How to Get a Credit Card for a New Business

Just because you fill out a business credit card application or authorize a major credit card issuer such as MasterCard, Visa or American Express to review your business' credit history doesn't mean you must accept the credit card offered by the issuer. If you've just applied for a business credit card and want to consider if the card is right for your business, take the time to review the paperwork and make inquiries as needed. Once you've done your research, you are ready to accept your new business credit card.

• 1

  Contact major credit card brands such as MasterCard, Visa, American Express and Discover about obtaining a business credit card. Most major brands offer business credit cards tailored for small businesses, mid-size businesses and corporations. Read the terms and conditions of each credit product before making a decision.

• 2

  Apply for a business credit product based on how the line of credit will be used. For example, if company owners are frequently required to fly for business trips or conduct business abroad, opt for a travel card. The multi card is also available, which is ideal for companies wanting to merge travel, purchase and fleet accounts.

• 3

  Review the fee schedule and learn how fees are accessed and at what rate. Inquire about accounts payable options and global acceptance, if using the card internationally and ask about the rate at which fees are billed.

• 4

  Inquire about introductory periods for interest rates, card promotions and cash back bonuses. Ask how long introductory periods and promotions last and if certain restrictions apply.

• 5

  Accept the business credit card that is unique to your company's financial needs. Not all credit cards carry the same benefits. Accept a purchases card if your company needs to rely on credit during a start-up period, for example, and wants to take advantage of strong monthly bonuses to offset interest costs.

• 6

  Apply for a business credit card online or by phone. Once you are approved, accept your card offer by contacting the toll-free number printed on the back or front of the card. Accept and activate your business' line of credit through the card's automated system or with a live customer service representative.

• 7

  Ask about your annual percentage rate for purchases, balance transfers and cash withdrawals. Major credit card brands such as MasterCard, Visa, American Express and Discover typically charge varying interest rates for different credit products. As a general rule of thumb, a business with a favorable credit score receives a lower interest rate.