Is the Nav Prime Card Right for Your Business? Let’s Find Out!

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Nav Prime Business Credit Card

In the world of small business, access to credit can be a game-changer. Whether you’re a seasoned entrepreneur or just starting, the financial flexibility to seize opportunities, manage cash flow, and fuel growth is essential. 

That’s where the Nav Prime Card might step in as a compelling tool to help you navigate the complex landscape of business credit. 

But, is it right for you?…That’s what I’m going to answer here.

This is what’s in store: 

Now, let’s roll! 

What is the Nav Prime Card?

The Nav Prime Card is a charge card offered by Nav Prime ($49.99/month), designed for small businesses. It allows users to build business credit without an annual fee or personal guarantee. Unlike a credit card, it requires no security deposit and is linked to the user’s business checking account for daily use.

This card is more than just a piece of plastic. It can be a financial lifeline for small businesses, offering a range of benefits designed to help you build, strengthen, and leverage your business credit profile. 

The Prime Card is issued by Blue Ridge Bank, N.A., adding a layer of credibility. Moreover, Nav, the company behind Nav Prime, is a well-established player in the business credit space, offering a range of financial tools and resources for businesses.  

Nav Prime Business Credit Card Review

Before Nav became Nav in 2012, the company was called Creditera, and was helping to boost business credit scores before most of the other players in the game (including Tillful).

Let’s dive into the details and explore why the Nav Prime Card is becoming a top choice for savvy entrepreneurs.

→ Recommended: Nav Review: A Tool that Helps Build Up Your Business Credit Score 

Nav Prime Card Overview

When it comes to the financial success of small businesses, one element often stands out: building a robust business credit profile. But, this isn’t always straightforward to achieve, especially if you’re just getting started or have limited credit history. 

Nav Business Credit Card

That’s where the Nav Prime Card steps in, offering a solution to this common challenge.

Business Credit Building Features

Building a robust business credit profile is a cornerstone of financial success for small businesses. However, it’s not always easy, especially if you’re just starting or have limited credit history. 

The Nav Prime Card is specifically designed to address this challenge.

Here’s how it works: 

  • It’s a charge card – Unlike traditional credit cards, the Nav Prime Card is a charge card, which means you need to pay your balance in full every month.
  • There’s no credit check – One of the hurdles many small business owners face is the dreaded credit check. The Nav Prime Card removes this barrier by not requiring a credit check for approval. This is fantastic news for those with less-than-perfect credit or those looking to avoid inquiries on their personal credit reports.
  • The account reports as a tradeline – The Nav Prime Card reports your payment activity as a tradeline to major credit bureaus. This is where the magic happens; your responsible card usage translates into positive data on your business credit report, gradually boosting your business credit scores.

→ Recommended: Using 30 Day Net Vendors to Build Your Business Credit Score 

No Security Deposit Required

Securing a traditional business credit card often involves putting down a security deposit, which ties up your capital. The Nav Prime Card eliminates this requirement, giving you access to credit without tying up your cash. It’s a win-win for your business’s financial health.

Daily Autopay Feature

Managing your credit card balance can be a juggling act. The Nav Prime Card simplifies this process with its daily autopay feature. Instead of fretting over a big monthly bill, your card balance is automatically paid down daily, which reduces the risk of carrying a high credit balance and potential interest charges.

Second Monthly Tradeline

In the world of credit building, tradelines are your best friends – The Nav Prime Card provides a unique advantage by automatically sending two monthly tradelines to all three major credit bureaus. This means your positive payment history is widely reported, strengthening your business credit profile faster.

But, it’s not right for everyone. 

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

Who Wouldn’t Want a Nav Prime Card? 

Nav Prime Business Credit Card Reviews

While while Nav Prime has a good offer, here are some of the groups who might not want to take advantage of the card offer:

  1. Budget-savvy startups – If you’re a fresh-faced startup trying to make every dollar count and the Nav Prime Card asks for a monthly fee of $49.99 for Nav Prime, this could throw a curveball into your penny-pinching game. Early-stage businesses might steer clear to keep their costs in check.

Note: Tillful Builder (the software platform Nav Prime is likely based on) charges a sliding monthly fee of $20-50, so it may be worth checking out if you want a better monthly rate, though the two offers may merge in the future. 

  1. Privacy buffs – If you need to guard their data like a treasure chest, keep in mind that the Nav Prime Card wants access to your bank accounts to set a credit limit. If you need to be all about data security and privacy, you might go, “No way!” and opt for another option. (But, nearly all card offers will require that you share at least some 
  2. Geographically-challenged folks – Is your business California, Nevada, North Dakota, or South Dakota? Unfortunately, the Nav Prime Card doesn’t roll out the welcome mat in these states. So, if you’re doing business in any of these areas, it’s a no-go. 
  3. Owners looking for a credit card – If you’re in the market for an unsecured credit card that you can use to expand and grow your business, you don’t need a business credit builder card (you might check out one of these instead). 

These are the kinds of folks who might give the Nav Prime Card a polite pass. Whether they’re all about frugality, data security, or just prefer a different financial vibe, they’ve got their reasons to set their eyes on a different offer.

→ Recommended: The Ultimate Tillful Review (+New Secured Credit Offer for Businesses) 

How to Get Started with the Nav Prime Card

Now that you’re intrigued by the Nav Prime Card’s benefits, you might be wondering how to get your hands on one. 

Here’s a step-by-step guide to kickstart your journey to building and leveraging business credit with Nav Prime:

  • Step 1: Check your eligibility

Before applying for the Nav Prime Card, ensure that you meet the eligibility criteria. While the card is designed to be accessible, it’s essential to confirm that your business qualifies.

In simple terms, if you want to sign up for a Platform Account, you need to meet some requirements:

  • Your business must be based in the United States.
  • You should have an active Nav Prime subscription.
  • You have to complete identity verification, which means proving who you are.
  • Your business can’t be involved in certain activities like adult entertainment, selling cannabis, dealing with cryptocurrency, running gambling or online gaming, or anything else that doesn’t go well with this card.
  • The person applying for the account must be at least 18 years old and allowed to do this on your behalf.
  • They might look at some other things to decide if you can get an account or the card, but that’s up to them.
  • Step 2: Apply online

The application process for the Nav Prime Card is straightforward and can be completed online. Be prepared to provide basic information about your business, such as its legal structure and industry.

Nav Prime Business Credit Card Application
  • Step 3: Link your bank account

To set your credit limit and enable daily autopay, you’ll need to link your business bank account to your Nav Prime Card account – This step streamlines your finances, providing insights you can’t get from your bank alone.

  • Step 4: Use your card responsibly

Once you receive your Nav Prime Card, it’s time to put it to work. Use it for your everyday business expenses…but remember that it’s a charge card, so paying your balance in full each month is crucial.

  • Step 5: Watch your business credit grow

As you consistently use your Nav Prime Card and make on-time payments, you’ll start to see the positive impact on your business credit profile. Over time, your business credit scores will rise, opening doors to better financing options.

Nav Prime Business Credit Card Login

Frequently Asked Questions

What's the difference between a charge card and a credit card?

While both types of cards allow you to make purchases, there’s a key distinction. A charge card requires you to pay your balance in full each month, while a credit card allows you to carry a balance and make minimum payments. The Nav Prime Card is a charge card, offering the benefits of credit without the risk of long-term debt.

Can the Nav Prime Card help me secure business financing?

Yes, absolutely. By consistently using and managing your Nav Prime Card responsibly, you’ll build a strong business credit profile. This, in turn, enhances your eligibility for various financing options, including business loans, lines of credit, and more favorable terms.

Is the Nav Prime Card available nationwide?

Nav Prime Card is available in most states; however, it’s not currently offered in California, Nevada, North Dakota, or South Dakota.

How long does it take to see improvements in my business credit scores with the Nav Prime Card?

The timeline for credit score improvement can vary based on several factors. According to data tracking Experian® Intelliscore Plus business credit scores, many users have seen improvements of up to 50% in the first three months of having Nav tradeline reporting. Results may vary, but responsible card usage is key to achieving these improvements.

So, is the Nav Prime Card legit? 

The Nav Prime Card is more than just a business charge card; it can be a powerful tool for building, strengthening, and leveraging your business credit profile.

 With its unique features, including no credit checks, no security deposit, daily autopay, and the reporting of two monthly tradelines, it’s a valuable asset for small business owners looking to secure better financing options and improve their financial health. 

If you’re ready to take control of your business credit journey, you can spare $49 per month for full access to Nav Prime, and if you’re in a region where the offer is available, the Nav Prime Card is probably worth looking into.

Do you want to learn how to get 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.

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!

6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth

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best business credit cards for entrepreneurs

As an entrepreneur, managing your finances is crucial. And guess what? A business credit card can be a game-changer. In this article, we explore the world of credit cards designed specifically for entrepreneurs. We’ll reveal the leading contenders, highlight their impressive features, and address the burning questions you have about credit cards for contractors, independent contractors, and self-employed individuals.

But first, let’s give you a sneak peek of the cards—because that’s what you’re here for!

Presenting the most practical (and rewarding) business credit cards for entrepreneurs:

Chase Ink Business Preferred
Generous rewards program and travel benefits

→ Learn more
BoA Mastercard Business Platinum
Comprehensive travel insurance coverage

→ Learn more
American Express Business Gold
Flexible rewards and bonus categories for common expenses

→ Learn more
Capital One Spark 2% Business Cash 
Unlimited 2% cash back on all purchases

→ Learn more
CitiBusiness/AAdvantage Platinum Select
Travel benefits and rewards for American Airlines 

→ Learn more
Divvy Corporate Card
Simplified expense management and budget controls

→ Learn more

These credit cards from major banks are quite popular, but here’s a little secret: If you have a solid relationship with a small community bank or credit union, you might be able to secure even higher credit limits. In fact, we specialize in teaching entrepreneurs like you how to build those relationships and access credit lines worth hundreds of thousands of dollars at Business Credit Workshop. So, don’t overlook the potential benefits of working with local financial institutions!

Now, let’s take a closer look at each of the cards mentioned above and uncover valuable information and advice to help you maximize your business credit profile. Get ready to elevate your financial strategy and unlock new opportunities for your business!

Here’s what’s in store: 

Now, let’s get crackin’!

Explore the Best Credit Cards for Entrepreneurs

Chase Ink Business PreferredCompetitive APR, employee cards, Mastercard Easy Saving® ProgramCash flow management tools, online & mobile access, travel and emergency services, free access to business credit scores
BoA Platinum Plus® Business Mastercard® Competitive APR, employee cardsCash flow management tools, online & mobile access, travel and emergency services, free access to business credit scores
Amex Business Gold4X points on top 2 business categories, 1X points on other purchasesCash flow flexibility, expense management tools, travel benefits, additional services
Spark 2% Cash Plus BusinessUnlimited 2% cash back on every purchase, 5% cash back on hotels and rental cars booked through Capital One TravelFlexible underwriting, cards for every employee, seamless software integration
AAdvantage Platinum Select Travel benefits, mileage benefits, additional benefitsFirst checked bag free, preferred boarding, savings on inflight purchases
Divvy Corporate CardFlexible rewards programControl over rewards earnings, effortless management, various redemption options

When it comes to choosing the perfect credit card for your small entrepreneurial venture, it’s smart to consider some of the major cards specifically tailored to meet the needs of small business owners like yourself. Before we delve into the world of business credit and its intricacies, let’s take a closer look at the unique features and benefits offered by each of these top credit cards.

Recommended: What’s the Best Credit Card for a Small Construction Business? +TIPS 

1. Chase Ink Business Preferred

Startup business credit cards ein only

Credit Card: Ink Business Preferred® Credit Card

Issuer: Chase

APR: 20.99%–25.99% variable APR

Annual Fee: $95

Rewards Program:

  • Earn 3X points on shipping and other select business categories
  • Earn unlimited 1 point per $1 spent on all other purchases. Points do not expire as long as the account is open
  • Redeem points for cash back, gift cards, travel experiences, and more through Chase Ultimate Rewards
  • Get 25% more value when redeeming points for travel through Chase Ultimate Rewards
  • Earn 5X points on Lyft rides through March 2025

Benefits:

  • Employee cards at no additional cost, with individual spending limits
  • No foreign transaction fees
  • 1:1 point transfer
  • Travel and purchase coverage
  • Stay on top of your business with expense tracking tools
  • Referral program: Earn up to 200,000 points per year by referring other business owners to any Chase Ink® Credit Card

The Ink Business Preferred® Credit Card from Chase is a top choice for entrepreneurs looking for flexible and rich rewards. With a generous sign-up bonus, accelerated points earning in select business categories, and various redemption options, it provides value for business expenses. The card also offers additional benefits like no foreign transaction fees, point transfers, and purchase coverage. Positive customer reviews highlight its effectiveness for earning rewards and the overall satisfaction of cardholders.

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

2. BoA Mastercard Business Platinum

How much money do you need to make for your business to get credit line?

Credit Card: Platinum Plus® Mastercard® Business card

Issuer: Bank of America

APR: 0% introductory APR for the first 7 billing cycles, then a variable APR of 16.24% to 27.24%

Annual Fee: $0 

Benefits:

  • Employee cards at no additional cost: Get employee cards with credit limits set by you
  • Mastercard Easy Saving® Program: Automatic rebates when using the card at tens of thousands of locations across the U.S.
  • Cash flow management tools: Suite of online services for managing your business finances
  • Online and mobile access: Secure access to manage your account online 24/7
  • Travel and emergency services: Includes travel accident insurance, auto rental insurance, emergency ticket replacement, lost-luggage assistance, and more
  • Free access to business credit scores: View Dun & Bradstreet business credit scores within Business Advantage 360, Bank of America’s Small Business Online Banking platform
  • Security features: Zero liability protection, fraud monitoring, paperless statement option, and more
  • Balance Connect® for overdraft protection: Link your credit card to a Bank of America business checking account for overdraft protection

The Platinum Plus® Mastercard® Business card from Bank of America offers competitive features, including a 0% introductory APR, no annual fee, and a $300 online statement credit offer. It also provides benefits such as employee cards, access to the Mastercard Easy Saving® Program, cash flow management tools, travel and emergency services, free access to business credit scores, and various security features. This card can be a suitable choice for businesses looking for a straightforward credit card option with cost-saving benefits.

Recommended: Bank of America Corporate Cards: A Complete, Uncut Review 

3. Amex Business Gold

Best business credit cards for new business (Amex)

Credit Card: Amex Business Gold Card

Issuer: American Express

Annual Fee: $295

Rewards:

  • Earn 4X Membership Rewards points on the top 2 business categories where your business spends the most each billing cycle.
    • Airfare purchased directly from airlines
    • U.S. purchases for advertising in select media
    • U.S. purchases made directly from select technology providers
    • U.S. purchases at gas stations
    • U.S. purchases at restaurants (including takeout and delivery)
    • U.S. purchases for shipping
  • Earn 1X points on other select purchases made using the Business Gold Card.

Benefits:

  • Pay Over Time APR: APR on purchases will be a variable rate of 19.24% – 27.24%, based on creditworthiness and other factors at the time of account opening
  • Acceptance: American Express can be used at 99% of places in the US that accept credit cards
  • Expense management tools for better cash flow management
  • Travel benefits and additional services

The American Express Business Gold Card offers a competitive rewards program with the opportunity to earn 4X Membership Rewards points on the top 2 business spending categories each billing cycle. It also provides 1X points on other select purchases. With a special welcome offer of 100,000 Membership Rewards Points and various expense management tools, this card aims to provide flexibility and benefits for business owners. The card has a variable APR for purchases and is widely accepted across the US.

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

4. Capital One Spark 2% Cash for Business

How much of a business loan can I get with a 700 credit score?

Credit Card: Spark 2% Cash Plus

Issuer: Capital One

Annual Fee: $0

Rewards Program:

  • Unlimited 2% cash back on every purchase, everywhere, with no limits or category restrictions
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel

Benefits:

  • Pay-in-Full Charge Card: The balance must always be paid off in full every month
  • No Preset Spend Limit: Adapts to your needs based on spending behavior, payment history, and credit profile
  • Annual Fee Refund: Get your $150 annual fee refunded every year you spend at least $150,000
  • Business-Grade Capabilities: Empower your team with free employee and virtual cards, and easily pay vendors
  • Additional benefits include account management tools, employee access, travel benefits, service and protection features such as automatic payments, $0 fraud liability, year-end summaries, account managers, purchase records, and virtual card numbers

The Spark 2% Cash Plus card from Capital One offers excellent cash back rewards with unlimited 2% cash back on all purchases and 5% cash back on select travel bookings. With a one-time cash bonus of $1,200 and the option to earn an annual fee refund, this card provides significant value for business owners. It also includes various business-grade capabilities, such as employee cards, vendor payments, and a range of benefits and features to manage accounts and protect against fraud.

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

5. AAdvantage Platinum Select 

Can I get a start-up business loan with 500 credit score?

Credit Card: AAdvantage® Platinum Select® World Elite Mastercard®

Issuer: Citibank

Annual Fee: $0 intro annual fee for the first year, then $99

Rewards:

  • AAdvantage® Miles: Earn miles from purchases
  • Loyalty Points: Earn 1 Loyalty Point for every 1 eligible mile earned from purchases

Benefits:

  •  First checked bag free on domestic American Airlines itineraries for you and up to 4 travel companions on the same reservation (savings of up to $300 per round trip)
  • Preferred boarding on American Airlines flights
  • 25% savings on inflight food and beverage purchases on American Airlines flights when you use your card
  • Variable APR for purchases and balance transfers: 20.99% – 29.99% based on creditworthiness.
  • No foreign transaction fees

The Citi® AAdvantage® Platinum Select® World Elite Mastercard® offers travel benefits, including a free checked bag, preferred boarding, and savings on inflight purchases. You can earn AAdvantage® miles and loyalty points for eligible purchases. The card has a variable APR for purchases and balance transfers, and there are no foreign transaction fees. The annual fee is $0 for the first year, then $99*.

Recommended: Should You Open a Citibank Commercial Card Account?… It Depends! 

6. Divvy Corporate Card 

Best business credit cards for startups with bad credit

Credit Card: Divvy Corporate Card

Issuer: Divvy

Annual Fee: $0

Rewards: 

  • Earn up to 7x points by paying off your balance more frequently
    • Weekly: 7x points on restaurants
    • Semi-Monthly: 5x points on hotels
    • Monthly: 2x points on recurring software subscriptions
    • 1.5x points on everything else
  • Unlimited Earnings: Earn rewards points daily with no cap and no expiration.
  • Effortless management: Track and redeem points easily through the rewards dashboard.
  • Boost your ad spend: Earn up to 2.25% cash back on advertising spend through Divvy, with no limit on earnings.
  • Flexible rewards redemption options: Cash back, gift cards, statement credit, and Divvy Travel partnership for double the point value and industry-leading rates.

Benefits: 

  • Free, fast, and flexible business credit with credit lines up to $15M
  • Credit line scales with your business, with the ability to apply for credit line increases
  • Flexible underwriting options based on your business’s unique needs
  • Cards for every employee with proactive spend controls
  • Seamless software integration with desktop software and highly-rated mobile app
  • Advanced fraud protection for secure transactions

The Divvy Corporate Card is a free business credit card that offers fast and flexible funding options for businesses of all sizes. With its simple online application process, businesses can access credit lines up to $15M. The card scales with your business and offers flexible underwriting options to fit your needs. Divvy provides cards for every employee, seamless software integration, and advanced fraud protection. Additionally, businesses can earn rewards based on payment frequency. The Divvy Corporate Card is a valuable tool for managing business expenses and streamlining financial operations.

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

How to Build Credit for a New LLC or Business with No Credit History

Startup business credit cards no personal guarantee

If you’re eager to build your business credit fast, I’ve got some great insights for you! Building solid business credit can open up funding options beyond your personal credit limits and even help you secure lower insurance rates.

But before we dive in, let’s address some commonly asked questions about business credit. Can you use your EIN (Employer Identification Number) to apply for credit? Absolutely! 

As long as you have an EIN assigned by the IRS, you can use it for business credit applications. Getting a business credit card isn’t as hard as you might think. With a high business credit score, you’ll have no trouble securing one. While some business credit cards may do a soft or hard pull on your personal credit, there are others that don’t. 

And yes, an LLC can have a credit score! With an EIN and a DUNS number from Dun & Bradstreet, your LLC can have a credit score separate from your personal credit score.

Now, let’s jump into the steps to build business credit quickly. Remember, just like with personal credit, paying your debts on time is crucial for maintaining a good score. 

Here’s a breakdown of the steps:

  1. Form your business — Just like laying a strong foundation for a building, you need to properly form your business. Choose a neutral business name that allows for flexibility in funding options. Once you settle on a name, try to stick with it to show stability. Decide how you want to establish your business entity, whether it’s through an attorney, an online service, or manually with your local Secretary of State
  2. Get your company “business credit ready” — Think of this step as adding a rough frame to your business. Establish a physical address (avoid using P.O. boxes), get the necessary business insurance if required, obtain any required business licenses, and create a strong online presence with a website and domain. Listing your business in relevant directories adds credibility and trustworthiness.
  3. Network with local banks — Networking is vital, whether in buildings or business credit. Attend local Chamber of Commerce events if possible, or network online with local professionals to build connections. Research local banks and credit unions to understand their financing programs and underwriting processes.
  4. Setup business credit profiles — This step involves setting up insulation for your business. Establish a business credit profile with Dun & Bradstreet (D&B) to obtain your PAYDEX score, which is a crucial business credit score. Monitor your Equifax and Experian business credit scores for free, fixing any inaccuracies you come across. Utilize business credit monitoring services like Nav to stay on top of your credit profile.
  5. Build small trade lines of credit — Here’s where we add the finishing touches to make your building habitable. Establish small tradelines of credit, which are credit accounts with vendors or suppliers. These tradelines play a significant role in solidifying your business credit. Secure credit with suppliers and make timely payments to build trust and a positive credit history.

By following these steps, you can accelerate the process of building your business credit. We teach the full, 7-step process to build business credit in Business Credit Workshop. 

Now, find out what you can do if your credit needs some work. 

What if You Have Bad Credit? 

Can I start a business with 700 credit score?

If you’re wondering if personal credit affects business, it does. So, before you apply for large lines of business credit, it’s important that you clean up your personal credit score. 

Here’s my best advice to clean up bad personal credit. 

  • First, educate yourself. Gain knowledge about credit repair strategies and consumer protection laws that can work in your favor. Understanding the credit reporting system will help you navigate the process more effectively.
  • Next, identify errors. Carefully review your credit reports for any inaccuracies, incomplete information, or unfair items. These errors are common and can have a negative impact on your credit score. Disputing and resolving these issues is crucial.
  • And, take action! — This is key and may include sending dispute letters to creditors and credit bureaus, requesting the removal or update of erroneous information. Follow step-by-step tutorials and utilize letter templates provided in credit repair resources.
  • Furthermore, take advantage of legal loopholes. Learn about the consumer protection laws that safeguard your rights. This knowledge can empower you to file small claims lawsuits against creditors, credit bureaus, or collection agencies if they have violated these laws. Seek legal advice when necessary to understand the best course of action.
  • Then, as you make changes, maintain good financial habits. Focus on making on-time payments, reducing debt, and managing your credit responsibly. Avoid common credit mistakes, such as late payments, high credit utilization, opening multiple accounts simultaneously, relying too heavily on one type of credit, and neglecting to review your credit report for inaccuracies.
  • Finally, seek professional help if needed. While credit repair resources like books and online communities can provide valuable insights, it’s always wise to consult with professionals, such as credit counselors or attorneys, for specific legal advice or guidance tailored to your situation.

Remember, cleaning up your personal credit takes time and effort. Stay committed and patient as you work toward improving your financial health and credit scores.

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

What if Your Business Has Bad Credit? 

Secured business credit card

So, let’s talk about fixing your not-so-great business credit in a way that’ll make you feel optimistic about the future. There could be a few reasons why your business credit isn’t where you’d like it to be. Maybe you had some hiccups in the past, like late payments, debts piling up, or even unfortunate situations like liens or bankruptcy.

 But hey, don’t fret! You have the power to turn things around.

Now, when it comes to your credit score, one important thing to consider is the Paydex score from Dun & Bradstreet (the main business credit bureau). It’s like a report card that ranges from 0 to 100 — The higher your score, the better your creditworthiness. If your business credit isn’t so hot right now, your Paydex score might be on the lower side. But fear not, my friend, because there’s a way to fix it so that you don’t have to rely on those high-interest business credit cards for bad credit. 

So, how do you get started on the road to credit recovery? 

Let’s break it down in a way that’s easy to understand:

  1. Become a champion of timely payments — One of the biggest factors in improving your credit is paying your bills on time. It’s like scoring a winning goal in the game of credit. Make it a priority to pay your suppliers, vendors, and lenders right on schedule, or even earlier if you can. Timely payments are key to boosting your creditworthiness.
  2. Tackle those overdue accounts — If you have any lingering debts or accounts that are past due, it’s time to face them head-on. Develop a plan to pay off those outstanding balances as soon as possible. Don’t be afraid to negotiate payment arrangements or settlements with your creditors. You’ll feel a weight lifted off your shoulders once those accounts are squared away.
  3. Say bye-bye to high debt levels — Picture this: your debt levels dropping like confetti at a celebration. It’s a beautiful sight, isn’t it? High levels of debt can drag down your credit score, so it’s important to reduce those balances. Make consistent payments and resist the temptation to take on unnecessary new debt. Gradually, you’ll see that credit score start to rise.
  4. Build friendships with credit-worthy partners — Relationships matter in business and credit building is no exception. Seek out vendors and suppliers who are willing to report your stellar payment history to credit bureaus. It’s like having cheerleaders in your corner, rooting for your credit success. These positive credit relationships can work wonders in improving your creditworthiness. You might consider working with a credit broker (proceed with caution), but I am more inclined to recommend a business credit consultant or coach. 
  5. Embrace the power of a fresh start — In some cases, if your current business has deep-rooted credit issues, starting anew might be the way to go. It’s like hitting the reset button and getting a chance to build a shiny new credit profile. Just remember, starting a new business comes with its own considerations, so consult with the experts to figure out the best approach for your situation.

Remember, improving your credit takes time and dedication. But don’t be discouraged! — With each positive step you take, you’re moving closer to a brighter credit future. So roll up those sleeves, put on your optimistic mindset, and let’s get to work on fixing that business credit of yours. 

The future is looking mighty bright!

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

Frequently Asked Questions

What is good credit for small business owners?

A Paydex score between 70-80 is a strong score that can be considered “creditworthy” by business lenders. 

How can I get a 100 business credit score?

By having several positive reporting tradelines, you can get a perfect (100) Paydex score. But, this isn’t a common or believable score for a business to have. 

How good does my credit need to be to get a business loan?

Nearly any business with income can get a business loan. Even with a low business credit score, most companies can qualify for merchant cash advances, factoring, and other alternative loans. The higher your credit score, the more likely you are to qualify for business loans with lower rates and more favorable features and rewards. 

What credit score does a business start with?

The minimum credit score (Paydex) for a business is zero — Scores are calculated on a scale of 0-100. If you have no reporting tradelines, you will not have a credit score. You can use net 30 accounts and gas cards to establish your business credit score. 

Final Takeaway

Business credit is a tool that can help you improve your cash flow to grow your company in invest in your future The cards listed here are some of the most popular business credit cards for entrepreneurs — Each has its own set of pros and cons. 

  • The Chase Ink Business Preferred offers a generous rewards program and travel benefits, making it an attractive choice. 
  • If comprehensive travel insurance coverage is a priority, the Mastercard Business Platinum is a great option to explore. 
  • For those seeking flexible rewards and bonus categories tailored to common expenses, the American Express Business Gold is worth considering. 
  • The Capital One Spark Cash for Business provides unlimited 2% cash back on all purchases, offering simplicity and value. 
  • If you’re a frequent flyer with American Airlines, the CitiBusiness/AA Advantage Platinum Select offers travel benefits and rewards specifically designed for American Airlines customers. 
  • Lastly, the Divvy Business Card streamlines expense management and budget controls, making it an efficient choice for businesses. 

With these options in mind, you can choose the business credit card that aligns with your specific needs and preferences.

If you want to learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today.

What’s the Best Credit Card for a Small Construction Business? +TIPS

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Best credit card for small construction business

Taking control of your finances is vital for small construction businesses. And, guess what? A business credit card can be a game-changer. Here, we’re diving into the world of credit cards tailored specifically for small construction businesses. We’ll uncover the top contenders, highlight their awesome features, and even tackle those burning questions you have about credit cards for contractors, independent contractors, and self-employed folks. 

But first, let me give you a sneak peek of the cards…since that’s what you came here for! 

Introducing the best business credit cards for small construction businesses:

Amex Business PlatinumCapital One Spark Cash SelectBrex Corporate Card Chase Ink Business Unlimited
Key Benefits:Robust rewards program and expense managementFlexible rewards and business management toolsTailored for startups with no personal guaranteeWide range of card options and rewards

Note, that these are the most popular credit cards available from big banks. And, while I don’t have anything against them, you can sometimes obtain a lot more credit (hundreds of thousands of dollars) when you have a relationship with a small community bank or credit union — which is precisely what we teach at Business Credit Workshop. 

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

Let’s dive in a bit deeper to learn more about each card above, then explore some information and advice that can help you get even more from your business credit profile. Get ready to level up your financial game!

Here’s what’s in store: 

Now, let’s dive in. 

Best Credit Cards for Small Construction Businesses

When it comes to selecting the best credit card for your small construction business, it’s a good idea to explore major cards that are designed to cater to small business owners with operations like yours. Before we get into the tricks of the trade (business credit), see what each of these top cards has to offer. 

1. American Express Business Platinum

Best small business credit card for construction

The Business Platinum Card from American Express is a credit card designed for businesses. It has an annual fee of $695. By spending $15,000 on eligible purchases within the first 3 months, you can earn 130,000 Membership Rewards Points. This offer is subject to availability and may not be available if you leave the webpage and return later.

With the Business Platinum Card, you can earn points on your purchases. You’ll earn 5X points on flights and prepaid hotels booked on AmexTravel.com, 1.5X points on eligible purchases in key business categories and on eligible purchases of $5,000 or more everywhere else, and 1X points on other eligible purchases.

The card also offers various benefits. You can get statement credits for select purchases, such as $200 back semi-annually for U.S. purchases with Dell Technologies, $90 back per quarter for purchases with Indeed, $150 back per year for select business subscription purchases with Adobe, and $10 back monthly for select purchases with U.S. wireless phone service providers.

Additionally, the card provides access to the Global Lounge Collection, offering access to more than 1,400 airport lounges across 140 countries. You can receive up to $200 in airline fee credits per year, enjoy benefits like Clear membership, and get 35% points back when using points for eligible flights booked through Amex Travel.

Other perks include hotel benefits, premium car rental privileges, and various travel insurances. The card also offers cash flow flexibility with a Pay Over Time option and has no preset spending limit. Expense management features include employee cards, QuickBooks integration, online statements, account alerts, and a year-end summary.

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

2. Capital One Spark Cash Select

Best credit card for construction business

The Spark 1.5% Cash Select card is an excellent business credit card offered by Capital One. With this card, you can earn unlimited 1.5% cash back on every purchase for your business, without any limits or category restrictions. It’s a great way to maximize your rewards and get some extra cashback.

The best part? There’s no annual fee for this card, so you can enjoy the big rewards and cash bonus without any additional costs. Capital One also offers additional cash-back rewards of 5% on hotels and rental cars booked through Capital One Travel, adding even more value to the card.

Redeeming your cash-back rewards is easy too. You can cash them in for any amount at any time, and they don’t expire for the life of the account. It’s a flexible and convenient way to enjoy the benefits of your hard-earned rewards.

In terms of the interest rate, the variable APR for purchases ranges from 18.24% to 24.24%, depending on your creditworthiness. As always, it’s important to manage your credit responsibly and pay off your balances in full to avoid any interest charges.

The Spark 1.5% Cash Select card also comes with a range of benefits to make managing your business easier. You can conveniently manage your accounts online, provide employee access, enjoy travel services, set up automatic payments, and benefit from $0 fraud liability in case your card is lost or stolen. Additionally, you’ll receive year-end summaries for simplified budgeting and tax time, and the option to assign an account manager to handle purchases and payments.

When it comes to applying for this card, the process is quick and straightforward. It only takes about 10 minutes to complete the application, and you’ll receive a decision within seconds. Just make sure to have the necessary information on hand, such as the legal names, addresses, and Social Security Numbers of all business owners, as well as your business’s legal name, address, and tax ID number.

The Spark 1.5% Cash Select card has received positive reviews from customers, with an overall rating of 4.4 out of 5 stars based on 946 reviews. The majority of reviewers highly recommend this card, which speaks to its value and benefits.

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

3. Brex Business Corporate Card

Best credit card for independent contractors

Accepted worldwide, the Brex Corporate Card provides both physical and virtual cards on the reliable Mastercard network. And with the highly rated 5-star app available on iOS and Android, you can manage your card effortlessly from your phone. Features like Apple Pay integration, card cancellation, and spend monitoring are all conveniently accessible in one place.

What sets the Brex Corporate Card apart is its rewarding nature. Earn up to 7x back on your spending and redeem your rewards for cash back, credits, or even billboards. This enables you to maximize your benefits and get more value from your expenses.

With credit limits tailored to your business, you can enjoy a card limit that suits your needs based on financial factors such as revenue or funding raised. This flexibility ensures that your card aligns with your business’s financial capabilities.

The Brex Corporate Card is not just a single-purpose card; it caters to various business needs. Enable spend for travel, procurement, and more with worldwide card acceptance. Additionally, Brex offers specialized cards for travel and entertainment expenses, vendor expenses, purchase cards, benefits cards, and more. The flexibility to customize spend limits for specific purposes ensures that your policies are enforced with every card swipe.

Expense management is simplified with the Brex Corporate Card. It automatically collects itemized receipts compliant with IRS or local tax laws, generates memos, and categorizes expenses to the right general ledger and/or project. Real-time expense tracking allows you to monitor card limits and expenses in real-time, increasing accountability. It’s an all-in-one solution that streamlines your expense reporting process.

Best credit card for handyman

Brex offers local cards in over 20 currencies, allowing you to conduct operations locally wherever you do business. The comprehensive global features enable you to manage your company’s credit limit, subsidiary-specific limits, expenses, and billing in one console, reducing risk and increasing control. By issuing cards in employees’ local currencies and enabling subsidiaries to pay statements from their local bank, you can avoid intercompany transactions and foreign exchange fees.

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

4. Chase Ink Business Preferred

Chase ink business preferred credit card for construction

Chase’s Ink Business Unlimited® Credit Card might be the perfect credit card solution for your business. With the Ink Business Unlimited card, you can enjoy a range of benefits designed to maximize your rewards and simplify your financial management.

With the Ink Business Unlimited card, you’ll earn unlimited 1.5% cash back on every purchase made for your business. Whether it’s office supplies, equipment, or other business expenses, you can earn cash back on all of your transactions. Plus, there’s no annual fee, ensuring that you can enjoy the benefits without any additional costs.

To give you even more value, the Ink Business Unlimited card offers a 0% introductory APR for 12 months on purchases. This allows you to make business purchases and pay them off over time without accruing interest. After the introductory period, the variable APR will be between 18.24% and 24.24%, based on your creditworthiness.

Redeeming your rewards is a breeze with the Ink Business Unlimited card. You can choose to redeem your cash back rewards for cash, gift cards, travel, and more through Chase Ultimate Rewards®. This flexibility allows you to use your rewards in a way that suits your business needs.

Another great feature of the Ink Business Unlimited card is the option to add employee cards at no additional cost. These employee cards not only help you manage your expenses but also enable you to set individual spending limits for each employee. This allows you to keep track of spending while giving your employees the ability to earn rewards on their purchases

Finally, for those who frequently use Lyft, the Ink Business Unlimited card offers an exciting benefit. Earn a total of 5% cash back on Lyft rides through March 2025. This includes an additional 3.5% cash back on top of the 1.5% you already earn on travel purchases, making it a valuable perk for business travelers.

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

Most Useful Credit Card Features for Small Construction Businesses

Can you use credit card for contractors?

As I said before, the cards above are just some of the offers that are great for small construction businesses like yours. And, there are virtually hundreds of credit cards you might apply for, based on your stage in business, credit profile, and your financial health. 

I always recommend you do your due diligence (which you’re doing now — good job!) to find the right card for your situation. Still, there are some super valuable credit card features that you should be looking for.  

When it comes to credit for your construction business, you can get the most from a card with the following features: 

  1. Robust expense tracking — Construction businesses deal with many expenses that require effective management. When choosing a credit card, prioritize those with handy expense-tracking features. Look for cards that provide detailed transaction descriptions, spending categories, and downloadable reports. These tools will simplify the task of monitoring and analyzing your expenses, making your bookkeeping process a breeze.
  2. Flexible credit limits — Construction projects come in all shapes and sizes, each with its unique scale and cost. To meet the ever-changing financial requirements, it’s crucial to have a business credit card with a flexible credit limit. This flexibility ensures that you have the necessary purchasing power to cover expenses like materials, equipment, and other project-related costs. Having a credit card with a flexible credit limit allows you to adapt to the varying financial demands of your construction projects effectively.
  3. Rewards on construction-related spending — When searching for a credit card for your construction business, keep an eye out for rewards or cash-back programs specifically tailored to construction-related spending. Some cards offer enhanced rewards for purchases made at hardware stores, home improvement retailers, or building material suppliers. By maximizing these rewards, you can offset costs and enjoy additional benefits. It’s a smart way to make the most out of your business expenses while you get more value from your card.
  4. Introductory offers — You’ll find that many business credit cards come with enticing introductory offers that can be quite valuable for your construction business. These offers may include bonus rewards points, statement credits, or even waived annual fees for the first year. Taking advantage of these introductory perks can provide you with significant value, especially when you’re starting or expanding your construction business. It’s a great way to give your business a financial boost and maximize the benefits of your credit card.
  5. Expense management tools — Managing expenses effectively is of utmost importance for construction businesses. When choosing a credit card, it’s essential to look for one that offers comprehensive expense management tools. These tools can include handy features like mobile apps, receipt capture capabilities, and integration with accounting software. By utilizing these tools, you can streamline the process of tracking expenses, monitor your finances in real time, and seamlessly manage your financial operations. It’s a smart way to stay on top of your expenses and ensure efficient financial management for your construction business.
  6. Business-specific benefits — Certain credit cards provide extra perks specifically designed for construction businesses. These benefits can be quite advantageous and may include discounted rates on equipment rentals, exclusive access to construction industry events or trade shows, or special partnerships with suppliers offering favorable rates or exclusive deals. These tailored perks are aimed at supporting and enhancing the operations of construction businesses, providing valuable advantages that can contribute to their success.

Remember, the best business credit card features for your construction business may vary depending on your specific needs and preferences. Evaluate your business’s spending patterns and requirements to choose a credit card that offers the most relevant and valuable features for your construction operations.

How to Build Business Credit to Access More Funding

Did you know that you can actually build business credit in as little as 30 to 90 days? And, with a perfect business credit score, you can access higher amounts of funding? Business credit is a great channel to grow and scale your business, invest, and pay for emergencies. 

In brief, here’s how to build business credit fast: 

First, you need to form your business. Establish a proper business entity, choose a neutral business name and category, and decide on the best method to establish your business entity.

Next, it’s important to get your company “business credit ready.” Set up a physical address, obtain necessary business insurance and licenses, establish an online presence, list your business in relevant directories, and open a business bank account.

Then, you’ll want to network with local banks. Attend local Chamber of Commerce events or network online to build relationships with bankers and financial professionals. Research financing programs offered by local banks and credit unions.

Recommended: ​​3 Best Credit Unions for Small Business Banking in 2023 

After that, set up business credit Profiles: Establish business credit profiles, such as a PAYDEX score from Dun & Bradstreet (D&B), by obtaining a DUNS number. Monitor your Equifax and Experian business credit scores for accuracy using services like Nav.

Finally, you have to develop small tradelines of credit and net 30 accounts that report your on-time payments to business credit bureaus. Consider using gas cards and store cards, ensuring that payments will be reported.

By following these steps, you can lay the foundation for a strong business credit profile and access better funding options for your business.

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

Frequently Asked Questions

Can I get a business credit card with a 1099?

Yes, you can get a business credit card with a 1099. Many credit card issuers consider 1099 income as eligible for credit card applications. However, specific requirements may vary among different credit card providers. A 1099 is not like an EIN and will not qualify you for business credit on its own. It’s always best to check each lender’s individual policies.

Is being an independent contractor the same as owning a business?

In short, no, but only because most independent contractors operate as an individual. However, independent contractors and self-employed individuals can obtain business credit if they create a business entity and structure their businesses properly. 

Do business credit cards verify income?

Yes. Most business credit lenders verify income. There are a few outliers, but your income and/or assets will almost always play into a credit decision. Some lenders look at cash flow and revenue while others might look at collateral (cash on hand) during the underwriting process. 

What is the 5/24 rule?

The 5-24 rule is a guideline used by Chase and some other credit card issuers. It states that if you’ve opened five or more credit card accounts within the past 24 months, you may be ineligible for certain Chase credit cards.

Conclusion

Picking the perfect credit card for your small construction business can work wonders for your financial management and score you some awesome perks. We’ve got your back with options like American Express, Capital One, Brex, and Chase, all geared toward meeting your unique business needs.

But hold up, there’s more to the credit card game! We’re here to demystify credit cards for contractors, independent contractors, and self-employed folks. We’ll answer your burning questions and equip you with the knowledge you need to make savvy financial decisions for your growing business.

But hey, getting a credit card is just the first step. If you’re serious about leveling up your small construction business and snagging up to $100,000 in business credit fast, we’ve got a killer recommendation. Join Business Credit Workshop and tap into our expertise. We’ll teach you insider strategies and techniques to skyrocket your business credit journey. Get ready to take charge of your finances and make some serious waves in the construction industry!

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

Should You Hire a Business Credit Consultant

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BUSINESS CREDIT CONSULTING

Empower Your Business with Tailored Credit Solutions

Improve Cash Flow & Financing With a Skilled Business Credit Consultant

Accelerate your business’s financial success with our specialized business credit coaching. Let us assess your company’s creditworthiness, develop targeted strategies, and provide actionable guidance to optimize your credit profile. 

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Joe really knows his stuff!

“With Joe’s help, I obtained $320,000 in unsecured business credit.  It’s super powerful and now I’m able to expand my business…

…I did the step-by-step tasks, and it works!”

Sergey D.

Parker Management LLC

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Maximize Your Financial Strategy with Expert Credit Consultation


Enhance Your Credit Profile
Evaluate your current credit profile, identify areas for improvement, and develop strategies to enhance your creditworthiness.

Get Access to Funding 
Identify the best funding sources, improve your loan applications, and increase your chances to secure the funding your business needs..

Improve Business Cashflow 
Optimize your cash flow management strategies and get advice on techniques to shorten your cash conversion cycle and reduce penalties.

Negotiate Ideal Terms
Learn negotiation tactics and industry knowledge to help you land more favorable terms with suppliers, creditors, and lenders.

Mitigate Common Risks
Conduct a thorough credit risk assessment to minimize credit-related risks that can arise when you try to navigate business credit alone.

Save Time and Resources
Save valuable time and resources — Instead of mulling through the complex credit landscape, rely on expertise to focus on the most productive tasks.

Get Expert Guidance
Learn about credit management best practices to maintain a strong credit profile and cultivate a credit-conscious culture within your organization.

Start Optimizing Your Business Credit Today 

Hire a leading business credit consultant to provide you with valuable insights, actionable strategies, and personalized guidance to maximize your credit profile. Increase funding opportunities and improve your business’ financial stability.

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Do you need a business credit consultant?

Managing credit is vital for businesses seeking financial stability and growth. But, the complex world of business credit can be challenging — you often need expert guidance to navigate it. Here, I’ll explore the role of business credit consultants and give you some insights into whether hiring one is the right choice for your specific needs. 

Whether you’re in search of a business credit consultant in your area, interested in building business credit, negotiating business credit cards, or understanding the benefits and drawbacks of credit consultants, this article will give you all the information you need.

What Does a Business Credit Consultant Do? 

A business credit consultant specializes in helping businesses improve their credit profiles and access financing. 

They can help business owners by providing various customized services: 

  • Credit status evaluation
  • Credit-building strategy development
  • Connecting businesses with vendors and suppliers offering trade credit
  • Suitable financing option identification 
  • Documentation and application assistance
  • Business credit education  

Their expertise lies in credit scoring systems, lending practices, and creditor requirements. And, they work alongside business owners to enhance creditworthiness and facilitate access to funding.

Signs You Might Need a Business Credit Consultant

Not everyone needs a business credit consultant…but many do. 

Here are some indicators that your business could benefit from the expertise of a business credit consultant:

  • You have limited access to credit — If your business is struggling to obtain credit or is limited to low credit limits, a credit consultant can help you improve your creditworthiness and access larger lines of credit.
  • Your business has a lack of credit history — If your business has a limited or nonexistent credit history, a credit consultant can guide you in establishing a strong credit profile by building trade lines and diversifying credit sources.
  • Business loan applications have been denied — If your business consistently faces rejections when applying for loans or financing, a credit consultant can evaluate your credit profile, identify weaknesses, and provide strategies to increase your chances of approval.
  • Your existing accounts have high interest rates — If you’re paying high interest rates on loans or credit, a credit consultant can help you improve your credit profile, potentially qualifying you for lower rates and better terms.
  • You depend on personal credit to fund your business — If your personal credit is heavily relied upon for business expenses, a credit consultant can assist in separating your personal and business credit, protecting your personal credit score, and providing strategies to establish independent business credit.
  • Your credit report is Inaccurate — If you suspect errors or inaccuracies on your business credit reports, a credit consultant can help you identify and correct these mistakes, ensuring accurate information that reflects positively on your creditworthiness.
  • You have a need for funding or growth — If you’re planning to expand your business or require additional funding, a credit consultant can develop strategies to optimize your credit profile, increase lending options, and improve your chances of securing the necessary funds.
  • You have a lack of credit management knowledge — If you’re unsure about credit management best practices, credit scoring systems, or how to navigate the complex landscape of business credit, a credit consultant can provide education and guidance to help you make informed decisions.

In these situations, a credit consultant with expertise in business credit can provide valuable insights, customized strategies, and assistance to overcome credit challenges and improve your business’s financial standing.

Factors to Consider Before Hiring a Business Credit Consultant

Before you hire a business credit consultant, you need to look at expertise, reputation, location, cost, and understand the services they offer.

  • Assess their experience and qualifications in business credit.
  • Research their reputation through reviews and testimonials — In addition to looking at Google reviews and Trustpilot, ask around on anonymous sites like Reddit for uncensored experiences. 
  • Decide if a local or remote consultant is preferred.
  • Evaluate their pricing structure and fees.
  • Ensure they provide the specific services your business needs.

And, if you need a consultant to negotiate business credit, there are a few more items to look at. 

  • Look for a consultant with a proven track record in negotiating business credit.
  • Verify their understanding of the credit card industry.
  • Assess their ability to negotiate favorable terms.
  • Evaluate their fees relative to potential savings.
  • Consider client feedback that specifically mentions their negotiation services.

Considering these factors will help you select the right consultant for your business credit needs.

Debunking Myths: Is Business Credit Real?

Business credit is indeed real and plays a crucial role in financial management. 

So, let’s debunk some common myths:

  • Myth #1: Business credit is the same as personal credit. 
    • Reality: Business credit and personal credit are separate entities. Establishing business credit requires building a credit profile specifically for your business, distinct from your personal credit history.
  • Myth #2: Only large corporations need business credit.
    • Reality: Businesses of all sizes can benefit from building business credit. It helps demonstrate credibility, secure better loan terms, attract suppliers, and separate personal and business finances.
  • Myth #3: Business credit is not necessary if I don’t need a loan.
    • Reality: Even if you don’t currently require financing, establishing business credit is essential. It opens doors for future borrowing needs, enhances business credibility, and allows for favorable vendor terms or leases.
  • Myth #4: Personal credit doesn’t affect business credit.
    • Reality: While separate, personal credit can impact business credit, especially for small businesses or sole proprietors without a well-established business credit history. Lenders may consider personal credit when evaluating the creditworthiness of a business.
  • Myth #5: Business credit is only based on revenue.
    • Reality: Business credit is determined by a range of factors, including payment history, credit utilization, industry risk, years in operation, and public records. Revenue alone is not the sole basis for establishing business credit.

It is important to recognize business credit as a legitimate and vital component of financial management — Building and maintaining a strong business credit profile can help your business thrive, gain access to financing, negotiate favorable terms, and establish a solid reputation in the marketplace.

Alternatives to Hiring a Business Credit Consultant

Before you hire a business credit consultant, you should know that you’ve got options. Some popular choices are business credit courses and workshops, business credit builders, and diy business credit building. 

Let’s look a bit closer at each of these options. 

1. Business Credit Courses and Workshops

Business Credit Workshop helps small business owners and startups obtain large lines of unsecured business credit. We offer guidance on obtaining business credit cards that don’t appear on personal credit reports, accessing unsecured business lines of credit with no documentation, and getting loans for both new and established companies. 

Business Credit Workshop provides online workshops, personal coaching, and a simple three-step approval process for obtaining business credit. We also offer case studies, education, and free guides. Joe Lawrence, the founder, is a leading business credit coach and investor who helps small business owners obtain business credit and teaches methods to develop a strong business credit profile. 

Business Credit Workshop is based in Somerset, New Jersey, and offers services to businesses nationwide.

To learn how you can get up to $100K in business credit in as few as 30 days, join BCW online. 

2. Business Credit Builders

Business credit builders are services or programs designed to help businesses establish and improve their credit profiles. They focus on building a strong credit history, which can enhance a business’s credibility, borrowing capacity, and access to favorable financing terms.

One notable credit builder program is the Dun & Bradstreet Credit Builder. Dun & Bradstreet is a leading provider of business credit information and solutions. Their Credit Builder program allows businesses to establish a credit file and obtain a DUNS number, which is a unique identifier. By registering with Dun & Bradstreet, businesses can start building a credit profile and track their creditworthiness over time.

Recommended: Everything You Need to Know About a DUNS Number

The Dun & Bradstreet Credit Builder offers services such as credit monitoring, credit alerts, and access to business credit scores. This program enables businesses to proactively manage their credit and take necessary steps to improve it, such as making timely payments, maintaining low credit utilization, and ensuring accurate business information.

In addition to Dun & Bradstreet, there are other notable credit builder programs available. Some of these include Experian’s Business Credit Advantage, Equifax Small Business Credit Builder, and NAV Small Business Boost. These programs provide similar services, helping businesses establish credit profiles, monitor credit activity, and access resources for credit improvement.

Recommended: The Ultimate Tillful Review

By participating in credit builder programs like those offered by Dun & Bradstreet and other providers, businesses can take proactive steps to establish and improve their credit. This, in turn, can open up opportunities for better financing options, partnerships, and overall business growth.

3. Tradelines and Business Credit Cards

Using business credit cards helps build credit and establish a favorable credit history. 

Choose cards that report to business credit bureaus like Dun & Bradstreet. Popular credit card options include Chase Ink, Amex Business Platinum, Capital One Spark, and Discover it Business. Use cards responsibly, make timely payments, keep credit utilization low, and pay attention to balances. This improves creditworthiness and increases access to financing opportunities.

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

Net 30 accounts that report to credit bureaus are also beneficial for business credit building when they report to business credit bureaus — not all net 30 accounts report payment history. 

Recommended: 41 Companies That Help Build Business Credit

Is it Worth it to Pay a Business Credit Consultant? 

While managing credit can be complex, hiring a business credit consultant can provide the expertise and guidance needed to navigate this landscape successfully. Whether you’re seeking assistance with negotiating business credit cards, building business credit, or improving your credit score, a knowledgeable coach or mentor can help you achieve your goals. 

However, it’s essential to weigh the benefits, cost, and alternatives before making a decision. By understanding the role of credit consultants and conducting thorough research, you can choose the path that best suits your business’s credit management needs.

If you want to learn how to obtain up to $100K in as little as 30 days, join Business Credit Workshop. 

To get customized, one-on-one support from a business credit expert, apply to work with Joe. 

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Join Business Credit Workshop →

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