<p style="text-align: justify;">As a small business owner, how do you cover your expenses as you await your customers to settle their invoices? For instance, you are in search of more capital to grow your business. As the owner, the investors want you to pitch reasons why they should invest in your company.</p>
<p style="text-align: justify;">How do you book your flight and accommodation while your clients have yet to settle their invoices? Well, the answer is a business credit card.</p>
<p style="text-align: justify;">In 2015, there were 13.9 million <a href="https://www.mercatoradvisorygroup.com/Templates/BlogPost.aspx?id=6866&;blogid=25506" target="_blank" rel="noopener">small business credit card accounts</a> in the US. Experts forecast that the purchase volume of small business credit cards will balloon from $493 billion in 2017 to $686 billion by 2022.</p>
<p style="text-align: justify;">In this post, we highlight 5 key tips for finding the best business credit card.</p>
<h2>#1. Learn the Basics of the Business Credit Card</h2>
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<p style="text-align: justify;">Business credit cards are valuable tools when it comes to building credit. They are also valuable for keeping personal and business expenses separate. To ensure you have the right credit card, learn the basics.</p>
<p style="text-align: justify;">For instance, a business credit card is for business expenses only. When it comes to credit limits, they are higher compared to personal credit cards. This helps you make lots of purchases for your business in a month.</p>
<p style="text-align: justify;">When you apply for a business credit card, you will have to make a personal guarantee. In case you do not pay off your balance with your business revenue, you have to do so with your personal funds.</p>
<h2>#2. Learn the Card&#8217;s Features and Terms</h2>
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<p style="text-align: justify;">Before applying for a credit card, learn about the <a href="https://www.creditcards.com/credit-card-news/help/7-things-know-business-credit-cards-6000.php" target="_blank" rel="noopener">card&#8217;s terms and features</a>. By doing so, your business will not be dinged with unexpected fees. For instance, does the credit card offer high spending cap?</p>
<p style="text-align: justify;">Do you get rewards for specific expenditures – equipment, online advertising, travel, and shipping? Is there a sign-up bonus? Does it come with expense management where you can set up employee cards with customizable spending limits?</p>
<p style="text-align: justify;">By choosing your credit card wisely, you get to reap rewards and grow your business.</p>
<h2>#3. Consider Your Business Lifestyle</h2>
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<p style="text-align: justify;">Before you learn how to apply for a business credit card, examine your business lifestyle. For instance, do you or your employees travel for business over long distances? If you do, the best credit card rewards program is one that offers airline miles.</p>
<p style="text-align: justify;">You should also ask yourself how often do you entertain clients at restaurants? To offset much of the spending, go for a credit card with good rewards for restaurant spending.</p>
<p style="text-align: justify;">Learn more about the <a href="https://bonsaifinance.com/best-credit-cards/" target="_blank" rel="noopener">best credit cards</a> that will help you improve your credit score.</p>
<h2>#4. Check Your Business Operating Costs</h2>
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<p style="text-align: justify;">What are your top two or three biggest expenditures in your business? For instance, you are an e-commerce business. As such, you are spending more on internet marketing.</p>
<p style="text-align: justify;">That means hiring SEO experts, internet marketers, and social media influencers.</p>
<p style="text-align: justify;">Another example is where you offer customer support over the phone. As your biggest spending, it is smart to apply for a business credit card that offers bonus cash back. Earning good rewards on your expenditures makes it easy for you to redeem the rewards and save.</p>
<h2>#5. Have a Strategic Approach to Maximize Points</h2>
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<p style="text-align: justify;">Now that you have your business credit card, focus on earning and redeeming rewards. To ensure this does not take long, have a consistent and strategic approach. With this in place, points will increase quickly.</p>
<p style="text-align: justify;">Let&#8217;s assume your business is spending $ 20,000 on online advertising. Your card awards three points for every dollar spend. That means you’ve earned 60,000 points.</p>
<p style="text-align: justify;">These points are worth at least $600 if redeemed translating to a 2% to 3% return on online advertising.</p>
<h2 style="text-align: justify;">Finding the Right Business Card</h2>
<p style="text-align: justify;">There are more things to consider when finding the right business card. Consider the annual fee, learn about introductory and ongoing APRs. Other factors include checking your credit score and reducing your business costs.</p>
<p style="text-align: justify;">Did you enjoy our post on 5 key tips for finding the best business credit card? Check out our website for more great posts.</p>

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