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Never Trust These 3 Myths When You Want To Grab Any Business Credit Card

January 6th, 2008 by Shenron

When you want to apply for any business credit card, usually you’ll get stumbled to some websites that claims you could get anything you want in your business credit card if you apply it in their website.

They promise you many thing, such as 0% APR, a high limit business credit card, no fees, etc. Is it true? Well, some of them probably true, for example a 0% APR. It’s true. But, it’s only on a promotional period. After the promotional period ends, you should prepare yourself to see the highest APR ever that appears in your business credit card report.

To find out the truth, why don’t you explore it in this article? This article will show you three myths that usually lying around the business credit card area.

1. You don’t need a personal credit to apply for any business credit card
It’s absolutely wrong! The business credit card issuer will need your personal credit report in order to get a business credit card. It’s simply because you’re the person who will be responsible for any transactions that being made by your business credit card. If you don’t have any personal credit, how come the business credit card issuers trust you to holding the card?

2. You don’t need a good personal credit to get a high credit limit
Wrong again. Your personal credit will determine your business credit card limit. The business credit card issuer will see your credit background first before they can hand you the business credit card with a high credit limit. If you always pay your personal credit card or any credit that been given by the bank on time, it won’t be hard for you to get a higher credit limit.

3. You could get a credit limit as high as possible
Well, in short, it’s impossible. Even if you have a good personal credit background, the highest credit limits usually around $10,000. But, if you’re the owner of a well known business such as Microsoft or Sony, you could easily get a hundred thousands dollars.

These three myths are the most common issues that being heard by someone who want to apply for any business credit card. As you dig deeper when you want to find any information’s related to the business credit card before you apply one, you’ll find a lot more myths that appear. Don’t distract by all of that stuff. If you want to know the truth, why don’t you contact your business credit card issuer?

Posted in Credit Cards | | 0 Comments

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