The Best Small Business Credit Cards

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Having a line of credit handy is extremely important for a small business.

Honestly, you never know what kind of expense may creep up that you can’t cover with your cash flow at the moment.  But it’s not easy or practical to get a business loan in a tight jam.  What to do?

Enter small business credit cards.

Not only do they provide credit, you can also find benefits such as cash back, rewards, flexible payment terms, separate tracking for business expenses, and more!

Is a business credit card always the best option for you?

No.  The CARD Act of 2009 put consumer protections in place for consumer cards but those protections aren’t mandatory for business cards.  Also, if your business expenses don’t justify a line of credit then you may be fine without a business card.  You may also find that you would be better off with a specific airlines miles card or travel rewards card that gives you better suited benefits than a card for your small business.

But if you are looking for a line of credit that’s separate from your personal cards or you are looking for a card that offers small business tools that will benefit you, like discounts or employee tracking, then a small business credit card can be a great choice.

Below are some of the best small business credit cards.  See which one best suits your business needs.

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Will a Late Credit Card Payment Affect My Credit Score?

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The most important aspect of your credit score is your payment history.

As a result, a late payment can have a profound impact on your credit history.

That late payment is recorded on your credit report, and the information in your credit report in turn influences your credit score.  And, since your payment history accounts for 35% of your credit score, a late payment can make a big difference.

But how late does a credit card payment have to be in order to be considered late?  Will your credit score really be dinged if you are one day late?

The answer depends on your own behaviors, as well as the policy followed by the creditor in question.

When is a Payment Late?

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SimplyCash® Business Card From American Express Earns Your Business Real Cash – Right Away

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The SimplyCash® Business Card from American Express is the easiest way your business can earn cash back for every dollar you spend.

There is no hassle, no claiming your rebate, no earning an arbitrary amount of cash before you see your rewards.

Instead, the SimplyCash® Business Card from American Express automatically credits your cash rebates right to your account every month.  Best of all- there is no limit to the amount of cash you can earn.
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What Can You Expect From a Premier Credit Card?

One of the “rules of thumb” that is often expressed when it comes to credit cards is that it’s important that you avoid paying an annual fee.

Even with rewards credit cards, many suggest that you stay away from the annual fee.  After all, your annual fee reduces the value of the rewards that you earn.

There are some credit cards, though, that might be worth the annual fee.

These are premier credit cards, and they often come with annual fees that many of us consider excessive: $100, $200, or even $450.

Why would you pay that much for a credit card?

As with all things personal finance, it largely depends on what you expect to do with the credit card, and the benefits that you get.  If you really look at the perks associated with a premier credit card, you might be surprised.

Here are Some of the Things You Can Expect from a Premier Credit Card:

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Gold Delta SkyMiles Credit Card from American Express Review – 30K Bonus Miles and a Statement Credit

Do you travel Delta airlines? Want a better experience at the airport?  Maybe even a better experience on the plane?

How would you like to earn free flights for using your credit card?

You can have all this and more with the Gold Delta Skymiles® Credit Card from American Express.

Keep reading our review below and I’ll tell you why the Gold Delta Skymiles card may be a great card for you!

Earning and Using Airline Miles

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Discover® More Credit Card Review – 14 Months of 0% APR on Balance Transfers and Purchases

Discover More Card Balance Transfer

Are you looking for a new credit card to transfer a balance to?

How about one with 0% APR for new purchases?  Maybe a credit card that offers cashback rewards?

The Discover® More Card offers all of that and is worth looking into.

Let’s take a closer look at the features of the Discover More Card:
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Why Maxing Out Your Credit Cards is Bad

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Sometimes you just need more money—we all do sooner or later.

It could happen because you’re hit with a flood of very large and unexpected expenses.  Medical bills, legal fees and major home repairs are some of the expenses that come to mind.

It can also come as a result of an income disruption.

The loss of a job, or of certain employment related income sources, such as bonuses, overtime or commissions.  You may also decide to leave a steady job to start your own business and that will require money, not only for business investment but also for living expenses for the first few months.

At a time when credit is so available, there can be a temptation to tap credit lines to cover the losses.  You might do that with the assumption that you’ll be able to pay them all back when your expenses have passed or when your income goes back to normal levels.  But we should never assume that.

One of the problems with tapping credit to cover living expenses is that once you get comfortable doing it—or other options fail to develop—you run the risk of maxing out your credit lines.  That’s easier to do than you might think.

Once you max out your credit lines, you’ll have a new set of problems to deal with.

Here is why maxing out your credit cards is a bad idea.

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