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Which Are the Best Business Credit Cards for Cash Back?

Shrewd business owners are looking for business credit cards that provide cash back. This category of cards will typically give you a percentage of your spending back to you in rewards. On top of the ongoing rewards business owners can accrue for each dollar spent, many of these cash back cards offer upfront bonuses worth […]

What Should I Look for When Choosing a Business Card?

If you’re a small business owner looking to streamline your expenses, opening a business card can give you benefits and spending flexibility. Many business credit card companies offer rewards, special financing, and free employee cards that can make them crucial for your enterprise. Since every business is unique, there are no one-size-fits-all cards. With the […]

What Is the Difference Between a Hard and Soft Credit Inquiry?

A credit inquiry happens when a lender (or another authorized party) performs a credit check to analyze your creditworthiness and help them make their lending decision. These types of inquiries are known as “hard,” and others are called “soft.” Because the inquiry is noted on your credit history, the main difference between the two is […]

What Are the Benefits of Using a Business Credit Card?

The benefits of using a business credit card are as good if not better than personal cards. They provide ready access to capital business owners can use for most business expenses. The Federal Reserve’s 2021 Small Business Credit Survey reports that 21% of business owners applied for a credit card to fund their businesses.  If […]

What Are Some of the Bonus Categories for Business Credit Cards?

To remain competitive, credit card companies offer incentives to entice business owners. Bonus categories give you perks that make spending your company’s hard-earned revenue a bit more agreeable. When you use this type of business card, you can spend in bonus categories including business travel, gasoline, and restaurants to earn points and cash back bonuses. […]

How to Record Business Expenses Paid by Personal Credit Card

As a small business owner, you know that tracking your expenses can be a chore, especially if you’re doing it yourself. Making company purchases on your personal credit card is a great way to track spending while: Improving your consumer credit score Leveraging consumer protections not offered to business cards Taking advantage of a broader […]

How to Build Business Credit with Poor Personal Credit

Lenders evaluate your business credit to determine your creditworthiness. It helps them decide if your company is eligible for financing, and it demonstrates financial responsibility to prospective vendors, business partners, and investors. Building business credit typically means utilizing your personal credit as a starting point. Yet, poor personal credit can be a stumbling block for […]

How Is Personal Credit Calculated?

Credit scoring models use complex algorithms to calculate your personal credit score based on five basic pieces of financial data:  History of timely payments The amount of credit you use relative to your limits Age of your credit history Number of new credit applications The diversity of your credit portfolio Personal credit scores are just […]

How Do the Credit Reporting Policies of Personal and Business Credit Cards Differ?

If you plan to open a credit card account to help cover company expenses or earn rewards, you have plenty of options. Depending on how you plan to use it, you may find that it makes more sense to use a personal credit card than a business card.  One of the ways personal and business […]

How Do Personal Credit and Business Credit Affect Each Other?

Though personal credit and business credit are two separate things, your personal credit scores can impact your ability to get a business loan, credit card, or other financing types. This is especially true if you are still establishing your business credit profile.  Many banks and lenders use your personal credit scores as a large part […]