business credit cards

Amazon Business Prime Credit Card: Full Review +How to Get One

The Amazon Business Prime Credit Card has been around for awhile now, and it’s convenient for business spending with Amazon, AWS, and Whole Foods. But, that isn’t the only reason why you would want one. Here, I’ll lay out the card benefits in full and explain how to get a business credit offer from Amazon and Amex.

For those who already have the card, I’ll explain how to get the most rewards with your spending and answer some common questions.

Here’s what’s in store:

What is the Amazon Prime Business Credit Card?
- Amazon Company Overview
Amazon Business Prime Credit Card Summary
Frequently Asked Questions
Wrapping Up

Let’s roll!

What is the Amazon Prime Business Credit Card?

The Amazon Business Prime Card is like a VIP pass for your business expenses. With no annual fee, you can snag a $125 Amazon.com Gift Card just for getting approved—nice, right?

The more you spend at Amazon Business, AWS, Amazon.com, and Whole Foods Market, the more you earn back, like 5% back or 90-day terms on eligible purchases with a Prime membership – Dining out, filling up at gas stations, and handling phone bills also get you some sweet 2% back. Everything else? You still get a cool 1% back.

Plus, the perks include:

No foreign transaction fees
Expense management tools
Baggage insurance for your travels

It’s like your business’s new best friend with benefits!

You might also like: Amazon Corporate Credit Line – The Ultimate Guide

Amazon Company Overview

If you haven’t heard of Amazon, it would surprise me. Still, for the sake of staying true to my comprehensive nature, here’s a quick rundown.

Amazon is the big dog of online everything…It started as a humble online bookstore in ’94, and look at it now—like the Godzilla of e-commerce. From A to Z, they’ve got it all, and I mean everything: Books, gadgets, groceries, cloud computing, streaming, you name it.

The founder, Jeff Bezos, turned a garage project into a tech empire over the course of the past 30 years. Fast shipping? Hello, Prime! They even got drones in the game. With fingers in so many pies, it’s hard to imagine a world without that iconic smiling arrow.

Amazon is a seattle-based company that now has a ton of subsidiaries including Xoox (future driverless, electric taxis), Whole Foods, Twitch, and IMDB.

The current CEO, Andy Jassy, had been with the company since 1997, founded AWS in 2006, and took over Amazon Inc. when Bezos stepped down in 2021.

At this point, there aren’t many industries Amazon doesn’t have their hand in. Still, their business credit card is serviced by Warren Buffet’s American Express (a Berkshire Hathaway company). The card doesn’t currently offer cashback on purchases with most subsidiaries, but they’re in an interesting position that would make this possible – I wonder if that’s something we could see in the future.

Amazon Business Prime Credit Card Summary

Looking to level up your business game? Enter the Amazon Business Prime Credit Card—a great tool for savvy business spenders. From a $125 welcome gift card to cash back rewards on your favorite business expenses, this card is a VIP pass to Amazon-related savings.

Let’s dive into the details!

How Does the Amazon Business Card Work?

So, how does this card work its magic? It’s all about the cashback game…Let’s review.

You earn 5% back or get extended 90-day terms on U.S. purchases (your choice) at:

Amazon Business
AWS
Amazon.com
Whole Foods Market

The 5% cashback offer is good for up to $120K in spending per year.

Dining out, fueling up, or sorting out your wireless bills? Enjoy 2% back—every other purchase scores you a solid 1% back. The more you spend, the more you earn. Simple as that.

Amazon Business Prime Credit Card review Reddit

Then, as an Amex cardholder, you can take advantages of even more benefits:

Gain deeper insights into your purchases for smarter decisions.
Simplify expense reconciliation with itemized, downloadable purchase details.
Earn rewards with no expiration, giving you flexibility in usage.
Redeem points on Amazon.com and Amazon Business (U.S.) or apply them to your balance.
Travel the world without worrying about foreign transaction fees.
Enjoy global card acceptance with American Express.

Plus, this card comes with no annual fee (they make up for this with your prime membership fee). If you play the game well, you can end up saving quite a bit.

Moreover, you can leverage extra protection on purchases made with the card:

Get an extended warranty on items you purchase with the card, up to one extra year.
Purchase protection guards your purchases for up to 90 days against theft or accidental damage.
Receive support with dispute resolution for any fraudulent or incorrect charges on your statement.

Hopefully, you won’t ever have to use them, but these perks will make life easier if you do.

You might also like: Marriott Bonvoy Business Credit Card Review & Comparison

Can Anyone Get an Amazon Business Prime Card?

The Amazon Business Prime Card is up for grabs for any business, but there are a couple things to note:

The basic requirements are that you are at least 18 years of age, own at least half of your business, and have a Prime or Business Prime account.
While there’s no minimum credit score posted on the door, a solid creditworthiness vibe is key – people I’ve known to be approved for this card had a score of 700 or above.
You may need an EIN set up with the IRS, a business bank account, and a business address.

Note: If you downgrade your Amazon Prime account, Amex may downgrade your cashback rewards structure, but this doesn’t seem to happen to everyone.

People often wonder about the APR, and here’s the lowdown: Your annual percentage rate will dance in the 19.49% – 27.49% variable rate range.

How to Get an Amazon Prime Business Credit Card

Pre-approval requirements for the Amazon Prime Business card are not crystal clear, but a decent credit score waltz will get you far. Keep those expenses in check, and you might just find this card in your wallet.

If you sign up for an Amazon account with a professional email account (name@yourbusinessname.com), Amazon will invite you to sign up as a business. From here, they run periodic checks and might send you an offer to apply.

To apply today without pre approval, you can do so on the Amex website. Apply, and you could get a decision in as fast as 30 seconds—once approved, enjoy the perks, the cashback, and that shiny new card in your hands.

💡 Business Credit Bonus Tip: Leverage In-App Amex Offers for More Savings

Keep an eye on Amex Offers through the American Express® App. These are personalized deals and discounts that Amex cardholders receive based on their spending habits. When you regularly check and activate these offers, you can enjoy extra savings on purchases from various merchants.

Frequently Asked Questions

Is the Amazon business credit card only for Prime members?

Yes, the Amazon Business Credit Card is available to Amazon Prime and Amazon Business Prime members. Hence, their ability to offer an Amex card with no annual fee.

How am I eligible for Amazon business?

Eligibility for Amazon Business typically involves having a business entity. You can sign up on the Amazon Business website using a professional email address (name@yourbusinessname.com).

Do you need a credit card to open an Amazon Business account?

No, having an Amazon Business account doesn’t require you to obtain an Amazon credit card or any other credit card. You can pay with a debit card. Amazon even accepts EBT cards for some food purchases in select locations. However, a credit card can be beneficial for making purchases and accessing card-specific benefits.

What's the credit limit on the Amazon credit card?

Credit limits are determined based on individual creditworthiness and financial factors. The assigned limit will be provided upon approval. Amex tends to extend credit limits in the tens of thousands range with responsible use, but they’re also known to decrease limits, without warning, at the first sign of irresponsible credit usage.

Is there an annual fee for the Amazon business card?

No, there is no annual fee for Amazon’s business credit card. However, you will need to pay $179+ annually for a Business Prime account to qualify.

Is Amazon business credit card a hard pull?

Yes, applying for the Amazon Business Credit Card will result in a hard pull on your credit report. It’s advisable to be mindful of your credit inquiries.

Wrapping Up

In a nutshell, the Amazon Business Prime Credit Card can be your business’s VIP pass, offering rewards and perks that go beyond convenience. From cashback on Amazon, AWS, and Whole Foods spending to added benefits like no foreign transaction fees and enhanced purchase protections, it’s not just a card—it’s a business ally.

Amazon’s evolution from an online bookstore to an e-commerce giant with global reach is awe-inspiring. As for the card, eligibility is straightforward, rewards are impressive, and the application process is hassle-free.

Whether you’re a seasoned user or contemplating joining the Amazon Business Prime Card club, remember: a good credit score dance can open the door to a world of benefits.

While I really do like this card, I tend to favor small community banks and credit unions (which you already know if you follow this blog). I tend to see businesses get larger lines of credit when they have the right rapport with smaller institutions.

If you’re ready to learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today!

Corporate vs Business Credit Card: What’s the Difference?

By Joe Leave a Comment

I regularly review business credit cards and corporate card offers on this blog, and I often need to clear up the difference when I’m describing a corporate card offer. Here, I decided to create a resource that explains the differences between corporate vs business credit cards to refer readers and coaching students to.

I’ll explain the differences in a way that’s super easy to understand, and point you to some relevant content so that you can learn more about specific card offers. And, I’ll answer the questions that I hear most often from my coaching students.

This is what’s in store:

The Difference Between Corporate Cards & Business Credit Cards
The Advantages of a Corporate Card
- Can a Small Business Get a Corporate Credit Card?
The Advantages of a Business Credit Card
- Is Your Business Card a Corporate Card?
Frequently Asked Questions
Final Thoughts

Let’s go!

The Difference Between Corporate Cards & Business Credit Cards

Right out the gate, there is one core difference between corporate cards and business credit cards. What is the difference between a corporate card and a business credit card?

While both are used by businesses to improve cash flow, and may come with a line of credit to improve cash flow, the key distinction is in the payment terms:

Business credit cards have a revolving credit line, so you can carry a balance each month and make a minimum payment if you choose.
Corporate cards must be paid in full each billing cycle, whether that be every 30 days (net 30), 60 days (net 60), or a different time frame.

At first glance, it may seem like an easy choice if you’re deciding which card to apply for. Who wants the obligation to pay off your balance when you could have the freedom to pay it off over time?

…Right?

Well, it’s not that simple — Corporate cards are not inferior to business credit cards by any means. Let’s look closer.

You might also like: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors]

The Advantages of a Corporate Card

The point of a corporate credit card is to streamline financial transactions and manage expenses effectively. Rather than relying on personal credit cards for work-related costs, companies often issue corporate credit cards to employees.

This not only provides a level of convenience by eliminating the need for individuals to front their own money but also facilitates a smoother expense tracking system. A corporate card typically comes equipped with features that helps businesses:

Monitor and manage budgets
Ensure a transparent expense record
Simplify reimbursements
Separate personal and business expenses
Get accurate financial reporting, taxation, and accounting

Furthermore, companies can implement access controls by setting spending limits and specifying where the card can be used, thereby ensuring that expenditures align with approved purposes.

Business Credit card vs corporate credit card

In essence, a corporate credit card serves as a financial tool to enhance the efficiency of business operations, providing both convenience for employees and effective financial management for the company.

Plus, many corporate cards come with added perks like savings on software costs or ad spend. And, many of the newer corporate cards are completely free because of partnerships. So, obtaining one of these cards is like having a membership that offers exclusive access to discounts within a niche business network.

You might also like: Have You Heard About the Free Stripe Corporate Card Cashback Benefits?

Can a Small Business Get a Corporate Credit Card?

There is a widely-believed myth that corporate cards are for enterprises and credit cards are for small businesses. The truth is that small businesses can, absolutely, obtain corporate cards.

Corporate cards are typically issued based on business income, not necessarily credit scores. So, if your small business meets the revenue requirements, and you want the card, you might as well apply.

Many corporate cards require at least $4 millions in annual revenue, but some of the newer corporate cards will accept you with as little as $5K per month.

You might also like: In-Depth Divvy (BILL) Credit Card Review: Read This Before You Apply

The Advantages of a Business Credit Card

A business credit card is a line of credit crafted to meet the unique needs of a business. It functions similarly to a personal credit card but is tailored to streamline financial management for companies.

The primary objective is to offer businesses a convenient and efficient way to:

Make purchases
Cover expenses
Maintain financial control
Free-up your personal credit
Get access to substantial lines of credit

Like its corporate counterpart, a business credit card usually provides features such as detailed expense tracking and a streamlined reimbursement process, which contribute to effective financial oversight.

And, some business credit cards offer the ability to issue additional cards to employees with preset spending limits.

The inclusion of rewards and incentives, specifically designed for business-related expenses, adds another layer of appeal. Moreover, responsible use of a business credit card contributes to building the credit profile of the business itself, separate from the personal credit of the business owner.

In a nutshell, a business credit card is a tailored financial tool that enhances the efficiency of business operations by simplifying expense management and providing flexibility in financial transactions.

You might also like: This is How to Leverage Business Credit to Transform Your Life

Is Your Business Card a Corporate Card?

As a business owner, if your credit card is in your company’s name, features detailed expense tracking, and you pay the balance in full each billing cycle, it’s likely a corporate card. However, if it’s in your personal or business name, issued by a bank, and involves revolving reimbursement, it’s probably a business credit card.

Keep in mind, if payments are due in full each billing cycle, it might be a secured business credit card – For clarification, check your card issuer’s information or contact customer service.

You might also like: The Ultimate Tillful Review (+New Secured Credit Offer for Businesses)

Frequently Asked Questions

Does a corporate card hurt your credit score?

No, a corporate credit card typically doesn’t impact your personal credit score. Since it’s usually issued in the company’s name and is the responsibility of the business for repayment, your personal credit history remains separate. However, if you do not pay as agreed, and the card comes with a personal guarantee, this could have a negative impact on your score.

Who is eligible for a corporate credit card?

Businesses that meet the revenue requirements, which may be as high as $4 million per year, are eligible for corporate card accounts. The businesses can then implement their own eligibility requirements and spending limits for staff and employees.

Can I use my corporate credit card for personal use?

Using a corporate credit card for personal expenses is generally discouraged. Corporate cards are intended for business-related transactions. Mixing personal and business expenses can complicate accounting. And, it’s super important to follow company policies regarding card usage.

Who pays for the corporate credit card?

The company is responsible for paying the expenses incurred on a corporate credit card. Corporate cards are issued by the company to streamline business-related transactions, and the company covers the costs directly.

What's a good credit card for a small business?

There are several options for small business credit cards. Popular choices include the Chase Ink Business Preferred and several options from Bank of America. Some of my favorites are from small community banks and credit unions. The best card depends on your business’s specific needs, such as rewards, expense management features, and credit limits. See the best credit cards for entrepreneurs.

Final Thoughts

So, corporate cards and business credit cards are a bit different. Business credit cards let you carry a balance, but corporate cards need full payment each month.

Corporate cards are awesome—they make business money matters smooth, help track expenses, and even come with cool perks. And, small businesses, not just big ones, can get corporate cards.

Business credit cards are cool too—they’re like personal cards but for your business. They’re handy for buying stuff, covering expenses, and earning rewards.

Check out different cards based on what your business needs. Got questions? We’ve got answers, from credit scores to who foots the bill. Whether you go corporate or stick with business, there’s a card for every business owner’s wallet.

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

Full Shopify Credit Review: Are the Cashback Rewards Legit?

By Joe Leave a Comment

If you landed here, you may have received an invitation to apply for a “Shopify credit card.” And, since this offer was only unveiled a few months ago, you’re not going to find a lot about it on Reddit or other forums.

Not only this, but if you try searching for details about the card, you’ll mostly see Shopify’s own marketing content, reviews that may have been written by affiliates, and information about Shopify Capital (which is a separate offer)

…This is probably going to change in the future as the Shopify Credit offer has time to spread its wings. Still, you need to know more about the card before you apply or accept an offer.

So, here, I’m going to explain the offer and a little bit about the company, share some features and benefits of the card, and compare it to some close competitors. Then, I’ll answer a few of the top questions people are asking.

Here’s what’s in store:

What is Shopify Credit?
- Business Credit vs Corporate Cards
- Shopify Company Overview
Shopify Credit Features & Benefits
Shopify Credit Alternatives
Frequently Asked Questions
Conclusion: Is This Card Offer Worthwhile?

Let’s dive in!

What is Shopify Credit?

Shopify Credit is a pay-in-full, so-called “business credit card” tailored for entrepreneurs — It offers a straightforward and transparent financial solution with no fees, no interest, and up to 56 days to pay for purchases.

Considering the way the card is set up, it’s actually a corporate card, not a business credit card (more on that in a minute).

Shopify Credit is designed to support business cash flow with a flexible spending option for everyday business expenses, such as:

Marketing and Advertising
Shipping and Fulfillment
Wholesale

Shopify sellers can easily check their eligibility online and receive quick decisions based on business performance rather than credit scores. And, they can enjoy the convenience of a Visa®-branded card accepted pretty much everywhere globally (i.e. wherever Visa is accepted).

The card also comes with the added benefit of cashback rewards, allowing users to earn up to 3% cashback on eligible purchases in their top spend category and 1% on the other two categories. With no catch and a focus on simplicity, Shopify Credit aims to empower businesses by providing a reliable and rewarding financial tool.

Business Credit vs Corporate Cards

Business credit cards and corporate cards serve distinct purposes in the realm of business financing. Business credit cards are typically designed for small to medium-sized enterprises and individual business owners, offering a convenient and flexible means of covering day-to-day expenses. They often come with features like cashback rewards and expense tracking.

On the other hand, corporate cards are generally intended for larger enterprises and are issued to employees for company-related expenses. Corporate cards may come with more extensive expense management tools and customization options tailored to the specific needs of large organizations.

Shopify credit gives you the best of both worlds. Still, the offer is more closely related to contemporary corporate card offers than business credit cards, which allow you to carry a revolving balance.

Shopify Company Overview

Established back in 2004, the Canadian powerhouse known as Shopify (aka Shopify Payments or Shopify Data Processing, if you’re feeling fancy) has grown into a publicly-traded juggernaut valued at $1.3+ billion.

Every online merchant has heard about their game-changing online sales platform that’s been rocking the eCommerce scene. Now, I won’t dive too deep into the intricacies of Shopify’s credit card processing capabilities or the Shopify credit card reader.

Instead, let’s shine a quick spotlight on the backstory of Shopify Credit.

Shopify’s initiatives kicked off in April 2016, when they started offering merchant cash advances, and since then, they’ve pumped out billions in funding for sellers worldwide. Shopify Credit was launched more recently in July 2023.

It’s worth noting that all the financial mojo behind Shopify Capital comes courtesy of WebBank, a player affiliated with the likes of Dell Business Credit, LendingClub, and Capital on Tap (not my favorite business funding offers).

Meanwhile, Shopify Credit is issued courtesy of Celtic Bank, a modest brand with a tremendous reach.

Shopify Credit Features & Benefits

Okay, are you ready to dive into the details? Here’s a summary of who can qualify for Shopify Credit and everything you can expect if you pull the trigger on this one.

You might also like: What are the Best Unsecured Business Credit Cards for Startups?

Shopify Credit Card Terms & Fees

Shopify Credit is essentially free:

No annual fee
No foreign transaction fees
No setup fees

This offer is all about straightforward transactions to help keep more money in your business.

With up to 56 days to settle bills (net 56) and zero late fees, Shopify Credit offers a relaxed payment period, giving you ample time to manage your business finances. This can help you manage your finances pretty easily.

Many tradelines like this report on-time payments to credit bureaus. I couldn’t find out any information on the Shopify website about whether on-time payments are reported to credit bureaus. So, I first reached out to Celtic Bank who referred me back to Shopify.

According to Shopify’s AI chat assistant, on-time payments on the Shopify Credit card are not reported to business credit bureaus. I’m not 100% confident in the accuracy of this answer, so if you know otherwise, please let me know.

FInally, over time, you can watch your credit limit expand as your business succeeds – Periodic reviews ensure your credit line grows with your business, which offers some financial flexibility without constant paperwork.

You might also like: Using 30 Day Net Vendors to Build Your Business Credit Score

Cashback & Bonus Offer

In addition to being a free card, Shopify Credit offers cashback and bonuses.

With this card, you can earn rewards customized to your business essentials:

3% cashback on your top spending category
1% on the other two, recognizing your business efforts.

There is a catch here, though — a pretty big one. In order to earn rewards, you must use your card for spending in the three approved categories (marketing and advertising, shipping and fulfillment, and wholesale).

Card spending must take place with one of Shopify’s partners to qualify for cashback:

Category	Providers
Marketing & advertising	Google, Meta, TikTok, Pinterest, Snap, Twitter, Microsoft, Shopify Email, Klaviyo, Mailchimp, Instafeed, Yotpo SMSbump, Yotpo product reviews and UGC, Yotpo subscriptions, Yotpo loyalty and rewards, Loox, Privy
Shipping & fulfillment	USPS, UPS, DHL Express, Flexport, Pirateship, Shopify Shipping, Shopify Fulfillment Network, Shipsurance, Shipstation, Shippo, Aftership order tracking, Aftership shipping + labels, Aftership returns, Parcel Panel Order Tracking
Wholesale	Faire

Chances are, if you’re successfully selling on Shopify, you are spending with some of these brands — so, the Shopify Credit card gives you a chance to earn/save on some of that spending.

Shopify also advertises a $2K Shop cash welcome bonus for eligible spending — as of today, this is still up on the website:

Sadly, this offer expired on October 31, 2023…if you accept a card offer after this date, you will not qualify for the $2K welcome bonus (I triple-checked).

Shopify Credit welcome bonus has expired

As with most corporate and credit cards, there will probably be more introductory offers in the future – be sure to keep your eyes peeled…and always read the fine print.

You might also like: This is How to Leverage Business Credit to Transform Your Life

Shopify Credit Requirements

You might be pleasantly surprised to learn that Shopify does not do a credit check. Shopify Credit is offered by Shopify to eligible merchants. Merchants don’t necessarily have to seek it out actively; instead, Shopify may extend offers to qualified merchants based on their business performance, so you don’t need a particular credit score to qualify.

But, you do need a few other things:

A Shopify Payments account with a single owner
A bank account connected to the Shopify Payments account
A valid United States Social Security number
A business located in the United States or Puerto Rico

You may receive notifications or invitations to apply for Shopify Credit, and the application process is typically straightforward. Eligibility is based on your business performance, and decisions can be made within minutes.

Shopify Credit Alternatives

I’ve reviewed quite a few free corporate fintech cards here on this blog, and a handful of them are very close contenders with Shopify Credit:

While I don’t like to play favorites, my favorite corporate card is Divvy – I have this card, I use it, and I love it because of its user-friendly features and expense management tools.
Brex is another super popular corporate card. You’ll need a high-performing business to qualify. And, if you get this card, you’ll have the opportunity to save on business expenses like travel and online advertising.
Next, Stripe Corporate is a close contender and may be a better fit if most or many of your Shopify store transactions are run through the Stripe payment platform. This card offers features tailored for Stripe users, but it’s available by invitation only, with specific requirements.
This list would be complete without Ramp, which focuses on providing real-time insights into your company spending and helps control costs.
While the next card wouldn’t be my top choice for most online sellers, Bank of America’s Corporate Card is worth mentioning here because of its benefits and rewards, especially if you’re already using BoA for business banking.

The best card for you is going to depend on your current setup, whether or not you’re willing to make some changes, and how quickly you need access to a corporate card.

Frequently Asked Questions

How does Shopify give you money?

Shopify offers two types of merchant funding: Shopify Capital and Shopify Credit. Shopify Capital provides funding through merchant cash advances based on sales history, with repayments tied to a percentage of daily sales. Shopify Credit, on the other hand, offers a fee-free credit card with cashback rewards, providing additional funds for business expenses based on sales performance. Both options give eligible merchants access to capital to support their business growth.

Does Shopify Credit affect your ability to qualify for Shopify Capital?

No, applying for Shopify Credit does not impact your Shopify Capital eligibility. The two operate independently, allowing merchants to leverage both financial tools to support different aspects of their business needs.

What is the Shopify Credit card fee?

The Shopify Credit card is fee-free, with no annual fees, foreign transaction fees, or setup fees. This transparent fee structure aims to provide simplicity for merchants, allowing them to focus on their business without concerns about additional charges.

Will a Shopify Credit card help you build business credit?

No. Shopify Credit is not technically a credit card and on-time payments made toward your account balance will not be reported to business credit bureaus.

Conclusion: Is This Card Offer Worthwhile?

Wrapping it up, Shopify Credit and its cashback rewards seem to be a pretty legit deal under the right circumstances — The card offers a straightforward, fee-free experience with up to 56 days to settle bills, and zero late fees.

While the card is relatively new and might not be buzzing just yet, it offers simplicity, quick eligibility check, and no credit score hassles. These features make it a solid choice for some online sellers.

The cashback adds a nice touch, providing cardholders with tangible benefits for their business spending – but it’s a shame they’re still advertising the bonus offer when it’s actually unavailable. And, I am not stoked that the card doesn’t report payments to credit bureaus.

With that said, I still like Divvy, and I would choose it over Shopify Credit, depending on whether or not my operations were the right fit. In full transparency, I’m not a Shopify seller, I’m a business credit coach and investor.

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!

9 Best eCommerce Credit Cards (Online Sellers’ Guide)

By Joe Leave a Comment

eCommerce is a fast-paced industry – On top of managing your inventory and making sales, you have to handle logistics, maintain relationships with suppliers, and keep your customer service on point while you maintain momentum. In the meantime, you need the right financial tools. Business credit cards and corporate cards can streamline your money operations.

So, what are the best credit cards for eCommerce?

You’ve landed on a deep dive here, which you can use to determine exactly what card is right for you and your online store. If you don’t already know, you’ll learn the difference between business credit cards and corporate cards, find out what to look for in a card, and browse a list of the best cards for business owners in the online sales niche.

(Quick note: we’re not talking about consumer credit cards for online shopping.)

Here’s what’s in store:

Navigating the Plastic Jungle: Business Credit vs. Corporate Cards
Best Business Credit Cards for eCommerce
Best Corporate Cards for eCommerce
Frequently Asked Questions
Final Swipe: Master Your Business Finances

Now, let’s jump in!

Navigating the Plastic Jungle: Business Credit vs. Corporate Cards

Alright, buckle up — it’s decision time. You’ve got your eye on that shiny piece of plastic, but should it scream “business” or “corporate”? Let’s break down the rumble between these heavyweights.

Business credit cards are designed for companies who need a line of credit that can carry a balance each month. You would choose a business credit card over a consumer credit card because of the tailored rewards and features and the ability to obtain larger lines of credit…The transition to business credit can change your life.

Meanwhile, corporate cards typically have to be paid in full each month and tend to come with a range of advanced features like real-time expense tracking, budget controls, and integration with your business tools and software.

In a nutshell, both types of cards may offer rewards like cash back or discounts with technology partners (though this is a fairly new offering from contemporary corporate cards). So, you might get a business credit card when you need a cash flow boost for your company and a corporate card when you need better financial management – And, many businesses use both.

Best Business Credit Cards for eCommerce

Opting for a business credit card is a savvy move, especially for eCommerce ventures. It provides the flexibility needed to navigate the dynamic landscape of online businesses.

Look for a business credit card tailored to eCommerce that offers rewards and benefits specifically relevant to your industry.

Focus on features like:

Bonus points for online advertising
Shipping perks
Cash-back options for your predominant business expenses

Generally, a good business credit card for eCommerce should align with your spending patterns and provide valuable rewards that can be reinvested or used to enhance your online operations.

Now, let’s take a look at the best eCommerce best credit cards.

You might also like: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth

1. Amazon Business Prime Card from Amex

The Amazon Business Prime American Express Card is a fantastic choice for Amazon sellers looking to maximize their business expenses. With this card, you enjoy flexible payment terms, allowing you to carry a balance if needed.

The Annual Percentage Rate (APR) is competitive, offering financial convenience.

What makes this card stand out are the rewards – you earn 5% back or 90 days interest-free on U.S. purchases at:

Amazon Business
AWS
Amazon.com
Whole Foods Market

Additionally, you earn 2% back at:

Restaurants
Gas stations
Wireless telephone services

For the online seller crowd, this card is a boon, especially for those heavily invested in the Amazon ecosystem. The 5% back on Amazon Business purchases can significantly boost your bottom line, making it a go-to choice for Amazon sellers looking to make the most out of their business spending (it might be the best card for those with an Amazon seller account).

You might also like: Amazon Corporate Credit Line – The Ultimate Guide

2. Amex Business Gold Card

The American Express® Business Gold Card is a solid choice for online sellers, offering flexibility and rewards tailored to business needs. While it’s no Centurion (the credit card the Kardashians use), with this card, you enjoy a dynamic payment structure, allowing you to carry a balance when necessary.

The APR is competitive, ensuring financial convenience. What sets this card apart are the rewards – you earn 4X Membership Rewards® points on two select categories where your business spent the most each billing cycle, up to the first $150,000 in combined purchases from these two categories each calendar year.

The U.S. reward categories include:

Airfare purchased directly from airlines
Purchases for advertising in select media
Purchases at gas stations
Purchases at restaurants
Purchases for shipping
Computer hardware
Software
Cloud computing purchases

These perks make it a great fit for a variety of online sellers, including those invested in advertising, travel, and technology. The flexibility in reward categories makes it adaptable for a range of business expenses, making it an attractive option for Etsy sellers, Shopify sellers, and those using various online platforms.

3. Chase Ink Business Preferred Credit Card

Best credit card for online sellers United States

The Ink Business Preferred® Credit Card from Chase Bank is a stellar choice for online sellers, particularly those with diverse business expenses. With this card, you enjoy favorable payment terms and a competitive APR for financial flexibility.

The standout feature is the generous rewards program – you earn 3 points per $1 on the first $150,000 spent on combined purchases in categories like:

Travel
Shipping
Advertising

The points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® program. For online sellers, this card is especially appealing because of its broad reward categories, making it suitable for various business expenditures.

Whether you’re into advertising on social media, frequently shipping products, or managing travel for business purposes, the Chase Ink Business Preferred® Credit Card caters to a wide range of online sellers, including those using payment platforms like Shopify and Stripe.

4. Chase Ink Business Unlimited Credit Card

Can you get a business credit card for an Etsy shop?

The Chase Ink Business Unlimited® Credit Card is a straightforward and rewarding choice for online sellers seeking simplicity and flexibility. This card comes with uncomplicated payment terms and a competitive APR, offering financial ease.

What makes it appealing is the straightforward rewards structure – you earn 1.5% cash back on every purchase with no limit.

This flat-rate cash back is particularly beneficial for online sellers who want a hassle-free way to earn rewards on all their business expenses. Whether you’re selling on Amazon, Etsy, or running your own Shopify store, the simplicity of earning a consistent 1.5% cash back on everything can be a real advantage.

It’s an excellent fit for those who prefer a no-frills approach to rewards and want to maximize their earnings across the board without worrying about category restrictions.

You might also like: What are the Best Unsecured Business Credit Cards for Startups?

5. The Amex Blue Business® Plus Credit Card

Best eCommerce credit card for small business

The Blue Business® Plus Credit Card from American Express is a fantastic choice for online sellers looking for flexibility and rewards. With this card, you enjoy a 0% introductory APR on purchases for the first 12 months, providing a cushion for business expenses.

After the introductory period, a competitive APR comes into play.

The standout feature is the Membership Rewards® program, where you earn 2X Membership Rewards® points on the first $50,000 spent annually, and 1X points thereafter.

This makes it an excellent option for online sellers with moderate to high business expenses, offering a solid return on everyday purchases. Whether you’re an Etsy seller, a Shopify entrepreneur, or use various online platforms, the Blue Business® Plus Credit Card is versatile.

With this card, you can earn points on a broad spectrum of business expenditures (it’s a valuable addition to any online seller’s toolkit).

You might also like: How to Get a Business Credit Card – The Ultimate Guide

Best Corporate Cards for eCommerce

Now, a corporate credit card is a strategic choice for larger eCommerce enterprises dealing with more substantial budgets and intricate financial needs.

If you’re going to go this route, you should opt for a corporate card that integrates seamlessly with eCommerce platforms, which facilitates efficient transactions.

Look for advanced features like:

Real-time expense tracking
Customizable spending limits
Integration capabilities with your eCommerce tools

Overall, a good corporate credit card for eCommerce should empower your business with tools for precise financial control, ensuring smooth transactions, and streamlining overall financial management.

Okay, time to level up your game…Let’s look at the top eCommerce corporate cards.

1. Stripe Corporate Card

Advantages and disadvantages of credit card in eCommerce

The Stripe Corporate Card is tailor-made for businesses, particularly those engaged in online transactions using the Stripe platform. With this card, online sellers benefit from a streamlined payment experience, as it’s directly integrated with the Stripe payment system.

The Stripe Corporate Card doesn’t charge annual fees, and it offers a straightforward cash back system — You earn 2% cash back on your top two spending categories each month, providing flexibility for different business needs.

This card is especially appealing to sellers using Stripe for payment processing, such as those with eCommerce stores, subscription services, or online marketplaces. The seamless integration with Stripe simplifies financial management, making it a practical choice for businesses heavily reliant on this payment gateway.

Whether you’re selling on Shopify, WooCommerce, or managing a subscription-based business, the Stripe Corporate Card can enhance your financial efficiency and provide rewards tailored to your spending habits.

2. Brex Corporate Card

The Brex Corporate Card is a standout choice for modern businesses, particularly those with a tech-savvy and entrepreneurial spirit. One of its most notable features is that it doesn’t require a personal guarantee, making it an attractive option for startups and online sellers with fluctuating income.

With Brex, you get a 60-day interest-free period, allowing some breathing room for cash flow management.

The rewards program is geared towards business expenses, offering:

8x points on rideshare
5x points on travel booked through Brex
4x points on Brex Travel
3x points on restaurants
1x points on everything else

This makes it an appealing option for online sellers who frequently travel, use rideshare services, or entertain clients. The tech-friendly nature of the card and its rewards structure align well with the needs of online businesses, particularly those utilizing platforms like Shopify.

In all, it caters to a range of expenses often associated with eCommerce and modern business operations.

3. Divvy Corporate Card

The Divvy Corporate Card is a game-changer for businesses looking to streamline expense management. This card offers a unique approach, with no annual fees and a 0% APR.

Divvy’s standout feature is its real-time expense tracking and budgeting tools, allowing businesses to stay on top of spending effortlessly – Users can allocate budgets to different teams or projects, making it a great fit for online sellers with diverse expenditure areas.

While it doesn’t offer traditional rewards points, the value lies in its smart financial tools, providing a comprehensive overview of expenses.

This card is particularly attractive to online sellers who value transparency and want to efficiently manage their budgets across various categories. Whether you’re selling on Amazon, Etsy, or running a business on Shopify, the Divvy Corporate Card can be a practical choice for those who prioritize real-time expense tracking and want to optimize their budget allocation.

4. Shopify Credit

While it’s called Shopify “Credit,” this offer is actually more akin to a corporate card. Shopify Credit is a straightforward and accessible financing option tailored for businesses operating on the Shopify platform.

With no interest or fixed payments, it’s an attractive choice for online sellers looking for flexibility. Shopify Credit is automatically available to eligible businesses, and the credit limit is based on the merchant’s sales history and account health.

This makes it a convenient option for Shopify sellers who may need extra capital to invest in inventory, marketing, or other business needs. The absence of traditional interest charges and fixed payments allows sellers to align repayments with their sales cycles.

Whether you’re a small boutique or a growing eCommerce enterprise, Shopify Credit provides a hassle-free way to access funds and invest in the growth of your online business.

You might also like: Shopify Capital Review: What are the Benefits & is it Worth it?

Frequently Asked Questions

Which credit card is best for eCommerce?

It depends on your style. Amazon Business Prime Amex or Chase Ink Preferred offer perks for online sellers. If you prefer simplicity, Chase Ink Unlimited gives a solid 1.5% cash back on everything. Stripe or Shopify corporate cards are great if you’re deep into those platforms.

Which credit card do most millionaires use?

Millionaires dig premium perks. Think Amex Platinum or Chase Sapphire Reserve for travel benefits and VIP treatment.

What is the role of credit cards in eCommerce?

Credit cards make online shopping smooth and secure for customers. For businesses, they’re the go-to for flexible spending, earning rewards, and managing cash flow. Stripe and Shopify corporate cards add extra perks for online sellers.

How do I use credit cards for eCommerce?

Pick a card that fits your vibe. Use it for online buys, ads, shipping – the works. Track spending, set budgets, and if you’re on Stripe or Shopify, their corporate cards make life easier. Just keep it responsible to avoid any money headaches.

Final Swipe: Master Your Business Finances

In the dynamic world of eCommerce, where every click counts, having the right financial tools can be a game-changer. At this point, you should have an understanding of the intricate landscape of business and corporate credit cards.

Whether you’re diving into the flexibility of business credit cards tailored for eCommerce like Amazon Business Prime Amex or Chase Ink Business Preferred, or taking on the advanced features of corporate cards like Stripe or Brex, you’re now armed with the knowledge to make informed decisions.

Remember, it’s not about the flashiest card; it’s about the one that aligns with your business rhythm. So, choose wisely, swipe confidently, and let the perks roll in. Your financial adventure awaits!

If you’re interested in learning how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today!

Centier Bank Review: Is it Ideal for Business Owners too?

By Joe Leave a Comment

Last year, Centier Bank was named on Forbes’ list of best-in-state banks in Indiana, and their account holder ratings tend to be great. But, I wanted to know more about their offer as it applies to businesses, so I did the deep dive.

If you’re a business owner, your bank account is a fundamental asset – you need to know you’re banking at the right institution, especially if you plan to apply for credit.

So, is this where you should be banking? Let’s find out.

Here’s what’s in store:

What Makes a Business Bank Account so Significant?
What Kind of Bank is Centier?
- Centier Bank Company Overview
Centier Bank Business Offer Summary
Frequently Asked Questions
Final Thoughts

So, let’s jump in!

What Makes a Business Bank Account so Significant?

You probably already know that a business bank account is important because it keeps your business money separate from your personal cash. Naturally, it makes you look pro in front of clients and keeps the taxman happy.

Plus, you get access to cool business services like loans and credit cards. It’s convenient too with online banking. And, it helps build your business’s credit history, which is awesome for getting loans or sweet deals from suppliers.

And, it can protect your personal stuff if things go south with your business. While some contractors and solopreneurs opt to use one account for business and personal transactions, the institution you bank with is definitely a big deal for any business!

Now, what you may not know is that your relationship with your bank is one of the most powerful assets you can nurture when you want substantial lines of credit. So, let’s find out if Centier has the right stuff.

What Kind of Bank is Centier?

Centier Bank is a family-owned bank that primarily operates in the state of Indiana, USA. It’s considered a regional bank with a strong focus on community banking. As a family-owned institution, it often emphasizes personalized service and community involvement.

Centier Bank provides a range of financial services, including:

Personal banking
Business banking
Loans
Credit services
CDs and IRAs

Its community-oriented approach sets it apart from larger, national banks, making it a more personal and local choice for customers in Indiana.

In our workshops, I typically recommend that business owners bank away from bigger banks. I often cite community banks and credit unions as the best places to open business accounts. For the record, I’m also a fan of many regional banks.

Centier Bank Company Overview

Henry Schrage founded Centier Bank in 1895, and the company has been registered in the state of Indiana since 1937 – The institution has been around for over a century. So far, the Schrage family still stands behind their “not for sale” promise to account holders and the community.

I suspected that, after some digging, I might find that the company had been sold, in part, to someone outside the family…many times, marketing teams take plenty of liberty with their messaging. Fortunately, this time, that’s not the case. The current President and Director of Centier is Michael E. Schrage, Henry Schrage’s great grandson.

In my experience, this level of transparency is quite rare, and it impresses me. The Schrage’s even opened a museum that details the history of Centier in Whiting, Indiana (about a 40 minute drive from the bank’s headquarters in Merrillville).

Centier is the state of Indiana’s largest privately-owned bank, so the offer falls somewhere on the midline between big bank and community credit union.

And, just for fun, here’s an image of a Minecraft build of the Centier Bank tower and lobby in Gary, Indiana by u/WillofIam.

Centier Bank Business Offer Summary

If you’re thinking of conducting any business banking with Centier, you need to know about more than the company size and leadership. So, let’s explore some details about the financial products.

Business Banking Products

Centier Bank offers two business checking account options.

The MyBiz Checking account is well-suited for small to mid-sized businesses. It provides features like free first 400 transactions, a business debit card, and various digital banking features, including account management and bill payments. Notably, this account does not have a monthly fee.

For businesses requiring Automated Clearing House (ACH) transfers and domestic Wire Transfers, the MyBiz Plus Checking account is an option. It has the same features as MyBiz Checking but includes ACH Origination and Wire Origination for a monthly fee of $15.

These accounts cater to various business sizes and operational requirements, making Centier Bank a versatile choice for business banking needs.

Centier also offers a business savings account. It’s a no-frills business savings account designed to help businesses grow their savings while keeping costs in check.

The Commercial Savings account offered by Centier Bank is a straightforward option for businesses looking to save. To avoid the $3 monthly fee, you’ll need to maintain a minimum balance of $1,000 – This account earns monthly interest if the minimum balance is maintained, provides online access, and is FDIC insured, ensuring the safety of deposited funds.

Centier Bank’s savings account interest rate is not disclosed in their advertising because it’s variable for the Commercial Savings accounts. However, personal accounts can earn up to 5%, so the amount is likely to be somewhere in this realm. Connecting your savings account to your checking account will impact the rate, as will the number of transactions going through your checking account each month.

Online & Mobile Banking

Centier Bank’s business online and mobile banking offers a range of features to facilitate efficient banking for businesses:

Nationwide ATMs – Access to a wide network of ATMs.
ACH & wire – Facilitates electronic fund transfers between institutions.
Unlimited checks – No restrictions on check usage.
Mobile deposit – Allows depositing multiple checks through the mobile app.
Bill pay – Provides secure 24/7 bill payment services.
Manage cards – Easily handle card-related tasks.
Manage alerts – Customizable notification settings.
Money management – Tools to track expenses and financial goals.
Sub-user access – Control online banking permissions.
Quicken® and Quickbooks® integration – Convenient data export to popular financial software programs (in addition to Autobooks™).
Mobile banking app – 24/7 access to banking services.
Digital wallet – Compatibility with various mobile payment options like Google Pay and Apple Pay.

These services aim to streamline business banking, but specific terms and fees may apply depending on the chosen features.

Autobooks™

Autobooks™ is Centier’s bespoke digital payment solution for small businesses.

Features include:

Receive payments directly in your online and mobile banking.
Accept credit cards, debit cards, and ACH transfers.
Create custom digital invoices with your logo.
Easily monitor all transactions in one place.
Automate bookkeeping entries and access financial reports.
Receive expertise from Centier’s Business Banking team.

This solution can simplify payment processing and invoicing, accessible in your Mybiz Business dashboard and mobile banking. A transaction fee applies for card-based and ACH transactions after the first two months free trial.

The transaction fee for Autobooks™ is as follows:

3.49% of the transaction amount for card-based transactions.
1% of the transaction amount for ACH.

It’s important to note that there are no equipment costs or per-item charges associated with Autobooks.

Business Funding Offers

Centier Bank also offers a variety of business loans and lines of credit:

Term loans – These provide extended working capital with various terms and repayment choices, making them suitable for real estate acquisition, equipment purchase, and expansion.
Lines of credit – Seasonal and revolving lines of credit offer short-term working capital to supplement cash flows, aiding in financing seasonal expenses and supplier discounts.
Letters of credit – These assist in guaranteeing payment to suppliers and establishing credit with new vendors, whether for local or global trade.
Middle market loans – Available for businesses with financing requirements from $1,000,000 to $115,000,000+, providing a diverse lending solution.
Small business loans – Assistance with navigating Small Business Administration (SBA) loan options is available to help businesses find the most suitable option.

The terms for these Centier’s funding options vary. You can find our more by reaching out to a Centier banker in your area.

Centier Bank Commercial Card

Centier Bank’s Commercial Card offers a range of benefits for your business. With this card, you can earn monthly cash back rebates, which are deposited directly into your Centier Business Checking account.

The best part? – There are no membership or monthly service fees, and monthly payments are automatically debited from your business checking account for added convenience.

You can also:

Manage your cards
View account activity and statements
Run audit reports online
Issue employee cards
Monitor and control spending

Additionally, you can rest easy knowing that Mastercard provides protection against unauthorized charges if your card is ever lost or stolen.

Frequently Asked Questions

What type of bank is Centier?

Centier Bank is a full-service regional bank based in Indiana, offering a wide range of personal and business banking services, including checking and savings accounts, loans, credit cards, and more. It is a community-focused bank with a strong local presence.

Is Centier Bank FDIC insured?

Yes, Centier Bank is FDIC insured. Your deposits with Centier Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowable limit, providing a high level of security for your funds.

What is the cut off time for Centier bank?

The cut-off time for Centier Bank may vary depending on the specific transaction or service. It is advisable to contact your local Centier Bank branch or their customer service for precise cut-off times related to your banking needs.

How long does it take for a deposit to go through Centier?

The processing time for deposits at Centier Bank can vary depending on the type of deposit and the specific transaction. Electronic transfers and direct deposits typically clear within a business day. For detailed information regarding a specific deposit, contact Centier Bank directly for accurate processing times.

Final Thoughts

In summary, Centier Bank offers a strong choice for business owners. They provide a range of business banking services, including tailored checking and savings accounts, funding options, and the Autobooks™ solution for payment processing.

As a family-owned regional bank in Indiana, Centier emphasizes community involvement and personalized service. Their online and mobile banking services offer convenience and flexibility.

The Commercial Card allows businesses to earn cash back rebates without monthly fees, making it a beneficial choice. Centier Bank is also FDIC insured, ensuring the safety of your funds.

Overall, if you’re a business owner in Indiana, Centier Bank is a solid and community-focused banking option to consider.Interested in learning how to get up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

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

By Joe

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:

What is the Nav Prime Card?
Nav Prime Card Overview
- Business Credit Building Features
Who Wouldn’t Want a Nav Prime Card?
How to Get Started with the Nav Prime Card
Frequently Asked Questions
So, is the Nav Prime Card legit?

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.

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.

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.

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.

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.

Who Wouldn’t Want a Nav Prime Card?

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:

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.

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
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.
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.

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.

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!

Behind the Scenes of Become.co: A Comprehensive Review

By Joe

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

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

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

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

Here’s what’s in store:

What is Become.co?
What Type of Business Loan Can You Get Through Become?
- How to Qualify for Funding
eCommerce Loans
- The BeProfit™ App for Online Sellers
Industry-Specific Loans
LendingScore™ & MatchScore™
Frequently Asked Questions
Conclusion

Let’s begin!

What is Become.co?

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

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

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

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

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

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

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

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

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

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

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

How to Qualify for Funding

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

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

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

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

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

eCommerce Loans

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

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

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

Here’s what you should know about these partners:

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

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

The BeProfit™ App for Online Sellers

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

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

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

Now, is it relevant or right for you?

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

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

	Monthly Price	Yearly Price	Orders	Shops	Features
Basic	$20	$240	200	1	Profit Dashboard, Custom Expenses
Advanced	$60	$720	600	1	Advanced Analytics, 3 Team Members
Pro	$120	$1440	1200	1	Retention Analytics, 5 Team Members
Plus (Custom)	Starts at $200	–	Unlimited	Unlimited	Deep Analytics, VIP Support

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

Industry-Specific Loans

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

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

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

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

LendingScore™ & MatchScore™

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

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

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

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

Frequently Asked Questions

Can you get a loan for eCommerce?

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

Can you do eCommerce with no money down?

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

How to get a loan to start an eCommerce business?

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

How much money do you need for eCommerce?

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

Do you need a lot of money to start eCommerce?

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

Conclusion

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

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

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

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

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

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

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

By Joe

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

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

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

Here’s what’s in store:

What is a Fintech Credit Card?
Explore the 6 Best Fintech Credit Cards
Frequently Asked Questions
Conclusion

Now, let’s get crackin!

What is a Fintech Credit Card?

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

Explore the 6 Best Fintech Credit Cards

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

1. Brex – Your Stealthy Fintech Ally

For: Businesses seeking a free corporate card

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

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

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

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

2. Divvy – The Power Credit Card

For: Business owners

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

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

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

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

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

3. Bluevine – Fintech Business Checking & Credit

For: Small business owners

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

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

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

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

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

4. Stripe Corporate Card – Cashback and More

For: Business owners using Stripe Payments

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

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

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

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

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

5. Ramp – Redefining Fintech Credit Cards

For: Businesses seeking a frde corporate card

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

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

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

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

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

6. Meet the Unicorn Card – CredAI

For: Consumers

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

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

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

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

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

Frequently Asked Questions

What is a Stealth Card?

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

How does fintech make money?

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

What are the Big 4 credit card networks?

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

Who is eligible for fintech credit cards?

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

How do you qualify for fintech credit cards?

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

Is Zelle a fintech company?

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

Conclusion

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

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

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

→ Join Business Credit Workshop today.

The Best Credit Cards for Landlords: A Comprehensive Guide

By Joe

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

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

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

Here’s what’s in store:

Why Should Landlords Choose Business Credit Cards?
- How to Grow Your Profits with Business Credit
Key Factors to Consider When You Choose a Credit Card
The Best Business Credit Cards for Landlords
Frequently Asked Questions
Final Thoughts

Let’s get crackin’!

Why Should Landlords Choose Business Credit Cards?

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

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

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

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

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

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

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

How to Grow Your Profits with Business Credit

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

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

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

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

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

Key Factors to Consider When You Choose a Credit Card

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

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

The Best Business Credit Cards for Landlords

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

1. Chase Ink Business Preferred Card

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

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

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

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

2. Amex Blue Business® Plus Credit Card

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

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

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

3. Amex Business Platinum Card

best credit card for real estate investors

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

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

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

4. Amex Business Gold Card

best credit card for short term rental business

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

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

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

5. Chase Ink Business Unlimited Card

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

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

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

Frequently Asked Questions

Can a landlord get business credit?

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

How do I use my EIN number for credit?

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

Which bank credit card is best with no annual fee?

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

Which credit card is easy to get?

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

What credit score do most rental companies use?

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

Final Thoughts

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

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

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

→ Join Business Credit Workshop today.

Best Credit Cards for House Flippers: The Ultimate Guide 2023

By Joe

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:

What to Look for in a Credit Card for House Flippers
The Best Credit Cards for House Flippers
Consumer Credit Cards for House Flippers
- 1. Chase Freedom Unlimited® Card
- 2. Lowe’s Advantage Card
Elevate Your House Flipping Venture With Business Credit
Frequently Asked Questions
Conclusion

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.

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

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.

2. Chase Ink Business Unlimited Card

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

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

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

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

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.

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!