Last updated on November 27th, 2017 at 10:30 pm -
In recent days, credit cards have become easier to acquire. All you need is to complete and submit a simple online application from your company. Depending on your credit and that of the business you work for, you will be informed whether your application is successful or not. For your application to be approved, you will require to have a good credit score. For those who have bad, fair or limited credit history, however, you can go for other options. For instance, you can go for an issuer who gives approved business credit cards, prepaid business cards and business credit cards. Alternatively, you can go for a business credit partner.
There are numerous advantages of holding a business credit card. First, it is very easy to get approval, especially for unsecured business credit cards compared to the bank lines that were used earlier. Cards also present flexibility as one gets several payment options in each billing cycle. Business owners view the cards as a financial back up in case they run out of cash. This is another advantage. Additionally, they allow one to easily make purchases online as well as clear invoices. Due to the fact that most companies provide financial statements when need arises, the credit cards can be used as a record keeper.
Basically, there are two types of business credit cards: the secured and unsecured. A secured business credit card has definite approval, making it the easiest business credit card to get approved. This is because, as you apply for one, you are promising collateral to guarantee the line in the form of a security. An unsecured business credit card is determined by the strength of the guarantor and the credit ratings of the company. To be considered for this, your credit score should be in the 680+ range. Another crucial determiner is the length of financial history, inquiries, new credit and the credit utilization rate. The ratio should be 50 percent or below.
The Capital One QuicksilverOne Cash Reward Credit Card
This credit card has risen to the spotlight following its numerous features and benefits. Holders of the credit card receive unlimited rewards of 1.5% from every purchase they make. This is without any limitation on how much one can earn. Holders of the credit card are allowed to redeem their money for any amount. The rewards collected, however, do not expire for the life of the client’s account. The QuicksilverOne gives access to a higher credit line. This transpires with credit steps after the customer has made his or her first five monthly payments on time.
With what is the easiest business credit card to get approved, you enjoy tools that help you monitor your credit profile easily. Obviously, most clients will want to have maximum security. With QuicksilverOne, you get account alerts delivered either through email or text messages. These are helpful in that they allow you to stay on top of your account’s security. The company also permits you to choose your own payment method and monthly due date. The cards come with $0 fraud coverage in case your card is lost or stolen. Another benefit of the credit cards is that you can set them to automatically make payments at the end of every month. Additionally, you can transfer your balances of higher-rates into the cards.
Capital One has integrated state of the art technology and innovation in creating these cards. There exist mobile phone apps that work together with the credit cards. The Capital One Mobile App allows you to have access to your account without geographic or time limitation. You can use it to pay your bills, carry out any transaction and view your account’s balance. The Capital One Wallet is an app that helps you keep track of your credit card spending. This happens in real time. The other advantage of the business credit card is that you can add an authorized user to your account. Customer care is always ready to assist you in case of any query.
The benefits of using the QuicksilverOne are boosted by its extended warranty. Clients receive additional warranty protection at no extra cost for goods purchased using their credit cards. If you rent a vehicle with your credit card, you will be covered for any damage on the car in case of collision or theft. If you have a travel accident and it happens you had used your credit card to get your fare, you will get insurance cover if you lose your limb or life. Again, the company will compensate you if you had bought an item using your credit card should you get a cheaper one within 60 days. The annual percentage rate (APR) for purchases is 24.99%, but there are no interest rates for balance transfers and purchases. To hold the card, an annual fee of $39 is required. Contact us to acquire the easiest business credit card to get approved.
Credit One Bank Platinum Visa for Building Credit
For a person with bad credit, it is almost impossible to find a credit card that will not cost you much. With the Credit One Platinum Visa, you can check whether you qualify to get the card without messing your credit score. The card is unsecured and does not necessitate any deposit. It is one of the easiest business credit card to get approved as well as increase your credit score. This is because all your activity is reported to all three major credit bureaus every month.
The Credit One Unsecured Platinum Visa Card does not have any rewards. For the APR, customers get a variable rate of between 15.65 percent and 24.15 percent. For cash advances, the APR is 17.9 percent to 25.15 percent. The existing transaction fee can be either 3 percent or 8 percent. Once you get the card, the annual fee for the first year ranges between $0 and $75, but for the years that follow it is between $0 and $99. The annual fee is divided into 12 portions so the money is sent monthly. Additionally, there exists a $19 authorized user participation fee annually. The foreign transaction fees are within normal, 3 percent, but is not listed among the other fees.
For sure, the Credit One Bank Cash Bank Credit Card can be useful to clients who have fair credit and want to build healthy credit. The company offers credit lines from as low as $300. The card additionally has one percent cash back on eligible purchases. For this, terms and conditions apply. Most applicants with fair fico scores end up qualifying.
Journey Student Rewards from Capital One
With responsible use, the student rewards credit card can help students build their credit. The card is made for people with average credit. These persons can easily get approval for the credit card from which they earn one percent cash back from all purchases. If you pay funds on time, it is an advantage because it increases your cashback to a sum of about 1.25 percent. The Journey Student has the CreditWise tool that grants you the chance to access your account from anywhere and at any time. Additionally, the tool allows you to monitor your credit profile. This tool is available to anyone at no extra cost, proving that it is the easiest business credit card to get approved.
With this credit card from Capital One, you can have a higher credit line. This is through the Credit Steps, which works after you make the first five monthly payments in good time. For owners traveling or studying abroad, they are not charged any transaction fee when buying items. The purchase rate is at 24.99 percent APR. Its APR varies with the market depending on the Prime Rate. The card has no annual fee. Journey Student does not charge interest on purchases if you have paid your previous balance in full. This should be by the due date of every month. The due date is at least 25 days following the close of the billing cycle.
Like any other Capital One card, the card comes with fraud coverage in case of theft or loss of the card. Card owners also receive email or text messages that keep them updated over their accounts. Additionally, Capital One’s Financial Education site avails tools, resources and tips that help you understand your account as well as manage your credit. The card manufacturers are also working in conjunction with Apple Pay. This allows card owners to use their credit cards to buy goods on the go.
How to Get the Best Interest Rates for Your New Business
It is spot on that unsecured lines of credit are the most rampant type of business financing. This saves many of the entrepreneurs who find financing completely impossible to obtain.e The ease of unsecured credit is that it can be obtained by almost every business owner. For the past 10 years, LenCred has been helping small business owners get unsecured credit. To qualify, however, the business owner or the guarantor must have good credit. It does not have to be perfect, but at least a little solid. Through this, LenCred has been able to help many small business owners acquire financing.
It does not take much to get approval for unsecured business lines of credit. Indeed, it is the easiest business credit card to get approved. One needs to understand what the unsecured types are and the different forms that they exist in. You also need to understand what financial institutions to look out for while looking at your credit profile. This is because the lenders will not give any intro offers. Once you know this, you increase your chances of getting financing for your businesses.
How to Get Approved for Unsecured Business Lines of Credit
Even if it is the easiest business credit card to get approved, it is important to have a personal credit card running in your name before you apply for an unsecured business line of credit. More to that, it should display a stable personal credit history. Your personal credit history should date back to at least five years. The card that runs under your name should have been in use for at least one year. This will be helpful in showing the lenders that you can manage a credit card debt over the years. This way, your chances of getting approval will be boosted.
One needs to use his/her own credit because it assures the lender that the customer has integrity and the ability to make timely payments for the credit account. For sure, unsecured business financing in a risky business to run. For new business owners, the only way that a creditor can determine your credit worthiness is by looking at your credit history.
Keep an Eye on Your Credit Utilization
If your personal credit card is over 30 percent utilized, you can be sure that you will be denied unsecured credit. Credit card owners are advised to keep their usage under 30 percent of the available credit limit. Anything above that will give your credit provider the impression that you have used your credit cards to the maximum. However, you can cure this problem by paying the balance to get the easiest business credit card to get approved .
Pay Your Bills in Time
If you are determined to obtain unsecured credit, you cannot have any delinquent accounts reporting on your credit profile. Some of the things that can cause your line of credit to be denied include bankruptcies, late monthly payments, repossessions, collections and unpaid tax liens. You are also required to have a clean six months off hard inquiries. Hard inquiries occur when a lender pulls out your credit report in the process of deciding whether they are going to extend you new credit.
Yes, You Can Get Unsecured Business Line of Credit for a Startup!
Unlike many other forms of small business financing, you can get unsecured credit for a new business. This is the easiest business credit card to get approved. As long as the business owner can meet the credit approval requirement, then the rest of the process is quite easy. In fact, for this, you do not require to have a proven track record for your business, the revenue for the previous year and the sales.
The credit obtained can be used to pay for any business expense. Additionally, depending on the lender, you can get cash rewards when you use your unsecured business line of credit to make some specific purchases. Some of the common uses of the unsecured business line of credit are such as purchasing fuel, airline tickets, paying contractors and employees, paying for marketing as well as advertisement.
For a person who has met the minimum required credit criteria, LenCred can be of help in getting unsecured business line of credit; you can get as much as $250,000 in about 90 days. Additionally, the LenCred team can help you obtain an unsecured business loan. Contact LenCred today for guidelines and assistance.