Here are the steps you can take to get a business credit card into your hand without hassle.
- Visit any online article directories and look under the business credit card categories. If you already have a specific card in mind, you can visit the card issuer web site directly. If the issuer is a bank, you can also choose to visit its branch or call up the bank’s credit card department to request for an application form to be mail to your house.
- Review the requirements on the application form. You will want to know what documents you need to submit for verification purposes. These documents include tax returns, latest billing statements, your personal income statement and other information related to you business. If the requirements are not stated on the form, you may want to contact the card issuer to find out the requirements first.
- Take a look at their terms and conditions. Some of the important items to take note include grace period, late payment charge and APR after the introduction period. These items affect your business expenses and you should not skip over them.
- Fill in the form and pick the design of the card you want if there are more than one design. If you submit the form online or via telephone, you will probably need to fax in your supporting document.
- Be patient and wait for the card issuer to approve your application.
Here are a few things to take note when applying for a business credit card.
- Credit card expenditure is equivalent to borrowing money from the bank or card issuer. You have to pay the money back. Make sure you make payment on time.
- Different credit cards come with different benefits. Choose the one that meets most of your needs. If you frequently fly to other cities or countries for business purposes, a card that allow you to accumulate air miles will be suitable for you. If you do not fly often, you are probably better off in getting a card that can provide discount for office supplies purchases.
- Take note of the grace period. You will want to pay the credit card bill promptly to avoid late payment charges. Whenever possible, pay the outstanding balance in full.
- Interest rate should be as low as possible. You do not want to use too much of your company fund for interest payment.