New Small Business Credit Card!
Are you looking for a new small business credit card?
If you are starting a new business or already have a small business it may be a good time to check out some of the small business credit card offers.
Credit card companies are always offering some appealing credit card offer just to gain your business. Some will offer different incentives for small businesses than for personal type credit cards.
Depending on how you plan to use your business credit card you want to think about the type of card that can best benefit your small business before you apply for any card.
When you decide to start looking at new small business credit card offers, there are always a few things you should consider.
Things to look at
First, you want to compare the APR or interest rates. Find out what the going rates are and shop accordingly for one that offers good competitive rates or incentives. Many will offer introductory rates, and then raise them after the introductory time is over. Find out what the rate will be after that. And, if you plan on carrying a balance on your cards this can be a real deal breaker.
Find a card with a low annual fee or even better a no annual fee. Certainly avoid ones that want to charge a new card fee or an application fee.
Do you need travel points? Airline miles and hotel stays? Some cards offer points towards traveling as incentives. Only pick this if you will actually use them.
Do you need cash back? (Who doesn't?) Maybe you don't travel and would benefit more from simple cash back options on amounts charged. This type of incentive is very big and popular. Many new small business credit cards may offer this along with other incentives.
Last, but not least, read the small print and find out if you will be penalized for paying the card off in full each month. Look at their minimum payments and be mindful of any penalties for paying late or going over the limit. Some penalize by raising their rates or adding an annual fee or taking away travel incentives or cash back bonuses.
A new credit card may save you money, so regularly check offers anytime you may be considering getting a new business credit card.
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