What's the best way for small businesses to build credit?

What's the #1 way for small businesses to build credit from the beginning?
Expert answer by Mira Nurdin,
6+ years in marketing and finance, online shopping guru

The first and the most important step in building a small business credit is to get a business credit card. The card is an easy and convenient way to start- all credit card issuers report your credit activity to the credit bureaus thus starting a credit history of a newly opened business.

Business credit card for a small business is usually backed by owner’s personal credit. Some issuers report credit activity to the business credit file and business owner personal credit file, some report business credit only until there is a delinquency or a default on a card.

It will help you to achieve multiple goals at one shot:  help you to track business expenses for tax, accounting, and planning; establish a business credit, separated from a personal credit of the owner, earn business specific rewards – for example cash back on office supply, gas or business travel.

Read more about small business credit cards in our article.

Here are some of the best business credit cards:

intro purchase APR 0% for 9 monthsregular APR13.49 - 21.49% (V)
intro BT APR no intro offer 13.49,17.49, or 21.49%
rewards 1.5 miles/$1 +20,000 miles

Get 20 000 bonus miles for spending $3,000 in the first 3 months

 

excellent required

no annual fee

earn 1.5 No Hassle Miles for every $1

get 20,000 miles bonus after spending 3,000 in first 3 months 

read review
intro purchase APR 0% for 9 monthsregular APR12.49 - 18.49% (V)
intro BT APR 3% min $5 BT fee 12.49-18.49%
rewards 1-3% +25% annual bonus up to $250
  • get 25% bonus on last-year cash back up to $250 every year
  • earn 3% cash back on gas, office supplies and cellular
  • 1% cash back on all other purchases

 

no annual fee

3% cash back on gas, office supply, cellular service

1% regular cash back

low APR

up to $250 annual bonus

read review
intro purchase APR no intro offerregular APR17.49% (V)
intro BT APR no intro offer no BT fee
rewards 2% +$500 bonus
  • $500 cash bonus for spending $4,500 in the first 3 months
excellent required

$0 first-year annual fee, $59 after

earn 2% on all purchases, get up to 5300 sign up bonus by spending $4,500 on the card

read review

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