Owning a business takes a lot of money and there are typically many transactions involved. That’s why it is a good idea to get a business credit card. A business credit card offers the convenience of use and many benefits.

Why Get a Business Credit Card?

The benefits of getting a business credit card include:

  • Financial flexibility and immediate access to funds. A card can be used to purchase inventory, supplies, or anything that you need.
  • Separation of personal and business expenses. This is key to keeping the IRS happy and eliminating confusion at income tax time.
  • Perks like points, cash back, discounts, or other rewards that can benefit the business.
  • Higher spending limits compared to personal credit cards.
  • A means to improve your credit rating.
  • More organized and easier record keeping.
  • Higher purchase protection.

Do I Qualify for a Business Credit Card?

Qualifying to get a business credit card is not difficult. You simply need to own a legal business or be starting a new business with the reasonable intent to pay expenses and make a profit. That can include being a “one-man show” or a full-on business with employees.

How to Get a Credit Card When Starting Your Business

The first step is to check your personal credit score.
Research various business credit card options to ensure that you find one that meets your business needs and desires for card benefits. Make sure that the card chosen reports to a business credit-reporting agency.
Complete an application. The application will ask for a lot of personal and business information including the legal business name, business address and phone number, tax i.d. number, personal income, and social security number, and more.
Know that a relationship with a bank helps.
Wait for credit card approval, then use the card wisely.

Seek Expert Financing Assistance

Contact TopFund Capital, based in Cleveland, OH, for a range of commercial finance products designed to help businesses succeed. All come with competitive rates, generous terms, and superior customer service.