Best Credit Cards for Small Business
The types of cards meant for crediting businesses are different as the businesses are different according to their specialization.
Therefore, there is no strict-rule-like opinion as to the question which existing credit cards for small business are good.
Though, in the result of polls we get a more or less common opinion concerning the most appropriate credit cards.
All About Rewards
Recently it has been noticed that most of the best credit cards for business offer their holders certain rewards. Meanwhile, such rewards become the main advantageous feature for an attractive credit card.
Easily obtainable generous rewards are a perfect way to return a certain sum of money from purchases. Sometimes the rewards return up to 5% of the sum spent on some equipment, office supplies, cable and telecom services, gas and so on.
The conditions for getting those rewards are different. Sometimes you should make a purchase or pay a minimal denoted sum for some services.
Another common condition is to spend a certain sum of money on certain services. Choose the credit card the conditions of which seem the most suitable and fitting your business specialization.
Give Another Thought to Fees
The fewer and the lower the fees are, the better it is for a credit card holder. What fees are taken as common for the best credit cards for small business?
Commonly met types of fees are for:
- a year-round usage;
- foreign transactions;
- balance transfer;
- missing or even skipping the date of payment;
- cash advance;
- returned payment.
The most attractive feature characteristic to the best credit cards for small business is to keep from assessing fees for payment delays. Some credit cards providers really provide their clients with a possibility to bring their payments after the deadline without any penalties.
Though it’s necessary to remember that it will still spoil your credit history with a negative entry.
Variable or Zero APR
No cost APR is a good incentive for credit cards for small business. And the longer the term of intro APR, the longer you make purchases without paying any extra fees. At the same time, a long term of the intro APR can be a kind of a catch because when the introductory term is over, the actual APR that is not the lowest comes forward.
Probably, it would be clever to count your profit considering the minimal APR and the one that you will have to pay according to the type of your purchases and the type of your credit card, because APR varies depending on those things.
The optimal zero introductory APR is about 18 months. Though, if you make a thorough search, you are sure to find the one termed up to 21 months. And still it is better to pay more attention to the minimal APR that is variable and compare it with that of other credit cards.