If you’ve thought about starting a business or already have, getting a business credit card with a bad credit history may be tough. As a business owner you may need to do credit checks on your customers as well so you understand a company’s reluctance to give you credit based on bad credit rating. This can deter anyone from even getting their own business going. It shouldn’t as there are ways around this dilemma.

As a business owner you need to have some sort of credit card to streamline your finances and it’s important to manage the business finances separate from your own. The terms on the card will be determined by your own credit history. Don’t be discouraged by the job that is in front of you, some of the most successful business owners were bankrupt and down on their luck at some time.

Bad credit isn’t a business death sentence; it is only a hurdle to overcome with a little patience. First, you will want to find a bad credit lender that offers secured or unsecured credit cards. Remember, when you apply for any card, check out the terms and interest rates or any special offers. You could try your own bank first but they will most likely want collateral or equity as security. Sure the interest may be low, but that’s if you even get approved.

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Capital One was founded by Richard Fairbank and Nigel Morris in 1988. Capital One Financial Corp’s primary focus is on consumer cards, home loans, auto loans, banking, and savings products. Capital One was one of the first charge card mass marketers starting in the early 1990s. The Capital One Platinum Preferred business card is an excellent choice for any consumer.

Capital One is one of the strongest credit card companies on the market today. This card provider has many features that customers can take advantage of. The most enticing feature that the Capital One Platinum Preferred business credit card has to offer is its introductory rate. New cardholders will be happy to take advantage of 0% APR on purchases and balance transfers until 2010. That gives new customers one year without having to pay interest. This credit card is an excellent choice when transferring a balance from one card to another. Transfer your balance from antoher card If you are paying a high interest rate. Someone with a $10,000 balance being charged 18% will save $1800 by transfering their balance to the Capital One Business Platinum Preferred credit card. If you are planning on making a large purchase you will have the opportunity to pay it off in a year.

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Whether your business is 10 years old, or maybe you just started it up, you’re going to want to get credit for your business, in order to get the funding that you may not have. Sure, if you have the cash on hand, you may not want to get the credit.

Today, I wanted to show you three reasons on why you should highly consider a business card for your small business.

Rewards – Many cards out there offer rewards, every time you swipe your card. You can get cash back on your purchases, get points, as well as bonuses. It’s a great way to get rewarded on the money that you have already spent.

Keeping track – I love my card, because I will literally put everything on the card. What you’re going to find out is that it’s a lot easier to keep track of spending all on one card, rather than using a few cards all the time. You’re going to find that tracking on one card is going to be a lot less stressful, trust me on this one!

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The economy is seeming to pick up just a little bit, but what many people are finding out when they are trying to open up a business is that there aren’t that many credit cards out there, that they can get approved for. I wanted to sit you down today, and show you what I think are the best business cards out there for the year 2010. I’m not going to name names in particular, but rather show you the banks you should look into.

Citi: Citi bank has a great selection of business cards. What you’re going to find out is that they have a huge selection of just about any bank that you can think of. From getting rewards on your phone bill, to office supplies, you can use your card, and save today.

Capital One: Capital One has a great selection of cards as well. What you’re going to find out is that you can get approved if you have great, or even good credit. Most of their cards have a great reward structure, and it’s a great way to save money, while using your credit.

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There are many advantages to business credit cards. They provide readily available cash supplies, monthly statements that serve as a means to monitor and analyze expenditure transactions and cut down on accounting procedures.

These cards are not just suitable for large-scale companies, they are appropriate for small and mid-sized businesses as well. Business credit cards are a fundamental tool for all types of ventures. There are companies that could not operate without business credit cards.

For a small business owner, a business credit card creates a professional sense of establishment and trustworthiness. This reassures company employees, vendors and owners.

Bonus Features

Business credit cards are offered by a myriad of financial institutions. Most of these lenders have competitive interest rates and terms to attract customers. A trend among lenders is to offer additional bonus rewards. These rewards, if chosen carefully, can benefit the astute business owner in operation of his or her company.

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Credit cards can be a good source of cash especially during emergency. There are several ways it can be used as a source of cash like below.

Counter cash advance

By presenting the credit card over the counter of a bank, you can draw cash up to the cash limit designated by the card issuer. Such transaction is called the counter cash advance transaction. In the process, the bank swipes your card on the Electronic Data Capture (EDC) terminal with would automatically dials up to seek an approval code from the bank for the transaction. The bank would also records your personal details from your identity card, make a copy of your identity card and obtain your signature on both the transaction and withdrawal slips. Upon approval of your transaction by the bank, the teller will dispense the cash to you. The whole process should takes less than 20 minutes depending on the bank procedures.

ATM cash advance

You can also perform cash advance with your credit card through a bank automatic teller machine (ATM). This transaction is much simpler than the earlier counter cash advance transaction.

To do this, insert your card into the card slot in the ATM, key in your pin number and key in the amount that you want to draw out. In the process, the ATM will automatically dial up to seek an approval code from the bank for the transaction. One the transaction is approved the ATM will dispense the cash equivalent to the amount that you keyed in earlier. The whole process usually takes less than 2 minutes.

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How can a Business Credit Card help in managing Small Businesses?

Remember, as a business owner, you should ensure that you maintain two separate finances i.e., separate financing for your business as well for your personal budget is absolutely essential. Hence, do not club these two finances lest you will be utterly confused in maintaining the accounts separately. The expenses incurred on your business are reflected, automatically, in your account when you use a business credit card. To build up a corporate credit, such credit cards are ineluctable. By registering your firm with the business credit bureau, your company’s reputation can be enhanced to a good extent.

Are business rewards credit cards worth the choice?

With wide range of business rewards credit cards available in the market, you can choose the one that suits your company’s needs. To those businessmen who purchase huge stocks in bulk, it is advisable to have a credit card with cash-back facility.

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Whether you are a corporate employee that runs up expenses or a small business owner, you need to get yourself a business credit card. A business credit card is an absolute must for many of your business needs, the only problem is that there are so many of them out there, how are you possibly meant to choose?

When you’re opening an account in a bank for your company, the chances are that the bank will try and sell you a business credit card to go along with it. Whilst this may look like a good deal, don’t accept straight away, there are many other lenders out there and the chances are that one of them has a more suitable card for you. You should compare features and benefits of different companies in order to see for yourself the range that is available to you, as well as trying to fins which one will offer you the best deal.

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Running your business can take you nearly every minute of every day, especially if you are a small business. Keeping things going can be awfully time consuming and it is likely that in order to keep your business profitable you have to work very hard at all levels of the business.

Due to the amount of work you as the owner have to put in, it’s likely that you have very little free time as it is without having to run backwards and forwards to the many different companies offering credit. You can’t just drop everything whilst you spend all this time looking for credit, so what can you do?

Well, if it is time that you are short on then your best option is to go online and see what you can find out. This way involves all the information coming to you, not the other way around, and can all be done whilst you are at your desk either doing other important things or on a break.

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As consumers are reducing their spending, businesses are trying just about everything they can think of to encourage spending in their stores or on their websites. One of the more effective methods of getting customers to check out what you’ve got to offer is to give away something too good to pass up. This is why many retailers have turned to prepaid credit cards as business promotions. Giving away a “credit card” offers a more professional appearance than giving out cash or offering rebates for purchases.

In addition offering prepaid credit cards as promotions to get people into their stores, businesses are using them as contest giveaways, rewards and incentives to employees for meeting certain sales criteria or exceeding job expectations, or as incentives to customers to listen to business presentations (think timeshares).

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