Business Credit Cards Blog Posts

The credit card industry has many players, from credit card issuers, to credit card networks, to merchant acquirers. Each handles a different part of a credit card transaction, allowing customers to draw on a revolving line of credit at checkout.

According to the Nilson report, there were $932.85 billion in outstanding balances on credit cards in 2021. American Express saw the highest outstanding balances per card at $2,153, but had the lowest percentage of delinquencies among accounts that were carrying a balance.

Credit card issuers extend customers a revolving line of credit with which to make purchases. This amount can be drawn upon, paid off, and then used again so long as the account remains open and the credit limit isn’t exceeded.

If you’re wondering how to lower your credit card interest rate, know that you can always contact your credit card issuer and request an interest rate reduction. They may not say yes, but if you have good credit health and a lengthy history of making your payments on time, you’ll increase your chances of success.

Most business credit card issuers require your SSN when you apply. However, in certain instances, it may be possible for you to obtain business credit without providing your SSN and avoid personal liability and a hard credit pull. This article will detail the circumstances in which you can apply for business credit cards with your EIN only.

When it comes to deciding between Chase vs Capital One business banking, the competition is close. Both offer branch access, cash deposits, savings options, and access to credit. Which one will be a better fit for your small business?

Unfortunately, business credit cards that lack personal guarantees are few and far between. With how risky a proposition businesses are, issuers just aren’t comfortable handing out credit cards without some sort of extra backing. Still, there may be a few options out there for your business that don’t require a personal guarantee.

Nonprofit organizations have plenty of reasons to sign up for a credit card. Because a nonprofit is technically a business, it may make sense to apply for a business-specific credit card, though there are cards available specifically for nonprofit use as well. Whether you’re looking for a card with no personal guarantee, strong rewards, or something else, discover the best credit cards for nonprofits here.

A business credit card can help startups and entrepreneurs establish business credit, earn rewards, separate finances, track spending, or accomplish other goals. Wondering which credit cards are best for businesses? Take a look at our top picks!

Having good credit is important when you are seeking a source of credit, such as a loan or credit card. Find out what credit scores are, why you should be paying attention to your scores, and how to maintain good credit in our complete guide to personal credit scores.