Best Business Credit Cards For Small Business

by : Robert Willard

Obtaining one of the best business credit cards available for your small business is an important part of securing the financial future of your business. There are numerous credit card lenders offering cards for small business, in the hopes of providing a means to help finance your small business. The benefits of using these cards are numerous. Locating the best business credit card for your needs first requires an assessment of what essential features that you'll need your card to provide.

Qualifications Are First Step

The first step in getting the best business credit cards is qualifying for them. As with all lines of credit, the same things are important with these credit cards. Look for offers that provide low finance charges and generous credit limits. If you are just starting out, your business is likely to need your personal credit history in order to vouch for your creditworthiness when securing these lines of credit. The best business credit card for your business, then, is the one that allows you the most flexibility, the lowest financing charges and the highest limit available to you.

Bookkeeping Made Simple

One of the benefits of securing the a business credit card is obtaining the ability to consolidate and manage your expenses on one or several cards. For example, if you have a business credit line, you can make payments to all your business expenses through that credit line. At the end of the month, you receive a statement which provides line items of every expenditure that you have made. You can see who you paid, how much you paid and not have to worry about how much money is in the current account throughout the process. The best business credit cards will offer the capability of downloading your statements online. This type of feature can really simplify bookkeeping.

Giving You Back Something

Some of the best business credit cards are those that give you cash back or other rewards. If you need to do a lot of traveling, then securing a card that offers frequent flyer miles can be beneficial by providing a return on investment for your spending with a specific card. Some lines of credit will offer you alternatives when redeeming your rewards -- air miles or cash back rewards, for example. Simply put, when you use your card, you earn points for every purchase. The best business credit card offers will allow you to earn additional points or a premium for purchases of business-related expenses. When utilizing a business credit card rewards program, you should keep your day to day purchases separate from your business purchases in order to simplify your accounting process. You should use a separate rewards card for your personal expense items, if you want to take advantage of earning rewards on those items. Nevertheless, every business can benefit from the intelligent use of solid business credit card and its corresponding rewards program.

Adding Capital

Perhaps the most important reason to find the best business credit card is that it will provide much needed flexibility for your short-term working capital requirements. In other words, you'll have credit available to you when you need it, helping you ease the burden of any short-term cash flow restrictions.

For those that wish to earn something back or just want an easy way to manage their expenses, business credit cards, when used judiciously, are certainly a viable option for any small business owner.