The best high limit business credit cards are the Ink Business Preferred® Credit Card, the Ink Business Cash® Credit Card and Capital One® Spark® Cash for Business. They offer minimum credit limits of $2,000 - $5,000, but allow some users to start with higher limits based on their credit, income and debt.
Switching from a personal credit card to a business card can be an intimidating process, but U.S. Bank has made it easy—and rewarding—to take the plunge. With an easy online application and several distinct card programs, it's hard to see how you can go wrong with any of the cards in their family.
The U.S. Bank Visa® Platinum Card is the best credit card for 0% purchases and balance transfers right now. It offers 0% for 20 months on new purchases and 0% for 20 months on balance transfers, with a balance transfer fee of 3% (min $5). The U.S. Bank Visa Platinum Card also has a $0 annual fee.
Does U.S. Bank automatically increase your credit limit? U.S. Bank and other providers may review your account after six months and automatically increase your credit limit. If you don't receive an automatic increase, you can request a credit limit increase online or by phone.
Most companies check your credit reports and gross annual income level to determine your credit limit. Factors that issuers like to consider include your repayment history, the length of your credit history and the number of credit accounts on your report.
If references are good enough, the Credit Limit = twice the monthly sales figure for that customer. 2 A maximum amount you are prepared to be owed, regardless of current sales levels. A popular calculation is the lower of 10% Net Worth or 20% Working Capital (Net Current Assets).
You need to have excellent credit (i.e. a credit score of at least 750) to get the U.S. Bank Business Platinum credit card.
U.S. Bank: Does not report business credit card activity to the consumer credit bureaus.
The best U.S. Bank credit cards require a 750 credit score or higher for good approval odds. And U.S. Bank's co-branded credit cards require good credit, or a credit score of at least 700.
For personal credit scores, the ratings range from 300 to 850, with most lenders requiring a minimum score of at least 600 for a personal loan. Business credit scores range from zero to 100 and most small business lending companies require a minimum business credit score of 75.
Eight steps to establishing your business credit
There are several easy approval business credit cards. That's because the easiest business credit cards to get only require fair or bad credit. They include Capital One Spark Classic for Business, the Staples Business Credit Card, and the Wells Fargo Business Secured Credit Card.
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