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What to Look for in Small Business Credit Cards

Written by abbyavatar

Small businesses play a big role in the economy and are started by people from all different walks of life. Regardless of who starts a small business, they need access to funds to help with cash flow. Using small business credit cards can help the business owner tremendously, so long as the right type of card is chosen. If you are a small business owner, here are some things that you should look for in a credit card.

Low Rates

Many businesses have to leave balances on their credit cards from one month to the next. This is because business cash flow can vary significantly from month to month. If cash flow is low one month, then the business may have to wait a month to pay off the credit card bill. Because of this, it is important to find a card that has a low, ongoing interest rate. The interest rate is the percentage that the credit card company multiplies the outstanding balance by in order to
determine how much interest is charged.

Rewards

If you plan on making a lot of purchases with your business credit card, finding a card with a good rewards program is essential. You can earn rewards points for each dollar that you spend on your credit card. Once these rewards points are accumulated, you can use them to buy supplies for your business or to help pay for business travel.

Concierge

Some small business credit cards give you access to a concierge service for free. With a free concierge from your credit card company, you can get all of your plans scheduled for business travel without having to do any work. Your concierge can handle many different things for you like setting reservations or booking a flight for you. This is an extra perk that comes with having a good business credit card.