Startups can access credit cards with no credit history. This represents a great advantage for developing a feasible business proposal, even if the initial budget is quite low.
Today we’ll tell you which credit cards are right for your small business. But we will also talk about the benefits of having this important tool to carry out any transaction.
These are the best credit cards for new businesses
If your business is starting and you need an urgent injection of capital to get off the ground, you can opt for these credit cards.
1. Chase Ink Business Preferred
Without a doubt, this is one of the best options when starting a project. Chase Ink Business Preferred is one of the most special credit cards to use in business, mainly for registering very high sign-up bonuses.
It is also useful as it guarantees points for executing business-type transactions, digital ads, shipping, and travel. An element of interest is its ability to avoid fees for payments or any other transaction.
2. Blue Business Plus
Blue Business Plus comes from American Express. It has been considered one of the most effective startup business credit cards. The reason? There are no annual fees to disrupt the entrepreneur’s finances, and its rewards rates are high.
Among the advantages of this product is the increased spending limit on the customer’s ability to purchase. But it is also possible to offer the client access to an ARP with 0% only in the first year.
3. Chase Ink Business Unlimited
If the intention is to grow rather than get as many bonus points as possible, Chase Ink Business Unlimited is the best alternative.
This credit card to start operations with your startup guarantees a series of advantages: Simple point systems, no entry fees, and guaranteed welcome bonuses.
4. American Express Blue Business Cash
We can add the American Express Blue Business Cash to the list of credit cards for startups with no credit history. It is indispensable for entrepreneurs who require simplified rewards and whose purchasing power is low.
One of the most representative advantages is that it does not require annualized fees. But it also guarantees an automatic exchange of rewards. For this reason, it has been one of the most valued by small entrepreneurs today.
5. Spark Cash Plus
What did you like most about Spark Cash Plus credit cards? In addition to being accessible to startups, it has no limits on how much you can pay.
But also, it does not include any fees for foreign transactions. The most interesting thing is that it contains rewards applied to each purchase.
How do you know that credit cards are being approved for small businesses with no credit history?
To avoid being deceived and ensure that a business credit card will be given to a startup company, it is necessary to comply with the following methodology.
1. Evaluation of spending characteristics
The company will determine which type of card is the most suitable for the kind of expenses. But it will also decide which is the best option to carry out commercial transactions. The qualities that will be analyzed are insurance policy, travel benefits, fraud prevention, and theft protection.
2. Rewards system
The use of credit cards ensures excellent bonuses. It usually takes the form of cashback rewards or points.
3. Credit scores
It is important to know that an important group of credit cards will be granted to those users with credit scores rated as good or excellent. Therefore, finance companies must evaluate who has lower and higher requirements before presenting a certain product.
Another of the qualities that must be evaluated is precisely the types of applications. But also which cards have the easiest requirements for the user.
Benefits of a commercial card
People who are just starting their own business require a business credit card. The intention is to separate personal and business transactions. But the use of this product generates a series of benefits, which we will tell you below.
1. Increase your credit history quickly
When the business develops successfully, accessing better resources is great. And if your company acquires more and better resources, the level of expansion will be greater and in the shortest possible time.
2. Allows access to new products
Before applying for a business credit card for entrepreneurs, it is important to consider the latest products offered by a particular finance company.
Some companies offer products aimed at establishing effective payment mechanisms. But also guarantees much more optimal control of expenses and an adequate cash flow.
3. Separate business and personal expenses
The cards are available for your business, separate business and personal expenses. In this way, it will be much easier to identify the source of the transactions and have better control of them.
4. State-of-the-art technology
This type of product is essential, especially for those who wish to make international payments. The technology available in the different commercial cards without credit history makes it possible to shorten distances and carry out processes quickly.
If you are thinking of setting up your own business, you must consider an important element: commercial or business credit cards are an excellent alternative for controlling transactions.
It is important to choose the financial institution that offers products adjusted to your needs to obtain the best benefits.