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Small Business Offers
As an owner of a small business you have two different types of offers available. You may elect to carry a business charge card or a traditional revolving balance offer. In our small business section you have the ability to view leading current deals available and when you have found a product that best aligns with your lending needs, you may click on the apply button to be redirected to that bank's official website where you may fill out a secure application.
Small Business Credit Cards vs. Charge Cards
When making the decision as to which type of small business offer you plan on carrying you need to take a good look at your operation from an objective standpoint. How solvent is your company and how healthy are your books? Are your accounts receivable greater than the amount of cash available in your bank account? Are there expenses down the road which are the reason why you're looking for an offer? Once you've answered these questions, it's time to make a decision.
If you intend to use your card strictly as a means to either earn rewards for business expenses (travel, supplies, etc.) and have the intention, and firmly know, that you will be paying your bill in full at the end of every month, you may want to consider a business charge card. The rewards benefits are typically slightly more lucrative with these in respect to bonuses and overall earning potential. The one caveat is that all of them come with an annual fee, though in some cases it is waived the first year. Even with the fee, the rewards program in most cases subsidizes the cost and the earning potential is very high if you put a lot on the card. The general rule of thumb is that every 10,000 points translates into $100 so and because there are usually initial sign-up bonuses as well, the fee is usually more than covered the first year if it isn't waived. Most business owners who spend a lot through their operation and pay their balance in full at the end of the month anyway elect to go with small business charge cards.
On the other hand, if you are intending to carry a balance or are going to use your card for expansion purposes, you're going to want to get a traditional small business credit card. If you do get a charge card instead and don't make your payment on time, the issuer will usually revoke all rewards points or rebates that you have earned. Some business credit cards also allow for balance transfers so, in some cases with 0% rates so if you have debt on another offer that you want to transfer, you may want to select a business balance transfer offer. Note that some also come with the added benefit of 0% rates on purchases.
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