Best Credit Card For Small Business Startup – As a startup, you would have raised a lot of money and have a pile of cash in your bank account But with all business credit cards for startups you will find the following issues:
Understanding how to get a business credit card for a startup can be complex But there are business credit cards designed specifically for startups In this post, we will show you:
Best Credit Card For Small Business Startup
Jeeves is a startup credit card designed by founders for founders. We designed a business credit card specifically for startups and now serve over 4,000 customers in 25+ countries. Here’s why Zives is one of the best credit cards for international startups:
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While other business card suppliers take a long time, with us you’ll get a response within 24 hours, which makes our company cards faster.
The registration process takes 5 minutes, as we only require proof that you are financially sound and able to repay the loan. We do not need to see a long credit history or require a personal guarantee We can approve your card within days and charge no annual fees, interest or international transaction fees.
You may have remote employees or pay some bills in different currencies This can make forecasting difficult, and you are exposed to currency heading fees and exchange rate risk
At Jeeves, we can help you build a global company at low cost because you can:
Stop Using Your Personal Credit Card For Business
Managing business expenses is difficult with a business debit card or prepaid card You have to add money yourself, you have to make sure you have enough and maybe you have some left over by the end of the month.
A credit card solves this problem because you are using someone else’s money Then you just have to pay the balance
With Jeeves, you get free credit access and a 30-day credit window. Pay early and your loan will automatically renew
With Jeeves, you also get more expense management tools You can create unlimited free physical or virtual business credit cards with one click on Jive’s central expense management platform.
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In seconds, you can issue credit cards to employees through the Jive Dashboard (available on both desktop and app) to manage and track employee spending in real-time and avoid long-term chargebacks.
Each cardholder will have their own unique access and dashboard where they can track and organize their spending data. Employees can download and add receipts to their transactions with one click, both on the go and through the website via the Jive app.
With Jeeves free expense management software linked to your card, you’ll always have up-to-date expense information at the click of a mouse to manage all your travel expenses, avoid overspending and stay on top of all your recurring expenses.
Jeeves is the best cashback business credit card with added rewards to boost your cash flow and margins. You can earn up to 2% cash back on all purchases made by all your cardholders within the first 90 days of using Jive. Jive Cashback means cash that is automatically added to your credit balance.
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You can save up to $100,000 with Jeeves benefits For example, get up to $5,000 in AWS Credit, $1,000 on any team plan on Notice, and 30% off your first year on HubSpot (and 15% off subsequent years).
We are currently going through a tough time for startups You need a financial partner who can help you with all kinds of finances
We’ve created Jeeves Capital, fast digital funding, to help you grow your business without the risk of liquidation, loss of ownership or hidden fees.
With Jive Growth Capital you can get funding for 12 months depending on your income. With Jive Working Capital, you’ll have 30, 60 or 90 days of credit to help run your business.
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The Jive Business Credit Card for Startups is great for any new business, but we’re ideal for fast-growing companies and equity-funded startups.
You can use Jive Business credit cards, lines of credit and related expense management software to increase your cash flow, reduce cash burn and expand your startup footprint.
For example, we have HNW Concierge, which uses the Jives credit card in conjunction with our expense management software to distribute its expenses among all its customers worldwide. They arrange and pay for flights, vacations, temporary accommodation and luxury apartment furnishings using Jeeves virtual and physical credit cards.
When our client suddenly needed a quick credit increase to purchase a limited edition designer handbag for one of their customers, they contacted their account manager and requested additional credit. We arranged for a quick increase in credit, which enabled them to meet customer requests
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They then settle the bill, including additional credit at the end of the month when their original credit limit is reset.
However, we understand that Zive is not the only credit card for new businesses, others may be a better fit depending on your business needs. Here are 12 more business credit cards that might be right for your startup in the US, UK and Canada:
Good for: VCs or private equity startups that spend more than $120,000 a year on domestic and international credit card purchases and want to increase their cash flow with unlimited cash back.
Good for: Credit-worthy business owners and entrepreneurs who want to earn cash rewards for everyday purchases and/or big expenses like inventory.
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Good for: The American Express Business Basic card is good for startups where only the founder needs a credit card because you don’t earn points or rewards for purchases.
Good for: The American Express Business Gold Card is good for startups with a lot of employees who travel a lot.
Good for: The Capital On Tap Business Credit Card is perfect for start-up business owners who don’t want to pay foreign exchange fees or fees for transferring money to a business bank account.
Good for: Startups who want to maximize their cash flow by accumulating points with a special welcome offer and spending that can be offset against normal business purchases and travel expenses.
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There are many business payment cards out there, but they don’t have the special features that a startup needs. While most of these can help you build business credit, what you really need to look for in a business credit card for a new business are:
The most important aspect of getting a credit card as a startup is whether you can actually get credit. If lenders require 1-3 years of statements, a high business credit score, personal credit score, personal credit history, and other conditions that you cannot meet, then this credit card is not for you. That’s why it’s important to find a credit card that works with startups
Make sure the credit cycle is at least 30 days and you can get a credit limit that matches your current monthly spending.
You want to make sure you can easily apply online and get a quick response to your application so you can get started right away or try other credit card issuers.
Do You Need A Small Business Credit Card?
When you operate in a fast-paced environment and cash is a precious resource, you need a tool that makes it easy to manage business expenses. The last thing you want is an unexpectedly high bill or an overage at the end of the month
For this reason, you want to choose a payment card with integrated expense management With an expense management tool, you can track each employee’s expenses, set spending limits, and track receipts and transactions. This means you can get rid of paper receipts and go 100% digital
Looking for an expense management platform Read our comparison to find the right one for your startup:
An expense management solution works best when employees have their own business credit cards Giving employees their own business credit card not only allows them to pay for items (and eliminates bottleneck costs like reimbursements), but also helps track spending for all employees, whether they’re on-site, traveling, or working remotely.
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A big advantage of using an employee credit card over a prepaid debit card is that you don’t have to top up each person’s card every month. While you typically top up 10+ prepaid cards individually, with credit cards you only pay one time at the end of your billing cycle.
Ideally, you’ll also want to choose a credit card that allows you to order additional employee cards—enough for all your current employees and your future hires as your company grows. The best business credit card issuers for startups will give you additional cards for free
A unique advantage of credit cards is that they offer great benefits and conveniences over other payment methods such as debit cards and balance transfers.
If you travel a lot, for example, get a credit card that helps you earn Avios and.
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