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Business Credit Cards: Everything You Need to Know Before Getting One

Is your business doing well? If so, you’ve probably begun to outgrow your personal accounts. You don’t want to sort through hundreds of personal transactions to track spending.

If your business is growing, you’ll also want to consider a credit card for a few perks. Business credit cards offer higher credit limits. You can access your credit right away, and may even get a few kickbacks from the credit card company.

Wondering what the perks are, and what to be aware of? Read on to find out what you need to know. 

Who Can Get a Business Credit Card?

Any type of business can apply for a business credit card. You can be a sole proprietorship.

Small and large businesses also qualify. You can even arrange to get multiple cards for your employees too.

What to Consider Before Applying

A business credit card allows you to keep clear financial statements. Your accounts won’t be muddled together.

Instead, you’ll have a better hold of your business finance. With a business credit card, you have a higher line of credit than a personal card.

Credit Score

Keep in mind that when you get a business credit card, it impacts your credit. Your existing credit score also impacts how easy it will be to get a business card. Business credit scores are separate from your personal credit score.

They’re monitored by different organizations. They are publicly available but are not linked to your social security number. A credit card is a great way to build up a good business credit score. 


Look for card perks when you choose a card company. For example, some credit card companies will offer you cashback or points. You can choose a card tailored to your business activities.

If you fly a lot, look for mileage points programs. If you will be on the road you’ll want gas and food cashback deals. 

0% APR

Many credit card companies will offer 0% APR on your credit card. Often, they’ll offer this for up to a year which is longer than personal cards. This means you have a loan of sorts from the credit card company.

But make sure you pay it back before interest starts accruing. If you really need a loan, it’s better to look into taking out a business loan. For example, yourfundingtree.com has a great breakdown of loan types.

Annual Fees

Some credit cards charge an annual fee to use them. These cards often have more lucrative rewards. Be sure to calculate if you’re using the card enough to make it worth the annual fee, however. 

International Business

If you plan to travel internationally for work, check the foreign transaction fees. You’ll want a card that waives transaction fees. And you’ll want to know you can use a foreign ATM without accruing huge fees. 

Benefits of Business Credit Cards

With your business credit card, you can build your business. You’ll improve your credit score. And you’ll have access to a larger credit line.

Plus you’ll be able to earn cashback incentives each time you use your card. Business credit cards are an invaluable tool to take your business to the next level

Before you go, be sure to check out helpful small business advice in our other articles on the site!  

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