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Business Credit Cards???

The-Credit-Disciple
Frequent Contributor

Business Credit Cards???

Great evening Fico Fam😀!!

What are the benefits of Business Credit Cards, compared to your regular Credit Cards?

Which CC company has the best Business Credit Cards?
Whats your experience with Business Credit Cards?

Thanks in advance Fico Fam😀
Message 1 of 9
8 REPLIES 8
mongstradamus
Super Contributor

Re: Business Credit Cards???


@The-Credit-Disciple wrote:
Great evening Fico Fam😀!!

What are the benefits of Business Credit Cards, compared to your regular Credit Cards?

How do they help your business?

Thanks in advance Fico Fam😀

not sure how they would help your business, but they don't show up on your personal credit report and some of them have pretty nice SUB



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 2 of 9
601flyguy
Established Contributor

Re: Business Credit Cards???

Builds business credit  and most don't show up on personal reports.

 

I like amex. SP approval for current members and they don't make u jump through hoops like you would with some biz cards.

2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 3 of 9
Dinosaur
Moderator Emeritus

Re: Business Credit Cards???


@mongstradamus wrote:

@The-Credit-Disciple wrote:
Great evening Fico Fam😀!!

What are the benefits of Business Credit Cards, compared to your regular Credit Cards?

How do they help your business?

Thanks in advance Fico Fam😀

not sure how they would help your business, but they don't show up on your personal credit report and some of them have pretty nice SUB


Note, there is a MyFico thread that sets forth the lenders that DO REPORT your Business Cards to the credit bureaus. Pays to research if a Business Card is needed that does not report to the bureaus.

Message 4 of 9
nu-stat
New Contributor

Re: Business Credit Cards???

I think Capital One Business does report to personal

Message 5 of 9
adamj023
Regular Contributor

Re: Business Credit Cards???

Capital One reports to personal credit bureaus and that is a major disadvantage for real business holders who want to keep business seperate from personal.

 

American Express and Chase tend to have the most competitive offerings for business cards.  That isn’t to say all the others are bad especially if you have existing business relationships with those institutions.  If I had to pick just one card for all business I would choose American Express.  If I picked two and needed a non American Express I would choose Chase.  I haven’t seen anything worthwhile with other issuers as of now.  

Message 6 of 9
SouthJamaica
Super Contributor

Re: Business Credit Cards???


@The-Credit-Disciple wrote:
Great evening Fico Fam😀!!

What are the benefits of Business Credit Cards, compared to your regular Credit Cards?

Which CC company has the best Business Credit Cards?
Whats your experience with Business Credit Cards?

Thanks in advance Fico Fam😀

1. The important thing about business credit cards is that they are for your business spending, which should be kept separate from your personal spending.

 

2. Most don't report to your personal credit. Exceptions are Capital One, TD Bank, and Discover business cards; they do report to your personal credit.

 

3. IMHO the best business credit card lenders are Amex and Chase. As to which card is best, it depends on you and what you need in a card.

 

4. My experience has been that it is easier for me to get cash back and rewards with a business card because I have bigger spends on business cards than on personal cards.


Total revolving limits 653000 (575000 reporting) FICO 8: EQ 716 TU 747 EX 715

Message 7 of 9
adamj023
Regular Contributor

Re: Business Credit Cards???

I’ve heard bad things about Capital One for their business checking products and their Credit Card reports to personal so that is a non starter.  Capital One’s personal products are very competitive however.  I don’t like TD Bank either.  PNC has some decent products and is lowering their minimums on business checking in 2019.  Wells Fargo has a low minimum business checking as well and business card offerings.  I also dislike Bank of America.  BBVA Compass is very competitive in markets where branches exist.

 

Each market is different as there are plenty of institutions which only serve a given area.

Message 8 of 9
MansaMusa
New Contributor

Re: Business Credit Cards???

I have a business credit card with PNC and no personal or business checking account. They started me with $5K which felt like a waste, but I look forward to bumping that up overtime; they constantly have BT offers with checks. I think I had to apply in branch.
Message 9 of 9
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