Three Things to Look for in a Business Credit Card

There may come a time when you need to apply for a business credit card. This holds true no matter if you are a “one man show” or in charge of an organization that is growing at a rapid pace.

With hundreds of business credit card offers to compare, there are multiple questions to answer before making a final decision. While it is important to focus on key details, such as the interest rate and credit limit, there are other points to take into consideration as well.

Here are three things to look for in a business credit card:

1. Low fees (or no fees). Is there anything worse than having to pay for the use of a business credit card? Some cards offer so much that paying an annual fee, for instance, is well worth it. On the other hand, there are offers that don’t warrant this type of fee.

In addition to an annual fee, be aware of any others that could pop up from time to time. Are you going to be charged for additional card members? Will you be hit with a fee if you need to transfer a balance?

2. Reward program. Let’s face it: this is one of the biggest benefits of using a business credit card. With each dollar you spend you collect points. As your points grow, so does the list of things you can cash them in for.

Depending on your spending habits, you may be able to use credit card points regularly for hotel stays, airplane tickets, rental cars, and other business related expenses.

3. How many people can access the credit line? With some business credit cards, you are only allowed to have one person per account. With others, however, you can add multiple card holders.

Note: there is often times a limit as to how many card holders you can add to the account for free. After this number is reached, you will have to pay a fee for each additional person.

If you are in the process of searching for a business credit card, don’t overlook these three details. When you get what you want in these areas, you will be happy with the plastic you are carrying in the future.