As with any application, it is a good idea to know what it takes to get approved, including the sources they use to check credit. As a small business owner, It is important to know that a true business credit card will report to at least two of the three business credit reporting agencies and should not show up on your personal credit reports.

Understand there is a difference between long-term rates and introductory rates. By examining your credit card statement carefully, you can expose changes in the interest rate, hidden fees, annual fees, balance transfer rates, late charges, cash advances and grace periods.

Know the benefits:

  • Use their reporting services to track and reconcile business expenses
  • Streamline cash advances
  • Build business credit
  • Monitor employee spending
  • Better manage vendor relationships

Finding the Right Business Credit Cards

Among the many advantages to having business credit cards, building strong business credit scores is one of the greatest.

Due to the volatile credit environment, banks which issue business credit cards typically make an inquiry on the applicant’s (usually an officer of the corporation) personal credit in order to approve, but after approval they do not show up on personal credit reports. With a little on-line research, you can find banks that are willing to lend, keeping in mind your credit history will be the largest deciding factor of approval and what rate you will pay.