Business credit cards can help small business owners build their credit and access necessary business financing. Applying for a business credit card takes minutes, and you can even apply with your Social Security number if you don’t have an employer identification number (EIN). Following a four-step process can help you get a card, which includes…
5 Best Fuel Cards for Small Business 2020
Editor’s note: This is a recurring post with regularly updated card details. Using fuel cards at the pump is an easy way to save your business money, especially if you or your employees drive for work often. You’ll also be able to manage your company’s fleet vehicles by monitoring and controlling employee spending. The best…
How Do Credit Card Miles Work?
Credit card miles, sometimes referred to as points, are rewards some issuers offer cardholders for their everyday spending. You can generally redeem miles for travel-related expenses, including flight costs. While redemption values typically vary between cards, the best programs offer miles worth at least 1 cent per mile. What Are Credit Card Miles? Some personal…
COVID-19 Business Credit Card Guide
This COVID-19 business credit card guide provides you with practices that can support your business during a national crisis, including tips for using your cards, getting financial relief from your issuer, and protecting your credit. While business credit cards give you access to financing, you should still be conservative with your spending when revenue is…
7 Business Credit Card Tips
Business credit cards can help grow your small business, giving you access to capital with the ability to track and manage employee expenses. While these cards can come with rewards and perks that add value to your business, they can also help you build and establish a solid credit history. We compiled seven business credit…
5 Best Business Prepaid Cards 2020
Editor’s note: This is a recurring post with regularly updated card details. Prepaid business credit cards are designed for small business owners who can’t qualify for or don’t want a typical business credit card. They require fewer qualifications than business cards while also limiting the owner’s risk. The best cards can help small business owners…
9 Tips for Separating Business and Personal Finances
Separating your personal and business finances will help keep your business expenses organized. Incorporating your business, opening business bank accounts, and applying for business credit cards can help protect your personal assets and make bookkeeping much easier. We compiled nine best practices that can help you run your business successfully and track its overall financial…
Is It Illegal to Use a Business Credit Card for Personal Use?
While it’s not illegal to use a business credit card to cover personal expenses, this can cause confusion when it comes to tracking your business-related expenses. Business credit cards are best used to help separate your business and personal finances and maximize rewards for your company’s purchases. However, there are some advantages to using business…
Do Business Credit Cards Affect Personal Credit?
How you use your business credit card can impact your personal credit. Some business credit cards report payment history to consumer credit bureaus, which means any late payments you make could hurt your personal credit score. But if you use your card responsibly and always pay your bills on time, a business credit card could…
What Does 0% APR Mean, and How Does It Work?
0% APR allows you to charge purchases and make balance transfers on a new credit card with no interest for a specific time period. Once this introductory period ends, any unpaid balances will assess the regular annual percentage rate (APR). The best 0% APR credit cards offer no-interest financing for up to 18 months. How…
What Is a Foreign Transaction Fee & How Does It Work?
A foreign transaction fee, also known as an FX fee, is charged by credit card issuers when you use your credit card internationally, or when you make a purchase in foreign currencies. You may also incur a fee when your transaction is routed through a non-US bank. Fees are a percentage of the amount of…
What Is a Credit Limit?
A credit limit is the maximum amount you can charge on your credit card, which is predetermined by your card issuer. The larger your limit, the more you can spend on your credit card. Credit card issuers use several factors to determine your credit limit, including your income, credit score, and other financial considerations. To…