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As a start-up entrepreneur, one of the things that you will learn is that once you get business credit cards, instantly you will start getting offers left and right from other financial agencies and will often hear offers that sound too good to be true. In order to avoid falling into a bad credit card trap, it is helpful to know what credit cards are the best to purchase, and which ones you should avoid at all costs.
The first thing to know about business credit cards is that they should always pull from and only from your business’s credit profile and not from your personal profile. This will ensure that you always have a solid credit score and don’t have to worry about too many pulls being made on you from multiple directions. (Sometimes getting the first one of these is difficult and you may have to apply around a good bit in order to find what you want, or simply apply for a secured credit card to get the ball rolling.) You also want to make sure that your interest rate is solid and isn’t subject to any sudden rake hikes. Talk firmly to your credit card representative, business credit cards instantly know how to respond sharply to certain responses, but if you ask them directly you will be able to make sure that the card you are getting is good quality.
Lastly, you should also take a look at the benefits that your credit cards are offered by your business credit cards. Instant, no-interest periods are well and good, but you will also need to know that the redeemable rewards will be something that you can use. Know the difference between generic air miles rewards and miles offered by individual airlines, and know how much your cashback offers are worth. Business credit cards are ultimately a good deal, as long as you know how to handle them.
