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Business and Entrepreneurship

What are the best business credit cards?

DNBC Team DNBC Team

Jan 31, 2023

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People use credit cards not only for shopping but also for business activities. It helps businesses in spending and managing their budget. With the advantage of spending first and paying later, businesses will replenish working capital promptly and reduce risks compared to cash circulation. So, what are the best business credit cards? – which are used most in business activities? In this below article, DNBC Financial Group will show you some best business credit cards.

What are the best business credit cards?

What are the best business credit cards?

Business credit card – what is it?

A business credit card is a type of credit card issued by a bank to a company or business. This is considered a package solution to help businesses facilitate spending and manage their budget. With the advantage of spending first and paying later. Businesses will be able to replenish working capital in a timely manner and reduce risks compared to cash circulation.

Easier to earn than a line of credit, a business credit card can help small business owners save cash while still buying the equipment and supplies needed to keep the business running. Surveys report that more than 65 percent of small businesses now have a credit card, and this number continues to grow. Of course, unlike personal credit cards, the same caveats hold true: Business credit cards must be used with caution and only for business gain. However, there are several advantages of business credit cards that make them a useful tool to help grow your small business.

What are the benefits of a business credit card?

Easy payment

You do not need to change money when travelling abroad. Just carry a compact credit card that you can easily spend on all payments anywhere. You do not need to exchange foreign currency or carry cash. All payments are made through a single swipe of the card.

Secondly, you can easily pay all kinds of fees. Such as travel expenses, costs of importing raw materials from abroad, electricity and water, airfare, hotel costs, etc., are easily paid via card. Both ensure safety and security and quickly save a lot of time.

Save time and money.

The company’s expenses are often large, so it will take longer to raise enough cash. The management of large amounts of cash also makes businesses often confused or lost. But when using a business credit card, cardholders do not need to spend time preparing cash as well as calculating expenses. 

Best way to manage money

If you use a credit card, all your transaction history will be saved by the bank, and other statement information will be sent. Therefore, you or your business will always know the expenses, their content, and their nature. At the same time, expenditures in the name of individuals and companies will be completely separate. Therefore, the business will be able to fully track its spending information, and its purpose, and it will be easy to find out personal expenses.

Risk Control

With the traditional form of payment in cash, businesses may face many risks related to corruption, mutilation, and misuse of the company’s budget. Or simply carrying a lot of money to serve large payment transactions also entails a lot of effort in management and preparation time. Fixing that, paying with a business credit card eliminates the need for cash preparation altogether. And can prevent losing money in the account in case of losing the card with just one phone call to the bank’s hotline.

Increase credit rating

Having business credit cards, not overusing them, and making timely payments can help boost your business credit rating quickly. Make sure to do business with vendors that report your transactions to the credit bureaus.

Top 3 best business credit cards

As is the case with credit cards, some businesses will benefit greatly from them while others will suffer from poor management and misuse of the cards and opportunities acquired. For example, you can use the usual 21-day grace period before paying to maintain more cash. However, if you don’t pay by the 21st, you will be charged late fees and your business credit rating may be affected. Be very careful about cash advances. If possible, avoid using them altogether, as they can cost you extra interest and fees.

Top 1: United Club℠ Business card

The card is made for business owners who fly heavily on United and live for luxury perks. The $450 annual fee is offset by the complimentary United Club lounge membership (worth $550/year), so the rest of the benefits are essentially free. You’ll earn a nifty 1.5 miles-per-dollar on all purchases (2-1 on United), with no limits or spending categories.

Top 2: Ink Business Unlimited® Credit Card

Busy business owners will appreciate this card’s simple flat-rate rewards program, which doesn’t require time to manage and optimize.

Top 3: World of Hyatt Business Credit Card

The World of Hyatt Business Credit Card marries an ongoing earnings structure with the ability to use card spending as an extra boost toward earning status with the chain.

About DNBC Financial Group

DNBC is always proud of being an experienced Financial Institution in the global financial payment market. We provide competent, trusted, and secure solutions to empower commerce across all in-store, online, and mobile channels.

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Note: The content in this article is for general informative purposes only. You should conduct your own research or ask for specialist advice before making any financial decisions. All information in this article is current as of the date of publication, and DNBC Financial Group reserves the right to modify, add, or remove any information. We don’t provide any express or implied representations, warranties, or guarantees regarding the accuracy, completeness, or currency of the content within this publication.