Business, small or big are increasingly depending on business credit cards for various financial activities related to the business. The ease, manageability and savings they bring to any organization makes them indispensable. Getting the right business credit card for your small business is not a big task if you keep these three things in mind.

1. How will you use it?

Are you going for rewards associated with the business credit card, or want discounts offered on business supplies. Do you fly frequently, and want to get deals on hotel stay and airmiles? Business credit card come with a variety of options. If you have your priorities clear it will greatly help you get the right business credit card.

2. What are the interest rates and other fees?

A 0% Intro APR Business credit card with low interest rates on balance transfers, purchases etc. would be a good credit card to start with. Check out the APR, Annual fees, cash withdrawal fees, late payment penalties, minimum monthly payment requirements, balance transfer fees and whether the credit can be revolved or not. Compare different credit cards which offer the features you want and settle for the one that costs the minimum. If you want a business credit card that can be given to the whole organization or your employees make sure that the credit card has this feature and doesn’t charge you much on taking additional cards. Taking these points into consideration will ensure that you pay the least amount to the credit card company.

3. What are the restrictions and other fine prints?

The rewards might be very attractive but credit card companies apply restrictions such as blackout dates, limits on reward points that can be earned during a year, expiry of reward options after a certain period etc. These restrictions can kill the reward benefits. Stay clear from credit cards which apply restrictions. Also, written in fine prints are terms that if ignored could cost a lot in terms of money and mental peace. It is particularly advised to read them carefully and understand their implications on credit card ownership. If you have any doubt get it cleared by all means.

Business credit cards are especially designed for business purposes and must be used as such. Using a business credit card for personal expenses might hurt in the long run and violates the basic principle of separating the business and personal finance. If the right card is selected and used properly the business credit card can be a vital asset for your small business success.