If you are stuck with a high interest rate business credit card, then perhaps it’s about time to get a new one. Below are some practical tips to help you make the right business credit card choice:
Know your credit standing. Issuers of business credit cards often reserve the best deals for clients with good to excellent business credit. Thus, it is smart to build a solid business credit history and use it to enjoy the best deals from creditors. To avoid getting decline, don’t forget to check the issuer’s credit requirement before submitting your application.
Count your credit cards. How many credit cards for business should you have? Ideally, one or two accounts should be enough for your needs. Managing too many accounts can prove to be confusing and risky as well. Take time in comparing cards before making a final choice.
Read reviews. Credit card reviews can help make your search a lot easier. Online reviews will show you the best and weakest points about different business credit cards so you can see which ones have the best potential.
Understand the real deal. Some credit cards may initially give low interest rates or no annual fees but as soon as you sign up, the good deal is bound to change. If you won’t spend time analyzing the Terms and Conditions along with the Disclosures, you could easily end up with the wrong choice.
Ask for a lower rate. You can request your present business credit card company to lower your interest rate so you won’t have to make the switch to a different issuer. IF you have a good credit history, you should have no problem convincing your issuer to give you the best possible rate.
Before negotiating with your business credit card company, you should do some research and get to know what other issuers offer. Point out some of the best deals you noticed in the market and ask your issuer if it’s possible for them to match that offer.
About the Author
Tara Tiemann is a credit analyst for Go-prepaid.com which has been a resource site for people who want to live debt free. If you are on a budget using prepaid debit cards,prepaid credit cards and prepaid cell phone service can save you big money!