NEWS & EVENTS

When you’re managing a new business, maximizing your finances is vital for success, which is why it is important to be aware of some of the best business credit cards for startups. Opening a business credit card makes sense for startups since it can help simplify the finances of your new enterprise. Plus, lots of the rewards on these cards are geared toward business expenses and can help you earn points and miles you can redeem for business-related travel and rewards. My go-to small business credit card is The Blue Business® Plus Credit Card from American Express. I primarily use my points for travel, so transferring to airline and hotel partners is where I can get the most value for my rewards. ANZ’s business low rate credit Streamline Your Finances with Expert Accounting Services For Startups card offers startups affordability with low interest rates.

Do I need to be a business owner to get a business card?

The Business Platinum Card® from American Express has a lot going for it (some benefits may require enrollment). Ultimately, you’ll have to decide if these rewards and travel benefits outweigh the card’s $895 annual fee. With no annual fees, the Capital One Spark 1.5% Cash Select card is highly competitive. We expect low fees and APR with a credit range of good to excellent, but other cards on this list still have much higher annual fees with the same credit requirement, making Capital One stand out in this regard. Unfortunately, this card has an annual fee $395, making it much less competitive than some others on this list.

• They offer unlimited rewards points at a rate of up to seven times on rideshare spending, four times on flights and hotels, and three times on restaurants for example.
• Knowing these elements enables you to select business categories that offer the most value for your business.
• You get instant virtual cards, real-time expense tracking, and accounting integrations with Xero.
• And if saving money is your goal, Ramp’s lack of fees is a great benefit for businesses as well.
• By paying your balance on time and keeping your credit utilization low, you can improve your business credit score.

Gaining fraud protection and purchase coverage

• Identity theft protection is another critical service offered by many business credit cards.
• One of the most attractive features of business credit cards for startups is the rewards program.
• I’m also breaking into the wholesale world with selling my goods to gift shops, coffee shops, and more, so I am involved a lot of avenues for growth and expansion.
• Plus, some cards may offer business card benefits that may be specific to business needs — like offering employee cards for free.

These features include real-time purchase tracking, automated expense categorization, detailed reporting, and integration with popular accounting and financial software. These capabilities help you work faster, avoid costly mistakes, and make informed financial decisions as your business scales. 0 APR business credit cards are great for startups and new businesses. They offer a special deal with no interest for 6 to 12 months on new purchases or balance transfers. This lets businesses pay for big expenses or manage their cash flow without paying interest.

Best for Spend management software

• The card’s high credit limits and detailed reporting tools enhance financial flexibility and simplify expense management for your growing startup.
• One of the best and smartest moves you can make when starting a new venture is to keep your personal and business expenses separate.
• Unlike credit cards, you will need to clear the full balance on a business charge card each month.
• The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
• However, as we’ve already mentioned, they do put personal liability onto the founder in many cases, so that is a possible deal breaker in our opinion.
• While a secured card may not be ideal for every business, it’s a great option if you have bad credit and don’t qualify for anything else or are looking to build your credit score.

While this card’s benefits are limited, it is one of the few no-annual-fee cards that allows transfers to airline and hotel partners. With its flexible rewards, businesses can also redeem them in many ways, including cash back, travel or covering previous travel purchases. Ensure rewards match your startup’s spending patterns, like marketing or office supplies, for maximum value. You get no annual fee, employee card options, and basic expense tracking. Westpac offers up to 55 days interest-free, accounting integrations, and fraud protection for secure startup transactions. You access low interest rates, up to 55 days interest-free, and employee card options.

That said, the Stripe card does earn a respectable 2% back on combined purchases in two categories and 1% on all other spending. However, Stripe only reports to the SBFE, so it’s not the best for building business credit. The BILL Divvy card is best for small to mid-sized organizations with established https://dimensionzen.com/streamline-your-finances-with-expert-accounting-services-for-startups/ personal and business credit scores. Companies looking for basic card functionality at no cost may also benefit from the BILL Divvy card, but those looking for more advanced features will need to pay a monthly subscription fee.