How to Pick the Best Credit Card for Your Small Business

If you’re a small business owner, chances are that you’ve realized the necessity of having a credit card associated with your business. There are, time from time, expenses that will cost more than you have in the bank. Furthermore, many small business credit cards can offer you rewards and cash back offers that can actually help you to save money in the long run. Follow these tips to find the absolute best credit card for your specific small business:

Step 1:

• First, take a look at what your business spends money on. Do you spend more on gasoline than you do on plane tickets? Or do you tend to spend quite a bit on office supplies and things along those lines? Knowing what you spend the most money on will go a long way to helping you pick the best credit card with the best rewards. For example, if you spend more on gas, then you would want to go with a card that offers 3% cash back for gas purchases versus one that offers 3% cash back on airline ticket purchases and only 1% cash back on gas purchases.

Step 2:

• Take a good look at your own, personal spending habits. Are you the type of person who pays off your credit card bill in full each month, or do you pay off just a portion every billing period? If you tend to be the latter, then pay particular attention to your credit card’s annual percentage rate (APR). You’ll much rather want to go with a card that has a low APR than one that carries a higher rate.

Step 3:

• Some credit cards charge cardholders annual fees. This may sound silly at first, but if that particular credit card offers outstanding benefits or rewards, then the annual fee could be worth it.

Step 4:

Keeping all of this in mind, check out an online credit card comparison website to help you sort through all the different credit card offers. This way, you can have a better idea of which card is best for your small business.