Looking for the Best Credit Card for Your Business?

by : Ray Torres

As a manager or business owner, you always look for better ways to maximize business revenue and control expenses. When it comes to "common expenses" a business credit card is absolutely essential in managing and tracking of those expenses. Whether you are a corporate employee who travels to customer calls or a small business owner who handles all purchases yourself, you need a business credit card that works as hard as you do.

Banks are quick to offer their credit cards to you for your small business or corporation when you open a checking or savings account with them. While it is easy to sign up for, don't assume it's the best deal.

It is important that you shop smart for a business credit card. Compare features and benefits and even be a bit selfish when it comes to building the credit of your new company. Look for a credit card with low or no annual fee.

You are already paying interest on your purchases, so why would you pay a company more just to own their card? You can find a good business credit card deal with low or no annual fee if you check out the various credit cards offers available online.

Sit down for a moment and think of how your business credit card is used. If you regularly charge travel or office supply expenses, then you may want a low APR, that's the Annual Percentage Rate - or the amount of interest you pay on the outstanding balance.

If your businesses consistently keep monthly balances, every percentage point saved is money back in your favor instead of paying more to the credit card company. Credit card companies want your business account, so they offer even more than good rates - they even offer bonuses!

A popular company credit card bonus is airline travel rewards. You earn points based on qualified purchases for airfare, hotels, rental cars, office equipment or computers. These points can be redeemed for gifts, restaurant meals or travel.

For a small business or corporation whose employees travel regularly, the points will add up fast may even pay for part of the next round of business travel. If your business travel is predominately on one airline, you can get a credit card sponsored by that airline. These cards tend to build up mileage rewards even faster.

Some credit cards offer cash back bonuses. As this is kind if bonus is more costly to the credit card company, so don't be surprised to find that cash back credit cards also have an annual fee that ranges from $25 to $100.

Unless your business uses the card enough to get back more cash that what you pay out for the annual fee, then this card may not be the best deal for you. Small businesses will find what corporate managers already know - that a business credit card is an excellent way to keep track of business expenses - including travel and client entertainment.

Some credit cards provide detailed expense reporting, which delights the accounting department. Once the business qualifies for the business or corporate credit card, additional cards can be obtained for other employees.

As you can see banks are getting creative when it comes to offer their business credit cards to you, but a being clear on what you want and a little shopping and comparing before making a decision can go a long way in finding the best one for your business.