How to Get a Business Credit Card (And Get Better Loans)
Categories: Blog Posts
Using a business credit card changes your RE career. Here’s how to get one.
Real estate investors should think of their investment projects as a business. And a huge step in propelling your business forward is to get a business credit card.
A card for your business can solve some major credit-related problems. Here’s what you need to get one.
What You Need to Get a Business Credit Card
There are three main things you need before you can get a good credit card with an easy process. You need good credit, a business, and a generic business name:
- Good personal credit. The higher your score, the better your options are for card terms.
- A business. (A sole proprietorship counts). The longer you’ve been in business, the better. But bare minimum, it will need to be a couple months old and have a bank account.
- A generic name. Additionally, the process will be smoother if the business’s name doesn’t sound like a real estate or lending company.
How to Get One
Do you have the credit, the business, and the right name? If so, then getting a business credit card for real estate is easy.
Go to a site like bankrate.com or Credit Karma to pick the card that’s best for you. You can also visit Nav’s list of business cards to compare different types. Fund & Grow also has some great options you could look into.
If you keep balances, then you may want to look at cards with 0% intro rates. You can change them out every year and save a lot of money.
Once you stop putting your projects’ expenses on your personal card, your credit will be more free for investment opportunities.
Need Help Setting Up a Business Card?
Not sure how to set up a business? Don’t have the right credit to open a card? Reach out to us – we have solutions to fix this quickly.
And lastly, you can also check out Fund & Grow. Ask us about the discounts they gave us to pass on to you!