Boost Your Business Cash Flow With These Top No Annual Fee Credit Cards

If you run a small business, it’s worth considering opening a credit card account that is issued to your company rather than to you personally. Many banks now cater specifically for small businesses and they can offer big value savings and greater flexibility for you and your workforce.

How does a small business credit card work?

Small business credit cards work in a very similar way to personal credit cards. Your business will be rated in terms of spending behavior, cash flow and overall value, and a monthly credit limit will be set. If you handle your account well, you are likely to get an increased monthly limit as times goes on.

What are the benefits of a small business credit card?

Business loans can be hard to come by these days, whereas applying for a credit card is a simple process that can usually be done quickly online. A small business credit card can help your business in all sorts of ways - it can be used to finance operations in the short term when cash flow is tight, or you are waiting for payment from your clients. They can also be used for staff spending, if more than one person in your business needs to buy supplies without the painful administration of staff expense reclaims.

What types of small business credit cards are available?

There are many different types of small business credit cards available on the market. Think about how your business is run and what are your needs before taking out a credit card. If you want assistance managing cash flow, then a card that offers periods of interest free credit would be the way to go. If you think you will generally pay the balance in full by the due date, then consider a card that provides cashback or other types of rewards. Many cards have rewards that relate to travel products, either in the form of loyalty points with airlines or hotel chains, or discounts on insurance or airport lounges. If your business doesn’t require you to travel (of course you can always save them up for personal use if you are the business owner) then these rewards are wasted on you and you’d be better to look for a card with less rewards and perhaps a lower rate of interest.