The best business credit card for new startups is typically the Chase Ink Business Preferred credit card since it offers generous 80,000 bonus points after spending $5,500 within the first three months. There’s also 3 points per dollar spent on common business expenses and travel. This is an excellent card, if you are just starting out and still trying to find your footing. But the benefits don’t stop there.
If you are a startup, you have a short startup business history and therefore a bad credit history. This can be attributed to a number of reasons including the fact that most startup businesses are not able to generate enough revenue in their first few months to pay for their operations costs. To remedy this problem, lenders provide startup business with business loans which cover operational expenses until the business begins to generate profits. With good business credit cards, startup businesses can use these loans as equity. The best business credit cards allow you to build your credit score gradually by consistently paying your bills on time. The better the terms, the better your credit history will be.
As mentioned earlier, startup businesses typically lack collateral and thus have fewer options when it comes to raising funds. For this reason, they typically require no personal loans. However, if you have a good credit score, you can obtain small business loans. Some of these startup business loans come with a low interest rate and term periods of one year to five years. However, before getting approval for startup business loans, business owners should submit their business plan and financial documents. To get the best credit card terms, business owners should make sure that they can pay back the loan.
To get approved for a business credit card, business owners should maintain a good-to-mediocre credit history. A poor credit history indicates that you haven’t managed your financial affairs well. This is why most banks and other financial institutions don’t approve business startup loans. To have a good history, you need to ensure that your business receives enough funding to sustain the operation and growth. A good business credit card history shows that your business has been able to repay your debts on time.
Business owners who wish to be approved for startup business credit cards can increase their chances of approval by applying for an introductory offer. There are a variety of offers available from business card issuers. These introductory offers are usually short-term in nature and provide business owners an opportunity to enjoy the benefits of having a business card without incurring the long-term debt that business cardholders with existing credit cards incur. Most introductory offers would have a higher annual fee and a lower credit limit. Business owners would have to find ways to earn more than what they spend in order to pay off the annual fees and obtain sufficient credit to meet their monthly obligations.
To apply for the discounted rates and benefits, business owners should make their yearly payments on time so that the balance of their account will not be negatively affected. The promotional rates and benefits offered by Hilton Honors American Express Business Card, please visit this page to learn more about it. Hilton Honors Business Card, please visit this page to learn more about it. If you would like to know more about the rewards offered, benefits and terms and conditions, please visit the links below. If you would like to find out more about the Annual Fee, Penalties and Expiry Date, please visit this page.
Business owners can use their Hilton Honors American Express cards to make travel arrangements for themselves and their employees. This is ideal for executives who have to travel frequently. Business travelers will also find that this credit card is beneficial for those who would like to purchase plane tickets at a discounted rate. With the reduced cost of fuel these days, business travelers will find that purchasing a plane ticket at a discounted rate using this excellent credit card will save them a lot of money. In addition to saving money, those who use Hilton Honors American Express will also find that they will get excellent credit terms and lower interest rates.
The special travel perks and benefits offered by Hilton Honors American Express, please visit this page to find out more about it. If you are traveling to various countries in the world, you should consider using this excellent credit card to help you make the most of your travel experiences. The special business platinum card is also beneficial if you are looking to start or expand a business in an exotic location. You will enjoy the benefits of reduced fees, added benefits, instant approvals and additional savings on everyday purchases. If you are not satisfied with any of the travel perks that are offered with this card, please visit this page to learn more about it.