Finance Credit Cards

How To Get a Company Credit Card For a New Business

Published at 03/13/2012 20:28:43


No matter the size of a new business, it is a good idea to get a company credit card. A company credit card allows the owner to keep personal and business expenses separately. In addition a company credit card will allow the business owner to allow those who need access to have their own company credit card. You would not want to do this with your personal credit card. A company credit card also makes book keeping an easier process and allows you to keep track of purchases.

Step 1

  • Determine how many employees will need a company credit card. You will of course want one yourself and then you may want to allow certain employees to have them as well. Perhaps those who are responsible for buying supplies or those who travel and will need a company credit card for gas and hotel payments, as well as for entertaining clients if that is part of your business.  For employees who handle entertaining, a Diner's club card is a good choice.

Step 2

  • Determine how much credit your company credit card will have to have. Be sure that this is an amount that your business is realistically going to be able to pay. A good way to determine the amount to apply for is by thinking about how much you will likely be charging on the card each month.

Step 3

  • Look for features that are important to you and your company. These features may include a low interest rate, no annual fee, or an inexpensive annual fee. Many cards offer bonus features to attract customers. Consider the features available and choose which are more important to you.

Step 4

  • Call, stop in or visit online the bank or company of your choice that offer company credit cards. Ask to have an application, you can pick this up in person, ask for it to be mailed to you or find it online. Applying online is often the easiest and quickest option.

Step 5

  • Fill out the application. You will need your personal information, including name, address, social security number and and also information about your business. When applying for your company credit card be sure to note how many cards are needed. The process for approval is not very long, you will usually have an answer within a week or two. 


It is a good idea to apply for a company credit card with the banking institution that your company normally does business with.

Use care when allowing employees to use company credit cards. Be sure that those you choose are trustworthy. Remember that your company and therefore you, will be responsible for the charges.

Keep receipts for all purchases made with your company credit cards.

Be sure that you are able to pay the charges made on the business card. Keep in mind that some business credit cards such as American Express may require the entire balance to be paid each month.

The three biggest company credit cards are Visa, Master Card and American Express.

Sources and Citations



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