Right Business Credit Card for Your Startup

When considering a business credit card for your young business, you need to ask yourself a few questions:

• Are you trying to build business credit?
• Do you travel a lot and want travel rewards?
• Are you looking for cash back rewards?
• Do you want a 0% interest introductory APR?
• What are your personal credit scores?

Once you’ve answered questions like these, you can narrow down your choices. For example, if you’re trying to build business credit, you need to ensure that the cards you consider report your balance and payment history not just to the major consumer credit bureaus, but to the business credit bureaus as well.

If you’re looking to earn travel rewards, then you should start by looking for cards that offer a strong welcome bonus. Typically, you’ll earn a large welcome bonus after completing a minimum spending amount within several months , or several billing cycles within account opening. You also want to find a card that offers you a strong reward rate  in points or miles for the kinds of purchases your business makes the most.

Likewise, the best card for earning cash back rewards will also offer a valuable welcome bonus and rewards for spending. You could find a card that offers a high rate of return on all purchases, or one that offers bonus cash back for some common business purchases,  such as charges from phone services providers, and just 1% cash back on all other purchases.

Business cards with 0% APR promotional financing offers can be available, but they aren’t often as generous as those from personal cards. However, this can be a great way to save money on interest charges while you finance you business operations.

Finally, you have to consider your personal credit history and credit score, as there’s no use applying for a card that you can’t possibly qualify for.