Learn 10 Reasons Why Small Businesses Should Get a Business Credit Card

9. Personal card limits do not apply to business cards.

Some banks restrict the number of cards you can open in a specific period. For example, with American Express, you can only have five credit cards active at any given time, whereas Chase permits you to open five cards within 24 months.

 

However, these restrictions only sometimes apply to business credit cards, allowing you to diversify your credit card portfolio This means you’ll have more credit card options, more significant welcome incentives, and a bigger overall credit limit.

10. Purchase Protection with a Higher Limit

A corporate credit card with a higher spending limit may allow you to make larger purchases while also providing higher limit buy Protection. While personal credit cards frequently offer this perk, business credit cards can cover larger purchases.

Making greater, company-related cost commitments can provide an additional piece of mind. In addition to more significant purchase protection limits, you’ll find cards with extended warranties, which protect your company financially if your products are faulty or malfunctioning.

Qualification and Application for a Business Credit Card

Our comprehensive guide discusses various ways for your firm to qualify and get authorized for a business credit card. Even if you have a tiny business (or are self-employed), it is still possible and usually does not require much (if any) paperwork to get approved.

 

Last Thoughts

Using a corporate credit card can provide various benefits, including the “clout” it might demonstrate when you use a card with your company’s name embossed instead of paying with cash or cheque.

The best business credit card for you will be determined by several criteria, including the size of your company, your priorities (cash-back, rewards, travel, etc.), and the amount of credit limit you require. Before you commit to a specific card, thoroughly examine its features, including the spending limit, purchase protection, online account access, incentives, annual fee, interest rate, sign-up bonuses, and any other benefits it may offer.