In the paragraphs below, we have listed helpful tips on how you can choose the right credit card program that can help your business thrive, despite economic uncertainties and the stiff competition in the market.
3 Tips for Business Owners
Get your business credit report, first. Keep in mind that your likelihood of being granted one of the best business credit cards in the market, will greatly depend on your business credit score. So, before you start shopping for a credit card program, you need to order first the latest copies of your credit report. This way, you will know what the credit rating of your enterprise is. At the same time, you will have the chance to check if there are errors or incorrect information that can ruin your chances of qualifying for an affordable line of credit.
Suppose you find out that there are outdated accounts or unauthorized charges in your business credit report. What should you do as a business owner? It is important that you immediately write and send a letter of dispute to the credit bureau that issued the document. In your letter, list all the items in question and what you expect the bureau to do about them. Then, wait for the credit reporting agency to conduct its investigation. If it discovers that your claim is valid then, you can look forward to receiving the results of its investigation as well as the corrected copy of your business credit report. By then, you could have a higher credit score that can help improve your chances of receiving an excellent credit card program.
Shop and compare the features of top credit cards. Take the time to shop and compare the current features of business credit cards offered in the market. One way to do this is to visit websites that offer credit card comparison services. This way, you can easily determine the features and benefits of each card program, and you can quickly narrow down your options.
We also encourage you to scout for card programs with the following features:
- The lowest possible rate of interest;
- A suitable credit limit;
- Fees and charges that range from $25 to $95, depending on the services offered by the card issuer;
- A beneficial rewards program for your business, i.e frequent flier miles, cash-back rewards, etc;
- Membership perks and incentives; and
- Expense tracking and other related services.
Read and examine the fine print of your card program. To make sure that the business credit card you wish to use will certainly work to your business advantage, you have to take the time to read and examine the fine print of your business credit card program. Understand the terms and conditions of the program, and make sure that you agree to the stipulations and limitations imposed on your line of credit. And if you have questions, don’t hesitate to ask for additional information or for clarifications from the customer service representative of your chosen card issuer.
About the Author
Matt Nguyen is an online entrepreneur and a regular contributor to buildingbusinesscreditblog.com and several other online business journals. He has written articles primarily on how to build credit for new businesses. That includes using business loans, leases, and credit cards to build a high business credit score. To read more of his articles please visit http://www.buildingbusinesscreditblog.com.