Friday, May 9, 2008

How To Apply For a Small Business Credit Cards Online

Applying for a small business credit card online has now been made easier thanks to the Internet.Gone are the days when a person has to personally go to the offices or agents of credit card companies to apply for their business credit cards and waste precious time and wait for their turn to be entertained.Small business credit cards are a boon to shoppers in general particularly to those who are too busy to scout for goods and services in different locations in their area. Possession of a credit card means more shopping convenient and security because one no longer has to carry cash in his possession.There are plenty of credit card companies where one can apply for a business credit card online. However a person should scrutinize the offers being made by these credit card companies to avoid being taken for a ride and suffer the consequences in the end.A person who applying online should read the policies of the credit card companies not only as to interest rates but as to surcharges and the grace periods for delayed payments. Some offer grace periods for unpaid credit but the surcharges they impose are way too high. It would be advisable to get one small business credit card that would answer all the spending needs of a person.It will enable the person to have more time scrutinizing the company and its rules and regulations.It is always good to be informed of all hidden charges and policies which may prove disadvantageous to the applicant. This enables him to make an intelligent decision whether to continue with his credit card application or whether he should choose another company that fits his needs as well as his financial position.Applying for a business credit card online may be easy but take note of the very good offers these companies are making. Most often these companies will offer very low interest rates to lure those applying for business credit cards online. In the end they will realize that the very low interest rates are good for the first three or six months only and the succeeding rates are enough to keep a person bankrupt just paying them off.He may be getting great benefits including the non-payment of annual fees for the first year as well as very low interest rates for a certain period. However, he should look at the overall benefits and disadvantages of owning such a credit card. The process of applying for business credit cards online is quite easy because the sites provide clear instructions on how to go about the application. However, the hardest part is getting the real lowdown on what the credit card company really offers.Syed writes for Small Business Credit Cards a directory of business credit cards from top issuers such as American Express, MasterCard, Visa, Advanta, Chase and CitiBusinessArticle Source:

Thursday, May 8, 2008

Why Owners Opt for Small Business Credit Cards

The small business credit card market is a rapidly growing market in the financial services industry. If you are planning to apply for small business credit cards, see how your reasons compare with those of other business credit card holders:· Business credit cards provide credibility and legitimacy to your business. It is an intangible benefit, but when the business credit card company approves a business credit card for your small business, it gives a signal to other merchants that your business has good, sound credit. A business credit card is a very credible imprimatur.· For the start-up small business, or one which has a tarnished record, a business credit card allows your business to build or rebuild a credit history. By ensuring that this credit history remains consistently positive, you will establish the foundation for securing a business loan or line of credit should you decide to expand the business in the future. The business credit card is your guaranteed line of credit for now.· Monthly business expenses are easier to track with a business credit card. The monthly business credit card account statement helps with the reconciliation of the purchases you make on behalf of your business.· The usefulness of the business credit card statement is not limited to tracking business expenses. It can also be used as a reliable – and acceptable – alternative documentary proof when you prepare your books and your financial reports for income taxation purposes.· Business credit cards and personal credit cards have similar benefits and rewards. When you have a business credit card, you will have a separate opportunity to enjoy discounts, cash back and rewards points on purchases of the goods and services necessary for your business.· When you have business credit cards issued to your employees, they can make purchases on behalf of your company without advancing their own funds, or use the business credit cards when they travel for business. Their use of the business credit cards makes it easier to account for expenses.· When you charge purchases to business credit cards, you get the chance to enjoy cash discounts. Companies that supply business-to-business products normally give significant discounts when the purchase is paid for in full upon purchase. If the purchase is on credit, the discounts are smaller and calibrated according to the financed period. Charges to your business credit cards always count as cash purchases, since your business credit card issuer will take care of paying them shortly afterwards.· The purchases you make on your business credit cards may qualify for special insurance protections from the business credit card company. In case something turns out wrong with the item you bought by means of your business credit card, and the merchant is not willing to return your money, the insurance protection will cover the amount.· There is rightful concern about the high interest rates on business credit cards. Suffice to say that these are still lower than rates on merchant credit. If you make effective use of the float period, then pay off your balance in full each month, you actually avoid paying any interest at all. If you plan to carry a balance, make sure you find the business credit card with lower interest rates.· The rewards business credit cards give great benefit when you do a lot of travel.In short, it makes good business sense to have a business credit card or two at your disposal.Richard Gilliland Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card - Compare Credit Card Offers with - Unraveling the best in Personal and Business Credit Cards.Article Source:

Wednesday, May 7, 2008

Do You Need a Small Business Credit Card?

So you've recently started a business and you're wondering if you should apply for a small business credit card... Whether or not you need (or are even ready for) a small business credit card can be a big decision. Make sure you make the right one by asking yourself these four questions.1. How Old Is Your Business?When considering whether or not to apply for a small business credit card, you should first look at how long your company has been in business.If you've been in business for fewer than six to twelve months, you may want to wait a bit before applying. However, if your business is out of the "first-year danger zone" you may indeed want to consider getting a credit card in your business's name to help your company's growth and prosperity.2. How's Your Credit?Unless your business is very well established, chances are you're going to need to personally sign and be responsible for the small business credit card you obtain for your company. Because of this, you need to evaluate your own credit situation before applying for any business credit cards.If you have good credit, you really have nothing to worry about. There will be a wide variety of small business credit cards for you to choose from. However, if you have some credit issues, your options will be limited and you may need to apply for secured business credit cards until you are able to improve your credit rating.3. Can You Afford It?Another big question that you really need to ask yourself when applying for a small business credit card is whether or not your business can afford to have one. Someone is going to have to pay the bills when the statements come in every month and if your business isn't generating enough revenue, you're going to have to foot the bill.4. What Kind of Small Business Credit Card Do You Need?If you have asked yourself the above three questions and have decided that a small business credit card is in your company's best interests, you need to determine what type of business credit card will best meet your needs.If you plan on paying your balance off in full when the bill comes in each month, then you should look into business credit cards that offer rewards. However, due to their higher interest rates, rewards cards aren't a good option if you plan on carrying a balance. If you plan on carrying a balance, opt for a low-interest card instead.Deciding whether or not to apply for a small business credit card doesn't have to be hard. Determining where your business stands and what type of small business credit card you need are both critical steps towards finding the business credit cards that will best serve your needs.For more tips on business credit cards, saving money and avoiding getting taken, check out , a website that specializes in providing credit card tips, advice and resources.Article Source:

Monday, May 5, 2008

Best Small Business Credit Cards Processing Review

According to small business owners credit card processing is the backbone of small business. Credit cards are used around the world because its very easy and comfortable mode of payment. Credit card processing is good and supportive to both small and large business. It will help you to expand your business in different directories.This allows your clients to make payments through their credit cards at any time of day and from anywhere in the world. You can also process your orders telephonically. And if you obtain a master account, it lets you process such payments and you can encash your money and get going. Even you can make your bill payments with the help of such facility. This saves time.If you have your own website, secure and encrypted connections are the foremost requirement you need for safe credit card processing. You should also have fraud prevention tools to prevent credit card scams.The main purpose of credit card processing for small business is its save your time and energy. Credit card processing has made it simple to make and receive payments while doing business with the help of a web site. Now your clients can send payments directly on to your credit card number, it is not compulsory for them to have a credit card, they may even send you the payments from there savings or online bank accounts. In fact credit cards have revolutionized the online website business by removing the barriers of delayed payments through mail. It is a must for a small business to have a credit card processing enabled web site in order to grow the business at a great pace.All that a small business needs is a merchant account that is enabled to carry all types of credit processing features with the use of a credit card or just the credit card account number provided the password is verified. There is a difference in online and offline mode of transactions through credit cards but a small business house should prefer opting for both the features so that they can grow there business both online and offline.Madiha writes for Small Business Credit Cards a directory of business credit cards from top issuers such as American Express, MasterCard, Visa, Advanta, Chase and CitiBusinessArticle Source:

Sunday, May 4, 2008

Why Every Business Owner Needs To Own A Small Business Credit Card

Today in the world we live in small businesses are needed. In the time we live in it is very easy to create a small business. There are many types of small businesses from gas stations to office corporations. With all the new businesses on the go these companies should be looking at getting small business credit cards.The reason being for this is so you won’t get your business budget mixed with your very own financial stuff. After you have this credit card you can start making purchases in person on the internet or just online in general. These types of credit cards are accepted everywhere and can buy anything you want as well.If you have a small business then you know what it’s like spending your own cash to make the money you need. This can get to be something that you don’t want. You will be able to make the buys you need without spending the cash or having it. You won't have to keep track of everything either you will just need to look over the statements each month to make sure you are not late on your payments.Having a small business credit card is also a good way to help gain credit for your company. As you pay with your small business credit card it will look a lot better than paying in cash. It will gain respect from a lot of other companies and will show that your business is becoming a professional and liable business. Maybe after a few months with the credit card you will be able to get the small loan you need to make your business run and even better and making more money faster.Even if your business isn’t a fortune 500 company and you are not making a 6 figure income you still might need a small business credit card. Credit cards are good things to have and you never know when you may not have cash handy. Your computer stuff could crash and you might need a new computer and other stuff as well the credit card wont leave you hanging. If you are without a credit card for your business then your financial status with your company may start falling.These small business credit cards will do you and your company good. They will help build your company and your credit will rise as well. So you can start getting the loans you wanted or loan you wanted without and troubles at all. A lot of credit card companies will give you cash back rewards for paying your bills on time. All you need to do is get your small business credit card and start building your credit. After you have had it for awhile you can probably get anything you need for your business without any questions asked.Gregg Hall is an author living with his beautiful wife and family in Navarre Beach, Florida. Find more about business tips as well as business books at http://www.executivebusinessbooksummaries.comArticle Source:

Saturday, May 3, 2008

Small Business Credit Card Application - 5 Things You Need To Know

Getting a credit card for your small business can be the best thing you can do for your accounting department. There are many things, both good and bad, that you should know about small business credit before you fill out a small business credit card application. For example, you will be able to assert more control over your employee spending and your bookkeeping records by opening a credit account for you business. On the other hand, in some cases, your personal credit can be affected by your small business spending habits. The purpose of this article is to examine five things you should consider before filling out a small business credit card application.Personal Credit is ConsideredIf your business is brand new, the credit companies will use your personal credit as the determining factor whether your business gets a credit card or not. If your personal credit isn't that good, or you don't want extra credit checks on your personal credit history, this can be a obstacle in obtaining small business credit cards.Rules Against Using Personal Credit for BusinessesCarefully look over the terms of our personal credit cards and you should see it stated somewhere that no business charges can be charges on them. Credit companies don't want you to mix personal charges and business charges together on personal cards. To set up a professional and legal business, you need a business credit card for business charges.Control Over Employee SpendingSmall business credit card applications have a place where you can request additional cards for employees with preset limits. With the limits in place you can allow your employees to use credit cards without worrying about them going overboard.Gain Incentives for Your BusinessJust like with personal credit cards, small business credit cards offer rewards, or incentives, for making purchases with their card. Incentives range from cash back rebates to travel miles to discounts for rental cars and hotel rooms. Since businesses are considered very valuable customers to credit card companies, the incentive programs for business credit cards are usually better than those offered to individuals.Provides Convenient Monthly ReportsThe majority of small business credit cards come with convenient monthly statements that make it easier to track purchases and update accounts. The bookkeeping department will love you for getting a business credit card for the company!Morgan Hamilton is an experienced Financial Adviser who has written a number of informative articles on the topic of Small Business Credit Cards Visit to learn more about completing Small Business Credit Card ApplicationsArticle Source:

Thursday, May 1, 2008

Find Perfect Small Business Credit Card And Capture Rewards

Before you even consider applying for a card, there are useful features that should be included in the offer. Do you know what these features are? Whether the business is already set up or just getting started the term "Find perfect small business credit card" is still very popular with today's business managers. Unfortunately, not many business owners know what to look for when searching for the perfect card. Below, I will reveal what you should look for when considering a business credit card offer so that you can save money and receive extra rewards.Let us assume that you have received an offer via email, post or some other way. First, compare the card offer at hand with at least three others. As a business manager you would expect all or most of the following features and tools to be part of the offer:An important feature is additional cards for employees, specially if you have a business partner. Some loan companies provide additional cards at no extra cost. Ensure, that if you decide to make use of this feature, that you are allowed to set credit limits on your employees.You want flexibility and freedom from your credit card but you also want security. Ask your lender if they offer $0 liability for unauthorized purchases.Quarterly and annual account summaries broken out by employee and purchase category: This a priceless feature that can save you hundreds of dollars on accounting fees. If you carry out your own bookkeeping, imagine the amount of time you would save on allocating expenses to corresponding categories alone. Also, business owners need to keep track of employees' expenses. Account summaries take care of this tedious but important task for you.The Annual Percentage Rate (the effective interest rate) can make it easier when comparing offers. A o% APR on purchases and balance transfers,ideally for at least 12 months provides you with a set time to pay the balance outstanding at almost no cost to you. If you pay back on time, it can be a cheap source of short-term finance. Never again will you miss the opportunity to save money at a sale due to lack of finance.Prescription Discount Benefit Program This feature can be used to include cardholders and or their dependents.Manage your account online Ensure that you can manage payments, view statements, track activity, request a credit increase and add employees.Another key feature should be no annual fees. Why should you have to pay fees for using a business card, regardless of how much you spend on it?Take time to compare offers, read or watch videos on the topic. Before you apply for a small business credit card, ensure that all or most of the above benefits are included in the offer. And, if an entry in your diary reads "Find Perfect Small Business Credit Card" visit and start accummulating extra rewards.Article Source:

Wednesday, April 30, 2008

Small Business Credit Cards

Often small business owners mistakenly believe they would not be approved for business credit cards. What you may not know is that the majority of credit cards are awarded to small business owners with no employees! In fact, 75% of all small businesses have no employees, so if this describes your business, you might be pleasantly surprised at the availability of your credit card options.Before you go around applying to every credit card on the market, however, you'll want to take a little time to find one that will most benefit your own needs for business credit.Do you carry a balance from one month to the next or do you plan to pay off all purchases made with a card every month? Do you tend to shop the same store regularly? Do you travel frequently, particularly by airplane - or are you a road warrior, conducting business from your car and traveling from one location to another constantly? Considering how you currently conduct your business will help you select business cards that best match your needs. If you rarely have reason to buy airline tickets, it doesn't make sense that you apply for a card with airline miles; and if you are shopping for office supplies in the same store each month- you'll want to look at cards that give you bonuses or cash back on those regular purchases.For example, let's say you regularly purchase printer ink, paper, pens and staples in order to operate your business. They are necessary expenses and you should consider applying for business credit cards that allow you to earn cash back on those exact purchases! When you get 5% back on office supply purchases you make on a credit card, it just makes sense to use your card for those purchases and start accumulating your rewards. Discover, American Express, Citibank and GM all offer business credit cards with cash back on office supply purchases, ranging from 1% to 5%; and also some rewards programs offer points that are later redeemable towards merchandise.Other credit cards offer different types of rewards, and could include any combination of the following, typical rewards:Bonus points (redeemable for merchandise, cash back, or airline miles) Unlimited free companion tickets for flights Access to personal business assistant Travel accident insurance coverage Cash Back on specific purchases or on all purchases made with your business credit card Rewards towards the purchase, lease, or maintenance of a vehicle In addition to the rewards that are offered from spending with your credit cards, they also offer assistance keeping track of your business expenses. If you were to use a credit card each month to pay for all of your business expenses, you would have no problem knowing where your money has gone each month!You can view both your mailed statements as well as your online statements (available with the majority of credit cards) to see details on what was paid for that month, and how much. Instead of writing numerous checks and mailing each one individually; you could write one check at the end of each month to pay off your business credit card account. Not only do you save time writing checks, but you'll also have an easier time balancing your checking account. Plus, if you have employees, issuing them a card linked to your account means you'll see their expenses on your monthly statement as well- making it easy to keep track of everything in one, convenient place.Small business credit cards are available to business owners- even if you do not have other employees! They can make your record keeping easier and you can gain numerous benefits just by paying for your regular business expenses with a credit card.This article is courtesy of, where you can compare business credit cards and apply for credit cards online.Article Source:

Tuesday, April 29, 2008

Business Credit Scoring: Is It a Killer Application or Application Killer?

In his 1968 seminal novel, 2001: A Space Odyssey, Arthur Clarke introduced HAL, a spaceship computer with artificial intelligence. Mission engineers designed HAL to carry out an array of technical orders to safeguard the ship’s mission. HAL operated flawlessly until it reported the failed operation of a ship system that was operating perfectly. Rather than correct the mistake, HAL’s logic dictated that it would be more efficient to kill the ship’s crew. Ever the polite computer, HAL killed quickly and quietly until it was unplugged by the sole remaining crewmember, Dave Bowman.

Many small business owners believe that HAL’s progeny are carrying out HAL’s murderous mission in the small business credit arena. Computers now make important credit decisions for major banks and financing companies. Each day in the U.S., computers with fancy algorithms score thousands of small business credit transactions. Though credit-scoring models work well for most small companies, many believe these systems, like HAL, have run amuck. Routinely, transactions with low scores are turned down and applicants are notified of the decision by computer-generated rejection letters.

By gaining a better understanding of the credit scoring process, you may be able to help your firm maneuver in the new world of credit scoring. Here are some key points about business credit scoring worth noting:

1. Credit scoring automates the credit evaluation process. Credit providers use these systems to speed up loan processing, to cut processing costs, to quickly adjust rates and terms to match credit risks, and to add a high degree of objectivity to credit decisions.

2. Credit scoring is a predictive system based on statistical modeling. Scoring systems are designed to forecast whether borrowers will be successful in repaying loans. Many systems use up to 20 factors to evaluate credit worthiness.

3. Many lenders and leasing companies use credit scoring for business transactions under $100,000. Over 90% of major credit providers use credit-scoring systems on transactions below $ 50,000.

4. A pioneer and leading credit scoring service, Fair Isaac and Company, researched statistical credit modeling in the 1980s. They determined that the personal credit behavior of a company’s key principals/owners is a strong predictor of their business credit behavior. Simply stated, a business owner who pays personal bills on time generally will cause his/her company to pay bills on time.

5. The Fair Isaac scoring model produces business credit scores ranging from 50 to 350. Credit providers usually consider a business credit score above 220 to be a good risk. They consider a score of less than 175 to be a high risk.

6. The overriding factor in business credit scoring is the credit history of the business owners or the key principals. In addition, there are other factors related to the owners’/principals’ personal credit profiles used to score small business transactions

7. Business-related credit factors scored include: the company’s time in business; company size; industry; form of company organization; history of paying bills on time; business net worth; average bank balances; ratio of debt service to cash flow; and recent judgments, bankruptcies or agency collections.

8. Many large lenders, such as Well Fargo Bank and Bank of America, have developed their own predictive business credit models. Several have even fine-tuned the Fair Isaac model to better meet their needs and preferences.

9. If your firm is rejected for credit based on a scoring model, ask the lender to explain the rejection. Some lenders will reconsider if requested, but may require additional credit information.

10. Some lenders have special pools for higher risk credits. They usually charge higher rates and offer terms that are less advantageous than for high-scoring transactions. Others may ask for credit enhancements to grant approval, such as additional collateral or outside guarantees.

11. Here are ten ways to improve business credit scores:
* Improve the credit habits and profiles of the key principals or business owners
* Pay all back taxes* Settle outstanding liens and judgments
* Pay bills on time and be consistent with payments
* Eliminate supplier disputes by settling with any suppliers or former employees
* Sell or factor accounts receivable to improve cash flow
* Establish your firm’s credit record by registering with the Secretary of State where your business is incorporated
* Try to improve individual and company credit for at least twelve months
* Buy from vendors who report activity to the major credit bureaus
* Set up automatic account debiting with creditors to help eliminate the possibility of paying slow

Credit scoring is not designed to predict individual loan performance with certainty. Rather, these systems do a great job of quantifying risks for groups of borrowers with similar characteristics. A disadvantage of credit scoring systems is that they are easy to misapply. If the lender’s customers don’t share characteristics and behavior patterns with the model’s underlying base group of credits, then reminiscent of HAL, many transactions with great potential may be eliminated.If your firm doesn’t score well under a scoring model used by a major lender, you may face an uphill battle for credit approval. Some smaller credit providers try to differentiate themselves by not using scoring models. Instead, they actually listen to borrowers, sort out unusual circumstances and use old-fashion human judgment to make credit decisions. One of these lenders might make sense for your firm.

George Parker is a Director and Executive Vice President of Leasing Technologies International, Inc. (“LTI”). He is responsible for overseeing the company's marketing and financing efforts. One of the co-founders of LTI, Mr. Parker has been involved in secured lending and equipment financing for over twenty years. Mr. Parker is an industry leader, frequent panelist and author of several articles pertaining to equipment financing.

Headquartered in Wilton, CT, LTI is a leasing firm specializing nationally in direct equipment financing and vendor leasing programs for emerging growth and later-stage, venture capital backed companies. More information about LTI is available at Source: