New Business Credit Cards

There’s one image of your childhood you can’t erase from your mind. At the end of every weekday, your dad follows the same coming-home-from-the-office routine. He walks through the door, drops his briefcase heavily to the floor, and trudges to the living room, grunting at anyone who has the audacity to greet him. This ritual always baffled you, but over time, you realized that you must never work for someone who could turn a kind, loving person like your dad into the Grinch.

So, because life as a humble salaried employee doesn’t appeal to you, you hatch the brilliant idea of owning your own business. Starting up your own company, however, required more work than you had imagined. The hours are long, the stress is unbelievable. Still, you persevere, and after some time, you turn a profit. You remember the image of your father at the end of the workday, and in a spurt of generosity, you reward your staff with new business credit cards.

Small Cards for Small Businesses
Small business starter credit cards are becoming chic due to the recent number of home and small businesses skyrocketing. Depending on how your company functions, you can avail of several new low-interest business credit cards for your workers, from companies such as Advanta, Chase, and Open.

Business Benefits
Each of the cards offers benefits that meet the needs of various types of employees. For example, several of the new business credit cards, such as the Advanta Platinum Business Custom Card, the Gold Delta SkyMiles Business Credit Card, and the Blue Cash for Business Credit Card boast of a 0% Introductory APR, with introductory periods ranging from 6 months to an incredible 15 months! Also, the regular APR of the new business credit cards is quite low, ranging from about 8% to 20%. Some of the cards collect no Annual Fees from their cardholders, offering a nice holiday bonus to people on your payroll. Some charge an Annual Fee while others charge an annual fee only after the first year. Credit cards that fall into the latter category include the Business Gold Rewards Card and the Business Green Rewards Card from American Express’s OPEN program.

Custom Cards
While these cards have different perks, your employees have different responsibilities, and the new business credit cards can cater to them. American Express’s JetBlue Business Credit Card is perfect for salesmen who spend more time out of the office than in it, or inspectors who must assess out-of-town operations. Use this card to get an exclusive 5% discount on JetBlue flights. Also, the card provides protection for your trips, which include Baggage Insurance, Damage Insurance, and Car Rental Loss.

For your employees who make purchases for your company, the American Express SimplyCash Business Card is the perfect plastic. This new business credit card offers cash back on office supplies, wireless services, and gas. For nearly all other purchases, they can earn 1% cash back.

Lastly, to reward your employees for all the time and effort they put in day in and out, consider the Advanta Platinum Business Card. This card can be personalized by including your company name at the card’s top. Create a sense of unity and cooperation by providing this card for your employees. This new business credit card also features a maximum credit line of $50,000, and $0 Fraud Liability.

Discover the power of plastic! Visit our site today and discover how to apply for secured credit cards, new business credit cards, or best balance transfer credit cards.

This entry was posted on Friday, June 15th, 2007 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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How Credit Scores Affect Mortgage Applications

With a good credit score an applicant will receive prompt response from many lenders, all of them offering low interest rates and low down payment options. The loan amount offered also may be high. On the contrary a low credit score would result in a lot of rejection from various mortgage financers. Because creditors wouldn’t come forward easily to give credit to individuals that have a history of difficulty in repaying existing loans. After all, creditors take risk when they finance mortgages against the credit history of a debtor. Naturally, they will wish to remain on the safe side and pick up less risky ones that have good credit histories. A good credit score means less chance of missing on payments and therefore less risky.

But there are some real risk takers that will come forward to finance mortgages for individuals with bad credit scores. They would charge high down payments and always high interest rates though. They may also fix additional charges for every little paper work and may charge high closing rates. The loan amount offered will also be considerably less. The individual with poor credit scores will not have much choice but to accept the terms and conditions as there are no other alternatives. This is a tight situation and to avoid this you must have a good credit score.

People with bad credit may fall in to the trap of ’secured loans’. Secured loans are the ones where the loan applicant offers an asset as collateral security. The lender becomes secure about the repayment of the loan and not the borrower. Securing a loan with bad credit score becomes easy only when the applicant is willing to offer some asset as collateral security. This again is a very dangerous situation where an individual runs the risk of losing his entire collateral asset in case of failing to pay the loan installments in time. An individual should always avoid such type of a loan.

Resort properties normally require large amounts of finance which a person with bad credit may find it difficult to obtain. So it is always advisable to keep your credit score high. Incase the credit score becomes low due to unavoidable financial reasons it can be improved upon. There is no need to lose hope simply because a person has a low credit score. If the property that he intends to buy has good equity he should go out and try to obtain finances for it. There are many sub prime lenders willing to offer their services.

For a review of your credit report as it relates to a mortgage loan and a consultation on the best loans available to you, give us a confidential, no obligation and no cost call.