How to Choose the Right Business Credit Card
As a business owner, the financial choices you make can have a big impact on your company’s success. Whether you’re managing a startup or overseeing a well-established business, a business credit card can be an essential tool. It can help streamline expenses, build business credit, and even offer all types of rewards. But with a large choice of options available, how do you choose the right business credit card for your business? Here’s a comprehensive guide to help you navigate this important decision. Be sure to watch the video where we break down the five types of business credit cards available in the marketplace.
1. Assess Your Business Needs
Before diving into business credit card options, pinpoint what your business truly needs. Are you looking for a card that offers travel rewards, or are cash-back incentives more appealing? Does your business require a high spending limit, or is a lower limit acceptable? Understanding your priorities will make it easier to narrow down your options. 
Consider the nature of your expenses. If travel is a large part of your operations, a card offering travel rewards and benefits like free airport lounge access or travel insurance might be best. For routine expenses, cards with cash-back incentives for these categories can result in substantial savings.
2. Evaluate Fees and Charges
Not all business credit cards are created equal, especially when it comes to fees. Annual fees can range from zero to several hundred dollars, depending on the features and benefits provided. Some premium credit cards for businesses offer high-value rewards that might justify hefty annual fees, but be sure to calculate if the return from these perks outweighs the cost.
Additionally, scrutinize interest rates, especially if you plan on carrying a balance from month to month. Business credit cards may have variable APRs based on your creditworthiness. It’s important to choose a card with a competitive APR if you’re unable to pay off your balance in full each billing cycle. There are many 0% intro APR offers you can find with business credit cards, consider taking advantage of our free pre qualification review for business credit card funding.
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