If you have bad personal credit, business-specific credit cards can be a good way to start rebuilding or establishing your financial history. Although unsecured business credit cards are ideal, those with poor personal credit will typically have trouble qualifying for one. You may need to look into secured cards, however. These cards can help you establish a business credit score if you make your payments on time. This article will discuss the options available to you Stylishster.
Most business credit cards require excellent or good personal credit, so you must improve your credit score before applying. Once you have an established business credit score, you may be eligible for a higher interest rate or higher credit limit. Be sure to keep your business purchases separate from personal purchases. You can build your personal credit score over time by repaying your debts on time and with no outstanding CCJs. You can also apply for a credit card with a higher limit and lower interest rate.
Another option is to sign up for a business credit card with a large sign-up bonus. This bonus, often $500 or more, is a reward for making certain purchases in a specified period of time. However, these sign-up bonuses will only be useful if you can repay your balance in full, so be careful to stick to your normal spending limits. Avoid spending more than you can afford to pay off, because you will incur interest charges Tishare.