Business credit cards are a specific niche in the credit card platter and are meant for entrepreneurs and businessmen. If you are businessman and are planning to apply for a business credit card, you would first need to evaluate the market and make your decision based on your peculiar needs. See, business credit cards are themselves subdivided into specific niches. For example 'corporate credit cards are different from 'small business credit card'.
cards are issued to organizations that are large in size and have significant
revenues and workers. Small business credit cards on the other hand are meant
for small sized companies and single proprietorship. The difference between
these two types of credit cards lies in their inherent costs. The annual fee
and interest rate (APR) charged on a corporate credit card is usually higher
than that charged on a small business credit card. However, the credit card
company issuing you the card would verify your 'credit history' before issuing
you the card. The credit limit extended on the card will however depend a great
deal on the size and structure of your business.
In the last few years, given the somber economic situation credit card companies scaled down on business credit cards. Taking stock of the current credit situation, I believe you should apply for these two best business credit cards in the market. If you apply for the cards mentioned below, there is strong chance that you will be approved (as long as you have a respectable credit rating).
Best Credit card option for Extended
Financing and Cash Back options:
The American Express Open's Plum Card deserves a place in every entrepreneur's wallet. As long as you're regular with your payments, the Plum Card will give you dollar rebates on all your purchases. Moreover, even if you aren't able to pay the full amount and just clear a part of the payment, the company will still give you an extended line of credit that will go beyond the usual 30-day grace period. The Plum card is a great option for well-established business that need several lines of extended credit. While the annual fee is a little higher than regular credit cards, it's still a small price given the benefits of a card that offers you such 'plum' financial benefits.
Best Credit Card Option for Startup Financing, Low Interest Rates and Balance Transfers
If you have just started a new business you would obviously love to have a card that offers a 0% APR (interest rate) on capital purchases like equipments and other startup costs. The Universal Business Rewards Card of AT&T actually offers an incentive of 0% APR on your purchases for six months. So during the most crucial period of your business your purchases won't cost you anything extra. Moreover, you will also earn five reward points for spending on any AT&T related services and three reward points on every dollar you spend on professional services, office supplies like stationary and small electronic equipments and gasoline. The card also gives you the power to set credit limits for all your employees.