If you have a business, but you don’t have a business credit card, why not? A company card is almost essential these days. You just have to decide which card best fits your business needs. Here are a few things to consider before applying for a card:

When you apply for a business credit card, chances are, your personal credit history gets pulled by the card issuer. What better way for a card issuer to determine a prospective client’s financial skills than to pull a personal credit report? If your personal credit report is spotty, if you filed for bankruptcy protection, or if you carry a lot of credit card debt, that’s likely to get picked up on the card issuer’s radar, so before applying for a company card, clean up your personal credit.

Don’t choose a card because you receive some kind of sign-up bonus. The credit industry is highly competitive, and card issuers want your business. They want to build a relationship with your business, and one way to do that is to add a company card to your growing list of bank services.

Shop around to find the credit card that best fits the way your business does business. If your company doesn’t do a lot of travelling, why get sky miles with every purchase? Maybe a cash-back reward would benefit the business more. Balance the short-term benefit of a sign-up bonus with the long-term cost of the card.

Cards help you track your spending. A business credit card enables you to track company spending by those entrusted with company cards. Some card issuers actually break out monthly spending for you so you can see, at a glance, what the business spent on travel and entertainment, office supplies, services like the office cleaning crew, and other legitimate expenses that can be deducted from the company’s bottom line at tax time.

Look for a card that delivers useful data about where the money went in the past 30 days. This data can help you crunch the numbers at tax time and take the deductions to which you’re entitled. You’ll have the paperwork to back up all deductions, thanks to your company credit card issuer.

Ask to see a sample credit card statement before signing up. Using a company credit card is a great way to collect and collate spending data – if you can extract that data from the monthly statement. Look for a statement that’s simple to read and understand, and actually helpful in improving existing business operations. Look for a card that adapts to your company’s needs, not the other way around.

Watch the interest rate. You may plan to pay company credit cards in full each month, but an unexpected bump in your financial road may make it necessary to carry a balance forward until you recover. In that case, the interest rate charged on your unpaid balance can make a big difference to your bottom line. Make sure you know what your rate will be.

Read the fine print. If you sign up for a card with a special introductory rate, make sure you know when that rate will expire, and what the new rate will be. Will there be an annual fee? Will you be charged for having multiple cards for employees? What is the fee structure if you are late on a payment?

Choosing the right card requires an understanding of how the card will be used. Not sure which card is right for your business? Talk to a Nevada State Bank business professional to help you choose a card* that delivers more than convenience.

Look for flexibility when choosing the right card. When applying for a business card, ask the card issuer questions – lots of them. You want to be able to secure more credit when an opportunity presents itself. A flexible, understanding card issuer is an asset you can draw on as needed. Nevada State Bank is willing to work with you and your business – we’re a bank that understands the importance of credit to a growing company.

Whether you sell products or services, within a small service area or globally, a business credit card can save time, can offer cash flow options, and help with company record-keeping.

Call Nevada State Bank today. We’ll help you pick the right card for the way your company does business.

*Nevada State Bank credit cards subject to approval. Terms, conditions and restrictions apply. Please see banker for details.

The information provided is presented for general informational purposes only and does not constitute tax, legal or business advice.