Behind the Scenes of Become.co: A Comprehensive Review

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Become.co review

Become.co – aka “Become” – is a relatively new player in the online lending field, offering financial solutions for owners looking to optimize profits and obtain funding to grow their business. 

The offer has received mostly positive reviews with a Trustpilot rating of 4.6 (believe it or not, this is impressive for a financial offer). Users have praised their services, highlighting quick and effective funding solutions. They’ve also mentioned friendly and professional staff, as well as seamless processes.

Become seems to go above and beyond traditional business lenders, but is the offer real or hype? 

That’s what I intend to explain (in detail). Let’s explore everything Become might be able to help you achieve, and see how they stack up next to competitors. 

Here’s what’s in store: 

Let’s begin! 

What is Become.co? 

Become was founded in 2016 by Amir Leitersdorf, Daniel Katz, Eden Amirav, Guy Zipori, Iri Amirav, Ofer Ariel, and Uri Sittan. The company is based in San Mateo, California, and has received Series A funding totaling $15.2 million. 

The offer is an end-to-end financial optimization platform and loan marketplace for small and medium-sized businesses (SMBs). In a word, it uses advanced algorithms to provide customized funding offers to SMBs, helping them scale and grow their businesses.

Become.co login

We’ve seen comparable business funding algorithms before – from companies like Divvy (credit card), Fundbox (loans/credit lines), and Lendio (funding marketplace), to name a few. But, Become doesn’t just use technology to match business owners with lenders.

Become goes a bit farther with their offer, and gives business owners access to solutions that help them scale: 

  • A vast array of business loans from various lenders
  • Transparent LendingScore™ dashboard
  • MatchScore™ to pair SMBs with lenders 
  • Automated application review
  • The BeProfit app (to help track and analyze eCommerce profits)

Let’s peek behind the curtain at the solutions you might want to take advantage of. 

Recommended: 6 Best Fintech Credit Cards to Apply for (Consumer & Business)  

What Type of Business Loan Can You Match With Through Become? 

As I said, Become can get you access to an array of loans. But, in straightforward terms, what’s this mean for you? 

Here are the types of business loans Become can match you with:  

  • Commercial vehicle loans
  • Startup business loans
  • Asset-based loans
  • SBA loans
  • Lines of credit 
  • Business equipment loans
  • Unsecured business loans
  • Invoice factoring & merchant cash advances (MCAs)

As you first dive-in to the offer, it appears that Become is like a Credit Karma for business (though they’ve referred to themselves as the “Tinder” for business). 

How to Qualify for Funding

In sum, Become wants to see your credit score (it seems that they use their own proprietary LendingScore™ as opposed to Paydex or FICO), time in business, and revenue. 

Keep in mind that since Become works with so many lenders, a poor credit score won’t necessarily disqualify you from obtaining funding. But, it might limit you to certain types of loans (probably high-interest funding like MCAs or invoice factoring). 

If you’re based in America, you’ll need a business that’s been operational for at least 3 months. This qualification doesn’t seem to be negotiable, and the only way around it would be a creative solution like purchasing a shelf company. 

Finally, Become wants to see that your business brings in an average of $5K in revenue per month.

Now, if you don’t qualify for funding through the platform, you will be informed about why, and shown how you might improve your business health and improve your LendingScore.™  

eCommerce Loans 

Working in the eCommerce space? If you sell on Amazon or Shopify, you can connect your store to the platform (no paperwork required) and find out if you qualify for funding – you can potentially receive up to $100K within a day. 

You may also need to connect to your online advertising channels to rate your marketing efforts. 

Currently, Become partners with Kapitus, Everlasting Capital, and Pearl Capital to match funding offers with online sellers who qualify. 

Here’s what you should know about these partners:

  • Kapitus requires a 625 credit score, 2+ years in business, and $250K annual revenue 
  • Everlasting Capital primarily offers MCAs & equipment financing, which are likely high-interest
  • Pearl Capital is a technology partner that probably makes Become’s business analysis possible
Become review

This should give you an idea whether or not it’s worth applying for an eCommerce loan through Become – Keep in mind that the platform will show you personalized areas for improvement if you aren’t currently eligible for financing through one of their partners. 

The BeProfit™ App for Online Sellers  

Next, let me introduce BeProfit: It’s an app that helps you dig deep into your online sales profits, so you’re not just guessing about your financial health.

BeProfit app

BeProfit gets all your expenses, from shipping to discounts, neatly organized in one place. You can quickly spot what’s boosting your profit and what’s dragging it down, so you can make smart decisions.

Plus, it’s super user-friendly. No need to drown in complicated numbers and reports. BeProfit simplifies everything into easy-to-understand reports, giving you more time to focus on growing your business.

Now, is it relevant or right for you? 

BeProfit is available on Shopify, Woo, and Amazon, and costs from $20 to $2000 per month to use (though you can use it for free on Shopify if you have fewer than 5 monthly orders).  

Note: All plans include features related to shipping, discount, products, inventory, marketing, and returns. 

Monthly PriceYearly PriceOrdersShopsFeatures
Basic$20$2402001Profit Dashboard, Custom Expenses 
Advanced$60$7206001Advanced Analytics, 3 Team Members
Pro$120$144012001Retention Analytics, 5 Team Members
Plus (Custom)Starts at $200–UnlimitedUnlimitedDeep Analytics, VIP Support

Please note that the prices mentioned are subject to change, and it’s always a good idea to check the latest pricing for the most up-to-date information.

Industry-Specific Loans

While their offer for online sellers stands out, eCommerce isn’t the only niche that Become caters to. The company is all about helping businesses get the right funding they need. They offer tailored loans for various industries. 

Become business loan

Whether you’re in the hotel business, a contractor, a realtor, or even run a restaurant, they’ve got you covered. Construction companies can find financing options that suit their needs, and the same goes for trucking businesses. It’s like a one-stop-shop for business funding.

What’s cool is that they use technology to match you with the best lender for your specific industry. So, you’re not dealing with a generic loan but one that understands the challenges and opportunities in your field.

Plus, they make it easy to apply, and you can compare offers to choose what works best for your business. So, if you’re in one of these industries and need financing, it might be worth checking out – It’s all about making business funding as simple as walking into a convenience store.

LendingScore™ & MatchScore™  

Before we wrap up, let’s get a quick overview of how LendingScore and MatchScore work.

LendingScore is like a financial fitness tracker for your business. It delves into your financial details, analyzing your credit, income, and history to determine how prepared you are for a loan. Instead of filling out numerous loan applications, LendingScore™ streamlines the process by allowing you to submit just one. Then, it takes on the role of matchmaker, connecting you with top lenders who are more likely to approve your loan application. It’s akin to having a personal coach for your business finances, helping you navigate the world of loans with ease.

On the other hand, MatchScore is your loan cupid. This tool takes your business’s financial profile and starts swiping right on lenders who are a perfect fit. Think of it as a dating app, but for loans! Instead of you scouring the market for lenders, MatchScore does the legwork for you. Its primary goal is to find the loan that aligns perfectly with your business needs. No more blind dates with banks – MatchScore ensures that you and the lender are a match made in financial heaven.

In summary, LendingScore assesses your loan readiness, while MatchScore acts as your personal loan matchmaker. With these handy tools, you can navigate the loan application process effortlessly and discover the ideal financing option that suits your business like a glove. 

Frequently Asked Questions

Can you get a loan for eCommerce?

Yes, you can get a loan for your eCommerce business. Many lenders offer small business loans for eCommerce, like Become and Stripe Capital.

Can you do eCommerce with no money down?

It’s tough but possible. Consider options like drop shipping or print-on-demand, where you don’t need upfront funds for inventory. And, some people who don’t want to pay to host a website, sell manually on Instagram, Facebook Marketplace, and Craigslist.

How to get a loan to start an eCommerce business?

To get an eCommerce loan, prepare a solid business plan, demonstrate your ability to repay, and find a lender that fits your needs.

How much money do you need for eCommerce?

The amount varies, depending on your niche and plans. Costs can include website development, inventory, and marketing.

Do you need a lot of money to start eCommerce?

Not necessarily. Many start small and reinvest profits to grow over time. Careful planning can help you start with a lean budget.

Conclusion

So, is Become the real deal or just a bunch of hype? 

My opinion: it appears to be a promising financial optimization and funding platform for SMBs – Their tailored funding solutions and the positive Trustpilot reviews are strong indicators of their effectiveness in helping businesses grow.

However, as with any financial service, you need to do your due diligence and thoroughly assess whether Become’s offer aligns with your needs, and if it’s necessary. 

So, do you prefer convenience or control – In my opinion, Become is one of the most convenient business funding offers out there, but it doesn’t give SMBs the ultimate control over their finances. 

Would you be better off to raise money through Kickstarter, explore an offer like Fund&Grow or Lendcred…or build your business credit and hand-pick the offers you want to apply for?  


Want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today.

How to Find Aged Shelf Companies for Sale +Why Buy Them? 

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aged shelf companies for sale

Looking to get into the world of aged shelf companies? You’re in the right place! Aged shelf companies, also known as blank check companies or ready-made businesses, are like the fine wine of the business world – they’ve been sitting on the shelf, waiting for the perfect moment to shine. 

In this guide, we’ll take you on a journey through the ins and outs of aged shelf companies, from what they are to where to find them.

Here’s what’s in store: 

Now, let’s get to it! 

What are Aged Shelf Companies?

aged shelf company definition

Also known as blank check companies, ready-made companies, or simply “aged” companies, aged shelf companies are registered entities that have had no activity. Think of it as setting your business on a shelf to age like a bottle of wine. 

Like wine, when the right conditions are met, a business can improve when aged. Except, rather than enhance the flavor, a shelved company establishes corporate history and, when opened, can expedite business processes. 

Note: Shelf companies are not to be confused with “shell corporations,” which are typically empty entities used for concealing ownership, avoiding taxes, or engaging in illicit activities.

What are the Characteristics of a Shelf Company? 

In a nutshell, aged shelf companies have been around for several years or more, often decades, and remain inactive since their creation. They have a clean financial and operational history, with no debts or liabilities.

Now, let’s find out how much a shelf corporation costs and the considerations involved. 

How Much Does a Shelf Corporation Cost? 

So, how much does it cost to snag one of these shelf corporations? Well, it’s kind of like buying anything vintage – the price can vary, and it depends on several factors:

  1. Older shelf corporations tend to cost more because they’ve got that longer corporate history going for them.
  2. Where it’s registered matters. Some places have higher fees and maintenance costs.
  3. The person or entity selling the shelf corporation sets the price – It can be influenced by demand and what extras they throw in.
  4. Some sellers offer stuff like help with transferring ownership or handling compliance, which can affect the price tag.
  5. If the company’s got a snazzy name or a certain legal structure, that can drive up the cost. 
  6. Sometimes, you get additional documents like articles of incorporation or organization and credit reports, which can bump up the price. 
  7. The demand for shelf corporations in a particular area or industry can make the prices go up or down. 

See: Low-Risk NAICS Codes +Best SIC Codes for Business Credit

Prices can range from a couple hundred bucks up to ten grand, so do your homework – think about what you need and make sure to check for any hidden surprises before you dive in! 

Why Buy an Aged Shelf Corporation? 

What is the meaning of a shelf company benefits

Now, let’s talk about why some folks choose to snag an aged shelf company—it’s kind of like thrift shopping for businesses.  

Here’s why you might want to buy one:

  • Instant street cred – These old-timers have been around the block for a while, so your business looks legit right from the start. Customers and partners might trust you more.
  • Skip the line – Instead of waiting in line to set up a brand-new business, you can waltz right in with a shelf company. Quick and easy, no fuss.
  • Grab opportunities – Sometimes, to get certain contracts or loans, you need a business with a bit of history. Shelf companies meet those requirements with style.
  • Borrowing made easy – If you need cash, lenders often prefer companies with a few years under their belt. With an established business, getting business credit can be smoother.
  • Blink and You’re In – Expanding your business into new markets? A shelf company can help you jump through those legal hoops faster.
  • Name Game – If the shelf company has a cool name, you can use it without the hassle of registering a new one.
  • Tailor-Made – When you choose a shelf company that fits your business strategy, it’s like a ready-made suit, but for your business.

Next, let’s look at what you can do with them. 

Recommended: This is How to Leverage Business Credit to Transform Your Life 

What do People Do With Shelf Companies?

So, what’s the deal with shelf companies? Well, folks use ’em for all sorts of reasons.

Imagine you’re in a hurry to kickstart a business or snag some sweet contracts. A shelf company’s like a shortcut because it’s been around for a while, making your new venture look trustworthy right from the get-go. Plus, if you need loans or want to expand into new markets, having a seasoned business can make things way smoother. You can also protect specific assets or use a snazzy business name without the usual hassles.

Maybe you’re already working a business, but you’re unincorporated. An aged shelf company offers a nice way to slide right into the 

But here’s the catch: before you take the plunge, do some digging. Not all shelf companies are the same, so be sure to check for any hidden surprises. 

How to Find Aged Shelf Companies for Sale

Where to find aged shelf companies

State Secretary of State (SOS) offices typically maintain records of registered business entities, including corporations and LLCs. 

However, while you can find information about existing businesses and their registration status through the SOS office, you typically won’t find aged shelf companies specifically listed for sale in these government databases.

Aged shelf companies are usually sold by individuals or businesses in the private sector, often through business brokers, legal and financial services, online marketplaces, or other commercial channels. 

If you’re interested in purchasing an aged shelf company, you would typically need to search for listings or consult with professionals and businesses that specialize in providing aged shelf companies for sale. These sellers acquire and maintain shelf companies and then offer them for purchase to individuals and businesses seeking to expedite the startup or expansion of a new venture.

Finding aged shelf companies for sale can be relatively straightforward with the right approach. Here’s how to go about it.

Certainly, let’s break down how to use each channel to secure an aged shelf company, along with the pros and cons of each approach:

1. Online Business Brokers

Numerous online business broker websites specialize in selling aged shelf companies. These platforms list various aged corporations available for purchase, complete with details about their age, location, and price. You can search and filter listings to find the one that suits your needs.

  1. Visit reputable online business broker websites like Corporations Today Inc. or BSC & Associates.
  2. Seek out aged shelf companies that match your criteria.
  3. Review listings, including details on age, location, and price.
  4. Contact the broker to express your interest and inquire about the purchase process.

Pros:

  • Wide selection of shelf companies.
  • Detailed listings with essential information.
  • Broker assistance with the purchase process.
  • Potential for competitive pricing.

Cons:

  • Broker fees may apply, increasing the overall cost.
  • Limited opportunity for direct negotiations with the seller.

Some law firms and financial services companies offer aged shelf companies as part of their services. They can provide guidance on the purchase process, ensure legal compliance, and help with the transfer of ownership.

  1. Consult law firms or financial service providers like Companies Incorporated or AmeriLawyer that offer aged shelf companies.
  2. Discuss your specific needs and budget with the service provider.
  3. Review available shelf companies in their inventory.
  4. Work with the service provider to complete the purchase and transfer of ownership.

Pros:

  • Expert guidance on legal compliance.
  • Streamlined purchase process.
  • Assistance with ownership transfer.
  • May include additional services such as registered agent services.

Cons:

  • Costs may be higher due to bundled services.
  • Limited selection compared to online listings.

3. Business Directories

You can check business directories or databases for companies that offer shelf corporations. Look for contact information and inquire about their available inventory.

  1. Explore business directories or databases.
  2. Identify companies offering shelf corporations for sale.
  3. Contact the companies directly to inquire about available aged shelf companies.

Pros:

  • Direct access to potential sellers.
  • May find local options easily.
  • Direct communication with the seller.

Cons:

  • Limited information available in directories.
  • May require extensive outreach and research.
  • Limited selection compared to specialized platforms.

4. Networking

Connect with entrepreneurs, business consultants, or professionals in your industry who may have knowledge of or access to shelf companies for sale. They might provide valuable recommendations or leads.

  1. Network with entrepreneurs, business consultants, or industry professionals.
  2. Share your interest in acquiring a shelf company.
  3. Seek recommendations or referrals from your network.

Pros:

  • Personalized recommendations.
  • Potential for insider information.
  • Trustworthy referrals from known contacts.

Cons:

  • Networking may take time.
  • Reliance on others to provide leads.
  • Limited control over the selection process.

5. Online Marketplaces

Explore online marketplaces like eBay or Flippa, where sellers occasionally list aged shelf companies for sale. Be sure to conduct due diligence and verify the legitimacy of the seller and the company being offered.

  1. Search online marketplaces like eBay for aged shelf companies.
  2. Review listings, including seller ratings and descriptions.
  3. Contact the seller to discuss the purchase.

Pros:

  • Accessibility to a wide audience.
  • Opportunity to negotiate directly with the seller.
  • Transparency through ratings and reviews.

Cons:

  • Limited availability of shelf companies.
  • May encounter less reputable listings.
  • Need for thorough due diligence on sellers.

6. Legal Notices

Check local or national legal publications or government websites for any notices about companies being offered for sale – This might lead you to aged shelf companies available in your jurisdiction.

  1. Check local or national legal publications or government websites for notices about companies for sale.
  2. Contact the parties offering shelf companies.
  3. Inquire about the available options.

Pros:

  • Potential to find local opportunities.
  • Information often publicly available.

Cons:

  • Limited listings.
  • May not be actively updated.
  • Limited details in legal notices.

7. Industry Conferences & Events

Attend industry-specific conferences, trade shows, or business events. You may come across vendors or experts who offer aged shelf companies as part of their services.

  1. Attend relevant industry conferences, trade shows, or events.
  2. Network with vendors or experts in the field.
  3. Inquire about any aged shelf companies they may offer.

Pros:

  • Direct access to industry-specific opportunities.
  • Face-to-face interactions for building trust.

Cons:

  • Limited availability during specific events.
  • May not align with your timeline.

8. Business Associations

Join business associations or chambers of commerce related to your industry. Members often share information and resources, including opportunities to purchase shelf companies.

  1. Join industry-related business associations or chambers of commerce.
  2. Engage with fellow members and express your interest.
  3. Seek information or leads from association members.

Pros:

  • Networking within your industry.
  • Trustworthy referrals from association members.

Cons:

  • Reliance on the association’s network.
  • May require time for connections to develop.

9. Online Forums and Classifieds

Participate in online forums, classified ad websites, or social media groups like Reddit r/business where businesses are discussed, bought, and sold. Some individuals or companies may advertise aged shelf companies there.

  1. Participate in relevant online forums, classified ad websites, or social media groups.
  2. Engage with members and express your interest in purchasing a shelf company.
  3. Inquire about any listings or opportunities available.

Pros:

  • Direct access to potential sellers.
  • Informal and open communication channels.
  • Potential for unique opportunities.

Cons:

  • Limited oversight, requiring thorough due diligence.
  • May encounter less reputable listings.
  • Time-consuming to filter through various sources.

When searching for aged shelf companies, always exercise caution and conduct thorough due diligence.

How to Protect Yourself From a “Bad” Shelf Company

So, before you buy an aged shelf company, you want to make sure you’re not getting a lemon, right? 

WY SOS Business Search

Here’s what you should do:

  • Check the articles – Look at the company’s articles of incorporation or organization. Make sure they match up with what you want to do with the business.
  • Review financial records – If you can, get your hands on financial statements. You’ll want to know if the company’s in good financial shape – It should have no debt. 
  • Verify ownership transfer – Ensure the ownership transfer process is legit and filed with the authorities. Get clear documentation of the transfer signed by both parties.
  • Legal documents – Check if there are any undisclosed legal issues or obligations lurking in the company’s records. And make sure the registered agent and address are up-to-date.
  • Credit package – If applicable, review any credit packages associated with the shelf company to understand any existing credit lines or financing agreements.

By going through these documents, you’ll have a better idea of what you’re getting into and can avoid any nasty surprises down the road. Be sure to verify the authenticity of the seller, review all of the company’s history and records, and consult legal and financial experts to ensure a smooth and secure transaction.

FAQ

Why do shelf companies exist?

Shelf companies are like prepped-up businesses waiting for action. They exist for folks who want to skip the startup hassle and dive into business with a history.

Do shelf companies pay taxes?

Yup, they’re not tax-free. Shelf companies, like any other business, need to pay taxes based on their income and location (if they have no income, their tax obligation would likely be $0).

Can you register a business in a state where you don’t live?

Absolutely! You can register a business in a state where you’re not living. It’s common for folks to do this to tap into specific business advantages or markets. But, if you are active in your home state, the business may need to be registered there as well. 

Should you buy a shelf corporation?

Well, it depends on your needs. If you want a head start and a business with history, it’s an option. But, always do your homework and make sure it’s the right fit for your goals.

Final Thoughts

So, there you have it – the lowdown on aged shelf companies, from what they are to why you might want to buy one and how to protect yourself from any surprises. Whether you’re looking to kickstart a business with instant history or expand your current venture, aged shelf companies offer a unique shortcut. 

But remember, it’s all about doing your homework, verifying the details, and making sure it’s the right move for your entrepreneurial journey. Cheers to your future business success!

Want to learn how to get up to $100K in business credit? Join Business Workshop today.

How to Raise Money for Real Estate Investment: A Beginner’s Guide

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How to raise money for real estate

Real estate is filled with lucrative opportunities. But, before you can reap the rewards, you need funds…Sometimes, you can do it all on your own. But, to make sizable investments, most people need to raise money.

The good news is, anyone with the right information can do it. My goal is to make fundraising easy to understand for everyone. Whether you’re a pro or just starting out, here, you’ll find the fundamentals you need to raise money for real estate investing.

Here’s what’s in store: 

Now, let’s get it! 

Recommended: This is How to Leverage Business Credit to Transform Your Life 

Real Estate Ventures and Capital

Before we delve into the nitty-gritty of raising capital, it’s crucial to understand the fundamentals. 

You can invest in various types of properties, like single-family homes, towering skyscrapers, apartment buildings, senior living communities, medical facilities, shops, factories, and warehouses. 

The two main types of real estate are: 

  • Residential real estate
  • Commercial real estate

Real estate ventures, whether residential or commercial, require significant investment. This capital is essential for property acquisition, development, maintenance, and generating returns.

Residential Real Estate

How to raise money for real estate investment

Residential real estate refers to properties that are designed and used for housing purposes. These properties are where people live, such as houses, apartments, condominiums, townhouses, and vacation homes. Residential real estate is typically divided into four main categories:

  • Single-family homes are stand-alone houses designed for a single family to live in. They come in various sizes and styles, from small cottages to large estates.
  • Multi-family homes include duplexes, triplexes, and apartment buildings. They provide housing for multiple families within a single structure.
  • Condominiums (condos) are individual units within a larger building or complex. Residents own their individual units and share common areas and amenities.
  • Townhouses are usually multi-story properties with shared walls between units. Each unit has its own entrance, and residents own both the interior and exterior of their unit.

Investors in residential real estate often focus on renting or selling these properties to individuals or families for residential purposes. The residential real estate market can be influenced by factors such as location, demand, economic conditions, and interest rates.

Commercial Real Estate

How to raise capital for commercial real estate

Commercial real estate is what we call the properties that are used for business and commercial purposes – It includes a wide range of property types, catering to various industries and needs. Some common types of commercial real estate include:

  • Office buildings are used for office spaces, ranging from small business offices to large corporate headquarters.
  • Retail spaces are designed for businesses to sell products or services to consumers. They can include shopping centers, malls, standalone stores, and restaurants.
  • Industrial properties include warehouses, manufacturing facilities, distribution centers, and industrial parks. These properties are essential for logistics and production.
  • Hospitality properties are hotels, motels, resorts, and other buildings that provide accommodations and services to travelers and tourists.
  • Special-use properties serve unique purposes – Think healthcare facilities, educational institutions, religious buildings, and entertainment venues.

Investing in commercial real estate often involves leasing properties to businesses or organizations. Commercial property values can be influenced by factors like location, accessibility, lease terms, and economic conditions.

Real Estate Capital

How to raise money for real estate investing

Real estate capital refers to the financial resources needed to invest in real estate properties. Capital is needed to purchase, develop, maintain, and operate real estate assets. 

Various sources of real estate capital include:

  1. Equity capital comes from the property owner’s investment or ownership stake. It includes personal savings, investments, or contributions from partners or investors.
  2. Debt capital involves borrowing money to finance real estate investments. Common sources include mortgages, loans, and lines of credit from banks, financial institutions, or private lenders.
  3. Private capital can come from individual investors, family and friends, or private equity firms interested in real estate investments.
  4. Public capital can be raised by real estate companies through initial public offerings (IPOs) or by issuing real estate investment trusts (REITs) in the public market.
  5. Government capital comes from entities that may provide grants, subsidies, or incentives to support real estate development projects that align with public policy objectives.

Effective capital management is the cornerstone of real estate investing because it impacts the ability to acquire and maintain properties, generate rental income, and achieve desired returns on investment (ROI). 

Real estate capital strategies tend to vary depending on your objectives and the type of real estate you target. Let’s take a look at some strategies you can use. 

Recommended: The BRRRR Method: A Real Estate Portfolio-Building Blueprint 

Ways to Raise Real Estate Capital

Are you ready to dive into the world of real estate capital and explore various methods to kickstart your real estate journey? Let’s break down each strategy, providing a succinct definition, highlighting the benefits, outlining the risks, and guiding you on how to obtain each type of real estate capital.

1. Business Credit

How to raise money for real estate investments

Business credit involves using your company’s credit history and financial strength to secure loans or lines of credit for real estate investments using methods.

Benefits:

  • Separates personal and business finances.
  • Can provide significant capital for real estate endeavors.
  • May offer competitive interest rates and terms.

Risks:

  • Requires a strong business credit profile.
  • Defaulting on loans can harm your business credit.
  • Interest rates and terms may vary based on creditworthiness.

How to get business credit:

  1. Establish and build a solid business credit history.
  2. Maintain a good payment history with net 30 vendors and creditors.
  3. Apply for business credit cards and loans.

Recommended: 

2. Home Equity

How to raise money for commercial real estate

Home equity represents the portion of your home’s value that you own outright, which can be leveraged as capital for real estate investments.

Benefits:

  • Access to a substantial source of capital.
  • Potential for competitive interest rates.
  • Can be used for various real estate projects.

Risks:

  • Tied to your home’s value, subject to market fluctuations.
  • Defaulting on home equity loans risks foreclosure.
  • Reduces your ownership stake in your primary residence.

How to Unlock Home Equity:

  1. Determine your home’s current value.
  2. Calculate your available equity.
  3. Apply for a home equity loan or line of credit.

Recommended: Should You Use a Real Estate Investor Line of Credit? 

3. Peer-to-Peer Loan

Raising private money for real estate investing

Peer-to-peer lending platforms connect real estate investors with individual or institutional lenders, allowing them to borrow funds for their projects.

Benefits:

  • Access to a wide network of potential lenders.
  • Competitive interest rates.
  • Streamlined application process.

Risks:

  • Varying lending criteria among platforms.
  • Potential higher interest rates for riskier borrowers.
  • Limited control over the selection of lenders.

How to access peer-to-peer loans:

  1. Research peer-to-peer lending platforms.
  2. Create a compelling loan request.
  3. Connect with potential lenders on the platform.

Recommended: Alternative Ways for Entrepreneurs to Raise Capital from Online Lenders

4. Private & Hard Money Lenders

How to raise capital to buy real estate with none of your own money

Private and hard money lenders are individuals or organizations that provide real estate loans, often with less stringent requirements than traditional banks.

Benefits:

  • Faster approval and funding compared to traditional lenders.
  • Flexible lending criteria, making them accessible to investors with lower credit scores.
  • May offer loans for various real estate projects.

Risks:

  • Higher interest rates and fees.
  • Shorter repayment terms.
  • Collateral may be required.

How to get private & hard money loans:

  1. Network with local real estate investment groups.
  2. Research and approach private lenders or hard money lending firms.
  3. Prepare a solid business plan and property details to present to lenders.

Recommended: A Review of Alpha Funding Partners – Are Their Solutions Right for You? 

5. Self-Directed Accounts

How to invest $100 000 dollars in real estate

Self-directed accounts, such as self-directed IRAs and 401(k)s, can enable you to invest your retirement savings into real estate assets. 

Benefits:

  • Potential for tax advantages within retirement accounts.
  • Diversification of retirement portfolio.
  • Control over real estate investment decisions.

Risks:

  • Strict IRS rules and regulations to follow.
  • Potential for penalties if not compliant with tax rules.
  • Limited access to funds until retirement age.

How to use self-directed accounts:

  1. Set up a self-directed IRA or 401(k) with a qualified custodian.
  2. Identify suitable real estate investment opportunities.
  3. Ensure compliance with IRS regulations and rules.

6. Wholesaling

How to make money in real estate with $5000

Wholesaling involves finding real estate deals at a discount and assigning the contract to another buyer for a fee, often requiring minimal upfront capital.

Benefits:

  • Low initial investment is required.
  • Quick turnaround for profits.
  • Opportunity to gain valuable experience in real estate.

Risks:

  • Highly competitive market.
  • Requires strong negotiation and deal-finding skills.
  • Success is not guaranteed for every deal.

How to start wholesaling:

  1. Build a network within the real estate industry and research auction options.
  2. Identify distressed properties or motivated sellers.
  3. Negotiate favorable purchase contracts and assign them to buyers.

7. Crowdfunding & Syndication

Raising money for real estate syndication

Crowdfunding platforms allow multiple investors to pool their capital into a real estate project, while syndication involves pooling funds under the leadership of an experienced sponsor.

Benefits:

  • Access to diverse real estate projects.
  • Lower investment thresholds.
  • Limited liability for individual investors.

Risks:

  • Project success depends on the sponsor’s expertise.
  • May require due diligence on crowdfunding platforms.
  • Returns may vary based on project performance.

How to Use Crowdfunding & Syndication:

  1. Research crowdfunding platforms or syndication opportunities.
  2. Evaluate project details, sponsor track record, and investment terms.
  3. Invest in projects that align with your goals.

8. FHA & USDA Mortgages

FHA & USDA Mortgages for real estate fundraising

FHA loans (3.5% down) and USDA loans (0% down) are government-backed mortgages for residential and agricultural (you don’t necessarily have to buy a farm as long as the location is rural) real estate investments. The kicker is that the down payments are low or non-existent and interest rates are lower than conventional loans. You might hear FHA mortgages referred to as “first-time homebuyer loans.” 

Benefits:

  • Low or no down payment requirements.
  • Accessible to first-time investors.
  • Competitive interest rates.

Risks:

  • Limited to owner-occupied properties (can be used for 1-4 unit properties if you occupy one unit).
  • Mortgage insurance is required.
  • Stricter property condition requirements.

How to qualify for FHA investment loans:

  1. Meet credit score and income requirements for local homebuying programs.
  2. Choose an eligible property type.
  3. Complete the FHA loan application process.

Recommended: Can You Pay a Mortgage with a Credit Card? The Answer is… Complicated 

How to legally raise private money

You need to comply with all local, state, and federal laws. Not all statutes are common knowledge. If this is where you’re headed, before we wrap up, I want to point out a couple of SEC regulations that might apply to you when you raise funds for real estate. 

Regulation D Rule 506(b) and Regulation D Rule 506(c) are two exemptions provided by the U.S. Securities and Exchange Commission (SEC) that allow private companies to raise capital from investors without having to register their securities offerings with the SEC. 

Both exemptions are commonly used in the world of real estate investing and apply to anyone who offers securities in exchange for investing in a venture – So, if you will offer investors some sort of return on investment, pay attention. 

Here’s a simplified breakdown of what you need to know about Regulation D Rule 506(b) and Regulation D Rule 506(c), so that you can choose the right one for your situation.

Regulation D Rule 506(b):

  • You can raise money from both wealthy and regular investors (up to 35 regular ones).
  • You can’t openly advertise your investment opportunity to the public. You can only share it with people you already know or have a relationship with.
  • You don’t have to do much to check if an investor is wealthy. They can just tell you, and you trust them.

Regulation D Rule 506(c):

  • You can only raise money from wealthy investors (no regular ones).
  • You can openly advertise your investment opportunity to anyone, even on the internet or social media.
  • You must carefully check if investors are truly wealthy by asking for proof like tax returns or statements from their bank or broker.

Under both rules, you need to fill out some paperwork (Form D) and send it to the government.

In simple terms, Rule 506(b) lets you raise money from a mix of rich and regular people but limits how you can advertise. Rule 506(c) is for raising money only from wealthy folks, but you can tell everyone about it. 

Choose the one that fits your needs and follow the rules to stay out of trouble with the government. Always consider seeking legal advice or consulting experts when navigating these regulations in your real estate investment journey.

(If you use your own business credit to invest in real estate, you don’t have to worry about SEC regulations because you’ll be the one to receive all of the profits.)

Recommended: Low-Risk NAICS Codes +Best SIC Codes for Business Credit in 2023 

Frequently Asked Questions

How do you structure raising money for real estate?

Consider partnerships, LLCs, REITs, syndications, private loans, and crowdfunding to structure real estate investments.

Sole Proprietorship VS LLC: How to Choose Your Entity Wisely 

How to raise money to buy real estate with none of your money?

Explore strategies like wholesaling, seller financing, partnerships, hard money loans, and lease options to minimize upfront capital.

What is the fastest way to build wealth in real estate?

Quick wealth in real estate can come from the BRRRR method, flipping, leveraging mortgages, commercial real estate, real estate development, and short-term rentals.

What part of real estate is most profitable?

Commercial real estate, multifamily properties, real estate development, short-term rentals, and real estate syndication tend to offer high profitability.

How does real estate make the most millionaires?

Real estate creates millionaires through property appreciation, rental income, leverage, tax benefits, and portfolio diversification.

Conclusion

Raising money for real estate investment may seem daunting, but armed with the knowledge and strategies from this guide, you’re well on your way to achieving your financial goals. 

These strategies offer various avenues to raise real estate capital, each catering to different investment preferences and financial situations. Choose the approach that aligns with your goals, and always conduct thorough research and due diligence before making any investments.

Remember, the path to real estate success begins with that first step. So, embrace the possibilities, start raising capital, and turn your real estate dreams into reality. Happy investing!

→ Want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today.

What Are the Best Security Cameras for Businesses? 

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Best Security Cameras for Business

Can we talk about the crazy evolution the security industry has gone through recently? When you upgrade your security cameras, it’s like going from an old bicycle with training wheels to a turbocharged motorcycle that can navigate traffic and take you on epic cross-country adventures.

Today, with a new system, you can monitor your facilities from anywhere using your phone or laptop. 

Whether you’re rocking a small coffee shop or running a mega-corporation, nailing down the right security cameras is like having your own fortress – it shields your assets, your staff, and your space. 

Let’s learn how to pick out the slickest security cams for your business. 

Here’s what’s in store: 

Ready to roll?

Why Do Businesses Need Security Cameras?

Business security is more than just a padlock on the front door. 

Security cameras offer several advantages:

  • Deter crime –  Conspicously-placed cameras and signs deter intruders, thiefs, and vandals from targeting your business.
  • Document incidents – Camera footage is valuable evidence for any investigations, insurance claims, and legal proceedings.
  • Protect staff –  Monitoring the work environment helps ensure employee safety and prompt response to emergencies.
  • Monitor remotely – With remote monitoring, you can keep an eye on your operations from anywhere at any time.

What is the difference between home and commercial security cameras? 

Home security cameras and commercial security cameras are designed for the specific needs of the end-user. 

Home Security Cameras:

  • Are tailored for residences and smaller spaces
  • Emphasize easy installation and operation
  • Include motion detection, night vision, and mobile app access
  • Prioritize aesthetics for seamless integration into homes

Commercial Security Cameras:

  • Are engineered for businesses and larger areas
  • Offer advanced features like customizable motion zones
  • Are designed to withstand harsh environments and weather
  • Are scalable for businesses of all sizes
  • Can integrate with access control and alarm systems

While both types of security systems protect property, they differ in scale, features, durability, and complexity – But, you may be able to use business and consumer systems interchangeably based on need. 

Recommended: How to Use Business Gas Cards to Build Your Business Credit 

How to Choose the Best Security Cameras

When it comes to choosing the best security cameras for your business, you’ll want to look at the following features:

  1. Camera types – Dome cameras, bullet cameras, and PTZ (pan-tilt-zoom) cameras have distinct features and are suited for specific monitoring needs.
  2. Indoor vs. outdoor cameras – Determine whether you need cameras for indoor or outdoor monitoring, or a combination.
  3. Resolution and clarity – Opt for cameras with high-resolution (1080p or higher) for clear and detailed image quality.
  4. Low-light and night vision – If you need to monitor during nighttime hours, look for cameras equipped with good low-light performance and/or infrared night vision.
  5. Wide-angle coverage – Consider cameras with a wide field of view to cover larger areas with fewer devices.
  6. Power options – Choose between wired and wireless cameras based on the availability of power sources and your preferred installation method (I upgraded from Google Nest to Arlo, because it seemed like I had to charge the Nest too often). 
  7. Remote access and alerts – Get a system that offers remote access through mobile apps or web browsers, and customizable alert notifications for real-time updates.

Recommended: Here’s How to [Actually] Get Business Credit With Just an EIN 

Top Picks for Business Security Cameras

In the quest to beef up my security system, I decided to turn to the good folks over at Reddit for some guidance. With approximately 10 cameras to handle and a need for continuous 24/7 recording that’s easily searchable and downloadable, I wanted some practical advice.

Reddit delivered, and three names kept popping up in the conversation: Arlo, Ring, and Nest (now Google Nest). These brands seemed to offer promising solutions, and I’m about to break down why they stood out.

I used to use Nest, but I felt like I had to charge the cams too often. 

Here, I’ll explore why one of these cameras could be just what your business needs. I’ll dig into their cool features, discuss how they fit into a business setup, and give you the lowdown on making the right choice to keep your premises secure. 

So, grab a coffee, and let’s chat about Arlo, Nest, and Ring security cameras!

1. Arlo Pro 4 Security Cameras

Best wireless security camera system for business

Arlo Pro 4 cameras are the go-to for convenience. They’re wireless, run on a rechargeable battery (no need for power outlets), and offer crisp 2K resolution. Wide-angle coverage and enhanced night vision keep an eye on things 24/7. You can monitor remotely with the Arlo app, get motion alerts, and even have two-way chats.

Wireless Wonder – If hassle-free installation is your thing, Arlo Pro 4 cameras are a dream. They go wireless, powered by a rechargeable battery, making them perfect for businesses without nearby power outlets. No need to fuss with wires.

Crystal Clear – These cameras come with 2K resolution, which means sharp and detailed footage. Their wide-angle coverage ensures you won’t miss a thing, and even when the sun goes down, enhanced night vision keeps a watchful eye.

Pros:

  • Hassle-free wireless installation.
  • Crisp 2K resolution.
  • Wide-angle coverage.
  • No constant power required.

Cons:

  • Slightly higher initial cost.

2. Google Nest Cam IQ

Best 4K security camera system for business

Google’s Nest Cam IQ Outdoor is all about premium quality. It rocks a 4K sensor, HDR imaging, and facial recognition tech. Tough enough for the outdoors, it’s got smart motion detection zones. It does need steady power, but the features and reliability make it worth considering.

Top-Tier Video – Google Nest Cam IQ Outdoor is for those who demand the best. It flaunts a 4K sensor and HDR imaging, guaranteeing top-notch video quality. When it comes to recognizing faces, it’s got that covered too.

Built Tough – This camera is designed to take on the great outdoors. Rain or shine, it can handle it. Plus, its advanced motion detection with customizable zones ensures you only get alerts when it matters.

Pros:

  • Stunning 4K video.
  • Facial recognition.
  • Weather-resistant.
  • Smart motion detection.

Cons:

  • Requires a consistent power supply.

3. Ring Outdoor Security Kit

best outdoor security camera system for business

The Ring Outdoor Security Kit is a powerhouse. It includes indoor/outdoor cameras, doorbell cameras, and a base station. You’ll get real-time alerts, two-way chats, and it plays nice with the Ring app. Each component may have different specs, but together, they create a solid security setup.

All-in-One – The Ring Outdoor Security Kit is like a security buffet. It serves up indoor/outdoor cameras, doorbell cameras, and a base station. It’s a comprehensive solution that covers all the bases.

Pros:

  • A complete security kit.
  • Indoor/outdoor and doorbell cameras.
  • Instant alerts and two-way communication.
  • Works smoothly with the Ring app.

Cons:

  • Features may vary depending on the component.

Recommended: 6 Best Business Credit Cards for Entrepreneurs

So, there you have it—three fantastic options, each with its own strengths and quirks. Your choice will depend on what fits your business like a glove. Let’s dive deeper into each option to help you make the right call and keep your business secure around the clock.

Bonus: Secure Camera Installation Tips

When possible, put your cameras on the ceiling. This way, they’re not easy to see, and it’s tough for anyone to mess with them.

If you can’t mount cameras on the ceiling, mount them up high, where people can’t reach them without permission. This keeps them safe from tampering.

Next, hide the wires that connect the cameras. This stops anyone from messing with them or causing problems.

If it makes sense, use protective boxes or enclosures to keep your cameras safe. It’s like putting them in a sturdy, locked box to protect them from any harm.

By following these simple steps, you can make sure your cameras stay safe and do their job without any trouble.

Frequently Asked Questions

What are the best security cameras for a small business?

The best security cameras for small businesses vary based on your specific needs. Options like the Arlo Pro 4, Google Nest Cam IQ Outdoor, and the Ring Outdoor Security Kit offer impressive features, such as wireless installation, high-resolution video, and advanced motion detection. It’s essential to consider factors like indoor/outdoor use, power sources, and remote access before making a decision.

Which security cameras have the best quality?

The Google Nest Cam IQ Outdoor, Arlo Pro 4 are known for their high-quality video and advanced features. Ring is known for its user-friendliness, but offers competitive quality. All of them offer superior image resolution and HDR imaging for awesome video quality.

Which security company has the best outdoor cameras?

Several companies offer top-notch outdoor security cameras. Google Nest, Arlo, and Ring are among the brands known for their quality outdoor camera options, each with its unique features and benefits.

What's the difference between surveillance cameras and security cameras?

The terms “surveillance cameras” and “security cameras” are often used interchangeably, but they can have nuanced differences – Security cameras are designed to monitor specific areas for security purposes, while surveillance cameras can include a broader range of applications, such as traffic monitoring or general observation.

How many security cameras do I need for my business?

The number of security cameras needed depends on the size and layout of your business. Conduct a thorough assessment of your premises, identifying critical areas that require monitoring, such as entrances, exits, and high-traffic zones. Consulting with security professionals can help you determine the optimal camera placement and quantity.

Can you write off security cameras for business?

In most cases, security cameras are considered a legitimate business expense and may be tax-deductible. However, tax regulations vary by location and business specifics. Consult a tax professional or accountant to understand any deductions applicable to your situation.

Recommended: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors] 

Conclusion

In the ever-evolving landscape of business security, selecting the right camera system is akin to finding the perfect puzzle piece to complete your safety strategy. Arlo Pro 4, Google Nest Cam IQ Outdoor, and Ring Security Cameras are just a few of the best options available to safeguard your business.

Whether you’re drawn to Arlo’s wireless convenience, Google Nest’s high-tech intelligence, or Ring’s user-friendly approach, each choice represents a powerful tool in your hands. By considering factors such as camera type, resolution, power options, and integration capabilities, you’re setting the stage for comprehensive protection that aligns seamlessly with your business needs.

With the resources to invest in advanced security solutions such as upgraded camera systems, intrusion alarms, fencing, and barriers, you’ll fortify your business against potential threats.

→ Join Business Credit Workshop today to unlock up to $150K in business credit in as few as 30 days and take a confident step towards a safer, more secure business environment.

6 Best Fintech Credit Cards to Apply for (Consumer & Business)

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best fintech credit card

Are you an individual considering a slick, new way to use credit? Or, a business owner looking to supercharge your finances with the perfect fintech credit card? Look no further! 

Here, we’ll dive into the exciting world of fintech credit cards, introducing you to top contenders like Divvy, CredAI (the illustrious Unicorn Card), Bluevine, Stripe, Ramp, and Brex – essentially free credit cards for everyone. 

Fintech is making credit cards weirder, but also a lot more fun…Whether you’re a student or seasoned entrepreneur, you can navigate the fintech card landscape, making sure you’re armed with the right knowledge to make the best decision for your situation. 

Here’s what’s in store: 

Now, let’s get crackin! 

What is a Fintech Credit Card?

In simple terms, a fintech credit card combines the innovation of financial technology (fintech) with the convenience and power of credit cards. Fintech credit cards often come with unique features, competitive rates, and advanced tools that empower business owners to manage their finances efficiently.

Explore the 6 Best Fintech Credit Cards

Let’s take a closer look at some of the leading fintech credit cards that are revolutionizing the way individuals and business owners manage their finances. 

1. Brex – Your Stealthy Fintech Ally

fintech credit card processing

For: Businesses seeking a free corporate card

The Brex Corporate Card is an enticing choice for businesses seeking a no-personal-guarantee credit card with rewards. The card, issued through Brex’s financial operating system, caters to tech, life sciences, and eCommerce companies. I

t’s characterized by its absence of annual fees, interest charges, and personal credit checks. Instead, creditworthiness is determined based on the company’s likelihood to repay funds. Brex offers various account options, including Cash, Card, and Cash & Card, tailored to different financial needs.

The card boasts rewards such as up to 30K bonus points, points per dollar spent, and partner perks, including discounts with industry giants like AWS, Slack, and Google Ads. With a focus on expense management, the card offers real-time tracking tools, virtual cards, and expense automation. Qualification requires a US-based business with an EIN and a business bank account.

Learn more: Brex Card Review: Is This Corporate Card Offer Too Good to be True? 

2. Divvy – The Power Credit Card

fintech credit builder

For: Business owners

Divvy is not just a business credit card; it’s a comprehensive financial solution tailored for businesses of all sizes. With Divvy’s innovative features, you gain access to budgeting tools, virtual cards, and enticing rewards. 

This high-tech card isn’t just a piece of plastic; it’s a gateway to efficient expense management, AP automation, and seamless spending control. Divvy’s user-friendly platform empowers businesses to allocate budgets, set spending limits, and automate payment approvals. 

The virtual card feature adds an extra layer of security for online and high-risk transactions. Additionally, Divvy offers a tiered rewards system, giving you the opportunity to earn points for your spending habits. These points can be redeemed for travel, gift cards, statement credits, or cash back. 

While Divvy’s customer service receives mixed reviews, the platform’s help center and communication tools aim to provide comprehensive assistance. If you’re a business owner seeking advanced financial tools that streamline your operations and enhance your financial management, the Divvy credit card might just be the power boost your business needs.

Learn more: In-Depth Divvy Credit Card Review: Read This Before You Apply 

3. Bluevine – Fintech Business Checking & Credit 

fintech credit union

For: Small business owners

Bluevine presents a game-changing solution for small business owners with its high-yield free business checking account. With the ability to earn 50X the national average interest on balances up to $100K, this offering stands out in the financial landscape. 

The account comes with no monthly fees or minimum deposits, making it particularly appealing for digitally-focused businesses, freelancers, and service providers. While Bluevine’s single-account holder policy and minimum requirements to collect interest might not suit all businesses, the benefits are noteworthy. 

The platform’s integration of sub-accounts, dedicated account numbers, and unlimited fee-free transactions adds to its appeal. Bluevine’s strategic partnership with MoneyPass ATM network provides widespread access to surcharge-free ATMs. However, cash deposits made at ATMs incur a fee. The option to grant access to your account without sharing login credentials is a unique feature, enhancing collaboration with bookkeepers and accountants.

Moreover, Bluevine’s line of revolving credit up to $250K, coupled with competitive rates, can offer additional financial support for qualifying businesses. Overall, Bluevine’s innovative offerings make it a compelling choice for businesses that prioritize digital transactions and aim to make the most of their account balances.

Learn more: Bluevine Review: Free, High Yield Small Business Checking! Are They Serious? 

4. Stripe Corporate Card – Cashback and More

Stripe credit card

For: Business owners using Stripe Payments

The Stripe Corporate Card offers a compelling credit card option for existing Stripe Payments users. This card comes with unique advantages, including no fees, 0% interest, and an appealing 2% cashback on spending in top two categories. 

Notably, with a spending of $5,000 on the Stripe Corporate Card, users gain access to $50,000 in free transactions on the platform. Furthermore, the card allows users to customize their logo, create branded cards, and even originate credit cards for their customers. 

The card is available as both virtual and physical options, with the latter delivered within days. Stripe’s innovative approach is fueled by its primary revenue source—transaction fees for processing payments, allowing them to offer these enticing features. However, the card is exclusively available to existing Stripe Payments users, requiring those interested to request an invitation. 

In comparison to similar offerings like Brex, the Stripe Corporate Card stands out with its cashback rewards. Stripe’s broader suite of financial services and its reputation as a payment processor further contribute to the appeal of the Corporate Card. This review aims to provide a comprehensive overview for business owners seeking a flexible and rewarding credit card solution.

Learn more: Have You Heard About the Free Stripe Corporate Card Cashback Benefits? 

5. Ramp – Redefining Fintech Credit Cards

fintech debit card

For: Businesses seeking a frde corporate card

The Ramp Corporate Card, provided by Ramp Financial, is a corporate credit card designed to help businesses save money. With an emphasis on cost reduction and rewards, the card offers a range of features that can benefit businesses of various sizes. This review delves into the offerings and highlights of the Ramp Corporate Card.

The card allows businesses to issue unlimited staff cards, each with customizable spending limits. Additionally, Ramp’s algorithm identifies potential savings opportunities by analyzing spending patterns.

The Ramp Corporate Card comes with no foreign transaction fees, late fees, interest fees, or annual fees. It offers a flat 1.5% cashback on all spending, allowing businesses to earn rewards across various expense categories – Ramp has partnered with various service providers, offering potential savings of up to $175K for cardholders who leverage these partnerships. These rewards encompass a range of services, from advertising credits to discounts on software subscriptions.

While specific requirements are not fully transparent, Ramp’s underwriting process seems to consider factors such as business size, average monthly card spending, and the presence of over $250K in the business account.

Learn More: Ramp Credit Card Review: Is This the Corporate Card for Your Business? 

6. Meet the Unicorn Card – CredAI

fintech credit card

For: Consumers

Cred AI is not your average credit card – It’s a fintech sensation offering a premium, mobile, fee-free metal credit card that packs a punch. With innovative technology, Cred AI helps you manage finances, build credit, and guard against fraud. 

You can spend like a debit card while building your credit score, and access your paycheck up to two days early. The virtual Stealth Card™ and High-Security Mode™ provide added protection. Backed by AI, Cred AI learns your spending patterns and safeguards you from overspending. 

The Unicorn Card™ extends credit based on upfront deposits and pays off your monthly balance using those funds. With Cred AI, you’re not just getting a credit card; you’re getting a comprehensive financial tool that combines convenience, security, and credit-building opportunities.

Learn more: Cred AI Review: Are You Really Better Than Your Bank? 

→ You might also want to check out: They Do What?! Is the X1 Card Just a Bunch of Hype…? 

Frequently Asked Questions

What is a Stealth Card?

Operating under the radar with a minimalist design, a stealth card offers enhanced security by concealing sensitive information. Unlike traditional cards that display critical details like card numbers and CVVs, a stealth card keeps these particulars hidden until needed, thwarting potential security breaches and ensuring peace of mind during transactions.

How does fintech make money?

Fintech credit card companies’ revenue-generation strategies can include transaction fees incurred during financial activities and subscription models that offer premium services for a recurring fee. But, the key money-maker is strategic partnerships that cater to the unique financial needs of their clientele. 

What are the Big 4 credit card networks?

The “Big 4” credit card networks refer to the major players that dominate the credit card industry: Visa, MasterCard, American Express, and Discover – Fintech credit cards (as of now), tend to fall outside the realm of these established networks; 

Who is eligible for fintech credit cards?

Fintech credit cards cater to a diverse spectrum of individuals and business owners, spanning from students with no credit to fledgling startups to well-established enterprises. Nearly anyone at any stage of the credit journey can find a fintech card to suit their situation. 

How do you qualify for fintech credit cards?

The criteria for qualifying for fintech credit cards can vary from one offer to another, reflecting each company’s individual assessment strategies. Generally, consumers and businesses that maintain a consistent and reliable income stream stand a strong chance of meeting the eligibility requirements. Lenders typically evaluate the money going into and out of the applicant’s bank account to see if they qualify.

Is Zelle a fintech company?

Absolutely! Zelle falls squarely within the realm of fintech companies (though they have no credit card offer). The pioneering digital payment platform epitomizes the convergence of finance and technology. Zelle’s core mission revolves around facilitating swift and secure monetary transfers between individuals and businesses. 

Recommended: Real-Time Payments: A Business Owner’s Guide to Current Tech 

Conclusion

Congratulations, you’re now equipped with the knowledge to choose the best fintech credit card for your needs! Remember, these cards aren’t just about transactions; they’re about transforming the way you manage your finances. 

So, why wait? Take the next step in boosting your business’s financial prowess by applying for one of these fintech credit cards today! 

And, if you’re hungry for more credit knowledge, don’t forget to check out our Business Credit Workshop, where anyone can learn how to secure up to $100K in business credit within just 30 days…Your journey to financial empowerment starts now!

→ Join Business Credit Workshop today.

The Best Credit Cards for Landlords: A Comprehensive Guide

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best credit card for landlords

As a landlord, managing rental properties and maximizing profits is your top priority. One tool that can significantly aid in achieving this goal is the right credit card. 

In this extensive guide, we’ll explore the best credit cards for landlords. Whether you’re a seasoned property owner or just starting out, these credit cards can provide valuable benefits and rewards tailored to your needs. 

We’ll also address common questions about credit cards for landlords and provide insights into building business credit.

Here’s what’s in store:

Let’s get crackin’!

Why Should Landlords Choose Business Credit Cards?

Running a successful rental property business requires effective financial management. Compared to consumer credit cards, business credit cards tend to come with higher limits, yes. But, that’s not the only advantage.

Business credit cards offer several benefits that can simplify your operations:

First, with business credit cards, you can separate personal and business expenses effortlessly, making tax season a breeze.

Next, you can enjoy flexible credit limits to cover property-related costs and unexpected repairs.

And, you can earn valuable rewards, cash back, and discounts on everyday expenses associated with rental properties.

Finally, you can benefit from purchase protection and extended warranty coverage for appliances and equipment with a business credit card.

Furthermore, when you establish and strengthen your business credit profile, it can lead to better financing options in the future.

How to Grow Your Profits with Business Credit

Building strong business credit can be invaluable for a thriving landlord venture. 

To build your business credit, here’s what you can do:

  1. Lay a Solid Foundation – Choose your name and business category strategically. Establish your business entity and ensure consistency.
  2. Prepare Your Business for Credit – Secure an address, insurance, and licenses. Create an online presence and dedicated business account.
  3. Foster Financial Relationships – Network with local banks and credit unions. Understand financing programs and underwriting processes.
  4. Develop Strong Credit Profiles – Obtain a DUNS number and monitor your credit scores. Use tools like Nav for credit profile strength.
  5. Establish the Right Trade Lines Start with trade lines like store cards, net 30 accounts, and gas cards. Build a stable credit profile so you can continue to grow. 

And, here are some relevant companies that can help you build business credit: 

  1. Home Depot
  2. Floor & Decor
  3. Crown Office Supplies
  4. Shirtsy
  5. AtoB Gas Card

(Learn more about the process in our 7-step Business Credit Workshop.)

Key Factors to Consider When You Choose a Credit Card

To choose the right credit card for your landlord venture needs, here’s what you need to consider: 

  1. Rewards & Cash Back – Look for cards that offer rewards categories relevant to your rental business, such as office supplies or home improvement purchases.
  2. Annual Fees – Choose a card with no annual fee or a fee where rewards redemption will make it worthwhile. 
  3. 0% Intro APR Offers – If you plan to carry a balance, seek out cards with a 0% introductory APR period.
  4. Credit Limit: Make sure the credit limit lines up with your monthly expenses.
  5. Benefits and Perks – Consider additional benefits that align with your business.

The Best Business Credit Cards for Landlords

Here are the best credit cards for landlords, each offering unique advantages tailored to your rental property business – These credit cards cater to landlords by providing rewards, expense management tools, and cash flow flexibility that align with the ongoing nature of property management.

1. Chase Ink Business Preferred Card

credit card for rental property

The Chase Ink Business Preferred Card’s specialized bonus categories and advantageous point value for travel redemptions make it particularly valuable for landlords, addressing a range of expenses and travel requirements.

Plus, landlords usually have ongoing expenses related to property maintenance and management, which makes the card’s rewards on shipping and business categories worthwhile. The elevated redemption value for travel will benefit landlords who travel to manage properties in different locations.

  • Rewards – Earn 3X points on shipping and certain business categories, and 1X on all other purchases.
  • Redemption – Points gain a 25% boost in value when used for travel via Chase Ultimate Rewards.
  • Additional Benefits – Employee cards available, along with 5X points on Lyft rides.

Learn More: Chase Ink Business Preferred Credit Card: A Deep Dive Analysis 

2. Amex Blue Business® Plus Credit Card

amex blue business for landlords

The Amex Blue Business Plus Credit Card offers straightforward rewards for every purchase, coupled with useful tools for expense management that enhance a landlord’s ability to efficiently oversee their business finances.

The card’s straightforward rewards structure and expense management tools make it useful for keeping track of expenses associated with managing multiple rental properties.

  • Rewards – Gain 2X Membership Rewards® points on the initial $50,000 spent annually, followed by 1X points for subsequent purchases.
  • Cash Flow Flexibility – Experience Expanded Buying Power, with no preset spending limit.
  • Expense Management Tools – Benefit from employee cards, integration with QuickBooks®, Vendor Pay through Bill.com, and more.

3. Amex Business Platinum Card 

best credit card for real estate investors

The Amex Business Platinum Card stands out with one of the most robust rewards programs, many of which are relevant to property management, specifically those with properties in various locations.

Additionally, the card’s rewards on construction materials, hardware suppliers, and shipping providers align with landlords’ purchasing needs.

  • Rewards – Earn 1.5X points on eligible purchases at U.S. construction material & hardware suppliers, electronics, software & cloud providers, and shipping providers, plus on purchases of $5,000 or more elsewhere.
  • Travel Benefits – Take advantage of an array of travel rewards, such as:
    • Get a statement credit for Global Entry or TSA PreCheck® application fees. 
    • Earn 5X Membership Rewards® points for flights and prepaid hotels booked via AmexTravel.com. 
    • Access over 1,400 airport lounges through the Global Lounge Collection. 
    • Gain 35% of points back with Membership Rewards® Pay with Points for eligible flights via American Express Travel. 
    • Enjoy perks and earn 5X points on prepaid hotel and resort stays.
    • Receive up to $200 in statement credits annually for qualifying airline incidental fees.
    • Taka advantage of the Premium Private Jet program, premium car rental perks, Business Platinum travel service, trip delay and cancellation insurance, and more.
  • No Foreign Transaction Fees – Make purchases outside the U.S. without incurring foreign transaction fees.

Recommended: Best Credit Card for House Flippers: The Ultimate Guide

4. Amex Business Gold Card

best credit card for short term rental business

The Amex Business Gold card’s bonus categories encompass a wide spectrum of business expenditures, rendering it a valuable tool for various aspects of managing properties. Ans, the pay over time option provides cashflow flexibility, particularly when rental income is inconsistent.

Similar to the Business Platinum Card, the Business Gold Card’s rewards categories cover a broad range of expenses, including advertising, utilities, and shipping, which are often relevant to landlords. 

  • Rewards – Earn 4X Membership Rewards® points on the top 2 categories where your business spends the most in each billing cycle from a selection of options.
  • Cash Flow Flexibility – Take advantage of the option to pay over time with no preset spending limit.
  • Additional Benefits – Access expense management tools, employee cards, integration with QuickBooks®, Vendor Pay through Bill.com, and more.

5. Chase Ink Business Unlimited Card

best credit card for home improvement

The Chase Ink Business Unlimited Card delivers straightforward cash back on all purchases, which can offset a variety of expenses linked to property management activities, including supplies, renovations, and transportation.

The flat cash back rate on all purchases is beneficial for ongoing maintenance and home improvement expenses. Plus, the introductory 0% APR period can help manage large expenditures without incurring immediate interest.

  • Unlimited Cash Back – Secure 1.5% cash back on every purchase.
  • Intro APR – Enjoy a 0% introductory APR for 12 months on purchases.
  • Additional Benefits – Offer staff cards and earn 5% cash back on Lyft rides.

Recommended: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth 

Frequently Asked Questions

Can a landlord get business credit?

Yes, landlords can get a business credit card to build business credit. This helps separate personal and property expenses. Despite having a single property, you can qualify by using your business’s Employer Identification Number (EIN) instead of your Social Security Number (SSN). 

How do I use my EIN number for credit?

Using your Employer Identification Number (EIN) for credit involves applying for business credit cards and loans. Lenders use your EIN to assess your business’s creditworthiness.

Which bank credit card is best with no annual fee?

The Ink Business Unlimited® Credit Card from Chase is an excellent option, offering no annual fee and straightforward cash back rewards.

Which credit card is easy to get?

The Ink Business Cash® Credit Card from Chase is relatively accessible and offers tiered rewards, making it suitable for landlords.

What credit score do most rental companies use?

Most rental companies use a FICO credit score, with a score of around 650 or higher typically being considered a good credit score for rental applications.

Recommended: This is How to Pay Rent with a Credit Card (Home or Business) 

Final Thoughts

Selecting the right credit card for your rental property business can significantly impact your financial success – By considering factors like rewards, annual fees, and purchase protections, you can choose a card that aligns with your unique needs. 

The top business credit cards for landlords, along with their alternatives, provide valuable rewards and benefits that can enhance your rental property operations. 

Ready to take your property management business to the next level? Explore the possibilities with Business Credit Workshop and learn how to secure up to $100K in business credit within as few as 30 days. 

→ Join Business Credit Workshop today.

Best Credit Cards for House Flippers: The Ultimate Guide 2023 

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best credit card for house flippers

House flipping is a popular investment strategy for those looking to make profits in the real estate market. To help house flippers manage their finances effectively and make the most of their investments, choosing the right credit card is crucial. 

In this guide, we’ll explore the best credit cards for house flippers, including those for landlords and rental property owners. Whether you’re a seasoned flipper or just getting started, we’ve got you covered.

Here’s what’s in store: 

Now, let’s roll! 

What to Look for in a Credit Card for House Flippers

Before diving into the best credit cards, you need to know what to look for in a card to meet your needs as a house flipper.

First of all, you should search for the best rewards – Look for cards with rewards or cashback programs tailored to real estate-related expenses.

Next, see what introductory offers are available – Some cards offer attractive sign-up bonuses or introductory APRs, which can be beneficial during the initial stages of a house flip.

Then, make sure you’re getting a card with the lowest fees, or that the rewards offset the fees – Avoid cards with excessive fees that can eat into your profits.

Finally, you’ll want a high credit limit – A higher credit limit can provide more financial flexibility for property renovations and purchases.

Recommended: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth 

The Best Credit Cards for House Flippers

Here are the top five credit cards for house flippers and rental property owners, with a focus on their benefits and drawbacks.

Sure, here’s a summary of each of the credit cards you provided and how a house flipper could potentially use them to their advantage:

1. Amex Business Platinum Card

Best credit card for real estate investors

The Amex Business Platinum card offers extensive travel benefits, rewards on purchases relevant to house flipping, and various insurances that can help manage risks associated with travel and business expenses.

  • Travel Benefits: Earn 5X Membership Rewards® points on flights and prepaid hotels when booked through AmexTravel.com. Access to the Global Lounge Collection with over 1,400 airport lounges.
  • Airline Fee Credit: Up to $200 in statement credits per calendar year for incidental fees charged by a selected qualifying airline.
  • CLEAR Membership Credit: Up to $189 in statement credits per year for CLEAR® membership.
  • Airline Bonus: Get 35% of points back when using Membership Rewards® Pay with Points for eligible flights through American Express Travel.
  • Fine Hotels + Resorts Program: Receive perks and earn 5X points on prepaid stays.
  • Global Entry or TSA PreCheck® Fee Credit: Statement credit for Global Entry or TSA PreCheck® application fees.
  • No Foreign Transaction Fees: No foreign transaction fees on purchases made outside the U.S.
  • Rewards: Earn 1.5X points on eligible purchases at U.S. construction material & hardware suppliers, electronics, software & cloud providers, and shipping providers, plus on purchases of $5,000 or more elsewhere.
  • Other Benefits: Premium Private Jet program, premium car rental privileges, Business Platinum travel service, trip delay and cancellation insurance, and more.

Recommended: Amex Business Checking Review: What You Need to Know…Really 

2. Chase Ink Business Unlimited Card

Credit cards for real estate agents

The Chase Ink Business Unlimited card provides straightforward cash back on all purchases, which can help offset various expenses related to house flipping, including supplies, renovations, and transportation.

  • Unlimited Cash Back: Earn 1.5% cash back on all purchases.
  • Intro APR: 0% intro APR for 12 months on purchases.
  • Bonus: $750 bonus cash back after spending $6,000 in the first 3 months.
  • Other Benefits: Employee cards at no additional cost, 5% cash back on Lyft rides.

3. Amex Business Gold Card

Credit cards for real estate investors

The Amex Business Gold card’s bonus categories cover a wide range of business expenses, making it useful for various aspects of house flipping. The Pay Over Time option provides flexibility in managing cash flow.

  • Rewards: Earn 4X Membership Rewards® points on the top 2 categories where your business spends the most each billing cycle from a list of options.
  • Cash Flow Flexibility: Pay Over Time option, No Preset Spending Limit.
  • Other Benefits: Expense management tools, Employee cards, Connect to QuickBooks®, Vendor Pay by Bill.com, and more.

4. Chase Ink Business Preferred Card

Best credit card for landlords

Chase Ink Business Preferred’s bonus categories and high point value for travel redemption can be beneficial for a house flipper’s various expenses and travel needs.

  • Rewards: Earn 3X points on shipping and select business categories, 1X on other purchases.
  • Bonus: 100,000 bonus points after spending $8,000 in the first 3 months.
  • Redemption: Points are worth 25% more when redeemed for travel through Chase Ultimate Rewards.
  • Other Benefits: Employee cards, 5X points on Lyft rides.

Learn more: Chase Ink Business Preferred Credit Card: A Deep Dive Analysis 

5. Amex Blue Business® Plus Credit Card

Best business credit cards for landlords

The Amex Blue Business Plus card offers simple rewards on all purchases, and its expense management tools can help house flippers efficiently manage their business finances.

  • Rewards: Earn 2X Membership Rewards® points on the first $50,000 spent in purchases each year, 1X points thereafter.
  • Cash Flow Flexibility: Expanded Buying Power, No Preset Spending Limit.
  • Expense Management Tools: Employee cards, Connect to QuickBooks®, Vendor Pay by Bill.com, and more.

Note that these offers can change over time – check the official website for each card to see the most accurate information about each offer. 

Consumer Credit Cards for House Flippers

In addition to the top five business credit cards, here are two alternative credit cards worth taking a look at as you start on your house flipping journey – These cards aren’t categorically for business owners, but they provide relevant offers.

1. Chase Freedom Unlimited® Card

Best credit card for short term rental business
  • Cash Back Rewards: Earn unlimited 1.5% cash back on all purchases. Get 3% cash back on dining and drugstore purchases, and 5% cash back on travel booked through Chase.
  • Intro APR: Enjoy a 0% intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 20.49%–29.24% applies.
  • Annual Fee: There is no annual fee for this card.
  • Bonus Offer: Earn a $200 bonus after spending $500 on purchases within the first 3 months of account opening. Additionally, earn 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) up to $12,000 spent in the first year.
  • Special Features: Cash back rewards don’t expire as long as your account is open. No minimum redemption requirement.

2. Lowe’s Advantage Card

Flipping houses with credit cards
  • 5% Off: Enjoy a 5% discount on eligible purchases with the Lowe’s Advantage Card.
  • Special Financing: Get 6 months special financing on purchases of $299 or more. Also, avail of 12 months special financing on appliances and installed heating, ventilation, and air conditioning.
  • 84 Fixed Monthly Payments: For purchases of $2,000 or more, take advantage of reduced APR financing with 84 fixed monthly payments.
  • Lease to Own Option: Choose a no-credit-needed purchase option with a 90-day purchase period, early purchase option, or a 12-month standard lease agreement.
  • Additional Offers: Receive 20% off your purchase when opening and using a new account, and various other special financing options for different purchases.
  • Advantages Explained: The Lowe’s Advantage Card offers 5% off eligible purchases, special financing for larger purchases, and fixed monthly payments at a reduced APR for even bigger investments.
  • Online Account Management: Conveniently manage your Lowe’s Advantage Credit Card through an online portal, with options for AutoPay and customer service support.
  • Progressive Leasing: Lease-to-own service provided by Progressive Leasing, offering options for select items at participating locations.

Recommended: Is a Floor & Decor Business Credit Card Still Worth It? 

Elevate Your House Flipping Venture With Business Credit

Establishing solid business credit is an invaluable asset for a thriving house flipping venture. Let’s look at key steps to build business credit fast so you can open doors to enhanced funding opportunities and favorable insurance rates.

  • Step 1: Set a Strong Foundation – Select a business name and category that allow diverse funding options, maintaining consistency over time. Decide on your preferred method of business entity establishment, considering legal services, online platforms, or local government channels.

Learn more: Low-Risk NAICS Codes +Best SIC Codes for Business Credit

  • Step 2: Ready Your Business for Credit – Secure a physical address, acquire essential business insurance, and obtain required licenses. Create a professional online presence, list your business in relevant directories, and establish a local landline number and business checking account.

Learn more: What is a Virtual Address for Business? (+Do You Need One?) 

  • Step 3: Forge Financial Relationships – Attend local Chamber of Commerce events or network online to connect with potential financial partners. Identify local banks and credit unions, researching their financing programs and underwriting processes to gain insights into securing business credit.

Learn more: How to Network with Local Banks to Get Business Credit

  • Step 4: Set up Strong Business Credit Profiles – Obtain a DUNS number from Dun & Bradstreet and monitor Equifax and Experian business credit scores. Utilize Nav for free business credit monitoring, ensuring a robust credit profile to access favorable financing options.

Learn more: Everything You Need to Know About a DUNS Number

  • Step 5: Establish Effective Trade Lines – Utilize trade lines of credit, like gas and store cards, to embellish your business credit profile. Begin with tradelines before exploring revolving lines of credit, fostering stability and growth in your house flipping journey.

Learn more: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors] 

By following these steps, you’ll be equipped with essential business credit to propel your house flipping endeavor to new heights, securing funding and resources for a successful venture.

→ We teach the full, 7-step process in Business Credit Workshop. 

Frequently Asked Questions

Which home improvement credit card is easiest to get?

The Home Depot Consumer Credit Card is often considered one of the easiest home improvement credit cards to get due to its lenient approval requirements. Lowes has some great offers too. 

What is the average income of a home flipper?

The average income of a home flipper can vary widely depending on location and market conditions. However, successful flippers typically earn at least six-figure incomes.

Can you use business credit to flip houses?

Yes, you can use business credit cards to finance house flips by converting your credit into cash. Many business credit cards offer rewards and benefits tailored to real estate expenses. I recommend the BRRRR method, as its what I used to start my portfolio. 

How successful are house flippers on average?

House flipping success rates vary, but according to industry data, successful flips can generate profits that range from 20% to 50% of the property’s purchase price.

What is the easiest credit card to get approved for?

The Capital One Spark Cash for Business card is often regarded as one of the easiest business credit cards to get approved for, especially if you have good personal credit.

Conclusion

Choosing the right credit card can significantly impact your success as a house flipper. By understanding the best credit cards for house flippers and considering factors like rewards, fees, and credit requirements, you can make informed decisions that boost your profitability. 

Amex and Chase tend to have the best offer, in my opinion – but don’t forget to see what Lowe’s and Floor & Decor have to offer. 

Remember to build and maintain good credit habits to ensure a bright future in the real estate market. Happy flipping!Are you interested in learning how to obtain up to $150K in business credit in as few as 30 days? Join Business Credit Workshop today!

The Best Credit Cards for Truckers: Save Big on the Road!

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best credit cards for truckers

Hey there, truckers! Ready to hit the road and save some serious cash? In the fast-paced world of trucking, managing your finances is key to success. 

And guess what? 

The secret weapon to cut down expenses, earn rewards, and stay on top of your game is none other than the right credit card! Buckle up, ’cause in this guide, I’ll walk you through the best credit card options for truckers, spilling all the benefits and rewards. 

Plus, we’ll answer those burning questions you’ve got about credit cards, making sure you’re all set to make smart choices.

Here’s what’s in store: 

Now, let’s make tracks!

Fuel Cards & Business Credit: Gas Up to Save Big!

Fuel cards can be like gold for truckers. Not only do they give you discounts on fuel, but they also work wonders in slashing maintenance and truck-related expenses.

But, here’s the thing: not all fuel cards are created equal (some might not even report your credit history). So, to build that strong credit score, you might to consider business credit cards that do report to credit agencies. 

Recommended: This is How to Leverage Business Credit to Transform Your Life 

Fortunately, there are quite a few fuel cards tailor-made for truckers with no credit checks or options for those with not-so-perfect credit. Score!

Now, let’s talk savings! With fuel cards in hand, you can kiss a lot of sky-high fuel costs goodbye. Get ready to save big on gas and keep those hard-earned dollars where they belong – in your pocket! 

Some fuel cards give you massive discounts and rewards, but that’s not all. Combine it with fuel-efficient driving and comparing prices at different fuel stations – boom, more savings! 

And, you don’t have to worry if your credit history isn’t spotless. Some fuel cards for truckers are more forgiving, giving you a shot at the good stuff.

Recommended: Credit Secrets Book Review: Can You Erase Bad Credit History? 

The Benefits of Fuel Cards for Long-Haul Drivers 

Before we dive into the credit card options, let’s learn why fuel cards are the real deal.

Expense Reduction and Rewards

Picture this: you’re getting cash back and rewards on your fuel, maintenance, and truck-related expenses. Sounds like a dream, right? 

Well, dream no more! 

Finding the right card is all about getting you those juicy rewards, which means cutting down expenses and boosting your bottom line. Hello, more money in your pocket!

Improved Cash Flow

Life on the road can be unpredictable – I get it. But, worry not! Credit cards can be your financial cushion when payments are delayed or surprise expenses pop up. 

With that flexible plastic in your wallet, you can keep on truckin’ without any hiccups.

Expense Tracking and Simplified Bookkeeping

Nobody likes a mountain of receipts and confusing spreadsheets. Real-time spend tracking and analytics to the rescue! 

Many cards give you all the nitty-gritty details of your transactions on the same day spending takes place, making bookkeeping a breeze. 

You might also like: How to Use Business Gas Cards to Build Your Business Credit

The Top Credit Cards for Truckers: Your Highway to Savings!

Now, let’s hit the gas and check out the best credit cards just for truckers.

1. WEX Fleet Card

fuel cards for truckers with no credit check

The WEX Fleet Card is an ideal choice for growing businesses seeking real savings and efficient fuel expense management. Accepted at 95% of U.S. fuel stations, the card offers automatic fuel expense tracking, employee spending controls, purchase alerts, and exclusive discounts in the WEX EDGE savings network. 

The card’s fuel anywhere feature eliminates the need to plan routes around specific fuel stations, making it convenient for truckers. Advanced spending controls allow businesses to customize purchase restrictions, and detailed, custom reports aid in smart decision-making. 

This card also offers a mobile app for easy account access and provides excellent customer service.

Best for: Growing businesses with mixed fleets looking for comprehensive fuel expense management, robust controls, and access to exclusive discounts.

2. Shell Fleet Navigator Card

truckers preferred credit card

The Shell Fleet Navigator Card provides truckers with a wide acceptance at over 13,000 Shell stations and 95% of all U.S. fueling stations. With robust control features, businesses can set limits and track fueling activity easily. 

The card offers rebates of up to 5 cents per gallon, helping truckers save on fuel expenses. Plus, the card’s security features – like driver IDs and purchase controls – minimize the risk of fraud and misuse. 

Best for: Trucking businesses seeking a fuel card with a strong network, significant rebates, and efficient control options.

3. Exxon Mobil FleetPro Card

Credit cards for drivers

The ExxonMobil Fleet Pro Card is a single-card solution for mixed fleets and heavy-duty fleets. It offers universal card acceptance and competitive pricing on fuel within the Exxon and Mobil unified commercial and retail network. 

The card comes with the option for Exxon Mobil Rewards+ program, allowing drivers to earn points for discounts on fuel and other purchases. Synergy Diesel Efficient™ fuel is designed to offer cleaner engines and better fuel efficiency for fleets.

Best for: Mixed fleets and heavy-duty fleets looking for a single-card solution with fuel savings and additional rewards.

4. Fuelman

Best fuel card for owner operators 2023

Fuelman offers a range of fuel cards with flexible controls, tracking options, and rebates on gas purchases. The card allows businesses to set custom fuel controls, monitor spending, and track fuel expenses, which helps prevent fraud and misuse. 

It also provides additional benefits like the Maintenance Manager feature and various offers tailored for different fleet types.

Best for: Businesses seeking a fuel card with customizable controls and tracking options to effectively manage fuel expenses.

5. Shell Small Business Card

Top fuel cards

The Shell Small Business Card offers similar benefits as the Shell Fleet Navigator Card, making it suitable for businesses with smaller fleets. It provides fuel rebates, control features, and an extensive acceptance network. 

Businesses can easily track expenses and control fuel usage, making it an efficient option for small fleet operators.

Best for: Small businesses with fleets looking for fuel rebates and control features.

6. Discover It Secured Card

fuel cards for truckers with bad credit

While not specifically designed for truckers, the Discover It Secured Card can be beneficial for those looking to build or rebuild their credit history. The card requires a refundable security deposit, and responsible use can help improve credit scores. 

With cashback rewards on various categories, it can provide some value to truckers, especially if they use the card for everyday purchases.

Best for: Truckers looking to build or rebuild credit while earning cashback rewards.

Note: rather than use a secured card, I typically recommend credit repair, followed by business credit building for much higher spending limits.

7. Hilton Amex Surpass Card

Best business credit cards for owner operators

The Hilton Amex Surpass Card is a travel rewards credit card with excellent benefits for those frequently staying at Hilton hotels and resorts. The card offers generous points on hotel stays, dining, groceries, and gas purchases. 

Cardholders enjoy Hilton Honors Gold Status, a Free Night Reward, and Priority Pass™ Select membership for airport lounges.

Best for: Truckers who often stay at Hilton hotels and resorts and want to earn travel rewards and enjoy travel-related perks.

You might also want to check out → AtoB Business Gas Card Review: Is it Really a Superior Fleet Card? 

Frequently Asked Questions

Do truckers get fuel discounts?

Yes, truckers usually get fuel discounts. These discounts are either offered through company agreements and partnerships, specialized fuel card programs, or business credit cards with discounts and rewards on fuel spending. These discounts help drivers and business owners save on operating costs.

What is the best credit card for truckers?

Everyone is as different as the available credit cards! The best credit card for truckers depends on what you need and what you want to achieve. Cards like the WEX FlexCard Fleet Card Rewards and the RTS Fuel Card are trucker faves for their awesome fuel discounts and savings, but they both need to be paid in full each month.

What is a truck fuel card?

It’s your secret weapon to save money on fuel! A truck fuel card is like a supercharged credit card, specially made for truckers and fleet owners. You get discounts, rewards, and simplified expense tracking – it’s fueling made easy!

Which gas card saves you the most?

Ready to fill up your savings tank? Gas cards like the WEX FlexCard Fleet Card Rewards and the Fuelman Deep Saver Fleet Card dish out the best rebates and rewards, making sure you keep more green in your wallet. But, there are some business credit cards thar offer even more rewards and savings on fuel – the best offer depends greatly on your situation.

Do fuel cards build credit?

Fuel cards that report on-time payments to credit bureaus help build business credit, yes. But, not all gas card companies report on-time payments, which means these offers will have no impact on your personal or business credit. 

Final Thoughts

So there you have it! With this ultimate guide, you’re all set to make those smart financial moves. Armed with the right card, you can slash expenses, earn rewards, and conquer the road like never before. 

Time to hit the highways and steer your way to success in the competitive world of trucking! Keep those wheels rollin.’ Saving big could be just one application away…
Are you interested in learning how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

What is the Best Credit Card for Ad Spend? Expert Insights

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Best credit card for ad spend

Are you looking to optimize your advertising campaigns with the right credit card? Look no further! In this blog post, we’ll explore the best credit cards for ad spend, specifically focusing on Facebook, Google, and Amazon. 

We’ll also cover budgeting, authorized user benefits, and answer some frequently asked questions. 

Here’s what’s in store: 

Let’s dive in and find the perfect credit card for your advertising needs!

Commercial Card vs Business Credit Card

While credit cards and commercial credit cards are both tailored to the unique needs of businesses and can be used to boost cash flow and track expenses, there are important distinctions between the two.

Some notable characteristics of commercial cards include:

  • Must be paid in full each billing cycle
  • Does not typically accrue interest
  • Credit limit based on business revenue/cash flow
  • Enhanced expense management tools
  • High-tier rewards

On the other hand, business credit cards cater to the needs of both small and large businesses and offer a range of benefits, including:

  • May carry a balance at the end of each billing cycle
  • Will accrue interest if a balance is carried
  • Credit limit based on a blend of personal credit, business credit, and cashflow
  • Basic expense tracking and/or simplified bookkeeping
  • Basic rewards and cashback programs

Recommended: What are the Best Unsecured Business Credit Cards for Startups? 

While commercial credit cards cater specifically to larger businesses and offer advanced expense management tools, higher credit limits, and customizable reporting capabilities, business credit cards are versatile financial tools suitable for businesses of all sizes – They offer rewards programs, simplified expense tracking, and financial flexibility to support the unique needs of small and medium-sized enterprises.

Best Overall Credit Cards for Ad Spend

The next two cards offer the best rewards I know of on ad spend: Amex Business Platinum and Gold. The only downside would be that you may not be in a position to spend enough each year to make it worth paying the high-dollar annual fees. 

But, I want to tell you about them anyway. 

Amex Business Platinum Card

Best luxury business credit cards
  • Issuer: American Express
  • APR: 19.24% – 27.24% variable APR
  • Annual Fee: $695
  • Rewards:
    • Earn 120,000 Membership Rewards Points after spending $15,000 in the first 3 months.
    • Earn 5X Points on Flights & Prepaid Hotels booked on AmexTravel.com.
    • Earn 1.5X Points on Eligible Purchases in key business categories and on eligible purchases of $5K or more everywhere else.
  • Features & Benefits:
    • Statement credits for Dell Technologies, Indeed, Adobe Creative Solutions, and U.S. wireless telephone service providers.
    • Travel benefits like Global Lounge Collection access, Airline Fee Credit, CLEAR® Plus Credit, and more.
    • Fee Credit for Global Entry or TSA PreCheck®.
    • Premium status for select car rental programs.
    • Additional services like Cell Phone Protection, Extended Warranty, and Purchase Protection.
    • No foreign transaction fees.

The Amex Business Platinum Card provides premium rewards, extensive travel benefits, and various services to elevate your Amazon advertising efforts and business travel. However, the $695 annual fee may be justified by its comprehensive features and rewards.

Recommended: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth 

Amex Business Gold Card

Credit card advertisement Examples
  • Issuer: American Express
  • APR: 19.24% – 27.24% variable APR
  • Annual Fee: $295
  • Rewards:
    • Earn 4X Membership Rewards points on the top 2 business categories each billing cycle, including U.S. advertising in select media.
    • Earn 1X Membership Rewards points on other eligible purchases.
  • Features & Benefits:
    • Pay Over Time Option for eligible purchases with interest.
    • No preset spending limit for added flexibility.
    • Employee cards at no annual fee with spending limits and alerts.
    • Expense management tools like QuickBooks integration.
    • Various travel benefits and coverage.

The Amex Business Gold Card offers strong rewards on U.S. advertising and other business categories, along with expense management tools and travel benefits, making it a top choice for businesses focusing on ad spend.

The Best Card for Facebook & Instagram Ads

The best card for Facebook and Instagram is an easy pick, because Chase Ink Business Preferred offers 3X points on the first $150K of social media advertising. Pretty straightforward. 

Recommended: Chase Ink Business Preferred Credit Card: A Deep Dive Analysis 

Chase Ink Business Preferred Card

best credit card for facebook ads
  • Issuer: Chase
  • APR: 20.99%–25.99% variable APR
  • Annual Fee: $95
  • Rewards:
    • Earn 100,000 bonus points after spending $8K in the first 3 months.
    • 3X points on the first $150K spent on shipping and advertising via social media and search engines.
    • Earn unlimited 1 point per $1 spent on all other purchases.
  • Features & Benefits:
    • Redeem points for cash back, travel rewards, and more through Chase Ultimate Rewards.
    • Get 25% more value in travel redemption with Chase Ultimate Rewards.
    • Earn 5X points on Lyft rides through March 2025.
    • No foreign transaction fees.
    • 1:1 point transfer to participating airline and hotel loyalty programs.
    • Travel and purchase coverage for added protection.
    • Employee cards available at no extra cost with spending control and rewards earning.

The Chase Ink Business Preferred Card offers generous rewards, a valuable sign-up bonus, plus perks like travel redemption bonuses and Lyft ride rewards – It’s a solid choice for businesses looking to optimize ad spend on Facebook and Instagram.

The Best Card for Google Ads

I like the Stripe Corporate card for Google Ads because you will get a dollar-for-dollar ad credit for the first $500 in Google Ads spending. Plus, it’s free! Keep in mind, this one is invite-only, so you will need a Stripe account with some money coming through it to be eligible. 

Recommended: Could a Stripe Capital Loan Get Your Business Through a Rough Patch? 

Stripe Corporate Card

best credit card for google ads
  • Issuer: Stripe
  • APR: Not specified (additional details may be available through Stripe’s terms and conditions)
  • Annual Fee: None
  • Rewards:
    • Earn $500 in Google Ad credit after spending $500 on advertising.
    • Earn 1.5% cash back on all business purchases.
  • Features & Benefits:
    • Fast and easy expense management with instant card provision and real-time spending control.
    • No annual fees, foreign transaction fees, or late fees.
    • Custom spend controls to prevent fraud and manage expenses effectively.
    • Real-time expense reporting with automated receipt matching.
    • Seamless integrations with finance software like Expensify and QuickBooks.
    • Additional partner benefits with companies like AWS, Slack, Google Ads, and more.

The Stripe Corporate Card is designed for fast-growing businesses, offering cash back on all purchases and streamlined expense management, making it a smart choice for businesses using Google Ads.

The Best Cards for Amazon Ads

Now, the clear winner for Amazon Ads has to be the card that they’re backing – the Amazon Business Prime card. It comes with no annual fee, and a ton of rewards at Amazon and Whole Foods, specifically. Though you can still earn cash back on all spending. 

Recommended: Amazon Corporate Credit Line – The Ultimate Guide 

Amazon Business Prime Card

best credit card for amazon advertising
  • Issuer: American Express
  • APR: 19.24% – 27.24% variable APR
  • Annual Fee: $0
  • Rewards:
    • Get a $125 Amazon.com Gift Card upon approval.
    • Earn 5% back or 90-Day Terms on U.S. purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market.
    • Earn 2% back on U.S. purchases at restaurants, gas stations, and wireless phone services.
    • Earn 1% back on all other eligible purchases.
  • Features & Benefits:
    • Enhanced data views for simplified expense reconciliation.
    • Shop with Points on Amazon.com and Amazon Business (U.S.).
    • Employee Cards at no annual fee with spending limits and alerts.
    • QuickBooks integration for auto-expense categorization.
    • Year-End Summary for expense tracking.
    • No foreign transaction fees.

The Amazon Business Prime Card is perfect for Amazon sellers, offering attractive rewards on Amazon purchases with no annual fee and useful expense management features.

Bonus: Budgeting for Digital Ads

Determining the right budget for your Googe and Facebook ads can be a bit of a puzzle! I have a nifty approach that’ll help you navigate the ad spend game with confidence. 

Check it out:

  1. Start small, dream big – Begin with a modest budget of around $5-$10 per day for your Facebook ads. It’s like dipping your toes into the advertising pool without diving headfirst – This allows you to test the waters and see how your campaigns perform without breaking the bank.
  2. Play the monitoring game – Once your ads are up and running, it’s time to put on your detective hat and monitor their performance. Keep a close eye on those key metrics like impressions, clicks, and engagement. You’re on a mission to uncover the secret sauce that makes your ads shine.
  3. Look at ROI (The real MVP) – Now, here comes the exciting part: evaluating the return on investment (ROI) of your Facebook ads. Measure the actual results you’re getting against the money you’re investing. Are your ads generating leads, driving sales, or boosting brand awareness? Crunch those numbers and let the ROI tell you the tale of success.
  4. Adjust and double-down – Armed with the knowledge of your campaign’s performance and ROI, it’s time to make some magic happen. Certain ads will bring in the bacon and increase your revenue – those are the ads you want to pour your investment into. 
  5. Always adjust and optimize – Remember, you’re in this for the long haul. Keep the optimization engine running smoothly. Experiment with different targeting options, ad creatives, and messaging…Keep your budget low on experiments until you run a successful ad, then increase your budget on that one only. 

With this approach, you’ll confidently navigate the world of Facebook ad budgets. Starting small and smart, you’ll gradually unlock more potential, making your ad spend work harder and smarter. 

Frequently Asked Questions

Why is my card being declined on Facebook Ads?

Card declines on Facebook ads can occur due to various reasons, such as insufficient funds, an expired card, or temporary issues with your card provider. Ensure your card details are accurate and contact your credit card company for help.

Facebook Ads or Google Ads: Which is better?

The choice between Facebook ads and Google ads depends on your target audience, business goals, and advertising strategy. Facebook ads excel in audience targeting and engagement, while Google ads are effective for capturing intent-driven searches. Consider your objectives and conduct A/B testing to determine the best platform for you.

Can I use a Visa gift card for Facebook Ads?

Using a Visa gift card for Facebook ads can be tricky, since Facebook requires additional verification and rejects certain types of prepaid cards. It’s best to consult Facebook support for specific guidelines regarding the use of gift cards, if you’re having trouble.

Which cards are accepted in Facebook Payments?

Facebook accepts major credit and debit cards, including Visa, Mastercard, American Express, and Discover. Additionally, they offer alternative payment methods such as PayPal and Facebook ad coupons. Check Facebook Ads Manager for the complete list of accepted payment methods in your region.

Conclusion

Selecting the right credit card for ad spend can significantly impact the success of your advertising campaigns. Consider the rewards, benefits, and compatibility with platforms like Facebook, Google, and Amazon when making your decision. Remember to evaluate your specific needs and explore the features offered by different credit cards to find the one that aligns with your goals. 

With the best credit card by your side, you can make the most of your ad spend and drive your advertising efforts to new heights.Ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Uncover the Best Credit Card for Your Agriculture Business

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best credit card for agriculture business

If you’re an agriculture business owner, you know that there are a lot of expenses involved in running your operation. From buying supplies to hiring employees, it can be tough to keep up with the costs. That’s where a business credit card can come in handy.

A business credit card can help you earn rewards on your purchases, which can be used to offset your business expenses. Plus, many business credit cards offer other benefits, such as travel insurance and purchase protection.

Here, we’ll explore the best credit cards for agriculture businesses, including popular options such as Capital One Spark Business, American Express, Tractor Supply Credit Card, John Deere Credit Card, and Affirm. 

2% cash back on all purchasesNo annual fee and 2X points on eligible purchasesSpecial financing options and rewards on purchasesFlexible financing for John Deere productsFlexible financing with clear repayment plans
→ Learn More→ Learn More→ Learn More→ Learn More→ Learn More

We’ll also address common questions and concerns related to business credit cards for agriculture businesses.

Here’s what’s in store: 

Now, let’s get goin! 

What to Look for in a Business Credit Card

When it comes to choosing the right business credit card for your agriculture business, there are a few important factors to consider. 

  1. Rewards – Find a card that offers relevant rewards, like cash back on fuel and farm supply store purchases. Earn rewards on these expenses to save money in the long run.
  2. Interest Rate – Carefully consider the card’s interest rate, especially if you plan to carry a balance. High rates can eat into your profits, so choose a card with an affordable rate or look for lower-rate options.
  3. Annual Fee – Some business credit cards charge an annual fee. Consider whether the benefits and rewards justify the cost. If you don’t expect to use the card extensively or the benefits don’t outweigh the fee, opt for a card with no annual fee.
  4. Features and Benefits – Look for additional features like travel insurance, purchase protection, or expense tracking tools. Choose a card that offers the features most important to your agriculture business, such as travel insurance for agricultural conferences.

By considering these factors, you can find a business credit card that aligns with your agriculture business’s needs and helps you save money while managing your finances effectively.

→ Recommended: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth 

Let’s Choose the Right Business Credit Card for Your Agriculture Business

No matter what your business needs, there’s a business credit card out there that can help you save money and grow your business. Do some research to find the best card for you, and start taking advantage of the rewards and benefits today.

Here are some top credit card options to consider from major banks. Keep in mind that you may have better luck with a small local community bank or credit union. 

Spark 2% Cash Plus Business

capital one spark business

Issuer: Capital One 

Rewards: Earn unlimited 2% cash back on every purchase for your agriculture business. Additionally, you can earn unlimited 5% cash back on hotel and rental car bookings made through Capital One Travel.

Interest Rate: Variable purchase rate: 20.99% APR. The APR may vary with the market based on the Prime Rate.

Annual Fee: The Spark 2% Cash Plus credit card has an annual fee of $150.

Features and Benefits: This credit card offers several features and benefits that can be highly advantageous for an agriculture business. It has no preset spending limit, adapting to your business’s needs based on spending behavior, payment history, and credit profile. 

If you spend at least $150,000 per year, you can receive an annual fee refund of $150. The card provides business-grade capabilities, including free employee and virtual cards, enabling your team to make purchases while earning rewards. 

It also offers benefits such as: 

  • Account management tools
  • Employee access
  • Travel perks
  • Fraud liability protection
  • The ability to download purchase records in multiple formats for easy record-keeping.

Summary: The Spark 2% Cash Plus credit card is a valuable choice for agriculture businesses. With unlimited 2% cash back on all purchases, it allows businesses to earn rewards on their everyday expenses. The card’s business-specific features, such as free employee and virtual cards, empower team members to make purchases while earning rewards. 

Additionally, the annual fee refund of $150 incentivizes higher spending. The card’s benefits, including account management tools, travel perks, fraud protection, and easy record-keeping, provide further convenience and protection for agriculture businesses. 

Overall, the Spark 2% Cash Plus credit card can help agriculture businesses maximize their rewards, streamline purchasing processes, and enhance financial management.

American Express Blue Business Plus

small business credit cards

Issuer: American Express

Rewards: Earn 2X Membership Rewards® points on eligible business purchases up to $50,000 per calendar year. After reaching the spending cap, you earn 1X points on other eligible purchases.

Interest Rate: The introductory APR on purchases is 0% for the first 12 months from account opening. After that, the APR becomes a variable rate ranging from 18.24% to 26.24%.

Annual Fee: The Blue Business® Plus Credit Card has no annual fee, making it a cost-effective choice for agriculture businesses.

Features and Benefits: The Blue Business® Plus Credit Card offers various features and benefits that can be beneficial for agriculture businesses. It provides cash flow flexibility through Expanded Buying Power, allowing you to make purchases above your credit limit based on your payment history, credit record, and other factors. 

The card earns Membership Rewards® points, which can be accumulated quickly, offering potential rewards for your business expenses. Employee cards come with no annual fee, and you can earn points on their eligible purchases. 

The card also offers expense management tools such as: 

  • QuickBooks® integration
  • Online statements
  • Account alerts
  • A year-end summary for efficient budgeting and expense tracking
  • Vendor Pay by Bill.com 
  • The American Express® App
  • Dedicated customer service via Relationship Care®
  • Insurance coverage, including Car Rental Loss and Damage Insurance, Extended Warranty, and Purchase Protection 

Amex Blue Business provides added peace of mind for business transactions.

Summary: The Blue Business® Plus credit card is an excellent choice for agriculture businesses. With its rewards program, agriculture businesses can earn 2X Membership Rewards® points on eligible purchases. The introductory 0% APR for 12 months and no annual fee offer cost-saving advantages. 

The card’s expense management tools, such as employee cards, QuickBooks® integration, online statements, and account alerts, help streamline financial management. The Vendor Pay feature simplifies bill payments, and the Year-End Summary aids in budgeting and tax preparation. The card also provides insurance coverage and access to the American Express® App for convenient account management. 

With its valuable features and benefits, the Blue Business® Plus Credit Card can enhance cash flow, reward business spending, and provide essential financial tools for efficient operations in the agriculture industry.

Tractor Supply Co. Business Credit Card

agriculture credit cards

Issuer: Tractor Supply Company (TSC)/ Citibank

Rewards: New cardholders receive a $20 reward with their first qualifying purchase of $20 or more. Earn 5% in rewards storewide on eligible Tractor Supply Co. purchases.

Interest Rate: Variable purchase rate: 30.99% APR (as of May 9, 2023). The APR may vary with the market based on the Prime Rate.

Annual Fee: The TSC card has no annual fee. 

Features and Benefits: Deferred interest promotional offers:

  • No Interest if Paid in Full in 6 Months
  • No Interest if Paid in Full in 12 Months
  • No Interest if Paid in Full in 18 Months
  • No Interest if Paid in Full in 24 Months

Summary: The TSC Visa credit card provides attractive benefits for new cardholders, including a $20 reward with their first qualifying purchase and 5% in rewards storewide on eligible Tractor Supply Co. purchases. These rewards can be utilized to offset future expenses or used towards purchasing agricultural supplies and equipment. 

Additionally, the card offers deferred interest promotional offers, allowing cardholders to make purchases and pay no interest if the balance is paid in full within specific periods of 6, 12, 18, or 24 months. However, if the balance is not paid in full by the end of the promotional period, interest charges will be imposed at the variable purchase rate of 30.99% APR. 

Agriculture businesses can take advantage of these promotional offers to manage their cash flow effectively and make necessary purchases while avoiding interest charges if paid within the specified timeframes.

John Deere® Credit Card 

john deere credit card

Issuer: John Deere

Rewards: The John Deere Credit Revolving Plan Account does not explicitly mention a rewards program.

Interest Rate: The periodic rate is 0.06370% per day, which corresponds to an annual percentage rate (APR) of 23.25%. The periodic rate is 0.07192% per day, which corresponds to an APR of 26.25%

Annual Fee: The John Deere revolving credit account has no annual fee. 

Features and Benefits: The account is accepted at John Deere dealers and SiteOne Landscape Supply locations, providing flexibility in purchasing parts, attachments, batteries, equipment service, and more. Consolidate all purchases into one easy-to-read statement, making it convenient to track expenses.

This card offers options for minimum monthly payments or full payment, providing flexibility in managing cash flow. And, account holders may receive special offers on equipment, parts, and service, providing potential cost savings.

Summary: The John Deere Credit revolving account offers a flexible line of credit for financing purchases related to John Deere products. The account provides convenient payment options with minimum monthly payments or the choice to pay in full. Account holders may benefit from special offers on equipment, parts, and service. However, it is important to note that the account has relatively high-interest rates, with a regular purchase rate of 23.25% APR and a default rate of 26.25% APR. 

Despite the interest rates, the account can still be beneficial for an agriculture business as it offers convenience, consolidated statements, and access to necessary equipment and services from John Deere dealers and SiteOne Landscape Supply locations. 

It allows businesses to manage their cash flow and make essential purchases to keep their operations running smoothly.

→ Recommended: Is a Floor & Decor Business Credit Card Still Worth It? 

Affirm Virtual Card

affirm credit card

Issuer: Affirm Loans

Rewards: Affirm loans do not offer traditional rewards or cashback programs.

Interest Rate: The interest rates for Affirm loans can range from 0% to 36% APR, depending on the customer’s creditworthiness and the specific loan offer.

Annual Fee: Affirm loans do not charge an annual fee.

Features and Benefits: Affirm loans provide flexible financing options for customers, allowing them to make purchases and pay over time with fixed monthly payments. The loan terms and interest rates are clearly disclosed upfront, ensuring transparency and enabling customers to make informed financial decisions. 

Affirm loans also offer a user-friendly platform and a seamless application process, making it convenient for customers to access financing for their online purchases.

Summary: Affirm virtual cards provide a convenient and flexible financing option for customers, allowing them to make purchases and pay over time with fixed monthly payments. While Affirm loans do not offer traditional rewards or benefits, they enable customers to access financing with transparent terms and clear repayment plans. 

Remember, the virtual card expires 24 hours after it’s issued. If you don’t use it, you won’t owe anything. You can cancel the card anytime before it expires without any obligations. It works with Apple Pay and Google pay. If you don’t use the full amount on your card, that’s okay. You’ll only owe the amount you spend, plus any accrued interest. 

After the merchant processes your purchase, Affirm will provide a payment schedule for the full card amount. After 21 days (or longer, depending on the transaction), any unused funds will be returned, and the payment schedule will be updated accordingly. This means you may have a smaller final payment, fewer upcoming payments, or both.

Keep in mind that you can’t use your virtual card at merchants that violate Affirm’s Terms of Service, such as those selling firearms and alcohol.

While not a traditional business credit account, Affirm can help you with larger agriculture business expenses by giving you the ability to pay over time. 

★ Note: This can also be beneficial for agriculture businesses as it expands the purchasing power of customers, making your products or services more affordable and accessible. By partnering with Affirm, you can attract more customers, increase sales, and enhance customer satisfaction by offering a convenient and transparent financing solution.

Frequently Asked Questions

What is credit card farming?

Credit card farming refers to the practice of obtaining multiple credit cards to take advantage of sign-up bonuses and rewards. However, it’s important to use credit responsibly and avoid accumulating excessive debt.

Can I use a business credit card for multiple businesses?

Generally, business credit cards are intended for use by a specific business entity. Using a single credit card for multiple businesses can complicate your financial records and accounting. It’s recommended to have separate credit cards for each business.

Do you need a DBA to open a business credit card?

While a Doing Business As (DBA) name can help you establish a separate business identity, it’s not always a requirement for opening a business credit card. Each credit card issuer may have its own criteria and guidelines. I usually recommend an LLC registered with a low-risk NAICS code. 

Do I need a business bank account to apply for business credit?

Having a dedicated business bank account can demonstrate financial stability, but it’s not always mandatory for applying for a business credit card. Check with the credit card issuer to understand their specific requirements. I typically recommend businesses bank with a local community bank or credit union. 

Can you have a business credit card with bad credit?

It may be challenging to obtain a business credit card with bad credit. However, some credit card providers offer secured credit cards or cards specifically designed for businesses with less-than-perfect credit – The best thing to do is fix your personal credit before you apply for business credit.

Can a nonprofit get a credit card?

Yes, nonprofit organizations can apply for business credit cards tailored to their specific needs. Many credit card companies offer cards designed for nonprofits, which may include features such as donation rewards or special nonprofit discounts.

Wrapping Up

Choosing the best credit card for your agriculture business requires careful consideration of your specific needs, rewards programs, fees, and flexibility. Explore options from trusted providers such as Capital One Spark Business, American Express, Tractor Supply, John Deere, and Affirm to find a card that aligns with your agricultural operations. 

Remember to use credit responsibly, keep your personal and business expenses separate, and always pay your bills on time to build a positive credit history.

Wanna know a secret? 

You can get much larger lines of business credit when you establish your entity properly, work with local small banks and credit unions, and follow a proven process. 

Ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

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