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How to Choose the Right Business Credit Card?

18 December 2009 by CreditCardsCo™

Choosing the right business credit card is important for many reasons. First its business and the wrong credit card can lead to a collapse or contribute towards it. Secondly, you don't want to end up with thousands of dollars in debt and by choosing a business card that's suited to your business, you'll save hundreds (maybe thousands) of dollars each year. The third reason for choosing the right business credit card lays in common sense. Why choose one that doesn't suit you when there are a million others that do?

Create a long list of card features

Jot down the answer to these questions and any others you come up with:

"Would you like to be insured?", "Do you want perks and rewards?", "Are you going to transfer balance from another credit card?", "Would you take the card overseas? Or Does Business require you to travel frequently?", "Do you intend carrying a balance?", "How much credit do you require?", "Do you want concierge services?", "Would you order employee cards?", "How much interest can you cope with?"

Be sure to think over each of these questions and answer them correctly.

Create a Business Card's shortlist

Once you've come up with a long list of 'yes' and 'no's', your next step should be coming up with a shortlist of business cards that match your criteria. Work on those cards that have more 'yes' than 'no's'. You should do this by reading reviews and going through the features of these credit cards as discussed by reputable websites such as ours. Click Here to see our Business Credit Cards.

Read the Fine Print (No matter how small)

This is probably the most important thing for you but a lot of us just glance through and think we've read it. Sorry but this is why these credit card companies would take extra care to print the very important details in tiny print so people who glance through feel they've gotten a good grasp of what the document contains whereas they've skipped important details. Reading the fine print isn't something to do once your card has arrived in the mail. If you intend sending in an application over the internet, be sure to READ and UNDERSTAND whatever it is in the fine print. If there's a lot of jargon that goes beyond your understanding, contact a friend or professional to help you out.

Conduct a Small Investigation

It's not uncommon to see 'the perfect credit card offer' turn out to be not so perfect after a Google search. Conducting a small investigation online should take you to credit card blogs and consumer forums where you'll have first hand views on how good a card truly is. Try as much as possible to get the pros and cons of the card from the perspective of a current customer. This process might take a day or two but think of the benefits of choosing the right business card and you'd know to send an application whenever you're confident in the offer.

Don't apply for a Million Cards at once

It's said that applying for more than one credit card at once jeopardizes your chances on both cards. Choose one credit card that seems right and send your application as soon as possible.

We've led you from the initial stages of selecting potential credit cards to verifying card features and finally applying for just one credit card at a given time. If you've followed these steps correctly your chances of choosing the right business credit card are not guaranteed but they're much higher than someone without the knowledge.

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