San Antonio Business Credit Cards
Business credit cards are a great way for businesses to track their expenses, get rewards, build credit, and, of course, utilize credit if cash isn’t immediately available. In this article, we’ll discuss business credit cards, how they work, and how to get a credit card for your business in San Antonio.
What Is a Business Credit Card?
A business credit card works like a typical credit card: it allows the cardholder to pay for goods and services with borrowed money, which is then paid off on an ongoing basis.
However, business credit cards often differ in terms of the features they’re equipped with; they are tailored to entrepreneurs and offer benefits for businesses, such as higher credit limits and the ability to provide cards for employees. They’re essential for separating your personal and business finances, making your accounting simple and streamlined.
Unlike other financial services and business financing, you can easily apply and qualify for a business credit card, even if your business is small or you’re a sole proprietor. However, the application entails a personal credit history check.
How Do Business Credit Cards Work?
A business credit card works just like a typical credit card, but you should really use it for business purposes alone to avoid bookkeeping mishaps and liability issues. In terms of actual function, you can charge your business expenses to your business credit card and receive a statement that lists how much you borrowed.
It’s important to make payments on time, even minimum payments, at the very least. Strive to pay out the balance in full, as you’ll pay interest on the remainder, and the annual percentage rates on business credit cards (which are typically business loans) go up to 30%. There are also charge cards, but those are best reserved for businesses with a robust cash flow.
Benefits of Business Credit Cards
Business credit cards offer numerous benefits, as they allow you to make purchases that cover your business needs. If the installments and payments are made on time, the card issuer (a bank or federal credit union) will report your payment history to the credit bureau. This can significantly boost your business’ credit score.
Additionally, you can get rewarded for spending money on your business credit card by using a cash-back business credit card that allows you to get a percentage of what you spend. Some card issuers even have their own reward point system that provides rewards such as gift cards or additional credit.
How to Apply for a Business Credit Card in San Antonio
Applying for a business credit card in San Antonio is simple. Contact us or visit a River City FCU branch and apply for business banking, which also includes a business checking account with various mobile banking and online banking capabilities.
River City Federal Credit Bureau offers a Visa Credit Card for your business which includes the following:
No annual or transaction fees
$0.00 Cash Advance fee
Competitive rates (View current rates)
Earn RCITY Rewards for every $1.00 you spend on qualified purchases*
*Qualified purchases do not include cash advances, ATM transactions, convenience checks, or balance transfers.
Get Your Business Credit Card in San Antonio Today
Business credit cards are a powerful tool for your business. Call or visit a River City FCU branch today to find out if our business credit cards are right for your business in San Antonio.
