Tips For Picking A Business Credit Card

When someone writes a “rags to riches” story about a successful entrepreneur, it’s common for them to mention how the entrepreneur used their personal credit cards to tide the business over until it gained some momentum. While this makes for an interesting story, the reality is that using your personal credit cards for business purposes can create a lot of headaches when it comes time to compile any financial records.

In addition to making it easier to keep accurate records, using an actual business credit card can come with a lot of perks. Whether you’re launching a new one-person venture or are looking for credit cards for all of your employees, here are some tips to keep in mind:
Don’t Settle for Stingy Cash Back Terms
Although the nightly news may make it seem like the economy is still all doom and gloom, in reality credit card companies are more than willing to offer attractive terms to good customers. This is especially true for their cash back terms. While you may think that you’ll have to settle for a flat rate of 1%, there are better deals available. For example, the Ink Cash Business Card from Chase boosts a 5% cash back program for all business expenses.
Use 0% Interest Rate Offers to Your Advantage
Everyone knows that you should never use credit cards to spend more money than you can afford. With that being said, this advice doesn’t mean that you can’t use special offers to your advantage. For example, if a new card offers 0% interest for 12 to 18 months, you can use it in a strategic manner that allows you to free up operating capital for other expenses.
Focused Cards Can Be Really Great
Do you or your employees frequently take business trips? If so, you may gain a lot from a credit card that’s specifically focused on rewarding business travel. If your business falls into this type of category, you will likely benefit far more from a card like Capital One’s Spark Miles than you would from a business credit card that simply provides general incentives or rewards.
Don’t Get Punished By Fees
If you come across a business credit card that has great terms and comes with lots of special offers, you may be tempted to sign up for it right away. However, before you let your excitement get the best of you, be sure to take a close look at the fine print. The reason is that some business card providers charge hefty annual fees for all of the perks they provide. Since sizable fees can quickly diminish the attractiveness of what you thought seemed really appealing, take the time to ensure that you’re actually getting as much value as it initially seems.
Jeff Adcock is the president of which is a credit card processing company headquarted in Houston TX.