Business Credit Card

My husband runs his own subcontracting business and he is needing to apply for a business credit card. I researched some and so far Discover's business card seems good. Any other ideas?

Well, if he's not planning on carrying a balance and just funneling his spending through a credit card and paying off the balance each month, then you'll want to get the business rewards card that pays the most (e.g. cash back reward) for what his business buys.

You can use this rewards calculator to see which business rewards card will pay him the most in rewards for his business's normal spending profile:
http://www.creditcardtuneup.com/?card_ty pe=Business

2008-09-23 10:43:20 by Amanda

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I have good credit and im in the market for a business credit card. What company offers the best rates, offers, cash back programs ect? Please give me some ideas on programs i should look into from the major cards like, AE, Discover, MC, and Visa.

I use Discover for business and Chase for personal. Here is why:

Discover has had a long tradition of being different. When the Discover card was first introduced there was no annual fee, - that may not seem like a big deal but back in the day it absolutely was. Discover credit cards also offer cash back rewards.

For a business using Discover for their corporate credit cards this is a big advantage - you get cash back for spending. And the best part about using these particular corporate credit cards is that the cash back rewards are targeted at specific purchases that you will make as a business, such as gas, travel and office supplies.

The current standard APR on Discover corporate credit cards is 13.99%. There is also a 0% APR introductory offer. Remember - these cards come with a grace period of at least 25 days when you pay the balance in full each month. This means you can run your business interest free on Discover's money in 25 day cycles.

A lot of the others have shorter grace periods - something most consumers don't think to check up on.

2008-03-20 06:59:10 by Evilish13

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I am trying to consolidate my bills and get my credit clear so I can start a business.I have very,very bad credit and I am tryiing to start a business. How would I get a credit card for my business with extremly bad credit. And who will except me?

It's all tied to your social security number. Business doesn't matter.

Before you do ANYTHING listen to this. Scroll down and click "Listen to Dave". JUST LISTEN.
http://www.daveramsey.com/tdrs/index.cfm /2007/9/17/Getting-rich
This one audio clip of his CHANGED MY LIFE when I heard it.

Listen to this man for free, on the radio or online. This is like getting financial wisdom from Bill Gates except this guy has a national radio show.

2008-01-06 02:39:48 by raymond m

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I have $30,000 and think to get business credit card. What is the average credit limit on a business credit card? What information will I need to provide?

First of all you can lend me like $800.00 and you'll be okay. But your credit limit depends on you credit. If you use American Express that darn Charge card, then you are going to get something like No credit limit which looks bad on your credit score. So You might wonna go with so mething that is around $20,000. If any thing goes wrong and you are suddenly out of work or you have to shut your business then you that that thirty that you are saving and stick it on the credit card balance. Remember you won't go over tweny. You will need to provide work history, SSN, and amount you have in savings. If you have a checking account then that will also be helpful.

2007-01-15 04:54:17 by dakeen forx

Help! I'm trying to start up a business and all I need is a $10k business credit card. But I have a bad credit rating and so far lenders insist I must have a strong co-signer. But I can't get anyone to do this for me (long story) Any suggestions?
In answer to the first responder, it's a self-employed business. I'm the only employee. It's a long story but my personal financial mess is a combination of the high tech collapse (I'm an engineer) that has gone on 6 years, 3.5 years unemployed for myself. Plus, I have a medical condition. I finally made a bold move to get around the medical condition so I can start my own business, now all that is stopping me is a co-signer. I agree, it's not an enviable position but I have no other choice. Is there any way to get a credit card without a co-signer when you have a bad credit rating?

Actually, it's a short story. No one else wants to stick their neck out (co-signing) to cover your debts after you have shown little ability to handle your own affairs. They will be 100% financially responsible if you default on your debts and they know it. Operating a business is like operating your own financial affairs on steriods.

Who in their right mind would start a business on credit card with up to 32% anual interest? That is a very large nut to crack on top of paying for employees,your wages, materials, rent,phone and lights.... then look for making a profit too???
Tell me what kind of business you are going into that has a 32% profit after all expenses and I will start one in a heartbeat (as long as it is legal to do so)

Maybe you had better sit down and work out a business financial plan... then work towards fulfilling it and obtaining the capital you need by working and saving the start-up funds... then someone might be willing to listen to your business idea. If you don't believe in yourself then others will not believe any differently. There is no shortcut to success. Those who cut corners are the first to fail.

Response to additional details:

The most probable way you will get a card is with that much money in their account. Your credit limit will match the amount of money in the savings account held by the credit card company. That way you can start building up a history of purchases and paying the bill on time. You have to re-establish a history of being reliable. After a couple of years of a spotless record, you may find someone who is willing to issue you limited credit and further build from that. I know you are looking for a fast way to do this.... sorry probably not going to happen.

I am not trying to beat up on you... I am trying to show you how others (creditors and co-signers) will look at this. Even if you have lost your job,any work is better than none... even fliping burgers. 10 G's is not an undoable amount but it might take you 1 year to get there working minimum wage. Hopefull you will do the numbers and see that if you are holding 10Grand worth of debt on a credit card, your whole business profit will go to support the debt and you are working for nothing.

If you were an engineer then you are used to solving problems with a systems approach and a thorough evaluation. It doesn't sound like you are using your formal education on this new problem. Please write up a plan and look at all the issues systematically. Form a feasable plan and go after your dreams.

Hope that helps

2007-03-16 13:22:48 by almcneilcan