Business credit cards are becoming increasingly popular with small business owners. A business credit card is a common tool for business owners to build their business credit history and increase their available credit line. In this article, we'll discuss business credit cards with 60 day returns, the benefits of having this type of account, and how to find the best provider for you.
Many business owners aren't familiar with the term “business credit cards”. Basically, they're just business cards that offer cash back or rewards for using it in a specific business. The cards usually have a logo or slogan on the front and include the business owner's name on the inside of the card. There are many types of business credit cards, so it's important to know what you need before you start looking.
Most cards will offer some type of reward program. The cashback or bonus is applied upfront, usually within a few days, usually as a percentage of the total purchases you make during the specified period. The greater the percentage you are earning, the larger your reward. Some cards offer the option of allowing you to select a higher reward amount, so be sure to look for cards that offer higher rates of return.
With these types of cards, the rate you pay for interest is different from most credit cards. Instead of making interest payments every month, you pay the interest during the promotional period. For the duration of the interest-free period, you pay no interest whatsoever. After the period ends, you will then have to pay normal interest. Most credit providers will allow you to pay the balance in full at any time without penalty.
Business credit cards with these features usually charge very high rates of interest because they offer such a big incentive. If you are lucky to get one of these cards, remember to pay off your balance before the promotional period ends. You can also look for 0% APR introductory offers on the first year of the agreement.
These business credit cards typically have one or two billing cycles. They are intended for small businesses that need a short term solution to budgeting. The cards usually offer the same services and rewards as other credit cards. It is important to read all the fine print carefully when you apply. Make sure you understand what you will be charged for, how long the zero percent APR term is, and what your monthly payment will be.
The introductory offers will typically last for a six month term. At the end of this period, you must make a payment or your interest rate will jump back up to a standard rate. It is not recommended that you pay off the entire balance at any time, but if you must do so, pay the minimum monthly payment.
If you are looking to reduce your business expenses, consider applying for business credit cards with low APR terms. During the introductory period, you will be able to purchase items at a discount. Since the cards usually offer no annual fees, you will be able to save quite a bit of money. When the interest rates begin to increase, it may be better to pay off the balance of the card and then transfer the balances to another introductory offer card. If you make large purchases during the promotional period, you will not have to worry about being penalized.
Look for business credit cards that offer reward programs. These can include frequent flyer miles and bonus points that you can use toward your business travel expenses. This can help you save quite a bit of money on your annual trip to Las Vegas for your . . . . . . business retreat. It is not uncommon for business credit cards to also offer additional savings if you choose to add your personal vehicle to your business vehicle insurance plan.
Be sure to carefully read the terms and conditions of the credit card as well as the fine print. If you find a rate that is too high, look for alternatives that offer a lower rate of interest or longer repayment periods. You will want to make sure you are able to repay your business credit cards each month without a large financial crunch due to high interest charges. Once you have paid off the balance completely, you will then be able to apply for a low interest rate credit card, which can save you even more money.
With business credit cards, you may also want to consider getting a business travel credit card. These cards can give you frequent flyer miles and bonus points for being loyal to your business. They may also offer low interest rates for a period of time. Look for business credit cards with rewards programs and flexible payment plans to make sure you will be able to keep up with all of your business expenses.