Burst Biz

7 min read

Navigating the World of Small Business Credit Cards for 2023

Navigating the World of Small Business Credit Cards for 2023
Navigate the world of small business credit cards with ease. Discover the benefits, risks, types, fees, and how to build credit with our expert guide.

Small business credit cards can be powerful financial tools for entrepreneurs and small business owners. However, with so many options available, it can be difficult to know which card is right for your business. That’s where navigating the world of small business credit cards comes in. By understanding the benefits and risks of small business credit cards, as well as the different types of cards and the factors to consider when choosing one, you can make informed decisions about your business’s finances. In this blog post, we’ll explore everything you need to know about small business credit cards, from the basics to advanced strategies for maximizing your rewards and managing your expenses. Whether you’re a new business owner or a seasoned entrepreneur, this guide will help you navigate the world of small business credit cards with confidence.


Understanding the Types of Small Business Credit Cards Available

When it comes to small business credit cards, there are a variety of different types to choose from. Each type of card offers its own set of features, rewards, and benefits, so it’s important to understand the differences between them in order to choose the best option for your business.

  1. Cash back cards: These cards offer cash back rewards for purchases made with the card. The rewards can usually be redeemed as a statement credit, a check, or a deposit into your bank account.
  2. Travel rewards cards: These cards offer rewards such as airline miles, hotel points, or other travel-related perks. These rewards can be particularly valuable if you or your employees travel frequently for business.
  3. Points cards: These cards offer rewards in the form of points, which can be redeemed for a variety of different things such as merchandise, gift cards, or travel.
  4. Charge cards: Unlike traditional credit cards, charge cards require you to pay your balance in full each month. They often come with higher credit limits and more rewards than credit cards, but can also be more difficult to qualify for.
  5. Secured cards: These cards require a security deposit, which serves as collateral in case you can’t pay your bill. They can be a good option for businesses with poor credit histories.
  6. Low interest cards: These cards offer lower interest rates than other types of credit cards, which can be helpful if you need to carry a balance from month to month.

That’s why here at Burst Biz, Every subscription works towards building your business credit. Our subscriptions guarantee that every transaction will be reported to credit reporting agencies. Browse our subscriptions and set your business up for success!


Factors to Consider When Choosing a Small Business Credit Cards

Choosing the right small business credit card can have a significant impact on your business’s finances. Here are some important factors to consider when selecting a card:

  • Rewards: Look for a card that offers rewards that align with your business’s spending habits and goals.
  • Fees: Pay attention to fees such as annual fees, foreign transaction fees, and late payment fees. These can add up and eat into any rewards you earn.
  • Credit limit: Make sure the card’s credit limit is sufficient for your business’s needs, but also consider the impact on your credit score if you use a high percentage of your available credit.
  • Interest rates: If you plan to carry a balance, look for a card with a low interest rate.
  • Credit score requirements: Different cards have different credit score requirements, so make sure you apply for a card that you’re likely to be approved for.
  • Customer support: Consider the level of customer support offered by the card issuer, especially if you plan to use the card frequently.

How to Build Credit with a Small Business Credit Cards?


Burst Biz is here to help you discover what your business can do. We eliminate the problems that hold small businesses back. Explore our products and solutions to help you build your business – starting right now!

Business Subscription  provides monthly reporting and continued building of your business credit. We continue to report, and your business continues to grow. The Business Subscription also allows for monthly reviews of your credit limit and possible credit limit increases. All done automatically.
  • Higher online visibility of your business
  • Building your business credit every single month

Business Plan

  • A professional 5 page business plan to get your company moving in the right direction
  • A plan you can build from
  • A plan to get you started


Common Fees and Charges Associated with Small Business Credit Cards

When choosing a small business credit card, it’s important to be aware of the fees and charges that may apply.

Annual fee: Some small business credit cards charge an annual fee for the privilege of using the card.

Late payment fee: If you miss a payment deadline, you may be charged a late payment fee.

Cash advance fee: If you use your credit card to withdraw cash, you may be charged a cash advance fee.

Foreign transaction fee: If you use your credit card outside of your home country, you may be charged a foreign transaction fee.

Balance transfer fee: If you transfer a balance from another credit card to your small business credit card, you may be charged a balance transfer fee.

Over limit fee: If you exceed your credit limit, you may be charged an over limit fee.

Explore the Burst Biz website, and If you have further questions, please get in touch with us or visit our FAQ page. Start building your business!

Need help building business credit?

Join more than 3,043 successful business owners and subscribe to our newsletter. You’ll get free tips and hacks on building your business credit every 2 weeks.