Looking for a way to better manage your business\u2019 finances?<\/p>\n\n
Consider a small business credit card, one of the most powerful tools for entrepreneurs and small business owners.<\/p>\n\n
With high credit limits, 0% introductory APR, and amazing rewards, a small business credit card is built to help you achieve your most ambitious goals.\u00a0<\/p>\n\n
Ready to learn more?\u00a0<\/strong><\/p>\n\n Here\u2019s everything you need to know about small business credit cards:\u00a0<\/p>\n\n Small business credit cards are similar to personal credit cards\u2014with one major exception.They are considerably more powerful.\u00a0<\/em><\/p>\n\n For example, while the average consumer credit limit is roughly $22,000<\/a>, the average small business owner accesses over $56,000 in credit<\/a>.\u00a0<\/p>\n\n That\u2019s a big difference<\/strong>, especially for entrepreneurs looking to launch (or grow) a business.<\/p>\n\n For example, Amaia wants to refurnish her local restaurant. In addition to updating the fixtures and furniture, she also wants to upgrade a few of her major appliances.\u00a0<\/p>\n\n All in, the renovations will cost $13,000.\u00a0<\/p>\n\n While that\u2019s too expensive for her personal accounts, it\u2019s well within the range of her <\/strong>business credit limit<\/strong>.<\/strong><\/p>\n\n As we\u2019ve discussed, Amaia can upgrade her restaurant with a swipe of her business credit card.\u00a0<\/p>\n\n But that\u2019s only the first of many benefits she\u2019ll enjoy.<\/p>\n\n For example, her small business credit card offers 0% introductory APR (or Annual Percentage Rate<\/a>, the yearly interest rate if you carry a revolving balance).\u00a0<\/p>\n\n That means Amaia can borrow money without incurring interest for several months after opening her account. This could save her hundreds (if not thousands) of dollars, so long as she consistently makes on-time payments.<\/p>\n\n Then, there are the perks\u2014a<\/strong> lot of perks.\u00a0<\/strong><\/p>\n\n In addition to 0% intro APR, Amaia will be able to earn amazing rewards on her business purchases, like travel miles, gift cards, and cashback. She can then use those rewards to pay for flights, to book hotels, or to simply reinvest the money back into her company.<\/p>\n\n On top of the financial perks, small business credit cards make bookkeeping easier than ever.\u00a0<\/p>\n\n How? By automatically separating your personal and business expenses.\u00a0<\/p>\n\n In some cases, your small business credit card will even provide an itemized PDF report at the end of each calendar year\u2014just in time for tax season.<\/p>\n\n This could save you countless hours of labor and help you stay focused on what matters most: serving your customers and growing your business.\u00a0\u00a0<\/p>\n\n As an entrepreneur, \u201cbusiness credit\u201d is essential for the longevity of your company.\u00a0<\/p>\n\n It empowers you to do things like launch new products, purchase machinery, manage payroll, invest in marketing, and streamline operations.\u00a0<\/p>\n\n And yet, business credit<\/strong> is more than a financial tool.\u00a0<\/strong><\/p>\n\n It\u2019s how lenders determine your company\u2019s ability to repay financial obligations, as reflected by your business credit score.\u00a0<\/p>\n\n Generally speaking, high credit scores increase access to better loan products (with more attractive rates)\u2014while lower scores restrict your options (and raise your rates).<\/p>\n\n While business credit is a complex topic, these three principles will help guide your journey:<\/strong><\/p>\n\n If you can consistently follow these tenets, your business credit will steadily improve.\u00a0<\/p>\n\n P.S. <\/strong>To learn more about business credit, click here for our comprehensive guide.\u00a0<\/p>\n\n Which small business credit card is right for you? It depends on what you need.<\/p>\n\n Start by asking the right questions:<\/p>\n\n Take your time, and carefully research all available options.<\/p>\n\n Remember: no \u201cperfect\u201d card exists\u2014only the card that\u2019s right for you and your business.<\/p>\n\n While it\u2019s important to enjoy great rewards, it\u2019s most important that you make sure you choose a card that\u2019s tailored to your long-term financial goals.<\/p>\n\n P.S. <\/strong>Click here<\/a> to view the best available small business credit cards, according to Forbes.\u00a0<\/p>\n\n The financial world can be overwhelming\u2014especially when it comes to entrepreneurship.<\/p>\n\n Before we get into the application process, let\u2019s answer a few common questions about business credit cards:<\/p>\n\n Anyone who operates a business can obtain a business credit card.\u00a0<\/p>\n\n That\u2019s true whether you are a sole proprietor, a partnership, a corporation, or an LLC.\u00a0<\/p>\n\n Absolutely! Freelancers\u2014or independent contractors\u2014are considered a self-employed business owner.<\/p>\n\n As such, they\u2019re entitled to apply for a business credit card.<\/p>\n\n Freelancers can be anyone from a real estate agent to a journalist, a web developer, a ride-share driver, or even a dog-walker.\u00a0<\/p>\n\n Not at all! Business credit cards are available to companies of all sizes.\u00a0\u00a0<\/p>\n\n Yes! You don\u2019t need to have any employees to qualify for a business credit card.<\/p>\n\n However, if you do <\/em>have employees, you will be able to give them corporate cards under your account (and set credit limits).\u00a0<\/p>\n\n No, your personal and business credit profiles are totally distinct.\u00a0<\/p>\n\n For example, they each have unique credit scores, credit reports, and credit bureaus.\u00a0<\/p>\n\n However, there are some cases where your personal credit could affect your access to business credit products.<\/p>\n\n For example, if you\u2019re a sole proprietor applying for a small business credit card, it\u2019s quite possible that lenders will review your personal credit to see how well you manage debt.<\/p>\n\n That\u2019s why it\u2019s so important to carefully manage your personal finances.<\/p>\n\n While it takes time to find the right credit card for your business, the application process is quite simple.<\/p>\n\n Though each lender will have their own requirements, here is a general list of what you\u2019ll need to apply for a business credit card: Some of your personal financial information may also be requested in the application process.<\/p>\n\n As we discussed above, some lenders will want to review your personal credit\u2014especially if you\u2019re a sole proprietor.<\/p>\n\n To that end, be prepared to provide information including:<\/p>\n\n As always, if you have any questions about your finances\u2014or the particular products you\u2019re applying for\u2014be sure to contact a financial professional.\u00a0<\/p>\n\n For a little piece of plastic, a small business credit card offers some serious<\/em> advantages.\u00a0<\/p>\n\n As we\u2019ve seen, you\u2019ll get fast access to capital, a high credit limit, and amazing rewards along the way.\u00a0<\/p>\n\n Just remember: if you can consistently pay your bills and keep your credit utilization below 30%, you\u2019ll be able to strengthen your company (and your business credit profile).<\/p>\n\n At uLink, we\u2019re dedicated to your continued success\u2014both in the U.S. and abroad.\u00a0<\/strong><\/p>\n\n At uLink, we strive to empower immigrant owned businesses. This mission is the driving force behind our innovative B2B solution\u2014uLinkbusiness.<\/p>\n\n As your dependable and rapid answer for all things business payments, uLinkbusiness features a reliable platform and competitive exchange rates for international transfers for businesses based in the U.S.<\/p>\n\n uLinkbusiness\u2014linking your business to the world.<\/p>\n\nSmall Business Credit Card<\/strong> Defined\u00a0<\/strong><\/h2>\n\n
Benefits of a Small Business Card<\/strong><\/h3>\n\n
A Few Words on \u201c<\/strong>Business Credit<\/strong>\u201d<\/strong><\/h3>\n\n
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Choosing the Right <\/strong>Small Business Credit Card<\/strong><\/h3>\n\n
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Business Credit Card<\/strong>: FAQ<\/strong><\/h2>\n\n
1. Who can apply for a <\/strong>business credit card<\/strong>?<\/strong><\/h3>\n\n
2.\u00a0 I\u2019m a freelancer. Can I still apply?<\/strong><\/h3>\n\n
3.\u00a0 Are business credit cards exclusively for large companies?<\/strong><\/h3>\n\n
4.\u00a0 I don\u2019t have any employees. Can I still apply?<\/strong><\/h3>\n\n
5.\u00a0 Are my personal credit score and <\/strong>business credit score<\/strong> the same thing?<\/strong><\/h3>\n\n
How to Apply for a <\/strong>Small Business Credit Card<\/strong><\/h3>\n\n
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Moving Forward<\/strong><\/h2>\n\n