Is a Capital One Business Credit Card Right For You

When securing the right kind of financing, both start up and ongoing, you want your business to be one that becomes and remains successful. Oftentimes, start up funding is achieved by seeking bank loans or funding from venture capitalists. However, once that initial funding has dried up, relying on small business credit cards to get you and your company through lean times can help you make large capital purchases when the need arises. Besides providing timely infusions of purchasing power, the Capital One Business Credit Card may have numerous other benefits that entrepreneurs can use to their advantage.

Key Advantages of the Capital One Business Credit Card

  • Itemized Monthly Statements (paper summaries/online summaries)
  • Easier to keep business and personal expenses separated
  • Rewards for using your Capital One Business Credit Card
  • No need to carry cash, balance or write checks
  • Gives an added security to your business

There are a number of factors you want to consider when determining if a Capital One Business Card is right for you.

Things to consider when choosing a Capital One Business Credit Card

  • Introductory Annual Percentage Rate (Intro APR) i.e. 0% on purchases; balance transfers
  • Into APR Period (How long does it last? i.e. until February 2010)
  • Regular APR (i.e. as low as 13.24%)
  • Annual Fee (i.e. free for the first year; $39 annual each year thereafter)
  • Balance Transfers (yes or no; what is the percentage on the balance transfers; i.e. 3%; is there a limit on balance transfers annually? i.e. 1-3 balance transfers annually)
  • Credit needed to obtain the card (Fair, Good, Excellent)

Most business owners are concerned with what rewards is available when searching for those cards. Does it offer one or more of the following:

Reward features and bonuses

  • 1% cash back
  • 25% annual cash back
  • bonuses on cash earnings such as airline travel, gas purchases; points accumulated from purchases on items such as:

    1. Building and hardware
    2. Computers and Electronics
    3. Office Supplies and Furniture
    4. Advertising and Shipping

Things to remember when choosing a Capital One Business Credit Card

  • Always remember to read all of the fine print
  • Compare cards; not all have the same benefits
  • Choose wisely; pick the best that is most suitable for your business need (may take some careful evaluation of your business expenses)

All of these are the key factors that you should be concerned with when you choose to apply for it. As you can see having a Capital One Business Credit Card is very beneficial to your business.