Credit cards

Business Credit Card for New Businesses

New Companies Can Gain an Edge in the Market by Using Business Credit Cards

Business Credit Card for New Businesses
20 February 2023

New Companies Can Gain an Edge in the Market by Using Business Credit Cards

As a new business founder, you typically intend to enter the market with a groundbreaking advent, a slightly different goal from well-established businesses. Unfortunately, in most cases, you might not have enough funds to embark on the originality. But, with a business credit card, consider yourself rescued. These cards may aid you in confronting financial challenges. 

Business credit cards can provide early-stage startup founders with substantial cash. The card owners can also generate their business credit score through it for future concerns. This article highlights some of the best business credit cards for new businesses. Yet, before noting these, let’s first research the significant hurdles the new companies face. 

Initial Challenges Startups Face

Running a startup isn’t possible without facing different challenges in various competitive markets—primarily limited funding. Once a few clients fail to pay, or you haven’t managed the finances properly, destruction becomes inevitable. Savings, loans, and proper bookkeeping become your saviours. Additionally, attracting the right customers or clients and engaging the previous ones is momentous. 

Moreover, the constructiveness of the startups becomes dependent on the clients or even the founder. If one bailed out, the new business collapses. Above all, competition becomes a detrimental challenge for new companies if not handled timely. Businesses strive to increase their credit score and credit limit to surpass their competitors. 

How Is a Business Credit Card Crucial?

You should select at least one of the business credit cards specially designed for early-stage startups and new businesses to work more efficiently. It enables the owners to avoid extra expenses and manage the funds. Business credit cards benefit the owners to save their personal credits from depletion. Separate individual and business credit cards also make accounting and management effortless. For good measure, business credit cards treat the owners with rewards, bonuses, and other ample offers. One can also gain fundings for their businesses to grow.

Pick the Card that Fits Your Business Needs

Business credit cards can create a competitive advantage for startups. For this, founders must select the best suits their company’s interests. You may consider the following aspects of the different cards before selection.

Without an Annual Fee and Security Deposit 

Generally, founders look for cards without annual fees and security deposits. This helps businesses to cater to lower capital availability and cash flow problems. The Debite business credit card is one of those cards that pledges abundant rewards and benefits in exchange for nothing from the applicant. 

No Credit Score 

The credit score is a challenging concern for startups applying for business loans. In the early years, startups struggle with increasing their credit limit. In this case, the credit inquisition of the borrower’s credit score lowers their reliability. 

Travelling Benefits 

If you run a travelling business or require travel benefits, choosing business credit cards for this purpose will be beneficial. 

Long Repayment Plan 

A business credit card with flexible repayment limits is also a treat for startups. For instance, Debite provides customers with a flexible installation plan from 3 to 12 months.

Generous Rewards 

Business credit cards with expansive rewards, cashback, and bonuses are appealing. It will aid you in covering your business expenses or saving more. You can even use cashback for purchasing utilities.

Top-notch Business Credit Cards for New Businesses

As a new business, one of the leading challenges of getting a business card is having little or no credit score. Thankfully, a few business credit cards help you tackle that problem—Debite being one of them. Also, it would be nice to skip most of the bureaucratic process, on top of that, have some extra benefits. So let’s check which business credit cards on the market meet the demands of a new business.

Royal Bank of Scotland Credit Card 

This business credit card is profitable for startups struggling with cash flow. It proffers its consumers fixed cash back on business purchases. It has a minimum credit limit of around £500. Moreover, you don’t have to pay any annual fee in the first year of your approval, but it charges £30 after the first year. However, you can also waive the annual fee by spending £6,000.

Capital on Tap Business Credit Card

Capital On Tap Business Credit Card doesn’t charge any annual fee. In addition, it assures a 1% cash back on every purchase. It also offers free-of-cost ATM withdrawals in the UK. Applying for this business credit card isn’t difficult as the other cards. 

Barclaycard Select Cashback Business Credit Card 

The rewarding offers make this business credit card fortunate for early-stage startups. It offers a 3% flat rate cash back on the business spending for four months. Maximum credit level assurance without any annual fee has made it to our best cards list. However, it charges a standard interest rate of 21.9% on all purchases. 

Debite Business Credit Card 

Debite business credit card understands the hurdles of the new or growing businesses. Therefore, it has provided an easy-to-apply opportunity to founders. You can quickly issue a Debite business credit card for your new businesses. The business credit card offers startups funding instantly up to £250,000 to grow their businesses, a credit limit approximately ten times more than the market average. There is also the highly rewarding 4% cash back which is delightful for new businesses. Furthermore, it allows the founders to improve their credit score by offering flexible payment options (instalments) ranging from 3 to 12 months, making Debite the most advantageous credit card. Not only this, but Debite also gives an additional helping hand by responsibly managing the funds and cash flow.

NatWest Business Credit Card 

This business credit card doesn’t charge any annual fee in the first year, but you have to pay £30 each year afterwards. This card is only eligible for UK businesses. In addition, you have to make a business account under the name NatWest to avail of its benefits.

The Bottom Line 

Business credit cards are essential tools for startups to flourish. However, selecting a suitable business credit card can be challenging. Yet, it is worth the time. Above all, the business credit card keeps the new businesses stable even if they are near to depreciate. That’s the primary key to prospering in the business market. 

At Debite, we understand that a startup’s early years are a bit more formidable. Consistency and resource availability becomes the need of an hour. Therefore, we try to aid you in facing the challenges efficiently with our numerous financing and instalment options. It takes only five minutes to apply for a Debite business credit card, and the decision and approval come within twenty-four hours. 

Have your competitive advantage today!

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