Posts Tagged business credit cards

Business credit cards are debt facilities for your business.  As such, any problems you encounter with it are supposed to only affect your business scores, not your personal credit standing.  Unfortunately, that’s not always the way it works.

If you are a small business owner, there’s a good chance that your business credit card is affecting your credit rating.  If you are a personal guarantor for the business credit card and used your personal social security number to apply for it (as many small business owners do), you are just as liable for the debt as your business is.  As such, any problems you encounter with the card - from missed payments to going over the limit - reflects on your credit report.

Corporate credit cards, on the other hand, work in a different way.  Different contracts are usually provided for different accounts, so you will need to clarify it with your  company’s personnel resources.  From what I’ve seen, though, you’re usually off-the-hook when it comes to corporate cards.

If you recently ordered a copy of your credit report, you can check it to see if the business credit card is declared as one of your accounts.  Should you find it there, it’s safe to assume that it will affect your overall credit score.  As such, you need to treat it the same way you treat any regular credit card - carefully looking over what gets included in your credit report to ensure accuracy.

Looking to cut down on the interest you’re paying on your existing credit card balance? If you are, you might definitely want to consider a balance transfer credit card. It’s the most easily available way of paying down your credit card without those nasty interest rates that seems to just keep on piling up.

These three cards, all from Advanta, represent some of the best of what’s available, offering 0% APR for the first 15 months, among other attractive features.

Advanta Platinum Business Card

This credit card offers a zero percent interest rate on balance transfers for a full 15 months. There is, however, a balance transfer fee of 3%, with a maximum charge of $90. It offers a rewards program as well that allows an unlimited number of points to be accumulated. Here you can read Advanta Business Credit Card Review .

Advanta Platinum Customized Business Rewards

This card features the same balance transfer provisions as the Platinum Business Card, which means a full 15 months at zero percent APR and a cap of $90 on the 3% balance transfer fee. In addition, this is also a cash-back card, with the rebates program taking effect after the 15-month balance transfer period expires.

Advanta Kiva Business Card

Similar to the above two, this card from Advanta features the same rates and charges. It differs in its rewards package, which is a rebate program designed for small businesses with traditional expenses, incurring 5% cash back when you spend on gas, computers, utilities, and charity donations. 1% cash back is offered for expenses in all other categories.