Credit cards get a polarized reaction from many small business owners. They either view credit cards as a great opportunity or a trap. It’s true that there are certain pitfalls.
But as Forbes Magazine explains, there are benefits to financing a business with a credit card if you pay careful attention and invest wisely. No matter if you are a manufacturing company or a merchandising business, you might be surprised at what a credit card can do for you when you use it right.
Credit cards offer more than just a way to earn money through financing or rewards. They also provide a quick way to track employee spending, which will ultimately save time and money that you would have spent on an accountant’s services.
Luckily, there are websites designed to help you choose the best fit for your business, offering expert advice as well as credit card reviews from real people. By carefully reviewing credit cards and your business’s needs, you’ll avoid many of the issues that lead to an adverse experience with credit cards.
Below is a list of the top-rated cards and the review categories in which they excel.
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U.S. Bank Cash+™ Visa Signature® Card
If you are looking for a card that offers immediate and versatile rewards, this is the one. It is ranked number one for the initial sign up bonus, cash back, and gas rebates. As suggested by the New York Times, rewards you can use every day are more beneficial if you aren’t in the habit of traveling frequently. Utilizing a card that puts its rewards directly back into the daily operation of your business will increase revenue.
U.S. Bank Visa® Platinum Card
U.S. Bank’s Visa Platinum is also ranked high; it was number one in low interest. Reviewers suggest that this card is a great way to save money on bank transfers or purchases, as there is 0% interest for 15 months. The interest rate is an important factor in determining whether the card is suitable for you and your business. If you’re making many transfers or purchases, a card with low interest would be beneficial.
Barclaycard Ring™ Mastercard®
This card boasts 0% APR (annual percentage rate) and 0% on balance transfers. CNN reports that 85% of American adults confess to financial anxiety and this is largely a result of debt. One way to reduce the impact of debt is to transfer your business to a 0% interest credit card, which frees up money that you previously spent on fees. Additionally, this card is also reviewed highly for its points reward program.
Barclaycard Arrival Plus™ World Elite MasterCard®
Another addition to the Barclaycard’s highly reviewed credit card options is the World Elite MasterCard. This one is rated as number one in travel rewards. If you are one of the contributors to the estimated 1.3 billion business trips that are taken per day in the U.S., then this type of card will best suit your needs.
Whatever your choice, make it wisely and feel confident in it. If you choose it carefully, your business credit card will save you money. It will help you get ahead of the game with your small business.