Credit Card Basics

Compare the APR, introductory rate and rewards programs of small business credit cards

When you own your own business, you’ll want to get the best credit card offers for your company. Business credit cards can give you a low APR on purchases that you make as well as earn rewards. 

Credit card providers will try to attract business owners with benefits like a low introductory APR. During this promotional period, you’ll likely pay 0% on purchases made. Introductory periods will typically last anywhere between 6 to 15 months.

1. Learn about business credit cards basics. Find out the different types offered, such as rewards cards that give customers cash back, air miles and more. 

2. Research the different credit card providers available. You can use online comparison sites that rate providers as well as gives information about the card’s features.

3. Apply for a credit card. Once you find the best deal on a company card, you can apply for a credit card online. Web applications will go through processing much quicker than mailed applications.

Learn the basics of a business credit card

If you have never selected a credit card for your business, you'll want to look through information to determine how to best make your choice. You can find several sites that can give you insight into making your selection and how a card's finance charges are calculated. 

Compare and apply for online credit cards

Since the credit card market can be competitive, you'll want to use comparison tools to make your credit card provider selection. Comparison sites will post the introductory APR, promotional period, annual fee, setup fee and fixed or variable APR after the promotional period ends. 

Use a business credit card to make purchases

Once you receive approval for your credit card, you'll want to learn credit management techniques to help improve cash flow within your business. A small business owner can use the credit card to finance purchases until payment arrives for goods or services. 

• You may want to get a copy of your credit report prior to applying for a business credit card. Credit reporting agencies allow you to access your report once a year for free.

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