What type of business credit card would best suit the needs of your company? We explain the types of credit cards on the market for small businesses and large corporations.
Most businesses operate with at least one credit card. For some, it is a regular spending tool that is paid off each month and for others it is an essential form of short-term lending to cover them when cash flow is down.
Source: Kochie’s Business Builders: News You Can Use
Our business credit card star ratings methodology identifies two main categories of business credit card users, as follows:
Profile Name | Description |
---|---|
Low Rate | Businesses that revolve a debt from month to month and pay interest on a balance owing. |
Rewards | Businesses that pay off their credit card balance in full each month and are eligible to earn rewards on their spending. |
Frequent Flyer | Businesses that pay off their credit card balance in full each month and would benefit from rewards through a frequent flyer program. |
Our ratings methodology compares the types of business unsecured credit and charge cards in Australia and assesses cards for an array of characteristics such as:
The type of card profile your business fits into will help indicate the type of credit card that will net your business the best value. Here are some general tips for each type of card user:
Irrespective of your user type, it always pays to shop around. The products on offer continually change, both in terms of the interest rate and the other features and benefits.
Putting aside less than an hour of your time to research the current offerings could end up being a great return on investment for your business.
Any advice provided on this website is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. Consider the Product Disclosure Statement and Target Market Determination before making a purchase decision. Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product. Research provided by Canstar Research AFSL and Australian Credit Licence No. 437917. You must not reproduce, transmit, disseminate, sell, or publish information on this website without prior written permission from Canstar.