We're a new business which wants to establish a credit history. We're thinking a company credit card would help us do that. They all seem to rely on our president's credit, but we want to make sure our payment history accrues to the company. Is there a good no-fee card that will work for us?
2006-10-17 11:08:35 · 5 answers · asked by Anonymous in Business & Finance ➔ Small Business
For my small business, we use the UPS Capital card- since we ship with them anyway, it's nice to get the occasional $25 discount (rewards program) on our shipping bill. Of course there are plenty of other no fee cards to choose from, I'm sure you can find them online.
2006-10-17 11:12:10 · answer #1 · answered by morlock825 4 · 0⤊ 0⤋
Features: The features that these cards have are the same as those for the normal credit cards. But they are targeted toward the executives and businessmen. The card offers low interest rate at the introductory level, reward points on airline as well as cash back on the purchases, segregation of personal and business expenses, higher credit limit, reports detailing expenses etc.
Small Business Credit Cards for Business: Since small businesses have the potential for rapid growth, they form a potential market for the companies offering credit cards. The small businesses are always on the lookout for capital, and the credit card will offer them unsecured credit so they will not have to face cash crunch, thus aiding their success. At times, if the capital needed is more than the credit available, you can also take a loan against credit card to meet your financial need.
2006-10-19 22:23:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I am pretty sure that every business card you sign up for is going to ask for a personal guarantee by an owner. I say this from experience. I have yet to apply for a business card or any business credit that didnt ask for the owner's ss #.
2006-10-18 00:57:00 · answer #3 · answered by hirebookkeeper 6 · 0⤊ 0⤋
Like Morlock82 suggested, since there are many no fee cards, you might as well choose one that pays you rewards. I would add to that: Why not choose the one that pays you the *most* rewards? There is an easy calculator that will tell you which card will pay you the most rewards for your spending profile at www.creditcardtuneup.com.
You can use its business card calculator here:
http://www.creditcardtuneup.com/?card_type=Business
2006-10-18 14:36:13 · answer #4 · answered by moviegoer_j 3 · 0⤊ 0⤋
amex
2006-10-17 11:16:06 · answer #5 · answered by conanamor 2 · 0⤊ 0⤋