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Just like personal credit cards, corporations and LLC’s with good credit are no stranger to business credit card offers. Businesses do much more business for credit card companies than individuals do, and yet have very different incentives, so the competition for business credit cards is more competitive and less straightforward.
Business credit card offers follow similar pitches personal credit card offers: sales pitches are done through low interest rates, initial no interest periods, merchant benefits and cashback offers. The rates and natures of these benefits are highly comparable to personal credit cards, however the credit limits tend to be higher.
The best business credit card offers for new entrepreneurs tend to be the ones with the real credit card substance: low APR, and cashback rewards. Because new business credit cards are best used for credit building, these types of cards allow entrepreneurs to buy things on credit with high reward and little investment. New entrepreneurs must also be very careful to understand the fine print of the credit card terms, and be sure that they don’t walk into sudden interest rate changes or hidden fees. Platinum rewards cards carry a number of benefits that are catered to more established businesses, including rental insurance coverage, benefits from luxury merchants, high credit limits, and of course the unspoken benefit of social status.
Unfortunately quality business credit card offers tend to be scarce to new business owners. Of the 500 business credit cards available, only about 60 are willing to extend credit to newly formed businesses without consideration of personal credit. This, however, may be an advantage to the entrepreneur with good credit, as he can use that as leverage to influence the credit of his business as well.