Best Business Credit Cards for Building Credit

Building business credit with a personal credit card

Due to the scarcity of business credit cards for persons with bad credit, business owners may want to explore using a personal credit card to improve their credit rating and increase their chances of obtaining a business card in the future.

1)   Business Credit Card DIVVY

Business owners with no established credit wish to supervise their cash flow and expenses with a business credit card. Every firm is approved by Divvy, and interest rates are determined based on your company’s credit record and scores.

FEES: There are no annual fees.

Benefits:

1. Unlimited staff cards
2. Reward points for all purchases
3. Free expenditure management and financial software
4. Reward points for all transactions
5. Track expenditures in third-party accounting software
6. Establish business credit to qualify for reduced interest rates and larger credit limits

2)  BREXIT Credit Card for Business

Businesses that need to establish company credit, don’t want to pay fees and require bigger credit lines on a business credit card.

Fees: There are no annual fees.

Benefits:

1. Keep track of your costs.
2. Program with no limits on incentives
3. Bill payment on a regular basis
4. Spending management software is available for free.

3)  The Business of SECURED WELLS FARGO

The Wells Fargo Business Secured credit card is an excellent choice for business owners that need to establish credit and can afford a higher security fee. The limit on this card, like other secured credit cards, is determined by the amount you deposit. It also has a rewards program and doesn’t charge fees for international transactions.

FEES: There is a $25 yearly cost per card, with a maximum of ten cards per company account.

Benefits:

1. There is no protection against liability.
2. A credit line of $500 to $25,000 is available.
3. There is no charge for international transactions.
4. Fees for variable balance transfers and cash advances.

— B O N U S —

** GOLD CARD OF AMERICAN EXPRESS FOR BUSINESS **

1. Online merchants might save a lot of money on delivery.
2. The American Express Business Gold Card delivers four Membership Rewards points for every $1 spent in two of the card issuer’s designated monthly spending categories. After you’ve reached the $150,000 cap, you’ll get one point for every $1 you spend.
3. Plus, after spending $10,000 on purchases in the first three months after opening your account, you can receive 70,000 Membership Rewards points.
4. However, because there is a $295 annual charge, you may want to wait until the sales begin to apply for this card.  

Tips for building your credit

Regardless of whether you utilize a secured or unsecured card, there are various ways to start establishing your company credit once you’ve decided which card best matches your current needs:

Make sure you pay all of your payments on time. Whatever loans and expenses you have, it’s in your best interest to pay them off as soon as possible and in full.

Use less than 30% of your available credit whenever possible. This is referred to as credit utilization. High credit use is linked to persons who frequently miss payments, according to credit bureaus. Low utilization rates are rewarded by these bureaus.

Helping with a lot of information that you need to find if you are thinking about buying a credit card, Debite is the best website that helps you to find it. You can do research and decide what is suitable for you with Debite.