Don’t already own a business credit card? Now is the time to think about getting one—and all the perks that come with it!
Using a business credit card for Startups and SMEs is ideal for financing a wide range of business purchases and expenses. These cards offer a level of flexibility that isn’t available with other forms of business credit. It also helps businesses to free up their working capital by paying their business bills using a line of credit.
What is a Business Credit Card?
Business Credit Cards enable entrepreneurs in building a credit profile in order to improve borrowing terms in the future. Employees and Business owners can use these credit cards to pay for almost all business-related expenses consistently. Rewards programs, additional card users, and expense reporting systems are usually perks offered with the business credit cards. In addition, unlike a personal credit card, a business card holds the business liable for the debt, not the individual. If you’re a startup/SME, availing a business credit card is very crucial which will keep you away from more complicated working capital loans.
While we say having a business credit card is a brilliant start to bettering your company’s financial management, there’s a lot to think about. All businesses want their procedures to be adaptable, secure, and simple. There are tons of options for that piece of plastic like prepaid cards, standard bank business cards, commercial cards and the list goes on!
This might sound overwhelming! Here are few things you should consider before choosing a business credit card:
Associated Costs:
Money is always a key consideration in any business decision!
According to a survey, 83% of the responding businesses regarded cost as critical or extremely important while making a card purchase decision. Upfront expenses, such as a subscription fee or an annual fee, do not vary significantly between card issuers. But what if we told you that you might spend 17% of your spends on your card’s associated costs every month? The processing fees or hidden associated costs are what you should be concerned about.
Are there any special promotional rates, late fees, annual costs, balance transfer fees, or other expenses?
Before signing up for any card, make sure you read the terms. With founderscard, we have one of the lowest annual costs and no hidden charges.
Payment Options:
The finest business/SME credit cards will allow you to pay in many ways. We’ve gone from physical cards to virtual cards as a result of the pandemic and digitization.
A virtual card functions similarly to a physical card, except it can only be accessed and used for online purchases. It’s ideal for someone who doesn’t take many business trips but has to, for example, renew HubSpot membership.
Rewards and Benefits:
It’s critical to consider which cards offer incentives and benefits that your organization can use. When your employees don’t travel frequently, it’s pointless to accumulate thousands of airline miles through credit card purchases. While most popular cards offer excellent travel rewards, there are other useful advantages available.
founderscard provides savings on services and subscriptions that firms find valuable in their everyday work, partner offers with brands such as DHL, WeWork, Hubspot, AWS and many more!
founderscard is one of the best business credit cards in the market! If you’re still unsure about the benefits, give it a shot and enjoy the most convenient and safe banking experience possible. It makes your company more stable and efficient, and it sets you up for a successful future. So, Register Now and start your journey with founderscard.
