The higher the limit, the more inventory they can buy at one time. The other thing they really care about is having a long float, so the best eCommerce credit accounting services for startups cards have loooonnngggg float. And as a business owner or founder of a startup, you should really care about making the accounting easy because that saves you a ton of money on your accounting. The easier the accounting is, the less your accountant has to charge.
Automated Expense Categorization
- Instead, they earn additional points on lab supplies and life sciences conference tickets.
- This could give you enough time to get your business off the ground before the regular interest rates for purchases kick in.
- Traditional corporate cards offer bonus points, cash rewards, or gift cards on purchases made; some of which are more rewards-based than others which are more cash-back based.
- You control spending with customizable limits and integrate with accounting tools.
- These are common scenarios for early-stage founders, and they often make it harder to get approved or find options that work.
Look for features that can help simplify your operations and save you some money. Some business credit cards offer built-in expense management tools, free employee cards with customizable credit limits, and integrations with popular accounting software. Other options include account alerts, real-time reporting, and virtual cards for online spending. These extras can make it easier to track spending, manage budgets, and stay organized as your business grows. However, corporate credit cards have disrupted this tradition by basing business card eligibility on business structure and cash flow rather than credit scores and personal guarantees. You won’t be able to carry a monthly balance with a corporate card, but you will get access to funds for business purchases and employee purchases (generally with higher credit limits).
Compare Business Rewards and Cashback Credit Cards
- Unlike personal cards, business credit cards for startups cater to unique business needs, such as funding operations or tracking team spending.
- Startups with an excellent credit score and a travel budget can accumulate miles using the Capital One card.
- The 0% APR period applies to balance transfers made during your first 30 account days.
- If you’re interested in understanding more about your business card, check out our introduction to business vs. personal credit cards.
- Dive into our curated list to find the perfect fit for your business.
- Compared to other company classifications, like a C-Corp or S-Corp, I usually advise LLCs to go for a well-rounded, points-earning credit card like the Ink Business Preferred® Credit Card.
According to Ramp, customers save up to 2% through these insights. Stripe offers $50,000 in free payment processing after $5,000 in card spend—a strong incentive for high-volume startups. Stripe tracks your spending each month and divides your spending into specific categories. You get 2% cashback on whatever your top two categories are each month. In addition, there’s no impact to your personal credit score when you apply, and your credit limit is based on financial factors like your revenue and funding raised. While all five of these cards work this way, they have plenty of differences.
Separate personal and business finances
You can earn rewards even faster by adding employee cards at no additional cost. The Ink Preferred also has one of the largest welcome bonuses on the market. Plus, it offers flexible reward redemption options, including transfers to over a dozen leading travel partners and Points Boost offers through Chase Travel℠. The Ink Business Cash card is built to grow with you as your account is automatically reviewed at least once every six months to see if you qualify for a credit limit increase. Plus, you can add employee cards for no extra cost, and the Ink Cash offers an intro APR that gives you the flexibility to pay off qualifying purchases over time without interest. Employee cards are free, and you’ll get extended warranty¹ and purchase protection¹ for eligible business purchases.
- Card set-up is super easy and integrates with Quickbooks for seamless mapping and reporting.
- Ramp is ideal if your startup will have a large, enterprise sales team that will need expense policies and easy-to-use expense management software.
- Not all issuers report business activity, though, so it’s worth checking your business credit report if that is an important factor for you.
- They offer a special deal with no interest for 6 to 12 months on new purchases or balance transfers.
- Swipesum is committed to providing innovative payment solutions and exceptional service to its diverse clientele.
- And the local currency might be particularly useful if you have hires around the globe, like many of our clients do these days.
- The company has since expanded its product capabilities to include bill payments, procurement, and accounting integrations.
- Businesses of any size will enjoy straightforward minimum cash-back opportunities on this card plus increased earnings on travel when booked directly through Capital One’s travel booking site.
- Startups and sole proprietors with little to no business credit might worry about getting approved for a traditional card.
- Reliable accounting software is a critical aspect of keeping your business on track.
- Choose a plastic provider that “gets” startups enough to base your spending limit on the amount of capital in your bank account.
The bonus categories on this card lose a lot of their sizzle when you factor in the spending limits. You’ll only earn at 3% or 2% (depending on the purchase category) for the first $50,000 in qualifying purchases combined each calendar year, which could be too low for some companies. Office supply and most telecom purchases earn at an incredible rate on this card, which could lead to meaningful rewards for LLCs. The card also offers a 0% introductory APR on purchases for 12 months, then a standard APR of 16.99% to 24.99% variable applies for purchases and balance transfers. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies. Use it strategically for affordable access to capital when you need it.
Why We Chose Brex As The Best Business Credit Card For Startups
If you already know what stage your business is in—or what you’re prioritizing—use this matrix to quickly identify https://www.citybiz.co/article/785736/the-real-value-of-accounting-services-for-startups/ which card features should be non-negotiable. The United Business Card is a great choice for startups that prefer traveling on United Airlines. You can quickly rack up United miles with double mileage rewards on business expense categories like dining, gas, and office supplies. Plus, perks like a free checked bag, two passes a year for United lounge access, and priority boarding are appealing to business travelers.
Again, it’s not the most fun for us to work with, but those rewards cash back are really, really valuable. However, as we’ve already mentioned, they do put personal liability onto the founder in many cases, so that is a possible deal breaker in our opinion. ECommerce companies are buying a ton of inventory on that credit card.
What’s your favorite small business card—and why?
Whenever possible, we also feature cards that are available at various credit levels and price points. Chase Ink credit cards are offered through JPMorgan Chase, one of the oldest financial institutions in the United States, with over $2.6 trillion in assets under management. But even though you’re applying for a business credit card, the issuer may still check your personal credit scores. This means that your personal credit could play a role in whether you’re approved for the business card — and it could also be affected by your use of the card. Some rewards cards have annual fees so be sure to compare any fees with how valuable the rest of the card may be to you. That way, you can buy what you need for your business and pay off the purchases overtime.
