Are you interested in when it’s the right time to apply for a business credit card? To know when it is, as well as learn how you can get a unique bad credit merchant account, just follow the lines below.
Business Credit Cards & a Bad Credit Merchant Account
First of all, you shouldn’t think that business credit cards are just for corporations. It’s not true. If you’re a legal business, you can get a business card even if you don’t have any office or you’re running a business on your own.
Business credit cards come with rewards and a number of other advantages for businesses. You can find business cards that offer introductory 0% APR promotions, thus allowing you to save on interest. Business Credit Cards, Business Charge Cards, and Secured Business Credit Cards are the most common types businesses owners apply for.
What about reliable and low cost merchant services. Well, this can’t be intimidating if you work with a true payment expert in your field that can provide you with the right payment processing and business funding solutions. Reputable payment processors offer the most secure and cheapest services, including a bad credit merchant account that your business really deserves.
Is It Time to Get a Business Credit Card?
There’re certain cases when a business credit card can be a great way to get funding for your financial need. Well, it’s the right time, if you:
- Are looking for effortless access to working capital.
- Are still keeping your business expenses and personal expenses together. A business card can keep them separate: this is highly important.
- Have a good or excellent credit score, which FICO defines as a score of at least 670.
- Aren’t eligible for a business loan but you have a large expense or several regular ones.
- Want need the bonus rewards on certain categories offered by some rewards business credit cards.
- Want to improve or build credit by using the card responsibly, never being late on your monthly payments, as well as by keeping the balance low relative to the credit limit on the card.
- Have been rejected by a lender because your business is smaller than required. Usually, business cards don’t have such requirement.
- Want to use the perks offered by charge cards with no credit limits, or with 0% introductory APRs when just starting your business.
- Want to obtain cards for your employees and collect the points coming from their purchases.
- Need to stay away from high personal credit utilization associated with your business purchases: as a rule, business credit cards don’t appear on your personal credit reports if you’re using them with great responsibility.
- Want to avoid turning to shareholders to get extra capital, thus losing a share of your company.
- Want to better control your expenses.
- Want to manage your cash flow smoothly.
Obtaining a business credit card will get you extra rewards and perks. Only, take the time to do some research to see which one is the best fit for you and your company.
Author Bio: As the FAM account executive, Michael Hollis has funded millions by bad credit merchant account solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.