Credit Tips: Best Credit Card for Small Business

Posted On: February 1, 2005

Author: upashiboka
Joined: 10 Dec 2004
Posts: 2
Posted: Fri Dec 10, 2004 11:11 am
Post subject: Which credit card would you recommend for small business

Hello, I am a new member here and this is my first post here. Currently, I have 2 cards: Mastercard from Citibank (Dividend Platinum) & Visa from credit union. I always pay my balance in full, so I don’t really care for APR. I have blocked my credit file for marketing purpose, so I dont get much offers for new cards/transfer etc. Citibank gives me 1% cashback, so I have kept their account. Visa card does not give me cashback or anything else, so I dont use it much and that is my backup card. Credit score as of last week is 768 and 750. Have not checked third score but I assume it will be in the same range. I was thinking of getting a separate card for my business account so that I can keep business expenses separate from personal expenses. Which one would you recommend? Any feedback is appreciated.

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Author: quamism
Joined: 17 Nov 2004
Posts: 7
Posted: Fri Dec 10, 2004 12:58 pm

Hard to beat AMEX for customer service and benifits if you go with the platinum card. I have had mine for about a year now and really enjoy the service and the benifits. One draw back is the limited number of places that accept the card. So i am always having to put some purchases on my personal credit card and then expense the charges i put on my personal. If i had to do it over again i probably would go with the citi business card. One interesting thing i did find out, at least with AMEX, is that they do not report to CRAs on business cards unless you default. I was not aware of this and maybe all business cards are this way, but i was not aware. Good luck.

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Author: Board Monitor
BOARD MONITOR-ADMINISTRATOR
Joined: 05 May 2003
Posts: 493
Posted: Fri Dec 10, 2004 5:40 pm

upashiboka, Thanks for your post and welcome to the board! We just posted a new article containing comparison shopping tips for business cards that may be of interest: http://www.cardratings.com/businesscreditcards.html

Also, you can view our consumer and staff reviews of various business cards. Let us know how things turn out…

Best Regards,
Curtis Arnold
Board Monitor
U.S. Citizens for Fair Credit Card Terms, Inc.
http://www.cardratings.com
501-663-0314 PH 501-301-8474 FX

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Author: Polonius
Credit Expert (100+ Posts)
Joined: 19 Jan 2004
Posts: 430
Posted: Fri Dec 10, 2004 6:55 pm

My AmEx Business card shows up on all three of the big credit bureau reports. The credit limits aren’t shown, but the card is reported. Perhaps your business card is in a corporate name and isn’t linked to your personal credit?

Polonius

“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

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Author: upashiboka
Joined: 10 Dec 2004
Posts: 2
Posted: Tue Dec 14, 2004 12:11 pm

I am rather disappointed by the lukewarm response to my question. I am looking for any “recommendations” for business card based on your “experience”, added feautures, easy acceptance etc. I know that I have excellent credit rating so I will get multiple cards if I apply. But I need just one for the business purpose. I am not in favor of Amex because of issues with limited acceptance & also since they have outsourced their work. If someone else is offering exact same thing, I will go with them. As of now I guess, I need to go with Citibank Platinum Dividend. (I already own it for personal account). Thanks.

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