Business Credit Cards for Top Notch
Credit - Understanding The Options
If people have
Credit, how do they
know which Business Credit Cards
to pick when there are so many choices?
This article will expand on a couple varieties
of cards to offer a useful understanding
of the pros of each:
Cash Back - With a Cash Back
card, you may be offered a repayment that is the same as
a fraction of their purchases. For example,
if an applicant is approved for a Cash Back
solution that provides five percent cashback
on supermarket, gas, and pharmacy
items, as the cash back rewards add up they earn cash value. If you
spend $150 in gas, food,
and drug store purchases every 5-7 days, at
the close of a year, about four hundred dollars
in cash would be available.
Rewards Points - Instead
of providing cash rebates, some lenders
offer redeemable rewards. Customers receive
rewards for making purchases. With each swipe of the card, the rewards
add up. After a certain amount of points add up they can be redeemed for perks like
free rental cars, gift cards, subscriptions, etc.
It is wise to see if the Business Credit Cards
for Top Notch Credit you are considering offers
a redeemable rewards program.
Petro Rewards - Credit card issuers
can be considerate of the price
of gas and will give incentives to
consumers for using their cards by giving them a prepaid
fuel card. As transactions are completed, points are accumulated and summarized. Once enough points have been earned you can get a
free prepaid gasoline card. The funny thing is, with some cards fuel points can be earned
when you are getting gas.
Points Redeemable for Free Rental Car Upgrades, Hotel Rooms, or Frequent Air Travel Miles - When purchases are made with this kind of card, redeemable points that can be cashed in for free travel miles are earned. Once enough points are accumulated, they turn into vouchers that can be used for discounted or free travel arrangements like rental cars, hotels, or even airline tickets. This kind of card is great for business travelers.
Zero Percent Promotional Interest Rates - Customers that utilize these cards are not charged any interest or finance charges for a certain number of months.
The period where no finance charges are being applied generally spans half a year to a whole year.
Typically, customers use this kind of card
to transfer outstanding balances from their interest bearing Business Credit Cards
to one of these, then create a personal budget that allows them to pay the whole thing off without having to pay any finance charges. Keeping monthly payments up to date is especially crucial.
When one payment becomes past due, typically
the introductory rates go up to an interest-bearing
rate. Folks that are applying for
Business Credit Cards for Top Notch
Credit, and have the opportunity to sign up for a 0% introductory rate
ought to think about this money saving option.
Secured Credit Cards - People with a secured card
simply deposits a certain amount of money into an account specified by the secured card issuer.
This account serves as the security for the issuer. At that point a card is
issued with a credit limit that is the same as
the amount of the deposit. When purchases are made the credit limit decreases, affordable
regularly scheduled payments are determined, and a monthly invoice
is is mailed. If purchases are made an affordable repayment plan will be created. Secured Credit Cards
are great because they perform like
regular credit cards allowing customers
to do things that debit cards may not, like making travel arrangements including vehicle rentals
that usually do not accept standard bank account
cards. For those with bad credit approval is typically
guaranteed no matter what. However, keep in mind that most
credit-rebuilding card issuers report your payment schedule and how you keep up with your payments
to the credit bureaus. This can be a terrific
technique to show creditworthiness by showing timely
payments whether you have Top Notch
credit or not. Once you have paid
several payments in a row, most times the bank that gave you the card will allow you to make purchases over your current limit without
asking for an additional deposit.
Pre-paid Credit Cards - With
a Pre-paid card, you get most of the benefits of a credit card without the debt. Similar to
a conventional account, a certain amount of money is deposited into an account and this becomes
the amount that can be used for purchases. As the prepaid account
balance runs out, it can be reloaded with more money and used again. Reloadable prepaid cards
are terrific for budgeting, transactions can be tracked and recorded if necessary, and they are a great solution for those that cannot
acquire a conventional checking account.
Quick approval is normally not a problem regardless of
your FICO report and there is
no need for the prepaid card issuer to deal with the three bureaus.
With all of the many types
of Business Credit Cards
for Top Notch credit and
benefits that they have, there is a solution available for most credit card seekers. Seek
Business Credit Cards that give the benefits that fit your situation. No matter which card you choose, be sure to
make wise purchases and timely payments. Great credit is a terrific
To make certain that you keep building the best credit profile, follow these simple instructions:
1. Keep a balance lower than the
card's max. In other words, it is not smart to
"max out". Most people with excellent credit make it a point to keep
a bill that is about half
of the maximum spending limit on any
Business Credit Cards for Top Notch Credit.
2. Do not make late payments. Even if you have to make just the minimum payment that is listed on your monthly statement, pay it. Once a payment is more than 30 days behind, it must be forwarded to the credit reporting companies. This is not good for the consumer's credit report. Additionally, you may also have an increased interest rate as a result of just this one late payment. Thus it is smart to make this bill payment a financial priority.
3. Pay all balances down to zero every so often.
When purchases are made, make it your goal to
take a few months and pay it off at least one time per year. Then once your balance is paid off go ahead and
make more purchases then pay it back down to zero again after a few months, and keep this pattern going
This repayment history confirms to the issuing companies
that you are a great customer. Some other perks you could get when you repay in this way are
low rates, a higher limit, and a more favorable credit report.
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