Credit Cards

Credit Cards For Business Start Up

Credit Cards For Business Start Up

Starting a new business can be both exhilarating and nerve-wracking, with plenty of decisions to make and expenses to cover. One essential tool for your start-up is a business credit card. With so many options on the market, it might seem daunting to choose the perfect credit card for your needs. That's where Flik Eco comes in – we're here to guide you through the complex world of credit cards for business start-ups and help you make an informed decision.

Why Choose a Business Credit Card?

Having a business credit card can provide several benefits to your start-up. Some of these advantages include:

  • Separating personal and business finances - this helps simplify accounting and tax preparation.
  • Building business credit - a solid credit history can help you secure better terms for loans and credit lines.
  • More comprehensive rewards programs tailored to business expenses, such as travel, office supplies, or advertising.
  • Higher credit limits to meet the demands of a growing business.
  • Employee cards with customizable spending limits and the ability to track expenses easily.

Key Features to Consider When Choosing a Credit Card for Your Business Start-Up

When selecting a credit card for your new business, it's essential to pay attention to these key features:

  • Annual fees: Many business credit cards come with annual fees, ranging from $0 to over $500, depending on the card's features and benefits. Consider whether the value of rewards, benefits, and services offered by a particular card justifies its annual fee.
  • Rewards programs: Look for a card that offers rewards specific to your business's common expenses, such as travel or office supplies. Evaluate the rewards structure (cashback, points, or miles) and consider where you can redeem your rewards.
  • Introductory offers: Many cards offer sign-up bonuses and 0% introductory APR periods. These can help you finance your initial start-up costs or earn bonus rewards quickly.
  • APR and interest rates: Your card's interest rate will impact how much it costs to carry a balance. Keep in mind that lower interest rates usually come with higher annual fees.
  • Additional Benefits: Consider other perks that come with the card, such as purchase protection, extended warranty, and travel benefits. These extras can add value to your business and save you money.

Credit Cards For Business Start Up Example:

Imagine you're starting a digital marketing agency, and you spend a lot on advertising and office supplies. The American Express® Blue Business Cash Card could be an ideal fit for your start-up, as it offers a simple rewards program and various valuable benefits.

The Blue Business Cash Card features:

  • No annual fee
  • 2% cashback on all eligible purchases on up to $50,000 per calendar year, then 1% forever after
  • 0% introductory APR on purchases for the first 12 months, then a variable APR
  • Ability to spend beyond your credit limit to help with cash flow
  • Free employee cards with spending limits

This card provides a simple cashback rewards structure, has no annual fee, and extra benefits that make it an attractive option for a start-up like your digital marketing agency.

Choosing the right business credit card for your start-up might seem like an overwhelming task, but with some research and an understanding of the critical features, you can find a card that suits your business's needs. Evaluate your spending habits and priorities, and make sure to compare cards that cater to your particular situation. A well-chosen business credit card can be a valuable tool that helps you manage your finances, build credit, and even earn rewards to support your growing enterprise.

Don't forget to share this information-packed guide with your fellow entrepreneurs and explore other helpful resources on Flik Eco – your source for personal finance advice and insights tailored to millennials!


About Jermaine Hagan (The Plantsman)

Jermaine Hagan, also known as The Plantsman is the Founder of Flik Eco. Jermaine is the perfect hybrid of personal finance expert and nemophilist. On a mission to make personal finance simple and accessible, Jermaine uses his inside knowledge to help the average Joe, Kwame or Sarah to improve their lives. Before founding Flik Eco, Jermaine managed teams across several large financial companies, including Equifax, Admiral Plc, New Wave Capital & HSBC. He has been featured in several large publications including BBC, The Guardian & The Times.

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