Any small business needs a credit card to ease making daily purchases. There is a lot of competition among cards and some offer many valuable features like your business name on the card and cash back features.
I highly recommend that you look for a credit card which allows you to put your business name on the card. This is great advertising for free every time you use it!
I use a cash back card for my business and for my personal expenses. Depending on your business setup, check around for cash back cards, especially if they have higher cash back in in items that your particular business uses frequently. Some have a higher percentages back for office supplies, gas or home supply stores. If you travel a lot look for travel rewards like flier mileage. The cash can be as high as 5% back. I get back $50 to $100 a month usually and we are a very small business. Check and see if the rewards have a cap of say, $500 per month.
If you carry an amount owed from month to month then look closer for a low interest credit card rather then a rewards card that may have higher rates. There are some cards that allow up to 60 days to pay off with no interest which can be helpful on cash flow. Be wary of teaser rates that change to a higher rate after a few months as well as high annual fees and late fees or penalties.
I highly recommend that you look for a credit card which allows you to put your business name on the card. This is great advertising for free every time you use it!
I use a cash back card for my business and for my personal expenses. Depending on your business setup, check around for cash back cards, especially if they have higher cash back in in items that your particular business uses frequently. Some have a higher percentages back for office supplies, gas or home supply stores. If you travel a lot look for travel rewards like flier mileage. The cash can be as high as 5% back. I get back $50 to $100 a month usually and we are a very small business. Check and see if the rewards have a cap of say, $500 per month.
If you carry an amount owed from month to month then look closer for a low interest credit card rather then a rewards card that may have higher rates. There are some cards that allow up to 60 days to pay off with no interest which can be helpful on cash flow. Be wary of teaser rates that change to a higher rate after a few months as well as high annual fees and late fees or penalties.
Some popular credit card companies for business are Advanta Capital One, Discover and American Express.
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