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Two things are most important for me: my bike and my balances.
All joking aside, I'm a certified financial planner, and I'm always looking to keep myself informed about the newest cards. My bike keeps me travelling, so I'm especially knowledgeable on travel rewards, and hotel cards and such, like the Hilton card.
The best business credit cards for startups are the same as the best business credit cards for any company. Whether big or small, every business needs a solid credit card. And approval for a busine…
Answer by: @bikercarder
The best business credit cards for startups are the same as the best business credit cards for any company. Whether big or small, every business needs a solid credit card. And approval for a business credit card does not depend on how long your company has been around. Rather, it rests on the owner’s personal credit history, and that’d better be rated as “good” or “excellent” if you want one of the top cards. Assuming you can qualify, choosing between the best business credit cards comes down to what you spend the most money on. Your goal should be to find the card with the best rewards on your company’s biggest expenses. But you should only consider purchases that you’ll pay off within a single billing period. Business credit cards are bad for carrying a balance from month to month because your interest rate can change at any time.
With that background out of the way, let’s take a look at some of the top offers in categories popular among entrepreneurs.
Here are the best business credit cards for startups:
There are a lot of great incentives for you to get a business credit card for your startup. Shop around to see which card fits your needs best. Good luck with your business!
The Chase Slate foreign transaction fee is 3%. So you’ll pay an extra 3 cents for every dollar you spend in another country or with a foreign merchant. That can add up fast. Chase Slate’s foreign fee would equal $90 if you charged $3,000 to the card while on a family vacation abroad or an international business trip, for example.
There’s no point in paying a penny more than you need to on international purchases, given how many credit cards there are with 0% foreign transaction fees. None of the Capital One or Discover cards charge a fee, for instance. And there are plenty of others. The best approach is to get a no foreign fee card for international spending and use Slate for its intended purpose: saving money on debt. Just consider the card’s main terms, and its strengths and weaknesses will be obvious.
Chase Slate has a 3% foreign transaction fee, plus:
Chase Slate’s foreign transaction fee just goes to show that the card wasn’t designed for travel or international shopping. It’s really for people looking to lower the cost of credit card debt or avoid interest on a big purchase. There’s no reason you can’t have both Chase Slate and a good travel credit card with no foreign fees, though.
The best shopping card for bad credit is probably the Fingerhut Credit Account. That is, if by “shopping card” you mean a credit card that can only be used at an online or catalog retailer. There are actually a lot of better credit card options, both secured and unsecured, that aren’t tied to any specific retailer, since the companies that release these shopping credit cards may not really be giving you the best prices on the market.
Here are the best shopping credit cards:
It’s also important to note that a lot of store credit cards are great for shopping, giving you discounts on purchases or other rewards. But store credit cards require at least fair credit, so if you take a few months to improve your credit score you can eventually qualify for one of those. For now, a secured credit card is your best bet.
The longest 0% APR credit cards are Citi Diamond Preferred and Citi Simplicity, which both offer 21 months of no interest. Such a long period of 0% interest can be really helpful if you need to make a big purchase but can’t pay it all off right away. You can avoid interest entirely if you pay in full by the time the intro rate ends. And if you can’t manage that, you’ll at least have a smaller balance when interest kicks in.
It’s important to note that some store cards may offer 0% interest for longer than 21 months, but they use deferred interest. That is, you earn interest on your balance during the 0% period but don’t have to pay that interest if and only if you bring your balance to $0 before the 0% period ends. The JCPenney Card is one example, offering 48 months of deferred interest. But those cards are best avoided because there’s a chance you’ll get blindsided by interest charges. So they’re not really eligible to be in the running for longest 0% APR.
Here are the longest 0% APR credit cards:
None of these cards offer rewards, but they’re meant for financing rather than regular spending. And you can use a different card for purchases you’ll pay in full each month. All of these cards also require good credit (so you should shoot for 700+ before you apply).