Credit Cards For Business

Advanta Business Credit Cards - Is Advanta Right For Your Business?

By: Ed Vegliante

Advanta opened for business in 1951. Its founder, Jack Alter, ran the company from a spare bedroom of his home. Today, more than 50 years after its initial start, the company has grown into a large corporation, specializing in credit cards for small business owners. If you have a company and are thinking about getting a credit card to help with finances, Advanta is one of the options you'll find. Here's a closer glance at the pros and cons of an Advanta business credit card.

Made for Businesses

Advanta cards are geared to small business owners, and many of their features reflect that. Some of them are designed so that all of the company expenses can be placed on just one account. This helps streamline operations, making it easier to calculate finances. The credit lines that Advanta offers are remarkably high for the credit card industry, reaching up to $50,000. You also may have the option of including your company's name on the card.

Comparable Rewards

If you do not usually carry a balance, you may be able to take advantage of some of the rewards that Advanta offers. A number of this company's cards include a reward program. With the Advanta Platinum BusinessCard with Rewards, for example, you can choose between earning cash back or points through purchases. With the cash back plan, you'll receive up to a 5% rebate on business-related items, such as computers, electronics, gas and diesel fuel, utilities, telecommunications, and online advertising services. You'll get 1% cash back on other purchases. If you choose the point system, you can earn one point for every dollar that you spend. The points can then be redeemed for travel items or pre-paid bonus cards.

Not for Everyone

While Advanta does offer specific benefits for small business owners, applying for a credit card through them may not be your best option. Generally speaking, you'll need a solid credit background to receive one of their cards. So if you have a history of credit trouble, you may want to look at applying for a different card.

The APR, or annual percentage rate, of many Advanta cards is reasonable. However, it is usually a variable rate, fluctuating with the prime rate. The card's rate is based on the highest prime rate during a 90-day period. This may mean higher interest rates on your card, depending on the status of the economy.

Read the Fine Print

Generally speaking, it's a wise idea to read through the attached terms and conditions before applying for a credit card. The same is true for Advanta Business credit cards. While they offer many benefits, they may have potential drawbacks as well. The reward plans or interest rates may not fit your business needs. If this is the case, search online for other options. Many websites carry a variety of cards geared toward small business owners.

Whatever you decide, take the time to carefully weigh the options before you apply. If Advanta has what you need, apply for the card. If not, find a card that suits your business and send in an application for it. When the actual plastic arrives in your mailbox, you'll have a card that can help advance, and not hurt, the small business you've worked so hard to create.

About: Click Here to Find Advanta Business Credit Card Offers.Ed Vegliante runs the website http://www.Credit-Card-Surplus.com, a well organized credit card directory enabling the consumer to compare and apply for a variety of credit card offers. View more Credit Card Articles. Source: Ezinearticles.com

Instant Business Credit Cards

By: Kent Pinkerton

The need for start-up funds and additional capitalization cannot be underestimated since numerous countries are attempting to boost their economies by promoting entrepreneurship, small-scale industries, and business diversification among the business sector. As a result, banks and other financial institutions are offering different business credit card facilities with multi-functional features and a wide array of benefits for the purpose of providing capital and operational funding for all types of businesses and employees alike.

These credit cards are easily within reach, as they are mostly offered online and can be applied for and approved in real time. You simply have to go through a series of basic steps that generally include the following:

(1) Searching and evaluating Web sites of reputable card issuers to avoid the fraudulent use of information you are likely to give upon submission of application. This also includes taking into consideration the safety measures used by the card issuer's site, such as Internet security and stipulated terms and conditions on protection of privacy.

(2) Comparing and analyzing various credit card features and incentives, depending on what is beneficial and convenient for your business and employees. It is easier to use comparative tables citing individual card characteristics, advantages and disadvantages because you are able to see the similarities and differences of each card at a single glance.

(3) Completing the application form after deciding which credit card you want to use. Be sure to double-check the accuracy of data, especially if it pertains to business income, business tenure, business nature, number of business owners or incorporators, number of cards to be requested, etc. These are the primary factors a card issuer takes into account when determining your credit limit. For most major banks, it usually takes an average of 5-7 banking days to deliver your business credit card/s upon online approval. You can also contact your card issuer through the customer service group regarding the status of card delivery or any concerns regarding your credit card application process. Although the steps in procuring a business credit card are relatively easy, you must still be vigilant throughout the entire application and approval process to eliminate unnecessary hassles.

About: Business Credit Cards provides detailed information on Business Credit Cards, New Business Credit Cards, Secured Business Credit Cards, Bad Credit Business Credit Cards and more. Business Credit Cards is affiliated with Small Business Credit Cards. Source: Ezinearticles.com

Secured Business Credit Cards

Establishing Business Credit - Secured Business Credit Cards

By: David Gass

Many businesses now use corporate credit cards to pay their bills, particularly those between their suppliers or vendors and themselves. There are a number of products on the market that can meet these needs. They include the traditional credit card that accumulates a balance monthly and requires only a minimum monthly payment to keep the account up to date as well as procurement cards that are used by many companies to purchase small items or supplies. An example of a procurement card might be a gas card that allows employees to fill up the company vehicles.

But another form of credit card used by businesses is called a secured business credit card. The difference between a traditional credit card and a secured business credit card is that the latter requires a business to open and maintain a savings account that provides a backup to the creditor in the case of any defaults or missed payments by the borrower.

A secured business credit card can be used to pay for all the same services as a regular business card and in order to open one a bank or credit card company will require a savings deposit that can range from a few hundred to several thousand dollars. The business is then allowed to use the secured business credit card up to the level of this deposit, although some lenders put additional restrictions on the borrowing amounts depending on the credit rating of the business.

In addition there are normally application and processing fees for a secured business credit card that will cover the administrative costs of the application including any credit or reference checks that the lending institution may wish to carry out. These fees vary from lender to lender. A secured business credit card is also usually more expensive to use than a conventional credit card and often has an annual fee and carries a higher rate of interest than a traditional credit card.

The advantages of a secured business credit card are that it allows the business to continue to access the convenience of using a credit card, even if their overall credit rating or credit score is not that great. Even companies and individuals that have faced serious financial problems like loan defaults and bankruptcies are eligible to apply for a secured business credit card. Sometimes a secured business credit card can make the difference between business survival and their downfall because it lets the business pay vendors who are reluctant to advance any more supplies unless they have a guarantee of cash or a secured business credit card in their hands.

The other major advantage of a secured business credit card is that it allows a business to build or restore their business credit rating. Many financial reporting agencies look at the successful use of a secured business credit card as a step on the road to rehabilitating poor credit scores and in the long term can assist a business to recover its credit rating and its reputation.

About: David Gass is President of Business Credit Services, Inc. His company publishes a weekly e-newsletter on Starting and Growing a Small Business at http://www.smallbusinessconsulting.com You can sign up for their free newsletter by visiting http://www.smallbusinessconsulting.com Source: Ezinearticles.com

Four Things You Need To Know About Secured Business Credit Cards

By: Max Anderson

If you are one of the business owners who hasn't considered what secured business credit cards can do for your business, you're not alone. Many entrepreneurs overlook the benefits of secured business credit cards. If your business's creditworthiness isn't as appealing to lenders as you would like it to be, you should consider these five facts.

1. Secured Business Credit Cards Aren't a Stigma

Some people think that applying for a secured card means lowering themselves to a lesser financial standard. What many people fail to realize is that secured cards aren't just for people with damaged credit, these cards are also for people who have not yet been able to build a credit history at all. This applies to secured business credit cards too.

Applying for secured business credit cards doesn't mean that your business has failed in any way whatsoever. What it means is that your business is in the infancy stages of building a solid financial history. Secured business credit cards can play an important role in this stage of your business.

2. Secured Business Credit Cards Aren't a Rip-Off

Yes, it's true that some secured credit cards abuse their card holders and charge ridiculous interest rates and unwarranted fees. However, not all secured cards are alike. There are many secured business credit cards that charge nominal annual fees and reasonable interest rates. It's just a matter of shopping around and finding the one that's right for you.

3. It's Your Little Secret

If you're afraid that you'll be embarrassed when you pay for business purchases with a secured card, you'll be relieved to know that secured business credit cards aren't really decipherable from unsecured cards. It's not like the credit card companies put "Secured" in big bold type across the front of the card.

Secured business credit cards are actually quite discreet. The only people who will know your business credit card is a secured card are you and your credit card company.

4. It's Not The End

While secured business credit cards may not be your idea of an ideal financial tool for your business, you have to understand that they are a means to an end, not the end itself.

When considering secured business credit cards, it is important to remember that they are the beginning of the road, not the end of it. Your business will only need a secured card until your credit history is established. Depending on the growth of your business and the industry it is in, it may only be six to twelve months before your business qualifies for an unsecured credit card.

About: For more tips on getting the best business credit cards, saving money and avoiding getting taken, check out http://www.CreditCardTipsEtc.com, a website that specializes in providing credit card tips, advice and resources. Source: Ezinearticles.com