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Business, small or big are increasingly depending on business credit card for various financial activities related to the business. The ease, manageability and savings they bring to any organization makes them indispensable. Getting the right business credit card for your small business is not a big task if you keep these three things in mind.

1. How will you use it?

Are you going for rewards associated with the business credit card, or want discounts offered on business supplies. Do you fly frequently, and want to get deals on hotel stay and airmiles? Business credit card come with a variety of options. If you have your priorities clear it will greatly help you get the right business credit card.

2. What are the interest rates and other fees?

A 0% Intro APR Business credit card with low interest rates on balance transfers, purchases etc. would be a good credit card to start with. Check out the APR, Annual fees, cash withdrawal fees, late payment penalties, minimum monthly payment requirements, balance transfer fees and whether the credit can be revolved or not. Compare different credit cards which offer the features you want and settle for the one that costs the minimum. If you want a business credit card that can be given to the whole organization or your employees make sure that the credit card has this feature and doesn’t charge you much on taking additional cards. Taking these points into consideration will ensure that you pay the least amount to the credit card company.

3. What are the restrictions and other fine prints?

The rewards might be very attractive but credit card companies apply restrictions such as blackout dates, limits on reward points that can be earned during a year, expiry of reward options after a certain period etc. These restrictions can kill the reward benefits. Stay clear from credit cards which apply restrictions. Also, written in fine prints are terms that if ignored could cost a lot in terms of money and mental peace. It is particularly advised to read them carefully and understand their implications on credit card ownership. If you have any doubt get it cleared by all means.

Business credit cards are especially designed for business purposes and must be used as such. Using a business credit card for personal expenses might hurt in the long run and violates the basic principle of separating the business and personal finance. If the right card is selected and used properly the business credit card can be a vital asset for your small business success.

Getting approved for a credit card can be difficult without a positive credit history working in your favor. It’s a Catch-22: To obtain a credit card, you need a good credit history. But to have a good credit history, you need to establish good credit!

This no-win cycle can keep people with a non-existent, limited or negative credit history from getting approved for a credit card. But it doesn’t have to if you understand the type of credit cards available and how to build a good credit history.

When it comes to credit cards, the type of card you apply for will depend on your situation. If you’re a student, you’ll, naturally, sign up for a student card. But if you’re a non-student with a non-existent or bad credit history, a card that is secured or obtained with a co-signer may be your best option. With co-signed credit cards, the co-signer guarantees and is responsible for the debt. This means that the co-signing person is responsible for paying the full amount of the debt if the card holder doesn’t pay. In fact, when co-signed debt goes into default, three out of four times co-signers are normally asked to repay what is owed, according to the Federal Trade Commission.

Furthermore, the issuing bank can attempt to settle the debt without first trying to collect from the card holder. The bank can also use the same collection methods against the co-signing individual, including suing and garnishing wages. If the debt is not paid, it can leave a negative mark on the credit history of the co-signer, as well as the card holder.

Despite the risks, a co-signed credit card can be great tool for helping a friend or relative build their credit history so they can one day obtain a card on their own. Secured, co-signed and pre-paid credit cards offer viable options. But you should start building a strong credit history, so you can obtain a regular credit card on your own in the future.

First, you need to understand how credit card issuers determine credit worthiness. The approval criteria varies from among issuing banks, but generally relates to what’s often called the three C’s of credit: capacity, character and collateral. Capacity refers to your ability to pay based on your income and existing debt. Collateral refers to any assets you have that can secure payment, such as bank accounts or home ownership. Character refers to factors like your payment history, length of employment, etc.

To get a good idea about how your application will fare with credit card companies, check your credit history with one of the major credit reporting agencies: Experian (www.experian.com), Equifax (www.equifax.com) and TransUnion (www.tuc.com). These agencies access your payment information directly from the companies you have credit with, as well as from government agencies such as the legal court system.

Credit reporting agencies use the information in your credit history to determine your credit rating or credit score. Credit scores, also known as FICA or Beacon scores depending on the CRA, generally range from 350 to 850. Most banks will approve you for credit if your score is at least 620. If your rating is 720 or higher, banks will offer you their lowest interest rate.

Generally, y our credit score is determined by your payment history for the last two years. T echnically, CRAs calculate your score using a closely-guarded formula. TransUnion, for example, determines credit scores using a variety of factors, including: how you pay your accounts, how much you owe and how often you’ve applied for credit.

The Minnesota Vikings official team logo is now being proudly displayed on the NFL Extra Points™ Platinum Plus® Visa® Credit Card from Bank of America.  (www.vikingscreditcard.com).   This rewards credit card has proven to be a touchdown with fans across the country and has made huge strides in the rewards credit card industry.  Like many retailers, universities and airlines have done for decades, NFL football teams, in association with Bank of America, now offer credit card consumers valuable rewards above and beyond the cool factor of having their favorite team printed on their credit cards.  These football-oriented credit cards are scoring big with sports fans in every state.

The NFL Extra Points™ Platinum Plus® Visa®™ Credit Card from Bank of America has important features, which include:

•           No Annual Fee.

•           0% Introductory Annual Percentage Rate (APR) on balance transfers and cash advance checks for your first 12 billing cycles.

•           A $50 NFLshop.com gift card after your first qualifying transaction(s) using your NFL Extra Points™ Visa® Credit Card.

•           100% fraud protection

•           Earn 1 Point for every dollar you spend in net retail purchases. Points are redeemable for NFL merchandise, tickets, and VIP passes to NFL experiences.

•           Online account access and Points management.

At a time when consumers are nervous about the uncertainty in the stock market, illiquidity in the credit market and the softening real estate market, one thing remains constant – sports fans love NFL football.  Historically, football has given its fans something to believe in and something to hope for, particularly during difficult economic times.   With the NFL Extra Points™ Platinum Plus® Visa®™ credit card, Vikings fans can be reminded of their favorite team every time they open their wallets.  Real fans carry the card with pride.  Visit www.vikingscreditcard.com to complete the credit card application online in just a few short minutes.