Small Business Credit: Comparing Small Business Credit Cards vs. Loans

When cash flow is tight, and opportunities are knocking, choosing the right financing can make or break your business’s next move.

The wrong decision can feel like a missed chance, while the right one can fuel your growth and keep you ahead of the competition.

If you’ve ever felt torn between using a business credit card or securing a loan, this guide is here to give you the clarity and confidence to make the best choice for your business’s future

Navigating the world of small business finance requires a keen understanding of the tools available to bolster your operations and growth. As an expert in both personal and business credit and business loans, I bring a comprehensive perspective to the table that few can match.

In this blog post, “Small Business Credit: Comparing Small Business Credit Cards vs. Loans,” I explain the nuances of these critical financial instruments, helping you understand when and how to use each to your advantage.

This guide, which provides a detailed comparison of small business credit cards and loans, is designed to illuminate the path to wise financial decisions, ensuring you leverage the right option at the right time to maximize your business’s potential.

Let’s explore how each financial tool fits into your broader business strategy, paving the way for sustained success and financial health.

Understanding Business Credit Options – Small Business Credit Cards or Loans – Which to use

When managing business credit, small businesses must evaluate the available options, such as small business credit cards and business loans. Both business credit solutions offer unique advantages tailored to different financial needs.

Small business credit cards provide immediate credit access, making everyday business transactions seamless. However, credit cards are not always accepted for small businesses’ expenses, indicating the importance of understanding when they’re the right choice. On the other hand, business loans typically offer larger sums, which can be vital for substantial investments and growth opportunities.

Knowing the difference between business credit cards and business loans helps you choose the right financial tool. Small business credit cards often come with rewards programs that can be beneficial for managing cash flow yet require discipline in payments to avoid accumulating interest. Small businesses should assess their cash flow requirements and repayment capabilities to determine the most suitable credit solution.

Monitoring business credit utilization is important to maintain a healthy financial status.

Ultimately, small business owners must weigh the pros and cons of business credit cards and loans to find the ideal match for their venture. Understanding these options empowers small businesses to make informed decisions, fostering long-term growth and financial stability. Remember, responsible use of business credit is crucial in ensuring sustainable success.

The Role of Business Credit Cards and Loans

In the vast landscape of financial options for small businesses, understanding the nuances between business credit cards and business loans is essential. Both play significant roles in sustaining a small business’s financial health.

Business credit cards provide flexibility and can be crucial for managing daily cash flow, simplifying payments, and maintaining business credit. They can also help organize expenses, offering immediate access to funds without the lengthy process often associated with loans.

On the other hand, business loans, especially small business loans, are ideal for substantial investments, such as purchasing equipment or expanding operations. With a business loan, you can acquire larger sums to impact your business’s growth trajectory positively.

Business loans also usually come with fixed payments, making them predictable. However, deciding between business credit cards and loans requires careful consideration of your current needs and future goals. It’s essential to weigh how these can uniquely benefit your small business.

Whether seeking the convenience of credit cards or the stability of a loan, understanding each option’s role will empower you to make informed decisions that bolster your business’s financial health. By managing both types of business credit responsibly, you contribute to the long-term success of your venture.

Business Credit Card vs. Business Loan: Key Differences

When securing financing for your small business, it is crucial to understand the differences between a business credit card and a business loan. Both offer unique benefits and serve distinct purposes.

Business credit cards provide flexibility, allowing business owners to make quick payments and manage daily expenses. They’re ideal for managing short-term business credit needs and can be a versatile tool for maintaining cash flow.

Also, a strong credit score can help secure favorable interest rates on these credit cards. On the other hand, business loans offer larger sums of money for more significant investments like expansion or purchasing equipment.

These loans often require a capital investment and a solid credit score for approval.

Business loans are usually fixed-rate products, providing predictability in repayment schedules. However, evaluating your business’s specific needs is essential when deciding whether to opt for a loan or a credit card.

Think about the scale of financing required, the repayment terms, and your current credit score status. Whether you opt for business loans or multiple business credit cards, deliberately managing your business credit will bolster your company’s growth trajectory and financial health.

Comparing Business Credit Solutions for Small Businesses

Small businesses have a variety of business credit options when it comes to fueling growth. Comparing business credit solutions like business credit cards and business loans is essential for tailoring choices to specific needs.

Business credit cards can offer flexibility in managing cash flow, but remember, credit cards are not always accepted for all the expenses small businesses face. This is where small business loans come into play.

Business loans can be instrumental in covering significant expenses, ensuring your company doesn’t hit financial roadblocks. Loans provide a set amount of money upfront with a repayment plan, clarifying your cash flow management.

These loans can help when making larger investments for the small business, fostering growth and stability. On the other hand, small business credit cards can be more advantageous for recurring purchases, providing rewards and cashback opportunities that can help save money over time.

Both business credit cards and loans offer unique offerings, so evaluating your current financial situation and foreseeable growth is essential. By understanding the nuances of each—whether it’s a small business credit card or a loan—Sunwise Capital is here to help you optimize your business’s financial strategy and ensure sustained success!

The Advantages of Business Credit Cards

In the dynamic world of small business financing, business credit cards offer numerous advantages that can empower entrepreneurs to thrive. A small business credit card provides flexibility and convenience, enabling owners to manage expenses efficiently.

Business credit cards often offer enticing rewards programs, such as cashback, travel points, or service discounts, allowing businesses to maximize their purchasing power. One significant advantage of a credit card is the ability to track spending and streamline budgeting efforts.

With business credit cards, you gain quick access to funds without the lengthy approval process associated with traditional loans. Additionally, many credit cards offer introductory interest rate promotions, providing an affordable way to manage cash flow. The most rewarding aspect of utilizing a business credit card is the ability to separate business and personal expenses, enhancing financial organization.

Credit card issuers understand the needs of small businesses and usually offer more personalized customer service, helping entrepreneurs get the most out of their card services. Furthermore, using a credit card responsibly can positively impact credit scores, opening more doors for future financing opportunities. Embrace the versatility of business credit cards and unlock the potential to grow your business confidently.

At Sunwise Capital, we believe in supporting small businesses by helping them access the financial tools they need to succeed.

What Makes Business Credit Cards Appealing for Business Owners?

Business credit cards have become vital tools for small business owners. They offer flexibility and a range of appealing features.

One significant advantage of a business credit card is improved cash flow management, allowing entrepreneurs to make purchases now and defer payments. Additionally, business credit cards often come with rewards programs, providing incentives like cashback, points, or travel perks, which can translate into substantial savings for small businesses.

Credit cards can also help build a strong business credit score, which is vital for accessing favorable banking services in the future. Another appealing factor is the ability to track expenses easily, as most business cards provide detailed statements, helping owners manage their money more efficiently.

Unlike traditional loans, a credit card might not have an annual fee, which reduces costs. When considering business credit cards, it’s essential to assess the terms, including any annual fee and interest rate.

Furthermore, business owners can make more informed financial decisions with easy access to credit information and more diverse options. Business credit cards offer flexibility, aiding small businesses in managing operations smoothly.

Business credit cards are indispensable to a comprehensive business credit strategy, whether for everyday purchases or unexpected expenditures.

Considerations for Choosing a Business Credit Card

When selecting a business credit card for your small business, evaluating several factors is essential to ensure it aligns with your financial goals. Start by understanding the business credit required, including eligibility requirements, to be approved when you apply.

Consider the annual fee associated with the credit cards, as this can impact your cash flow. Many business credit cards offer purchase rewards, benefitting your money management. Compare rates and terms different credit cards offer to get the best deal possible. Identifying the credit card that allows the highest credit amount suited for your business needs.

Keep an eye on interest rates, as a high rate can lead to a mounting balance. The balance transfer capability can be advantageous if you must consolidate existing debts. Some business cards offer extra perks like travel insurance or purchase protection, which can add value.

Remember, credit cards can be a flexible financing tool, supporting your business operations effectively. Ultimately, the right business credit card will aid in managing cash flow efficiently, whether you’re using it for significant expenses or everyday business purchases. Choose one that aligns with your priorities and strengthens your business credit profile.

Evaluating Credit Card Terms and Benefits

When evaluating credit card terms and benefits for your small business, it’s essential to understand the key elements that make small business credit cards an attractive financing solution. Business credit cards offer a convenient way of accessing credit for day-to-day operations while providing benefits such as rewards.

These rewards can translate into savings, making them appealing to business owners. However, it is crucial to look into the interest rates and fees associated with each credit card. Interest charges can quickly add up if you don’t manage repayments effectively, impacting your business’s financial health. Therefore, always compare interest rates and annual fees for several options before deciding.
Business loans may have different interest terms and requirements, but business credit cards generally offer more flexibility. Your credit score significantly determines the rates you’ll qualify for, so maintaining a strong credit history is beneficial.

Analyze the various benefits and rewards each credit card offers and weigh these against the associated fees and interest to ensure you’re getting valuable advantages for your investment. Special rewards can be enticing, but ensure the terms align with your small business needs.

At Sunwise Capital, we encourage you to diligently assess these factors to find the best solutions for your business’s unique credit needs.

The Impact of Small-Business Loans on Growth

Small-business loans have a transformative effect on growth and expansion. These financial tools offer a crucial lifeline, giving businesses the necessary amount to invest in their operations.

With business loans, enterprises can address cash flow challenges, ensuring they meet various expenses even when business credit cards are not always accepted for small businesses’ expenses.

The importance of borrowing the right amount cannot be understated. It enables a small business to sustain momentum, seize opportunities, and expand its operations strategically. Business loans allow companies to hire additional staff, upgrade technology, or renovate their premises, making this business credit one of the most impactful financing solutions.

Understanding how these loans can drive growth as a small business owner ensures you can make informed decisions that benefit your company in the long run. While credit cards offer convenience, loans provide the larger sums often needed for significant business expansion, underscoring their role in fostering growth.

Balancing borrowing with responsible credit management is essential for maintaining financial health. Ultimately, small-business loans empower entrepreneurs to dream bigger, innovate more, and transform their operations into more competitive market players. As Sunwise Capital supports these aspirations, we believe in making growth possibilities endless.

How Small-Business Loans Facilitate Business Expansion

Small-business loans are powerful tools for fueling business expansion and operating smoothly. When businesses seek strategic growth opportunities, these loans become essential. Owners can boost cash flow by obtaining a business loan, ensuring that financial operations continue without hiccups.

Accessing this type of financing provides businesses with a reliable credit option that supports the acquisition of new equipment, expansion to new locations, or hiring additional staff. Understanding the eligibility requirements for such business loans is crucial, as it directly impacts borrowing potential.

With various small-business loan services, businesses must carefully evaluate interest rates and terms.

While credit cards offer immediate access to funds, loans provide larger amounts essential for significant investments. An appropriately chosen loan can complement cash flow, providing a buffer that ensures operations remain uninterrupted during periods of growth. Ultimately, the amount provided through a loan can be ideal for expansive undertakings that otherwise might strain a company’s financials. Business owners should carefully consider their specific needs and how a business loan aligns with their long-term goals.

At Sunwise Capital, we’re committed to helping businesses navigate the dynamic landscape of borrowing and making informed decisions that promote sustained business expansion.

Factors to Weigh Before Opting for Small-Business Loans

At Sunwise Capital, we understand that small-business loans are critical to accelerating growth. Before you borrow, it is essential to evaluate the key factors that will ensure optimal financing for your small business.

First, consider the amount you need and how it aligns with your business goals. It’s important to compare different business loans’ interest rates and terms, as this can significantly impact your company’s cash flow.

Business loan requirements vary, so gather all necessary information to streamline the process. If credit cards are an option, weigh them against business loans to find what best suits your financing needs, as both options provide different benefits and responsibilities.

Understanding your credit score’s role in acquiring loans is crucial; it’s often a determining factor in the rates you’ll receive. Evaluate your company’s current cash flow stability to ensure the ability to manage loan payments comfortably. Business owners should always know all borrowing requirements well to avoid unexpected challenges. Use this guide to help navigate the complex landscape of small-business credit, recognizing that every business has unique needs.

Let Sunwise Capital assist you in making informed, confident choices, ensuring your venture thrives. By carefully assessing these factors, you’ll be better positioned to select the small-business loan that aligns best with your vision.

Assessing Business Loans for Optimal Financing

When considering business loans for optimal financing, weighing the benefits and implications comprehensively is essential. Small-business loans can provide crucial funding to help expand your business, boost cash flow, and seize new growth opportunities.

Before borrowing, assess how a loan will align with your specific business growth goals. Determine if the amount borrowed will cover the necessary expenses while ensuring the interest payments are manageable.

Sunwise Capital offers various services to guide you in making informed decisions about business loans. Focus on key factors such as interest rates, fees, and requirements, which could impact your financing strategy. Understanding what a loan entails—and your credit score—will help you make a decision that supports business growth. Use our guide to demystify the money-borrowing process and select an option that matches your product line and market demands.

Our information can help you evaluate whether a small-business loan is the right choice over other credit options. Leverage Sunwise Capital’s expertise to navigate a clear path toward sustainable business growth through strategic loan decisions.

Using Business Credit Responsibly

Using business credit responsibly ensures your company’s steady growth and financial health. Proper credit management begins with understanding the significance of your credit score, which is vital in determining your eligibility for various credit products like business credit cards and loans.

Responsible use of credit cards and loans means making timely payments and repayments to avoid unnecessary interest and fees that could impact your bottom line. Opt for credit cards that offer rewards and benefits aligned with your business needs, and always check for optimal terms, such as a lower interest rate and flexible repayments.

Having the correct information at hand is crucial to make informed decisions. Ensuring you have adequate insurance coverage can cushion your business from unforeseen circumstances, safeguarding your access to credit. Our guide will help you navigate the complexities of business credit, offering insights into responsible credit usage, payment management, and more.

By embracing a responsibility-centered approach, you’ll unlock numerous benefits, including enhanced credit options and a stronger credit score.

At Sunwise Capital, we believe a well-informed entrepreneur is poised for smart financing decisions that drive growth while being mindful of the risks involved.

The Importance of Managing Credit Products Carefully

Understanding the significance of managing your business credit products carefully can make a tremendous difference in your company’s financial health and growth potential. Whether opting for credit cards or loans, it’s paramount to grasp the requirements and eligibility criteria to make informed decisions.

Effectively managing these products involves taking responsibility, ensuring timely payments, and diligently monitoring your credit score. The interest rates, fees, and amount of credit extended can vary significantly across different solutions.

While credit cards may offer enticing rewards and flexible spending limits, loans might better support substantial capital needs. An essential guide is balancing your owed amount and continually evaluating options for optimal business credit strategies.

Leveraging each credit card and loan smartly contributes to a robust financial structure. Regular assessment of your company‘s credit use, beyond merely making payments, ensures you harness the full benefits while maintaining an advantageous credit score.

At Sunwise Capital, we believe in empowering businesses by enabling them to understand the dynamics of different financing avenues for sustainable growth. Remember, managing your business credit isn’t just about mitigating risks; it’s about seizing opportunities for expansion and innovation.

Business Financing: What You Need to Know

At Sunwise Capital, we understand that business financing is crucial for the success of any small business. We’ll provide essential information to help you navigate the world of business credit with confidence.

When assessing your financing options, consider business credit cards and loans as potential solutions for your capital needs. Each offers unique benefits and requirements that can impact your cash flow. Business credit cards are often favored for their ease of use, providing flexibility when accessing money quickly without collateral.

Additionally, credit cards can help manage cash flow effectively through revolving credit, given your credit score meets the requirements. On the other hand, loans tend to provide larger sums of money, with structured repayment terms that may come with lower interest rates, depending on your business’s credit status.

It’s important to compare the interest rates and terms of loans and credit cards to ensure you choose the best option for your needs.

By understanding the differences between these credit solutions, Sunwise Capital empowers small business owners to make informed decisions, ultimately driving business success.

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Getting More Information on Business Financing

At Sunwise Capital, we understand that choosing the right business financing option is crucial for the success and growth of your small business.

Whether you’re considering business credit cards or business loans, gathering all the necessary information to make informed decisions is essential. Business credit products offer distinct benefits: credit cards provide flexible cash flow management and are ideal for everyday expenses, while loans are suited for significant investments or expansion.

Consider eligibility requirements, interest rates, and repayment terms when evaluating these options. Seek expert advice to ensure you understand the differences between credit cards and loans and how they meet your company’s unique needs.

Knowing the requirements and advantages of each financing option positions you to make choices that align with your financial strategy. With our extensive range of services, you can navigate the complexities of banking, access essential money management tips, and learn about the roles that both business credit and loans play in building a solid financial foundation.

Trust Sunwise Capital as your partner in achieving financial stability and success for your small business through responsible use of credit products and tailored business financing solutions.

The Bottom Line on Business Credit Options

At Sunwise Capital, choosing the right business credit option is a pivotal decision for any small business owner. When weighing business credit cards against business loans, the bottom line is understanding each product’s benefits.

Business credit cards are a flexible tool for short-term purchasing, giving you instant money access when needed. They allow efficient expense management and help maintain cash flow for your business’s day-to-day operations.

On the other hand, a business loan provides you with a lump sum financial amount, which is ideal for larger investments or projects requiring significant capital. While business loans generally offer lower interest rates, credit cards provide convenience and easy access to credit, which supports more spontaneous purchasing decisions.

Choosing between these two business credit products should consider your business needs, growth plans, and financial management style.

At Sunwise Capital, we’re committed to offering you the best business credit options and guiding you through the information necessary to make informed decisions. Whether leveraging a business credit card for everyday expenses or considering a business loan to scale your operations, our services are tailored to help you succeed.

Choosing the Right Business Credit Product

Choosing the right business credit product is crucial for any small business looking to optimize its financing strategies. Whether you’re considering business loans or business credit cards, understanding the advantages and responsibilities tied to each product is essential.

Credit cards offer flexibility in purchasing and are often optimal for businesses needing smaller amounts of credit without significant initial commitments. They also help in building your company’s credit score with responsible repayments.

On the other hand, business loans may be better when more capital is needed for growth. When deciding between these credit products, it’s vital to weigh factors like interest rates, repayment terms, and your current credit score.

Both products play significant roles in a company’s financial health, offering unique benefits that align with different business needs. This guide aims to provide clarity and assist small businesses in making informed choices.

Consider what interests align with your company’s goals, and choose a product that enhances growth and financial stability. By carefully evaluating each option, businesses can ensure they select the most beneficial credit solution. Selecting the correct business credit product can lead to successful financial outcomes, and fuel continued business expansion.

business credit: top 5 myths

MYTH #1: I FIRST NEED EXCELLENT PERSONAL CREDIT TO GET BUSINESS CREDIT.

It would be best if you started with your personal credit. Many lenders look not only at the business’s ability to repay a business loan, and these lenders will look at the individual business owner’s credit profile applying for the loan. Don’t get frustrated!

MYTH #2: MY CARDS FROM AMERICAN EXPRESS GIVE ME ACCESS TO BUSINESS CREDIT.

FACT: Although your credit card from American Express or your Capital One Spark may say “Business” on the card, your name under the business name tells creditors you personally guarantee it. Unfortunately, it’s still considered personal and not business credit.

MYTH #3: IF I GET TURNED DOWN, I’LL KEEP TRYING OTHER CREDITORS UNTIL SOMEONE EVENTUALLY SAYS YES.

FACT: Persistence is usually admirable, but not when applying for credit. Every application counts as an inquiry. And after the 3rd one, most creditors won’t even consider a request for at least 90 days! The key is establishing good business credit scores with all three business credit bureaus. How? It would help if you found vendors, suppliers, and credit card companies that can give you a little credit without using your personal credit score as the basis. The next step is to have them report your business payment history to the credit bureaus. You must then complete all the basic lender approval requirements. Just about every lender works with an essential checklist of about 20 items.

MYTH #4: “I JUST NEED TO SHOP FOR THE RIGHT BANK OR CREDIT UNION THAT WANTS MY BUSINESS.”

FACT: Changing banks may do you more damage. Creditors want to see a banking history; the longer the history, the better off you’ll be.

WARNING! DO NOT MOVE BANKS. The longer your banking history is, the better.

MYTH #5: “I ALREADY HAVE A PAYDEX SCORE WITH DUN & BRADSTREET, SO I HAVE BUILT BUSINESS CREDIT.”

FACT: D&B is a valuable part of the equation for building business credit, but it only represents one-third of the task. Experian and Equifax are of equal value, and they serve different markets.

You must build business credit scores separate from your personal credit. Your business must be an incorporation (INC or S-Corp) or a limited liability company (LLC). When you build business credit, the business loans and lines of credit you secure are not tied to your social security number but your EIN and will not report to your personal credit profiles.

Understanding which credit agencies will best serve your financing needs is important. If you want to obtain business loans or lines from a bank, Equifax is the most critical component of your credit-building process. Equifax operates the Small Business Financial Exchange, where all the banks share business data. The challenge is that if you do not build business credit scores with Equifax, you may be hurting your chances for real bank business loans.

WARNING! Over 500,000 vendors extend business credit, but only 1.2% report to national credit reporting agencies. The objective is to have at least five Net 30 accounts opened – and reporting. They don’t have to serve 100% of your needs initially.

Frequently Asked Questions

What is the difference between a small business credit card and a small business loan?

A small business credit card provides a revolving line of credit that allows you to make purchases and pay them off over time, with a credit limit based on your creditworthiness. You only pay interest on the balance you carry forward each month. In contrast, a small business loan provides a lump sum of money upfront that you repay over a fixed term with set monthly payments. Business loans are typically used for larger expenses, while credit cards are ideal for managing day-to-day purchases.

Which is better for building business credit: credit cards or loans?

Both small business credit cards and loans can help build business credit when used responsibly. Credit cards can help establish a strong credit history through regular purchases and on-time payments, while loans show a lender’s trust in your ability to manage larger sums of money over time. Credit cards may offer more frequent opportunities to build credit through regular transactions, whereas loans demonstrate your ability to manage long-term debt.

When should I use a business credit card instead of a loan?

A business credit card is best for short-term expenses, managing everyday purchases, or covering smaller costs like office supplies, travel, and meals. It’s also a good option if you want to earn rewards or cashback on purchases. Business credit cards offer flexibility since you can repay balances as you go. However, a business loan may be a better choice for larger expenses requiring a longer repayment period, such as purchasing equipment or expanding operations.

Are interest rates higher on business credit cards compared to business loans?

Generally, business credit cards tend to have higher interest rates than business loans. Credit card interest rates can range from 12% to 25% or more, depending on your credit score and the card issuer. Business loans often have lower interest rates, typically 6% to 15%, especially if you qualify for an SBA loan or have a strong credit profile. The higher rates on credit cards are offset by the flexibility they offer for revolving credit.

Can I use a business loan to pay off a business credit card?

Yes, it is possible to use a business loan to pay off a business credit card, especially if you want to consolidate high-interest credit card debt into a loan with a lower interest rate. This strategy can save money on interest payments and simplify your debt into a monthly payment. However, it’s important to ensure that you can manage the loan’s repayment terms and that the overall cost of the loan is less than the credit card interest.

Which is easier to get: a business credit card or a business loan?

Qualifying for a business credit card is generally easier than a business loan. Credit card issuers often have lower credit score requirements and a simpler application process. Business loans, especially those from traditional banks, usually require detailed financial documentation, a solid business plan, and a higher credit score. Online lenders may offer easier access to loans, but they may come with higher interest rates than traditional loans.

What are the pros and cons of using a business credit card?

Pros include flexibility in spending, the ability to earn rewards or cashback, and revolving credit that can be reused as you pay down your balance. Cons include higher interest rates, the potential to accumulate debt if balances are not paid off, and fees such as annual fees or late payment penalties. Business credit cards are ideal for managing cash flow but can become costly if not managed responsibly.

What are the pros and cons of using a business loan?

Pros of business loans include lower interest rates, predictable monthly payments, and the ability to access larger amounts of capital for significant investments. Cons include the time-consuming application process, stricter qualification requirements, and the need to provide collateral for certain types of loans. Business loans are better suited for long-term investments or large purchases but may lack the flexibility of credit cards for daily expenses.

Can I have both a business loan and a business credit card?

Yes, many businesses use a business loan and a business credit card to manage their finances. A business loan can provide the capital needed for more significant investments, while a business credit card can be used for ongoing operational expenses and emergencies. Using both responsibly can help diversify your credit profile and provide a balanced approach to managing your business’s financial needs.

How do I decide between a business credit card and a business loan?

To decide between a business credit card and a business loan, consider your business’s immediate financial needs, the size of the expense, and your repayment capacity. If you need to make smaller, ongoing purchases and want flexibility, a business credit card is a good choice. A business loan may be more appropriate if you need a larger sum for a specific investment or project and want to spread out repayments over time. Evaluate the interest rates, fees, and your ability to manage repayments for both options before deciding.

Can I Use My EIN to Get a Credit Card?

Yes, you can get small business credit cards with EIN. An EIN, or Employee Identification Number, is helpful when applying for any funding for your business. You will need it for most business transactions. Using your EIN for all of your business-related financial operations will help you to build credit for your business and keep your personal credit from being affected.  If you are careful, you can even get small business credit cards without a personal guarantee.

What is the Easiest Business Credit Card to Get (even with poor credit)?

If your credit score is less than ideal, you will most likely want to explore the same options for business as you would for personal credit. Usually, that means a secured credit card. Secured credit cards give you more control over spending limits and often have lower fees. They are also a great way to build business credit if you make timely payments.

Here is a list of the more prevalent business credit cards. Check the minimum requirements before applying and look for the best small business credit card offers. You may even see if you can find small business credit cards without a personal guarantee. (The list below is a sample of business cards available; we are not recommending or endorsing them.)

• Chase Ink Business Unlimited Credit Card
• Chase Ink Business Cash Credit Card
• Chase Ink Business Preferred Credit Card
• Capital One Spark Cash for Business
• Capital One Spark Miles for Business
• American Express Blue Business Cash Card
• The Business Platinum Card from American Express
• American Express Business Gold Card
• The Blue Business Plus Credit Card from American Express
• Capital One Spark Cash Select for Business
• Bank of America Business Advantage Travel Rewards World Mastercard Credit Card
• Marriott Bonvoy Business American Express Card
• Delta Reserve for Business Credit Card
• Platinum Delta SkyMiles® Business Credit Card from American Express 
• Hilton Honors American Express Business Card