What Is a Business Credit Card and How Does It Work?
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What Is a Business Credit Card?
How Does a Business Credit Card Work?
How to Use a Business Credit Card
Office supplies Advertising Business meals Utilities Travel expenses Inventory
How to Qualify for a Business Credit Card
Benefits of Business Credit Cards
Separate Business and Personal Spending
Build Business Credit
Get a Higher Credit Limit
Get Business-Related Perks
Drawbacks of Business Credit Cards
May Come with an Annual Fee
Fewer Protections than Personal Credit Cards
Limitations on interest rate hikes Prevention of double-cycle billing Limitations on fees
Your Personal Credit May Be Affected
May Have to Sign a Personal Guarantee
Applying for a Business Credit Card
Personal information (including your name, address, Social Security number, and possibly, household income) Company information (company name, address, and EIN, if you have one) Business structure (i.e., LLC, sole proprietorship, corporation, partnership) Age of business Type of business Monthly business revenue Monthly business expenses
Business Credit Card Rewards
Cash back Cash-back cards pay you back a certain percentage of every purchase. Some will offer a flat rate for all spending (such as 1% to 2% back), plus a higher percentage for spending in certain business-related categories. Points Points cards give you points or miles for each dollar you spend. In some cases, you may get bonus points for spending in certain categories.These rewards can typically be redeemed for travel, such as airline tickets and hotel stays. However, you may have other options, such as merchandise or cash back. Travel perks Some business cards will offer special status and upgrades for business travelers, such as complimentary TSA Precheck, entry into airport lounges, travel insurance, and deals on car rentals.
Restrictions That May Apply to a Business Credit Card
When to Use a Personal Credit Card Instead
are a freelancer are just starting a business, own a very small business have a side gig don’t have a lot of charging volume
Frequently Asked Questions
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