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Credit Cards For Business Owners

These days there are many small businesses springing up around us. Everyone is in the race to become a successful entrepreneur or millionaire. If you have also started a small business then in all probability, you might need a business credit card. Again, there is a business credit card and a small business credit card. As a small business owner, you will have the flexibility to choose from a variety of small business credit cards. This is where the trouble lies: in choosing the best credit card.

The best way to find out which UK credit card is suitable, all you have to do is compare credit cards from a UK credit card comparison website. When you are comparing the credit cards, keep in mind that you have to choose it from the point of view of it being feasible and perfect for your small business. In UK there are many credit card companies that offer small business specific cards including Barclay Card, Virgin, HSBC etc.

You will have to first identify the features that you will be using most often in business like purchasing stationary, computer, other electronic items etc. So you should go for a small business credit card that offers you a 0% fee on purchases for 12 months or 6 months. Look out for the discounts that you may get on specific purchases and if there are any cash back policies in place or not for the same. There are some UK credit card companies who offer business tools that will help you to keep an eye on the card transactions on a daily or monthly basis.

HSBC , UK offers business cards that have a credit limit of at least £500, and the maximum limit can always be negotiable. Small business credit cards in UK are packed with some benefits and advantages. Some of the advantages are:

  1. Most of these cards any cards have a high spending limit, which means that you can maximize the purchase power where your business is concerned.
  2. Some of the business cards offer a 56day free credit period with no interest at all. This is applicable only if you always pay the full amount on your bill.
  3. If you are traveling out of UK then your small business card will get preferential exchange rates

While comparing the small business credit cards, check if they have fraud protection policy or not. Both MBNA and Barclaycard offer this on all their business cards and you also have the flexibility to choose purchase protection. Through purchase protection, you will get a cover against theft, any kind of loss and damages for at least 90 days.

One of the most important factors to consider while choosing a small business credit card is the rewards and loyalty programs associated with the cards. Some of these cards have associations with a particular airline like Virgin cards can get you discount on Virgin Atlantic flights. Some others have air miles schemes where you can accrue point’s everytime you fly and these points can be redeemed later for discounts and even free air tickets.

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