one place to another, and long-haul truckers are just that.

getting business credit credit suite 2

4.      Finance

Not just any financial business, but those related to credit building are building company credit right now.  Businesses that help companies and individuals build their credit score are a big deal.

5.      Food Delivery

Services that offer food pickup and delivery services such as DoorDash and GrubHub  are growing and expanding, and they are getting business credit to do it.

6.      Energy Conservation

Energy conservation is huge right now, and companies that are working toward that end are establishing business credit to help make it happen.

7.      Health

There are two factions of the health industry building business credit frequently right now.  Data and file management is in the news as there is a push for records consolidation across the board to ensure patient files are as comprehensive and complete as possible.  Personalized health is also a hot topic, as more and more providers are realizing health care does not have a one size fits all solution. Business credit is helping providers in both areas thrive.

8.      Entertainment Technology (Apps, gaming, streaming)

Netflix, Hulu, and all the other streaming apps prove that this isn’t an industry that is going anywhere any time soon.  Add gaming and the hundreds of new apps that pop up in any given month and you can see why this is an industry that is getting business credit.

9.      Consumer Retail

Consumer retail companies that focus on online retail, or a combination of online and brick and mortar, are using business credit as online retail solidifies its foothold in the retail industry.

10.  Commercial Construction

Contractors working to build commercial property are busy right now.  Business credit helps them get a leg up on the competition.

11.  Bonus!!!!  The Cannabis Industry

Whether it is edibles or CBD products, there is no doubt this industry is growing fast.  Specialty stores selling a variety of CBD oil products are opening on virtually every corner, and with legalities changes frequently from state to state, other shops are popping up too.

While these are the top industries getting business credit, they aren’t the only ones.  If your company doesn’t fit into one of these, you can still join in the fun.  How?  Why?  Do you need or even want to join the crowd?  The answer to the first question is a resounding yes!  You definitely need to.  As far as wanting too, I think you will, if you don’t already.

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

Why Are These Guys Getting Business Credit?

You might think business credit is unnecessary because your personal credit is fine. Maybe you don’t know anything about business credit and think you do not have a chance because your personal credit is shot.  If you have bad personal credit, you can absolutely build business credit that will fund your business.  Suppose your personal credit is fine.  Here is why you need business credit anyway.

Using business credit to handle your finances means personal finances will not be affected by company transactions. If your business goes bust, your personal credit score will stay intact, and you will not be personally liable for your business debts.

Thinking it isn’t an issue because your business is doing fine is a mistake.  Paying business expenses with personal credit cards maxes cards out quickly.  Even if you pay off large chunks every month, the rotating balance is likely very near the limit.  This is because business expenses are large, and personal credit cards tend to have lower limits than biz credit cards.

This affects your debt-to-credit ratio, which can negatively affect your personal credit score even if you make payments on time.  Business credit protects your personal credit score and ensures you have access to the funds you need to run your business.

How to Go About Getting Business Credit

Now that you know why you want to join the crowd that is establishing business credit, you can get busy.  Here is what you need to do.

Apply for an EIN

This is an identifying number for your business that works similar to your SSN.  You apply on the IRS website, and it is free.  Use it on business credit applications instead of your SSN.  You may still need to provide your SSN for fraud prevention, but it will not be used to access your personal credit score.

Incorporate

A business must be incorporated to have business credit. You can choose between forming a corporation, an S-corp, or an LLC.  The idea is that your business needs to be established as an entity separate from yourself in every way.  Incorporation not only accomplishes that, but it also offers you some liability from corporate debts.

Each option varies in cost and amount of protection it offers.  Which one will work best for you depends on your specific business.  Any of them will serve the purpose of establishing your corporation separately for purposes of building corporate credit though.

Contact Information

Your business needs to have an address and phone number that is different from your personal address and telephone number.  The phone number should be toll free, and the business should be listed in the directories with its own contact information.

Website and Email

All businesses these days need a professional, user friendly website to be able to compete.  You also need an email address that is specifically for the business.  Do not use a free email service such as Gmail or Yahoo.  The business email address should use the same URL as the business website.

Bank Accounts

Open a separate business bank account and begin running all business financial activity through that account.  You can pay yourself from this account, but do not run personal expenses through it. Not only will this help separate your business from yourself, but it will also save a lot of time when tax season rolls around.

Getting Business Credit: Get a D-U-N-S Number

This is another identifying number, but it is only used by Dun & Bradstreet.  They are the largest and most commonly used business credit reporting agency, so having a credit report with them is a must.  You can get a DUNS number for free on their website, but they will try to sell you other services.  You do not need them.  Just get the free DUNS number.

Build Business Credit from the Ground Up

Once you have your business separated from your personal information and finances, you can get to work building business credit.  It may seem overwhelming at first.  This is because if you start applying for business credit cards and you do not yet have a credit score attached to your business, you are going to be turned down.  You have to have credit to get credit, and it feel like a vicious cycle.  We know how to break the cycle however.  There is a crack in the circle. We know the “in.”

The Vendor Credit Tier

The vendor credit tier is your way in.  These are vendors that will extend net 30 terms on invoices and then report your payments to the credit agencies.  Once they start doing that, your business credit score will be established and grow from there.

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

You may have to make a few initial purchases with these vendors before you can get net 30 terms.  Some require a minimum amount of time in business, and there may be a minimum income requirement if you do not have business credit.  There are dozens of them with varying requirements.  What they do not require, however, is a credit score.  This is how you start building business credit.

Working Through the Credit Tiers

Once you have 7 to 10 accounts reporting from the vendor credit tier, your score should be high enough to allow you to gain approval from creditors in the retail credit tier.  These are credit cards attached to specific stores such as Best Buy, Amazon, and Office Depot.  There are hundreds of these cards available with varying requirements.  Apply for a few, use them, and as you have more and more accounts reporting your on-time payments, you will qualify for more.

After you have several accounts reporting from the retail credit tier, you will qualify for cards in the fleet credit tier.  These cards are issued by companies like Shell, Fuelman, and WEX to be used for fuel purchases and automobile repairs.

Then, last but not least, the grand prize.  When you have enough accounts reporting from each tier, and if you are keeping current on all your payments, your score will be strong enough for the cash credit tier.  These are the general credit cards such as MasterCard and Visa that are not attached to a specific store.  They typically have higher limits and more rewards options.

From there, the sky’s the limit.  Your business will qualify for all the business credit it needs to continue to not only run, but thrive and grow.

A Few Ways to Use Business Credit to Your Benefit

Once you have all that business credit, what do you do with it?  The short answer is, whatever you want.  That is very broad of course.  There are some scenarios where it can be especially helpful however.

Take Advantage of Special Pricing

Having business credit means you can take advantage of special pricing on inventory.  For example, if you can get a 20% discount on a bulk order, and it is either a big seller or something you use regularly, the savings could be significant.  However, you need the funds available to make the purchase.  Company credit lets that happen without depleting cash reserves.

Float a Cash Gap

Cash gaps can occur for many reasons.  The most common include lags in invoice collection and seasonal gaps.  Company credit can allow you to cover those cash gaps without having to seek additional financing.

Reduce Cost

Used effectively, paying company expenses with company credit cards can actually reduce overall expenses.  I know it sounds totally crazy considering you have to pay interest.  Here how it could work, however.

Imagine you have a business credit card that offers 2% cash back on purchases.  If you make your regular purchases on this card and pay them off each month, you avoid paying interest and reduce the cost of those expenses by 2%.

Expansion and Growth

If you need funds to expand and grow, business credit can help you access those funds.  You may not want to fund a large expansion project with credit cards. But using charge cards wisely can help you build the business credit you need to get a line-of-credit or a traditional loan for a larger project.

You Could Be Getting Business Credit Too

When you read the list of top 10 industries getting business credit, you may think that you don’t stand a chance if you are not working in one of those industries.  If you follow the steps listed above however, you can definitely get credit for your business that is not attached to your personal credit.  This will not only ensure you can access the funds you need to run and grow your business, but also protect your personal finances should your business finances suffer. It’s a win-win, and all you have to do is trust the process.

 

The post The Top 10 Industries Getting Business Credit, And How You Can Too appeared first on Credit Suite.

A Guide To Credit Card Debt

A Guide To Credit Card Debt

When discussing bank card financial debt, the results of financial debt rely on such aspects as the resources of finance funds, the function for which loaning is done, the conditions under which the financial debt is drifted, the quantity of the existing financial debt, the rates of interest, the kinds of financing used as well as the basic financial problem of the area.

The results of residential loaning are rather various from those of international loaning. In inner loaning, there is no rise in the overall amount of sources offered for the usage. Loaning from monetary establishments is merely a transfer of sources from personal to federal government usage.

The impacts of financial obligation additionally depend on the function for which the financial debt is developed. The greater the rate of interest price for loaning funds, the more powerful the pull on funds from completing financial investments.

A significant diversion of funds from low ventures would certainly often tend to trigger the latter’s failing and also this, subsequently, would certainly impact manufacturing and also various other financial procedures, like market value as well as rates of interest. This will certainly have a tendency to urge the acquisition of their protections if the monetary organizations obtain tax obligation exceptions for their finances.

The impacts of residential loaning are rather various from those of international loaning. The results of financial obligation additionally depend on the function for which the financial debt is produced. The greater the passion price for loaning funds, the more powerful the pull on funds from contending financial investments.

The post A Guide To Credit Card Debt appeared first on Buy It At A Bargain – Deals And Reviews.

Which Credit Cards Will Help Build Business Credit? The Reliable Answer

Take Advantage of Our Research on Which Credit Cards Will Help Build Business Credit and Reliably Make Your Company Financially Stable

Do you know which credit cards will help build business credit? We inspected a substantial number of company credit cards; here are our favorites.

Per the SBA, small business credit card limits are 10 – 100 times that of personal cards! This shows you can get a lot more money with small business credit.

And this also means you can have personal charge cards at shops. So you’ll now have an additional card at the same stores for your small business.

And you won’t have to put up collateral, cash flow, or financial information to get small business credit.

Which Credit Cards Will Help Build Business Credit: Credit card Advantages

Benefits vary, so make certain to pick the reward you prefer from this array of choices.

Which Credit Cards Will Help Build Business Credit: These Will!

Know which credit cards will help build business credit.

Wells Fargo Business Secured Credit Card

Check out the Wells Fargo Business Secured Credit Card. It allows cardholders to get a credit limit of $500 – $25,000. The amount available is the same as the amount of money you supply to secure the line.

Your purchase APR rate can be as low as a variable 13.15%. The annual fee is $25. The more cards you have, the more expensive your annual fee is going to be.

This card lets business owners with bad personal credit to acquire a card to make purchases and set up business credit.

But the card will only report to the personal credit agencies if you default or are overdue on payments.

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

Which Credit Cards Will Help Build Business Credit Suite

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

Which Credit Cards Will Help Build Business Credit: Excellent Business Credit Cards for Fair Credit

For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. You will need to have a credit score of 690 or higher.

NOTE: the standard APR is 23.99% variable APR.

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

Which Credit Cards Will Help Build Business Credit: Awesome Company Credit Cards with 0% APR

For a 0% APR time period, we really like the Ink Business Cash ℠ Credit Card. You pay no annual cost. It’s got an interest-free period. It has versatile cash-back rewards.

There are spending limits for employees. You will need to have a credit score of 690 or higher.

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

Blue Business Plus from American Express

For an introductory 0% APR time period, we also like the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn double points on regular business expenses up to a yearly cap.

The regular APR is 12.24% – 20.24%. So this is variable.

Get it here: https://creditcard.americanexpress.com/blue/

Which Credit Cards Will Help Build Business Credit: Spectacular Low APR/Balance Transfers Business Credit Cards

For Low APR/Balance Transfers Business Credit Cards, we like the U.S. Bank Business Edge Platinum. You start with twelve months of 0% APR financing on new purchases and balance transfers. But there is a 3% balance transfer cost.

Thereafter, the purchase APR is a variable 10.49% – 18.49%. But this is dependent on creditworthiness. Yet there is no yearly fee. This card is just available to those with great or outstanding credit. But there is no rewards program for purchases.

Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do

Blue Business Plus from American Express

Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. And there is no yearly fee.

Right now companies can get double points on the initial $50,000 in purchases each year.

Get it here: https://creditcard.americanexpress.com/blue/

Which Credit Cards Will Help Build Business Credit: Cards for Luxurious Travel Points

 

For Travel Points, we like the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles after you make $1,000 in purchases on your new card within your very first three months. Terms and limitations apply.

In addition earn a $50 statement credit after you make a Delta purchase with your card in your first three months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile per qualified dollar spent on purchases.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279

Business Platinum from American Express

Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:

  • Priority Pass Select
  • Delta SkyClubs
  • American Express Centurion Lounges

You also get Gold Status when you register for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.

TSA Details

There is a $100 credit towards the Global Entry application fee, including access to TSA PreCheck program. You get one point for every dollar spent on most purchases. Also, you get 1.5 times the points on charges of $5,000 or more on qualified purchases.

But this is up to one million more points per year. Also get five points per dollar spent buying flights and prepaid hotels from the American Express Travel site.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Which Credit Cards Will Help Build Business Credit Suite

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

Ink Business Preferred from Chase

Also, be sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points once you spend $5,000 on purchases in your first three months from account opening.

Get three points for each dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone.

And this also applies to advertising purchases made with social media sites and search engines. But this is for each account anniversary year.

Also, get one point for each dollar on all of the other purchases. There is no limitation to the amount you can earn.

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

Which Credit Cards Will Help Build Business Credit: Terrific Cards for Cash Back

Consider the SimplyCash Plus Business Credit Card from American Express. You can earn up to $400 cash back. Earn a $200 statement credit after spending $5,000.

Also, get 5% cash back at US office supply stores and on wireless phone services purchased from US service providers. But this applies to the initial $50,000 of yearly spending.

You also get 3% cash back on the spending category of your choice. So this is from eight distinct categories. They include air travel, gas, advertising and computer purchases.

But it applies to the first $50,000 of annual spending.

And also you get 1% cash back on all other purchases.

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

Bank of America Business Advantage Cash Rewards MasterCard

Also, be sure to take a look at the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With this card, you can get a $200 statement credit.

So this is after $500 in purchases during 60 days of account opening.

You also get 3% cash back on purchases at gasoline stations and office supply stores. But this is up to $250,000 per year.

Also, you get 2% cash back on purchases at restaurants. And you also get 1% cash back on all purchases. There is no yearly fee. It is on offer to applicants with exceptional credit.

But your cash back can only be redeemed in $25 increments.

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

Spark Cash Select From Capital One

Additionally, consider the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, with no limitations.

New cardholders can also get a $200 cash bonus once they spend $3,000 on new purchases within three months of account opening. New customers also get initial APR of 0% on purchases for nine months. Also, there is no annual fee.

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

Which Credit Cards Will Help Build Business Credit Suite

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

Which Credit Cards Will Help Build Business Credit: Foolproof Cards for Rewards

Consider the Business Gold Rewards Card from American Express OPEN. You can earn 50,000 Membership Rewards points after $5,000 in purchases on the card within first three months. Also, you get three points on your choice of five categories.

In addition, get two times the points on the remaining categories. Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year.

But after that your annual fee increases to $175.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards

Business Platinum Card from American Express OPEN

Also, have a look at the Business Platinum ® Card from American Express OPEN. You can get up to 75,000 Membership Rewards points at the time of account opening.

Also earn 50,000 Membership Rewards points subsequent to spending $10,000. In addition, get 25,000 more points after spending an extra $10,000. So this is on all on qualifying purchases within the initial three months.

Plus you can get five times the Membership Rewards points on flights and pre-paid hotels on amextravel.com. But – yikes! – it has a $450 yearly fee.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Which Credit Cards Will Help Build Business Credit: The Best Business Credit Cards for You

Which credit cards will help build business credit? They will hinge on your credit history and scores. And they might just not turn out to be which credit cards will help build business credit.

Only you can choose which rewards you want and need, so be sure to do your homework.

And, as always, make certain to build credit in the recommended order for the max, fastest benefits. Share this and tell your friends what you think of which credit cards will help build business credit.

 

 

The post Which Credit Cards Will Help Build Business Credit? The Reliable Answer appeared first on Credit Suite.

The Top 10 Small Business Credit Cards – Excellence for Every Entrepreneur

The Top 10 Small Business Credit Cards Can Be Yours

Do you know the top 10 small business credit cards? We did the research for you. So here are our favorites.

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

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

And you won’t have to put up collateral, cash flow, or financials to get business credit.

Credit Card Benefits

Features vary. So make certain to pick the perk you prefer from this collection of possibilities.

Top 10 Small Business Credit Cards: 10. Ink Business Cash Credit Card for a Terrific 0% APR Period

For a 0% APR period, this card is great. You pay no yearly fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for employees. However, you will need a credit score of 690 or higher.

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

Top 10 Small Business Credit Cards: 9. Ink Business Preferred from Chase for Excellent Rewards

With this card, you can get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is within your first three months from account opening.

Earn three points per dollar. But this is on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone. It is also on advertising purchases made with social media sites and search engines. But this is for each account anniversary year.

Also, earn one point for each dollar on all of the other purchases. There is no restriction to the amount you can earn.

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

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

Top 10 Small Business Credit Cards: 8. SimplyCash Plus Business Credit Card from American Express for Awesome Cash Back

Small Business Credit Cards Credit Suite

Check out the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get a $200 statement credit. But this is after spending $5,000.

Also, get 5% cash back at US office supply stores and on wireless phone services. So these must be bought from US service providers. But this applies to first $50,000 of yearly spending.

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

Plus you get 1% cash back on all other purchases.

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

Top 10 Small Business Credit Cards: 7. Gold Delta SkyMiles Business Credit Card from American Express for Luxurious Travel Points

If you want Delta SkyMiles, then this card is for you. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is during your first three months. Terms and limitations apply.

Also earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first 3 months. Earn two miles per dollar spent on purchases made straight with Delta. Also, earn one mile per qualified dollar spent on purchases.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279

Top 10 Small Business Credit Cards: 6. Spark Cash Select From Capital One for Jackpot Rewards

With this card, you get 1.5% cash back on all purchases. So this is with no restrictions.

New cardholders can also get a $200 cash bonus. But that is once they spend $3,000 on new purchases. So this is within three months of account opening.

New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no annual fee.

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

Top 10 Small Business Credit Cards: 5. Blue Business Plus from American Express for a Fantastic Introductory APR Period

This card an introductory 0% APR time period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn double points on day-to-day company expenses up to a yearly cap. But the regular APR is 12.24% – 20.24%. So this APR is variable.

Right now corporations can earn double points. But this is on the initial $50,000 in purchases each year.

Get it here: https://creditcard.americanexpress.com/blue/

Top 10 Small Business Credit Cards: 4. Bank of America Business Advantage Cash Rewards MasterCard

With this card, you can get a $200 statement credit. But this is after $500 in purchases. And that is within 60 days of account opening.

You also get 3% cash back on purchases at filling stations and office supply stores. But this is as much as $250,000 annually.

Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no yearly fee. But it is available to applicants with excellent credit.

But you can only redeem your cash back in $25 increments.

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

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

Top 10 Small Business Credit Cards: 3. Wells Fargo Business Secured Credit Card for Excellent Credit Building

This card allows cardholders to secure a credit limit of $500 – $25,000. The amount available corresponds to the amount of funding you supply to secure the line.

Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the more expensive your annual fee will be.

This card lets company owners with bad personal credit to get a card to make purchases and build business credit.

But the card will only report to the personal credit bureaus if you default or are late on payments.

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

Top 10 Small Business Credit Cards: 2. US Bank Business Edge Platinum for Low APR Bliss

For Low APR/Balance Transfers Business Credit Cards, this card is king. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.

Afterwards, the purchase APR is a variable 10.49% – 18.49%. And this depends upon creditworthiness. There is no yearly fee. But this card is just available to people with great or superb credit. But there is no rewards program for purchases.

Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do

Top 10 Small Business Credit Cards: 1. Business Platinum from American Express for Amazing Travel Perks

Check out the Business Platinum Card from American Express. It is a fantastic option for travel benefits!

Travel benefits including access to these airport lounge networks:

  • Priority Pass Select
  • Delta SkyClubs
  • American Express Centurion Lounges

You also receive Gold Status when you register for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.

There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. And you also get one point per dollar spent on the majority of purchases.

Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on qualifying purchases. But this is up to one million additional points per year. Get five points per dollar. But this is for purchasing flights and prepaid hotels from the American Express Travel website.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

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

Bonus #1: Capital One Spark Classic for Business for Fair Credit

For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. But you will need a credit score of 690 or higher.

But BEAR IN MIND: the ongoing APR is 23.99% variable APR.

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

Bonus #2: Business Gold Rewards Card from American Express OPEN for Jackpot Rewards

Take a look at the Business Gold Rewards Card from American Express OPEN. So you can earn 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card within first three months.

Also, you get three points on your choice of five categories. In addition, get two times the points on the other categories.

Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But then your yearly fee rises to $175.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards

Bonus #3: Business Platinum Card from American Express OPEN

Also, have a look at the Business Platinum ® Card from American Express OPEN. So you can earn as much as 75,000 Membership Rewards points upon account opening.

Also get 50,000 Membership Rewards points. But this is subsequent to spending $10,000.

In addition, get 25,000 more points. But that is after spending an additional $10,000 all on eligible purchases. But this is during the initial three months.

And also you can get five times the Membership Rewards points. So this is on flights and pre-paid hotels on amextravel.com. But it has a $450 yearly fee. Yikes!

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

The Top 10 Small Business Credit Cards for You

Your best small business credit cards will depend on your credit history and scores.

Only you can decide which rewards you want and need, so make sure to do your research.

And, as always, make sure to build credit in the established order for the best, fastest benefits.

Share this and tell your friends what you think of the best company credit cards.

The post The Top 10 Small Business Credit Cards – Excellence for Every Entrepreneur appeared first on Credit Suite.

Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer?

The Best Choice Business Credit Card for a 0% Balance Transfer – Check Out the Hottest Cards!

You asked: What is the best choice business credit card for a 0% balance transfer? Our research turned up some stellar choices. So here are our favorites for a 0% balance transfer and other great perks.

According to the SBA, corporate credit card limits are a whopping 10 – 100 times that of personal cards!

This means you can get a lot more money with small business credit. And it also means you can have personal credit cards at shops. So you would now have an additional card at the same shops for your company.

And you won’t have to provide collateral, cash flow, or financial information in order to get business credit.

Credit card Benefits

Features vary. So make sure to choose the advantage you prefer from this assortment of possibilities. Because you may find that the best choice business credit card for a 0% balance transfer is not the best choice for you.

Reliable Best Choice Business Credit Card for a 0% Balance Transfer

For Low APR/Balance Transfers Business Credit Cards, we prefer the U.S. Bank Business Edge Platinum. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.

After that, the purchase APR is a variable 10.49% – 18.49%. And this depends on creditworthiness. There is no yearly fee. But this card is just available to those with great or exceptional credit. But there is no rewards program for purchases.

Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do

Blue Business Plus from American Express

Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. There is no annual fee.

Right now small businesses can get double points. But this is on the initial $50,000 in purchases per year.

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Cards with 0% APR – Pay Zero!

For a 0% APR time frame, we prefer the Ink Business Cash ℠ Credit Card. Also, you pay no annual fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for your employees. But you will have to have a credit score of 690 or better.

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

Blue Business Plus from American Express

For an introductory 0% APR period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn double points on routine company expenses up to annual cap. But the regular APR is 12.24% – 20.24%. So this APR is variable.

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Company Credit Cards for Luxurious Travel Points

For Travel Points, we like the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is within your first three months. Terms and limitations apply.

Also earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first three months. Earn two miles per dollar spent on purchases made directly with Delta. Also, earn one mile per eligible dollar spent on purchases.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279

Business Platinum from American Express

Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:

  • Priority Pass Select
  • Delta SkyClubs
  • American Express Centurion Lounges

You also receive Gold Status when you sign up for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.

There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. And you also get one point per dollar spent on the majority of purchases.

Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on eligible purchases. But this is up to one million additional points each year. Get five points per dollar. But this is for buying flights and prepaid hotels from the American Express Travel web site.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Ink Business Preferred from Chase

Also, make sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is in your initial 3 months from account opening.

Get three points per dollar. But this is on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone. It is also on advertising purchases made with social media sites and search engines. But this is for each account anniversary year.

Also, get one point per dollar on all other purchases. There is no limit to the amount you can earn.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Credit Builder Corporate Credit Cards – Make Your Credit Surge!

Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to secure a credit limit of $500 – $25,000. The amount available is identical to the amount of funding you furnish to secure the line.

Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the higher your annual fee is going to be.

This card lets company owners with poor personal credit to get a card to make purchases and establish business credit.

But the card will just report to the personal credit bureaus if you default or are late on payments.

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

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

Best Choice Business Credit Card for a 0% Balance Transfer: Terrific Cards for Cash Back

Consider the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get a $200 statement credit. But this is after spending $5,000.

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

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

Plus you get 1% cash back on all other purchases.

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

Bank of America Business Advantage Cash Rewards MasterCard

Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card.

With it, you can get a $200 statement credit. But this is after $500 in purchases . And that is within 60 days of account opening.

You also get 3% cash back on purchases at gas stations and office supply stores. But this is as much as $250,000 yearly.

Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no annual fee. But it is available to applicants with outstanding credit.

But you can only redeem your cash back in $25 increments.

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

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

Spark Cash Select from Capital One

In addition, check out the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without restrictions.

New cardholders can also get a $200 cash bonus. But that is as soon as they spend $3,000 on new purchases. So this is during the first three months of account opening.

New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no yearly fee.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Secure Corporate Credit Cards for Fair Credit

For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. But you will need a credit score of 690 or higher.

But BEAR IN MIND: the ongoing APR is 23.99% variable APR.

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

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

Best Choice Business Credit Card for a 0% Balance Transfer: Unbeatable Cards for Jackpot Rewards

Take a look at the Business Gold Rewards Card from American Express OPEN. So you can earn 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card during first three months.

Also, you get three points on your choice of five categories. In addition, get two times the points on the remaining categories.

Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But after that your annual fee rises to $175.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards

Business Platinum Card from American Express OPEN

Also, take a look at the Business Platinum ® Card from American Express OPEN. So you can get up to 75,000 Membership Rewards points at the time of account opening.

Also get 50,000 Membership Rewards points. But this is after spending $10,000.

In addition, get 25,000 more points. But that is after spending an added $10,000 all on eligible purchases. But this is during the initial three months.

Also you can get five times the Membership Rewards points. So this is on flights and prepaid hotels on amextravel.com. But it has a $450 annual fee. Yikes!

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Your Best Choice Business Credit Card for a 0% Balance Transfer

Your very best choice business credit card for a 0% balance transfer will be dependent 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 build credit in the established order for the most mind-blowing, fastest benefits.



The post Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer? appeared first on Credit Suite.

The post Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer? appeared first on Buy It At A Bargain – Deals And Reviews.

Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer?

The Best Choice Business Credit Card for a 0% Balance Transfer – Check Out the Hottest Cards!

You asked: What is the best choice business credit card for a 0% balance transfer? Our research turned up some stellar choices. So here are our favorites for a 0% balance transfer and other great perks.

According to the SBA, corporate credit card limits are a whopping 10 – 100 times that of personal cards!

This means you can get a lot more money with small business credit. And it also means you can have personal credit cards at shops. So you would now have an additional card at the same shops for your company.

And you won’t have to provide collateral, cash flow, or financial information in order to get business credit.

Credit card Benefits

Features vary. So make sure to choose the advantage you prefer from this assortment of possibilities. Because you may find that the best choice business credit card for a 0% balance transfer is not the best choice for you.

Reliable Best Choice Business Credit Card for a 0% Balance Transfer

For Low APR/Balance Transfers Business Credit Cards, we prefer the U.S. Bank Business Edge Platinum. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee.

After that, the purchase APR is a variable 10.49% – 18.49%. And this depends on creditworthiness. There is no yearly fee. But this card is just available to those with great or exceptional credit. But there is no rewards program for purchases.

Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do

Blue Business Plus from American Express

Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month initial 0% APR offer. There is no annual fee.

Right now small businesses can get double points. But this is on the initial $50,000 in purchases per year.

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Cards with 0% APR – Pay Zero!

For a 0% APR time frame, we prefer the Ink Business Cash ℠ Credit Card. Also, you pay no annual fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for your employees. But you will have to have a credit score of 690 or better.

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

Blue Business Plus from American Express

For an introductory 0% APR period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn double points on routine company expenses up to annual cap. But the regular APR is 12.24% – 20.24%. So this APR is variable.

Get it here: https://creditcard.americanexpress.com/blue/

Best Choice Business Credit Card for a 0% Balance Transfer: Company Credit Cards for Luxurious Travel Points

For Travel Points, we like the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is within your first three months. Terms and limitations apply.

Also earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first three months. Earn two miles per dollar spent on purchases made directly with Delta. Also, earn one mile per eligible dollar spent on purchases.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279

Business Platinum from American Express

Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:

  • Priority Pass Select
  • Delta SkyClubs
  • American Express Centurion Lounges

You also receive Gold Status when you sign up for the Starwood Preferred Guest program. There is also a $200 yearly air travel fee credit.

There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. And you also get one point per dollar spent on the majority of purchases.

Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on eligible purchases. But this is up to one million additional points each year. Get five points per dollar. But this is for buying flights and prepaid hotels from the American Express Travel web site.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Ink Business Preferred from Chase

Also, make sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is in your initial 3 months from account opening.

Get three points per dollar. But this is on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone. It is also on advertising purchases made with social media sites and search engines. But this is for each account anniversary year.

Also, get one point per dollar on all other purchases. There is no limit to the amount you can earn.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Credit Builder Corporate Credit Cards – Make Your Credit Surge!

Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to secure a credit limit of $500 – $25,000. The amount available is identical to the amount of funding you furnish to secure the line.

Your purchase APR rate can be as low as a variable 13.15%. And the yearly fee is $25. But the more cards you have, the higher your annual fee is going to be.

This card lets company owners with poor personal credit to get a card to make purchases and establish business credit.

But the card will just report to the personal credit bureaus if you default or are late on payments.

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

Best Choice Business Credit Card for a 0% Balance Transfer Credit Suite

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

Best Choice Business Credit Card for a 0% Balance Transfer: Terrific Cards for Cash Back

Consider the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get a $200 statement credit. But this is after spending $5,000.

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

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

Plus you get 1% cash back on all other purchases.

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

Bank of America Business Advantage Cash Rewards MasterCard

Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card.

With it, you can get a $200 statement credit. But this is after $500 in purchases . And that is within 60 days of account opening.

You also get 3% cash back on purchases at gas stations and office supply stores. But this is as much as $250,000 yearly.

Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no annual fee. But it is available to applicants with outstanding credit.

But you can only redeem your cash back in $25 increments.

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

Best Choice Business Credit Card for a 0% Balance Transfer Credit Suite

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

Spark Cash Select from Capital One

In addition, check out the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without restrictions.

New cardholders can also get a $200 cash bonus. But that is as soon as they spend $3,000 on new purchases. So this is during the first three months of account opening.

New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no yearly fee.

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

Best Choice Business Credit Card for a 0% Balance Transfer: Secure Corporate Credit Cards for Fair Credit

For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. But you will need a credit score of 690 or higher.

But BEAR IN MIND: the ongoing APR is 23.99% variable APR.

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

Best Choice Business Credit Card for a 0% Balance Transfer Credit Suite

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

Best Choice Business Credit Card for a 0% Balance Transfer: Unbeatable Cards for Jackpot Rewards

Take a look at the Business Gold Rewards Card from American Express OPEN. So you can earn 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card during first three months.

Also, you get three points on your choice of five categories. In addition, get two times the points on the remaining categories.

Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But after that your annual fee rises to $175.

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards

Business Platinum Card from American Express OPEN

Also, take a look at the Business Platinum ® Card from American Express OPEN. So you can get up to 75,000 Membership Rewards points at the time of account opening.

Also get 50,000 Membership Rewards points. But this is after spending $10,000.

In addition, get 25,000 more points. But that is after spending an added $10,000 all on eligible purchases. But this is during the initial three months.

Also you can get five times the Membership Rewards points. So this is on flights and prepaid hotels on amextravel.com. But it has a $450 annual fee. Yikes!

Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279

Your Best Choice Business Credit Card for a 0% Balance Transfer

Your very best choice business credit card for a 0% balance transfer will be dependent 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 build credit in the established order for the most mind-blowing, fastest benefits.



The post Your Excellent Question: What is the Best Choice Business Credit Card for a 0% Balance Transfer? appeared first on Credit Suite.

Which Source Is Better For Bad Credit Student Loans

Which Source Is Better For Bad Credit Student Loans

Which Source Is Better For Bad Credit Student Loans
Pupil Loans can be acquired from the federal government or from personal organizations.
These poor credit rating trainee finances likewise profit trainees that can not get any type of various other trainee funding because of absence of credit score. Trainees that are really curious about proceeding their education and learning have lots of choices for taking trainee finances.
Need on Bad Credit Student Loans
The factor why a lot more as well as a lot more pupils are availing negative credit report pupil car loans is that they fall short to obtain various other common pupil car loans. There 2 major factors why a pupil might be denied for a lending: the absence of credit scores or a poor credit report. The majority of loan providers that deal with poor debt pupil finances recognize all the constraints of trainees.
Federal Government Student Loans
As for federal government helped poor credit history trainee fundings are worried, the university or the institution makes them readily available to the trainees. And also they additionally lug a reduced interest rate. There are 2 type of federal government programs for poor credit scores trainee financings that have actually been established for pupils: Federal Perkins Loans as well as Federal Stafford Loans
The Federal Stafford Loan, a popular education and learning financing, brings really reduced rates of interest. It can be availed by both the grad as well as the undergraduate pupils. The rate of interest on these financings vary and also are dealt with by the federal government in July annually.
These poor credit report pupil finances come under the classification of federal government lendings since they are guaranteed or ensured by the federal government. Federal Perkins Loans are the lendings that are provided to the grad as well as undergraduate pupils at a reduced passion price of regarding 5%.
Exclusive Student Loans.
You can constantly use for negative debt trainee car loans that are provided by exclusive loan providers if you are not able to certify for a federal government trainee car loan for any type of factor. When the quantity of the federal government finance is not great sufficient to fulfill your costs, these lendings can likewise be asked for. There are likewise opportunities that your university or institution may not participate in the federal government pupil financings program.
There are several exclusive lending institutions taking care of poor debt trainee fundings, that supply varied pupil financing items. The loan providers encounter a better danger in providing out these car loans, as the federal government does not assure them. This is the reason the rates of interest on such lendings are greater than that on the basic financings.
The quantity provided via exclusive negative credit rating pupil finances are normally greater than what the federal government car loans give. Several exclusive lending institutions additionally offer to consumers embarking on non-degree specialist accreditations and also details training programs. You must take into consideration the advantages and disadvantages of both financing key ins order to determine which one finest matches your requirements.

The factor why extra as well as much more pupils are availing negative debt pupil car loans is that they stop working to obtain various other basic pupil finances. These poor credit score trainee fundings come under the classification of federal government finances due to the fact that they are guaranteed or ensured by the federal government. If you are incapable to certify for a federal government trainee funding for any kind of factor, you can constantly use for poor credit score trainee financings that are provided by exclusive loan providers. There are several personal lending institutions dealing with negative credit report pupil finances, that use varied pupil lending items. The quantity provided with exclusive negative credit score pupil fundings are normally greater than what the federal government lendings give.

The post Which Source Is Better For Bad Credit Student Loans appeared first on ROI Credit Builders.