If you’re a small business owner with significant startup costs, the Discover business credit card could be an attractive option. It offers unlimited 1.5% cash back on purchases, and Discover will match all your rewards earned during the first year of account membership.
It also doesn’t charge you a late payment fee the first time you miss a payment. This is a welcome change from many cards that charge you a penalty APR for missed payments.
1.5% Cash Back
If you’re looking for a straightforward rewards program that offers flat-rate cash back on every purchase, the Discover business credit card may be your best option. This card earns 1.5% cash back on all eligible purchases, and unlike many other cards in this category, there’s no requirement to track bonus categories.
One of the card’s best features is a 12-month unlimited cash-back match that turns this card into an excellent cash-back machine. During that time, you can double the money you’re earning on large purchases thanks to the card’s Cashback Match feature.
This perk doesn’t come with a sign-up bonus like some other credit cards offer, but it could prove lucrative for business owners who are planning to make a large spending haul in their first year with the card. The card also offers a 0% intro APR on purchases for the first 12 months of account membership, which can help you save money if you’re planning to buy something big in the near future.
1.0% Intro APR For 12 Months
WalletHub’s Take: The 0% intro APR for 12 months offered by discover business credit card is a great option for small business owners who want to avoid interest on purchases or balance transfers for an extended period of time. It’s a strong choice for small-business owners who need to finance big purchases or make large cash-flow improvements in the short term, and the card is also an excellent rewards choice.
This card also offers a welcome bonus that can earn you a high amount of cashback in the first year. It’s also one of the best cards for business owners who need to pay down debt because it offers a low-interest rate and no annual fee.
But the biggest draw of this credit card is that it doesn’t impose a penalty APR for missed payments. This could be especially helpful for business owners who occasionally forget to make their payments or experience cash-flow crunches that cause them to miss a payment.
Another benefit of this card is that it reports your account information to the three major business credit bureaus, which can help you build business credit. However, you should keep in mind that late payments and delinquencies can negatively impact your business’s credit. You should aim to pay your balance off in full each month or by the time an introductory APR expires.
12.0% Cash Back Match For The First Year
The 12.0% cash back match offer offered by discover business credit card is a great way to maximize your rewards during the first year. It’s a much better value than the traditional sign-up bonus and will help you turn your cash back into valuable account credits or gift cards.
The Cashback Match offer can be a game-changer for new card members who have large monthly purchases and want to maximize their cash-back rewards in the first year of card ownership. However, you need to be careful about activating quarterly categories and tracking spending to extract maximum value.
Discover’s quarterly rotating merchant category scheme is a complex system, and it’s important to activate the new categories each quarter so you’ll earn the maximum cashback possible. You also need to plan your purchases and pay your bill on time to ensure that you don’t incur any late fees or interest charges.
A great place to start is with the cash back on gas and restaurants. These categories rotate every quarter and you need to activate the current category to earn 2% back on eligible gas station and restaurant purchases.
1.0% Foreign Transaction Fee
The Discover business card is a solid choice for your small business. It boasts an impressive suite of features and offers a well-earned cash back reward with a decent signup bonus. The best part is that you won’t pay an annual fee and there are no foreign transaction fees to speak of. Despite this, you should still shop around for the best deal. If you can manage your money well, you can save a bundle by paying your bills in full and on time. This is the best way to build your credit score and avoid costly late fees down the road.
The good news is that there are several credit cards out there that can help you manage your company’s cash flow and budget with minimal fuss. The best business cards are all about maximizing your small business’s spending power by offering the most lucrative rewards and minimizing the amount of money you have to spend in order to earn them.
It’s also important to consider your needs before applying for a credit card, especially if you are new to business finances or have limited experience managing a commercial bank account.
1.0% Balance Transfer Fee
If you have existing credit card debt, a balance transfer can be an efficient way to pay off your balances and save money. However, you should be aware that many 0% interest balance transfer offers come with a fee.
A balance transfer fee is charged by the new card issuer on each transferred balance, typically between 3% and 5%. While it may not seem like much, this fee can add up over time and could wipe out any potential savings you’d enjoy from moving your debt to a 0% card.
In order to avoid this fee, it is important to shop around and compare your options before making a decision. This will help you get the best balance transfer deal and ensure that you’re paying off your debt as quickly as possible.
You can request a balance transfer through Discover’s website or phone. You must have an open account for at least 14 days before your balance transfer can be processed.
While a balance transfer can help you consolidate your debt, it’s crucial to make on-time payments in order to keep your credit rating high. This will also help you avoid late fees.
If you have an outstanding balance on one of your business credit cards, transferring it to a new card can be an excellent solution. However, be sure to consider your transfer fee and introductory APR offer before deciding on which card to apply for.
1.0% Annual Fee
Discover offers a wide array of financial products including savings accounts, checking accounts, money market accounts, certificates of deposit, personal loans, home equity loans, and mortgage refinancing. It also provides free business credit cards, business banking tools, and identity protection services.
The Discover it Business card is a solid choice for small business owners who want a straightforward cash-back credit card with no annual fee. It also doesn’t charge a penalty APR when you miss a payment, which is a big deal if you frequently forget to pay your bills or run into cash-flow problems.
This card also comes with a 12-month 0% intro APR on purchases, which is an excellent way to consolidate debt from other credit cards or avoid high-interest rates. However, after the introductory period ends, you’ll begin paying a variable APR that may vary depending on your creditworthiness.
Finally, the Discover it Business card is a good option for travelers as it doesn’t have foreign transaction fees and can be used in more than 48 million merchant locations worldwide. It also offers an automatic, unlimited cash-back match for the first year of account opening, which can be a significant benefit.
The Discover it Business card can be a good choice for small businesses looking to build credit, as it reports business credit card activity to the three major business credit bureaus. If you use the card responsibly and keep your balance low, Discover can help you build business credit and a higher FICO score.