Racking Up Credit Rewards
III. Special Interest Credit Cards

Reward cards can be extremely beneficial to individual credit card holders. However, it is important to understand all of the reward cards available to ensure that you are choosing the right card to fit your needs. For instance, if you run a business, are a current or former military member, or enjoy donating to charitable organizations, there are a number of rewards cards and programs available that may provide more ways to save money and maximize your rewards.

Business Credit Cards

Business credit cards are just like any other credit card, but they are geared more towards large transactions and bulk purchases. If you are a business owner looking for a business credit card, there are several factors you should keep in mind.

What to Look for in a Business Credit Card

You need to make sure that your card matches your business’s needs. Consider the following when choosing a business credit card:

  • Carrying Costs. Look into the annual fees and interest rates for all of the cards you want to compare. If one offers more rewards, but comes with a significantly higher annual fee, the costs may not be worth the benefits.
  • Rewards. Different credit cards come with different rewards programs. If you fly a lot for work, you may want a card that offers the most airline rewards. If you do most of your work in a truck, you may prefer a gas rewards program. Make sure the rewards match your spending habits so you can actually use them when the time comes.
  • Employee Cards. For the most part, you should be able to get as many credit cards as you need for your employees. Some cards will limit this to a specific number though, so make sure it fits the size of your company.
  • Spending Limits. Only you will know how much money you have to spend for your business. If you need a credit card with a $100,000 limit, you will need to make sure you apply for a credit card that offers a large credit line. If you only need a $25,000 limit, you’ll obviously have more options to choose from. The limit you are given will largely be based on your credit, but some cards will automatically come with higher or lower limits. Choose the one that will accommodate your business spending.