In recent times, banks and financial lenders have been expanding their product range when it comes to credit cards for businesses. In today’s financial and economic climate, taking out a credit card is often a far easier and more convenient option for start-ups, when compared to going through the process of applying for a traditional business loan. In addition, a credit card account is a good way to begin establishing a credit history using the business name.

However, if you are looking for a business credit card, then you’ll probably be aware that there are dozens of potential options to choose from. Choosing the right one for your company could easily feel like looking for a needle in a haystack if you are not completely prepared. We’ve put together some top tips to help you choose the perfect credit card for your business.

Tip #1. Consider Your Business Spending Habits:

Before you apply for a business credit card, it’s important to evaluate your company’s spending habits and determine how you plan to use the card on a regular basis. For example, will it be used to cover emergency expenses only, or do you expect to be making regular purchases on it each week or month? You should also consider your plans for repayments – will you only be able to afford the minimum repayment, or are you expecting to be able to clear the balance each month?

Understanding this will give you a much better idea when it comes to the type of credit card that you choose. In general, opting for a card with lower interest rates is a much better choice if you expect to use it a lot but only pay off the minimum amount required on a monthly basis. However, bear in mind that most low interest business credit cards will require a perfect, or at least an almost faultless credit score. For more information on how to improve your credit score to get a better business credit card, visit

Tip #2. Consider the Rewards and Benefits:

With so many different credit cards on the market for businesses today, lenders are always competing in terms of the rewards, benefits and perks that they provide to their borrowers. For example, you might be able to find a credit card that offers you the chance to collect air miles on each purchase; this would be an ideal choice if you are often traveling overseas for business, for example. On the other hand, if you are currently in the early stages of setting up your business and would benefit from discounts on business purchases, picking a credit card that allows for exclusive discounts at relevant stores will be a good option.

You might also want to think about the type of credit that you plan to apply for in the future, too – if you’re considering taking out a business loan or expect to borrow another line of credit at some point, opt for a lender who offers special deals and discounts to their existing customers.

Tip #3. Low or No-Interest Periods:

As a business owner, it pays to be constantly on top of the amount of money that your business is spending, whilst doing whatever possible to keep costs down to a minimum. When you take out a business credit card, it’s not only the amount that you spend on it that will need to be repaid; you’ll also need to consider the interest rate and how that will add to your total business expenses. Some credit card providers will offer no- or lower-interest free initial periods, this could be anything from a couple of months to a few years from taking out the card! The longer your interest-free period, the less you will spend overall when it comes to managing your business finances, helping you to keep costs to a minimum for this period of time.

Tip #4. Help and Support:

Another main factor that you must take into consideration when applying for a business credit card is the type of customer support offered by the lender. For example, if you take regular overseas business trips, will it be easy for you to get in contact with your credit card company if you find yourself unable to make purchases with it in another country?

When you run a business, the last thing that you need is to have your time wasted by long telephone queues or hard-to-reach customer service teams; you’ll want to know that you can contact somebody straight away who can help assist you with rectifying any issues that you have with your card.

Tip #5. Consider Annual Fees:

Not all business credit cards will charge an annual fee. However, if you are hoping to get the best benefits and reward packages, then there’s a higher likelihood that you will be charged more. When choosing a credit card for your business, you should always read the small print, as you don’t want to be caught out in the future by monthly or annual fees for simply using the card. However, in many cases, the fees charged by certain business credit card companies can be well worth the investment. Carefully weigh up the pros and cons of any cards that you consider, to make sure that you’re getting the best deal.

Tip #6. Shop Around:

Lastly, once you have determined your business spending habits and decided on how exactly you plan to use the card and make repayments, it’s a good idea to shop around before coming to any solid decisions. Using a comparison site is a great way to find suitable credit cards for your business needs, since you can enter all or some of your requirements and let the site do all the hard work when it comes to finding the best fit. Along with that, having knowledge of better credit card deals that are available can go in your favor if you’re hoping to negotiate a better deal with your regular bank.

Have you found the perfect business credit card? We’d love to hear from you in the comments.