If you have thought about starting a small business, and about ways of expanding it rapidly, then you would have definitely thought about getting a business credit card without personal credit.

However, you should know that getting one is a Herculean task as you have no financing partners to rely on, nor do you have any technical skills that can aid you. These are the basic requirements you need to get a financing company to pay you a sum of money that can be used for business growth, with no personal guarantees like collateral or personal credit for that sum. So what is the option left? You are about to find out shortly.

What’s the Solution?

Many financing companies like Chase, Amex and Discover issue business credit card without personal guarantee. These companies understand the plight of the small business owners who have only a small business credit and are ready to help them. If you want one of these companies to sanction you a business credit card, all you need to do is convince them that your business is viable. If you can do that, they will give an approval of your good credit and this way you can build business credit. However, in order to qualify for an approval, there are certain things you need to know.

How to Go About the Process?

First and foremost, you will have to prove it to the company that you have a good business-credit. Your business credit will be defined as good or bad depending on your business credit report that is prepared by the credit reporting agencies: Dun & Bradstreet, Equifax Business and Experian Business. After doing so, you will have to find companies like credit card companies or vendors and suppliers who can give you credit without considering your credit report score as the basis. After that comes the hardest part. You will have to prove to the business credit bureaus that you have a good payment history. All these are necessary for the improvement of your business profile and for proving that your company is viable.

Once all this is done, you have to start approaching financing companies. It is important when and how you do this. Don’t be surprised if the lenders ask you for any IDs, business licenses and some other business documents. These will be asked as per his will but you can be sure that none of them will be tying you to your personal account. Your attempts at building business credit will go in vain if you do not produce the right documents. Your application might even get rejected.

You should also know that you might be misguided by some websites that say, in order to get an approval form a financing company, all you need is a good credit score. However, that is not the reality. Maintaining a good business profile is just as important. You should have high reporting limits and your chances of getting a business credit card without personal guarantee are directly proportional to that factor.

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Do you have credit cards? Do you know exactly which fees you pay, and how much of your monthly payment is devoted to such fees? If not, you’re in good company; too many of us don’t know exactly what we’re paying for when we make our monthly payments. And card companies have been accused of making credit card terms and conditions too complicated for the average card holder to understand. What’s a consumer to do?

First, know what’s out there. Fees come in the form of annual fees, late fees, penalties, fees for cash advances, fees for international purchases, and even fees for paying your bills over the phone. Fees are a slight nuisance to us, but they are big business for card issuers, who took in $25 billion in late and other fees in 2006. Yikes!

There are some steps you can take to reduce the amount of money you pay out in fees. First, sign up for a card that does not charge an annual fee. Never use a credit card to take out a cash advance at an ATM. Those cash advances incur an average 3% fee upon withdrawal, and begin to accrue interest right away. Some interest rates on cash advances can reach 25%! That’s throwing money away.

Likewise, don’t use convenience checks. They incur fees when used, and more fees if they get return or if you place a stop on them. Convenience checks and cash advances might have been no-brainers, but did you know that using your credit card to purchase money orders or lottery tickets can also bring fees? It’s best to use cash or debit for those purchases.

International travelers will find foreign-transaction fees on their credit card statements, and to make matters worse, these fees aren’t always accurate. Travelers abroad who purchased items with their credit cards early in 2006 are now entitled to refunds. (Visit http://www.ccfsettlement.com or contact your card company to see if you qualify for this refund.)

If you don’t want to throw your money away on hidden fees, think about applying for one of the best low-fee credit cards. According to Kiplinger.Com, the best of the best are ranked thus: Simmons First National Bank (P), with a recent interest rate of 7.25% and a cash advance rate and fee of 11.25%/3%. This card has no annual fee, and a 25 day grace period. Late and over-limit payments are subject to $29 fees.

Next is the Capital One Platinum Prestige (P), with a recent interest rate of 7.9 and a cash advance rate and fee of 19.8%/3%. This credit card doesn’t charge an annual fee, and carries a grace period of 25 days. Late payments and over-limit charges are subject to respective fees of $35 and $29.

Finally, we have the Pulaski Bank & Trust (G). It has a recent interest rate of 7.99. Cash advances come at a 7.99% rate and no additional fee. There is a $50 annual fee and a 25 day grace period. Late payments and over-charges will both garner a $29 fee.

How bad are credit card fees? They’re not pretty, but you do have some control over the card you choose to carry. Remember, if you’re uncertain about certain fees, call your card company and ask someone to explain them to you. That’s what customer service is all about.

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Imagine hiring an accounts keeping agent for free for your small business. This is what small business credit card does for you indirectly. However, this is not the only benefit. There are a lot of other benefits too. It’s for these benefits that the small business credit cards have gained the status of a necessity today. Let’s see what these benefits are.

1. Auto-segregation of business expenses

This is the most important benefit from using a small business credit card. You just have to ensure that you make all your business payments using your small business credit card and your monthly credit card statement will clearly and accurately reflect all your business expenses. You can use this further for accounting purposes or business planning.

2. Rolling credit

Small businesses, as any business, incur expenditures first and earnings later e.g. a business might need to make purchases, pay their staff, incur maintenance costs etc, all towards building a product or providing services to their clients. The client is, of course, going to make payments. However, there is a time lag between these expenditures and earning. A small business credit card allows you to roll-over the credit i.e. you can pay for your expense using your credit card especially when you are expecting the client to pay in a month or so. This way you are rolling-over the credit to your small business credit card supplier. Thus the money to fund those expenses doesn’t come from your cash account

3. Emergency help

This is something which every small business requires. Small businesses experience crests and troughs. You never know when an immediate need for money might arise (on account of new purchases etc for a new project). More importantly, such a need generally arises from more/new business and you would surely not want this good news to be transformed into bad news. In such situations, a small business credit card can become really handy and bail you out.

4. Rewards

As with personal credit cards, the small business credit cards too have membership rewards. When choosing a small business credit card, this factor should also be given proper importance. Based on the requirements of your business, the rewards program of one credit card might suit you better than that of another credit card e.g. if your business involves a lot of air travel, a credit card offered by an airlines might give you additional benefits in terms of how fast and how much award points you earn. You can then barter these points for other benefits or products.

5. Other benefits

There are a lot of other benefits too which apply to small business credit cards. Though some of them are similar to what you have for personal credit cards, the ones for small business credit cards generally have something extra with them. These benefits include: cash back option, discounts on certain merchandise, free travel insurance, free baggage protection, discounts on hotels and rental cars and many more. Again, since these vary from company to company, you might as well look for these when choosing a small business credit card for your business.

With so many benefits, small business credit cards are really indispensable and demand attention.

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The Discover® Platinum Card, issued by Discover, is designed for those with very good credit who are looking for a cash reward credit card.

Through the reward program, cardholders earn a 5% rebate for purchases made in popular categories that change four times a year like gas stations, restaurants, clothing stores, travel, and more. Cardholders also earn up to 1% for general purchases and .25% for purchases made at select warehouse clubs and discount stores.

Discover Platinum Card offers its members complete peace of mind. With a zero fraud liability guarantee and advanced fraud early warning alerts, card members can rest assured that their accounts and personal information is safe. Discover Platinum Card even offers fraud specialists dedicated to helping you 24 hours a day.

Cardholders never need to be afraid to make purchases online, because Discover Platinum cards offer secure online account numbers to all of its members. The customer service team at Discover Platinum Card is available all day everyday to help you with any questions that you have about your card or your account. You can even manage your account online. With its friendly customer service team, fabulous rewards and outstanding fraud protection, Discover Platinum Card is a sensible choice for all your credit needs.

Key Features :

* Interest as low as 10.99%

* 0% Intro APR* for Purchases and Balance Transfers for 12 months

* 5% Cash back Bonus® in popular categories that change four times a year like gas stations, restaurants, clothing stores, travel and more*

* Up to 1% Cash back Bonus on all other purchases automatically*

* Unlimited cash rewards that never expire

* $0 Fraud Liability Guarantee

* Easiest online Account management options

* No Annual Fee

* DOUBLE your Cash back Bonus (turn $20 into $40) when you redeem for gift cards or certificates from many of our 70 brand name partners.

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The gush of applications for instant approval credit cards have forced many business owners to resort to using credit cards in their businesses, and this was determined by the 2009 small business survey. Since April the top covering recipients cut all their small business loan balances to about eight million dollars. Meanwhile conventional loans get desiccated and some lines of credit are also cut, so the banks have decided to channel some more of their small business extending credit.

And although some of the more prominent lending companies have left the sense there are still some of them like J.P Morgan Chase Card Services, this particular company recently launched four more credit card that are designed for the small business owner. And as these instant approval credit cards get more popular the business owner has to be sure they check out every possible avenue where the card is concerned so they know which ones can provide the best rates before they actually apply. Many of the card that are in circulation now offer cash back rewards, and in some cases the cash back are unlimited.

And cards like these are great because they help you to get rewards from everyday purchases, and make sure that you take a look at the fine print on the card and fully understand what it is about. Another thing is that getting a frequent flyer card is great for small business owners who travel, and once you have reached certain points they can be redeemed for maybe a night at a hotel which is a participant.

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