And as mentioned, mixing business and personal purchases on the same credit card could endanger your limited liability protection, putting your personal assets at risk in case of a lawsuit against your corporation or LLC. Another perk? Just as most of us have a personal FICO score, established businesses generally have one or more business credit scores that lenders use. Enjoy life to the fullest with a ComBank Credit Card Benefits of Commercial Bank Credit Cards. This could include: If you have a retail business in a coastal tourist area, you're bound to experience stronger cash flow in the summer. There's no annual fee, but an Amazon Prime membership is required. Ink Business Preferred® Credit CardWhy this is one of the best business credit cards: This card features not only an impressive introductory bonus for eligible new users but also competitive travel rewards. Some cards will issue a statement credit offsetting the annual fee or waive the fee if you use the card enough over the course of the year. Learn More. Rewards and discounts cater to business owners, such as discounts on FedEx shipping or office supplies. For example, the American Express Blue Business Cash Card earns 2% cash back on all eligible purchases for the first $50,000 spent annually (then 1%). Just remember, the amount you can spend above your credit limit is not unlimited. Business credit cards are designed to suit the financial needs of different types of companies, ranging from small startups to major corporations. This is the single most important factor in most commercially marketed credit-scoring systems that lenders use. Whether you need a business credit card for everyday expenses or travel and entertainment, a City National Visa Commercial Card makes it easier for you to manage your business needs. Spend $10,000 a year with your card and get a $100 Delta credit, plus free checked bags and priority boarding on every Delta flight. Regardless of your personal credit history, you can take steps to make yourself more attractive to business credit card issuers when you are ready to apply: Know your issuer's credit-reporting policies. APR: A business credit card with a low APR is possible. There are lots of different business types these days, and they don't always resemble a traditional view of a business. New cardholders will receive 60,000 bonus miles after spending $3,000 within the first three months. These types of cards tend to offer deeper discounts and better perks as a reward for staying loyal to that business. Many get confused about the difference between small-business credit cards and corporate credit cards. For example, Capital One reports all business credit card activity to consumer credit bureaus, but Chase only reports to consumer credit bureaus if your account is more than 60 days delinquent. If you're still trying to decide if getting a business card is necessary, look at the types of management tools that come with some of these cards. Business credit cards differ from consumer credit cards in these important ways: Many small-business owners use personal credit cards to finance their businesses. All in one place. Either $5 or 3% of the amount of each cash advance, whichever is greater. With rewards that don’t expire, you choose when to redeem. Best feature: Premium cardholder benefits. Many programs reward users with points or miles. While this may seem like a beneficial option from a rewards and convenience perspective, having a commercial credit card … Business credit cards are not required to offer the same consumer protections as personal cards under the Credit CARD Act of 2009, which can lead to unexpected fees and interest … Use your User ID and Password to sign in on desktop or mobile devices. Telecommunications, including mobile devices, cable and satellite, internet, landline phones and VoIP. If you are sued or go through bankruptcy, and your business records show that you have routinely mingled your personal and business accounts or used business assets for your personal benefit, you could endanger your limited liability protection. Even if you're a sole proprietor, a small-business card might be a good option if you have a lot of business expenses. Plus, earn an additional Free Night Award after you spend $60K in purchases on your Card in a calendar year. Cat Consumer Card … Just as you should work to maintain and protect your personal credit score and ensure that the information in your credit report is accurate, you should do the same with your business credit score. Terms apply. Charge cards have less overall impact on your business or personal credit score because the usage is not counted as part of your overall utilization ratio. The information for the Amazon Business Prime American Express Card has been collected independently by U.S. News and the card is not currently available on the site. (Terms apply.). Carrying a balance effectively wipes out your rewards. Skip to main content. You may qualify for a secured business credit card, which could offer limited access to credit. In some cases, the APR is listed as a range, which gives the issuer the flexibility to assign a higher APR to applicants who appear to be risky. If you have good personal and business credit and otherwise meet the issuer's criteria, you can get a business credit card issued in any industry. But like with most things, business credit cards have both pros and cons. 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% - 19.24%, based on your creditworthiness and other factors as determined at the time of account opening. Late fees can be up to 3% of balance, or $40 + penalty rate as high as 29.99%.