What's the best way for small businesses to build credit?
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:
| regular APR | |
Get 20 000 bonus miles for spending $3,000 in the first 3 months
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
| regular APR | |
- 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
| regular APR | |
- $500 cash bonus for spending $4,500 in the first 3 months
$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
