Questions to Ask Business Credit Card Companies
Some questions to ask include:
- Does the introductory rate cover purchases and balance transfers?
- How long does this "teaser" rate last? What is the APR after it expires?
- What is the company liability limit if employees misuse their charge cards?
- Does the account come with a rewards system? Is there a cap on earned rewards?
- How are rewards redeemed?
- What are the consequences for a missed payment?
Selecting a Merchant Account for Your Business
When comparing competitive credit accounts, company owners should consider their operational practices. A high APR can be a deal breaker for business owners who must carry a balance from month to month, but companies that regularly pay off balances may accept the interest rate if an account comes with the best rebate program. On the other hand, cards that offer travel rewards may be of little use to companies not requiring regular travel.
Employers should find out whether account providers supply multiple employee cards, free of charge, with customizable spending and cash-withdrawal limits. In addition, many credit companies allow businesses and individual consumers to select their payment dates based upon their regulation of cash flow, which is helpful to organizations that base bill-pay schedules around invoicing and payroll periods.
Credit Card Applications provides owners and employees with a convenient way to compare merchant accounts while providing them with a simple online application process when they find suitable cards for their companies.