Are you seeking your very first small business credit card? Are you interested in making a change from the one you currently use? Either way, you need to know what types of things are most important.
The right credit card makes it much more likely that you will take advantage of the benefits. Conversely, if you don’t have a card you can trust, you may worry every time you pull it out to make a purchase.
Here are several things to look for in a small business credit card:
- Competitive Interest Rate
While a zero percent introductory rate is a big deal, don’t let this fool you. Once it expires, you want to know how much you will pay in interest should you carry a balance from one month to the next.
In short, the lower the rate the better the card.
- Rewards Program
If you plan on using your credit card often, you might as well receive something in return for doing so.
A rewards program allows you to earn points for every dollar you spend. You can then use these on things such as hotel rooms, airline flights, and much more.
- Low or No Fees
Every small business credit card will have some fees. Make sure you are familiar with these before you sign up.
For example, is there an annual fee? What is the fee if you make a late payment? How about if you use the card in a foreign country? The credit card company should be able to supply you with a list of fees. Review this closely before you do anything else.
If you take these details into consideration as you compare small business credit cards, you will find it much easier to settle on the one that is best for your company.
Do you have any other tips to add? Share them in the comment section below.
It’s like you’re on a misiosn to save me time and money!