How 0% Business Credit Can Help Build Your Business??

Running a new business and in need of capital? 0% business credit card can be a remarkable way to acquire capital without undergoing the tedious way of qualifying for loans. The process of qualifying for business credit cards is much more straight-forward and hassle free. The main criteria is that you must have good or excellent personal credit score (typically a FICO score of 690 and above). If so, you can most probably get approved for business credit cards. The second criteria is that you must have a business entity with an EIN number. This can be a corporation (C or S) or an LLC. Opening a business credit card and maintaining a good payment history is one of the easiest ways to establish and build your business credit score. Managing cash flow is another benefit of business credit cards. Even profitable businesses experience cash flow gaps. In such cases, you can use your card to pay an invoice, buy supplies or adapt to an emergency, then pay down your balance when revenue lands in your bank account. And if you can pay off your card before the bill is due, all the better. “A business credit card is a short-period-of-time line of credit,” says Vasquez Hernandez, who has also advised entrepreneurs through small-business mentoring organization SCORE. When you need to make a purchase quickly, you can “use your business credit card to try to buy this thing and keep business running.” He added, “If you have a supplier or a vendor that is going to give you a good discount because you are using cash, take advantage of that, by using business credit card” Vasquez Hernandez says. Business credit cards are a useful way to separate your business and personal finances. When you use a dedicated business card for your business spending, it can be easier to see all your transactions in one place and share them with your accounting software. Card lost or stolen? Business credit cards limit your liability for unauthorized use, like personal cards do. You generally won’t be on the hook for more than $50 if one of your business credit cards is used illegitimately. “You get peace of mind knowing that if there’s any fraudulent changes, you can dispute them,” Schwabe says. If you need capital for your new or existing business, AlmalCredit can help. Worried that your personal credit report has blemishes and low score. We can help to clean up your credit report and increase your score, and then get you qualified for 0% business credit cards. Contact us by phone or email and we can discuss about your situation and see if 0% business credit cards is right for you.