I am self employed and would like to have a credit card on hand for business purchases. right now I use my "regular" credit card.
I'd get the card that will pay you the most cash back (or other reward) for your expected business spending. For example the Capital One Venture for Business card basically earns you 2% in travel rewards on all your spending. Or the Ink Cash(SM) Business - $100 Bonus Cash back card will earn you 3% cash back on all your spending at restaurants, home improvement stores, and office supply stores; and 1% everywhere else.
You might want to try this credit card rewards calculator to see which card will pay you the most for your business's expected spending profile:
http://www.creditcardtuneup.com/?card_ty…
That calculator will also try to find the best combinations of cards if you're interested in maximizing your rewards with two cards or three cards.
Gen,
Congratulations on being self-employed. It's hard work, but worth it.
In answer to your question, most companies that claim to provide a "business" credit card will base it entirely on your personal credit profile. But Wells Fargo is generally friendly to small businesses, as is Wachovia. Stay away from Capital One and Citibank if possible.
What you really want to do is avoid using your personal credit for your business as soon as you can. your personal individual credit should be used for your personal, individual things -- like your home, car, your kid's braces. NOT your business.
What you need is the information on how to establish credit in the name and EIN of your business. It's a process and if you do it correctly, step-by-step, then in 6 to 12 months, you can have access to thousands of dollars in business credit lines.
I have a new ebook on the subject: Money in the Bank: a Step-by-Step Guide to Establishing Business Credit, available on my website, SuccessPointConsulting.com
I have been helping small business owners for 11 years now, and believe me, if you can get your business credit profile in shape, you'll never have to worry about money.
Good luck to you.
1. Visa
2. Marster card
3. JCB
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