With the range of low rate business credit card offers on the market, it makes sense to compare the different deals available in order to get the best possible card for your business. The fierce competition has meant that many business charge card providers offer introductory interest rates that are low or non-existent. If you are looking for a low rate business credit card, do consider the zero interest rate business cards available to you. Let us take a look at these cards in more detail and consider how they can be used to your advantage.
A low rate business credit card can be used to reduce business costs. You may be offered a low rate APR for a limited period of time, typically 6 months in duration or longer, depending on the terms and conditions of the card. This is what is known as the introductory period of the card and the cardholder can use the card to make purchases and pay only the minimum monthly amount required, without incurring further interest rate charges. Charge cards that offer rewards can also be found. These rewards may include cash back or air miles. However, it is essential to remember that once the introductory period expires, the usual APR will then apply to the account.
When it comes to choosing the best low rate business card to apply for, it is essential to read and understand the terms and conditions associated with the card. However, remember that a card with a zero or low interest rate does not necessarily mean that it is the best card. The card may be associated with fees such as balance transfer charges and penalty fees so make sure you look into these.
When it comes to choosing a low rate business credit card, it is essential to consider whether the card has been specifically designed to aid business owners in their everyday tasks. You will need to look at whether the card will provide you with purchase protection in case you have a problem with a purchase you make with credit.
You will need to know whether you will be sent account summaries on a yearly or quarterly basis and whether your account allows online access. Furthermore, find out whether your card provider offers excellent customer service whenever you require it the most.
It is important that your chosen business credit card provides you with an affordable interest rate. Furthermore, your chosen card should help you to build up an excellent business credit rating in order to aid your future business plans.