Start-up Credit Cards: 5 Best Options

Let’s define a Paydex score before we inform you about the finest credit cards for businesses and urge you to sign up for one.

Fico Score, Equifax, and Experian are all terms that most people are aware of. The only problem is that this has nothing to do with your company’s creditworthiness. Personal and business credit are the two types of credit. In the business world, your Paydex score is also known as your corporate credit.

You must first register for a D-U-N-S number before you can get a Paydex score. Dun & Bradstreet will provide your organization with a D-U-N-S number, granting you access to critical data, analytics, and business insights. Developing Small Business Credit

Net 30 Accounts

Take a look at the business credit builder before you start building a business credit card.

Net 30 Accounts are the most powerful credit boosters for small businesses. To help your business grow and thrive, you’ll need a lower business credit line. If you have great business credit, you can acquire finance for your company even if you don’t have a loan. Net 30 Accounts are a safe and long-term way for businesses to establish credit after the owners have approved it.

Which Credit Cards are Best for Startup Businesses? 

1. American Express Blue Business Card

This one is for companies that don’t have a steady stream of revenue. It permits you to go too far if necessary. It’s also great because there aren’t any yearly fees! Based on your spending, you may be eligible for member incentives. If you spend $50,000 or more, you will receive a 2% rebate. For this card, your credit score is between 690 and 850. It’s not a bad idea to apply; you may be approved in under a minute.

2. Capital One Spark for Business

If your business spends more than $50,000 per year, this is a fantastic idea. The annual membership fee is $95.00. You can rapidly connect to QuickBooks if you need to. This card can be linked to if you need to reimburse clients online. If you spend $4,500 in the first three months, which is not tough, you will receive a $500 cash prize.

3. Chase Ink Business Unlimited

This high-risk business credit card has an annual cost of $95, but the rewards and bonuses are well worth it. If you spend $5,000 in the first three months, you’ll get $800 in cash or $1000 in travel expenses! When using this card, there are no foreign transaction fees. For every dollar spent on what you need for your business, you will receive one point. This card will reward you with three points for every dollar spent on social media, search engine ads, shipping, and marketing travel, up to a total of $150,000.

4. American Express Simply Cash

For the first fifteen months, there is no annual fee or annual percentage rate on this card. You’ll get a 5% return on your office equipment and business phones. You’ll be able to earn a limitless amount of 1% cashback! Furthermore, you can earn 3% cashback on flights, hotels, freight, equipment, software, advertising, vehicle rentals, and even gasoline! You can never go wrong when it comes to getting money for gas unless you own a TESLA. This is a wonderful card to start with if you wish to join the AMEX family.

5. Wells Fargo Business Credit Card

This is an excellent option for new business owners seeking to improve their credit scores. With this card, you can gain credit while still receiving benefits. For every $1 spent on purchases, you can choose to earn one point. If you sign up for the Wells Fargo Credit Card Rewards Program, you can get $1.5 percent cash back on transactions.

How do I Apply? 

It works in the same way that a credit card request does. If you don’t have an employer identification number, you can apply as a sole proprietor (E.I.N.). You can file your taxes using a nine-digit number supplied by the Internal Revenue Service. It’s like a social security number, but it’s for your business!

With the guidance of a knowledgeable tax professional or accountant, you can obtain an E.I.N. You’ll need an E.I.N. if your company has one or more employees. In some cases, even if you don’t have any employees, you may need an E.I.N. A company, a limited liability company (LLC), or a corporation, for example, all require an E.I.N. When qualifying for a business loan, this “business social security number,” as we like to call it, is required.

It’s never enjoyable to be denied a new company credit card, but if you follow these methods and improve your Paydex score, you should be able to meet your objectives.