Business Credit Card: Compare Which Is Best
With this in mind, we’ve put together this publication with everything you need to do to choose the best business credit card, which includes guidance on the main criteria to take into account, how to issue them correctly, understanding the different types that exist and their main advantages.
What is a business credit card?
A PJ (Legal Entity) credit card is a credit card intended for companies and individual entrepreneurs, with exclusive advantages and benefits to meet their business needs.
What criteria should I take into account to get the best business credit card?
There are a wide variety of business credit card options to consider, so it’s important to take a few criteria into account. Let’s go:
Fees and charges
For both personal and corporate credit cards, fees and charges are factors to be analyzed, such as annual fees, membership fees, cash withdrawal fees, interest rates for installments, among others.
Therefore, make a careful assessment of whether the rates are aligned not only with the needs of your business, but above all with the services offered by the card and the value of the benefits.
Credit limite
Entrepreneurs should consider the credit limit as one of the factors when choosing the best business credit card because they deal with different challenges on a daily basis, such as financial planning, cash flow, business negotiations, among many others.
So make sure that the business card you choose has a credit limit that is sufficient to meet your company’s financial needs, taking into account regular expenses, investments and possible emergencies.
Eligibility
Just as important as checking the credit limit and fees is checking that all the requirements for obtaining the card, such as the necessary documentation, minimum turnover, length of time the company has existed, among other criteria, are up to date.
Business services and support
It’s true that nobody likes unforeseen events, but they do happen and there’s no getting away from it. Therefore, try to consider the additional services offered by your business credit card issuer, such as support for business emergencies, specialized customer service for companies, personalized payment solutions, among others.
Rewards and benefits programs
In addition to meeting the natural expectations offered by a business credit card, rewards and benefits programs are attractive features that can make a difference when choosing one.
Cashback, accumulation of points or miles, discounts on business services, travel insurance, among others, are all conveniences that can be adapted to your company’s needs.
Reputation of the financial institution
Last but not least, do some careful research into the credibility, services provided, market experience and customer satisfaction of the financial institution issuing the card.
What are the benefits of a business credit card?
By now you know the definition of a business credit card and the main factors that must be taken into account. But what are the benefits of a business credit card?
1.Ease of doing business
There’s no point in choosing the best business credit card if you don’t want to make business more practical and agile. In this sense, using a business credit card can simplify commercial transactions, making it easier and safer to make payments to suppliers and business partners.
It’s also worth noting that many cards offer the option of additional cards for authorized employees, allowing staff to access the financial resources they need for company-related expenses.
2.Expense control
Another advantage of business credit cards is related to financial responsibility. Since, in general, PJ credit cards are linked to the company and not to the individual owner, this means that the financial responsibility for paying bills and using the card properly lies with the company and not with the individual themselves.
In this way, business credit cards allow you to easily monitor and control your company’s expenses. The best business credit card, therefore, consists of providing detailed expense reports, categorizing expenses by type, facilitating financial management and account reconciliation.
3.More security
The volume of purchases for those wishing to have a business credit card can be high. So, to be on the safe side, choose a financial institution where credit card purchases are recorded, so that you can see in the application that the purchase was made at the exact minute the payment was made.
Financial institutions offering corporate credit cards
Speaking of financial institutions, below we’ve listed some well-known ones that offer business credit cards, each with its own advantages and features.
- Bank of Brazil
- Itaú
- Bradesco
- Santander
- Federal Savings Bank
- Inter Bank
- Nubank
- C6 Bank
- Sicoob
- PagBank
These options above offer a variety of business credit cards with different benefits, rates and credit limits. To make an assertive choice, we recommend researching the options offered by each institution, comparing rates, rewards programs, additional services and the specific conditions of each card.
Remember that choosing the best financial institution will depend on your company’s needs and preferences. It is important to take into account the reputation and experience of these institutions in the market, highlighting their main features and differentials.