Everyone loves a good cash back reward. Whether it is personal expenses or business ones, credit cards with cash back always come in handy. For businesses, credit cards with cash back rewards can make a big difference. Each credit card has its own benefits, offers, and rewards along with drawbacks. Choosing the right credit card for your business depends on multiple factors such as the specific needs of your business, minimum purchases that you make, and so on. On the other hand, it is also important to carefully look at the various features and offers of a credit card such as the annual fee, regular APR, bonus rewards, balance transfer fee, cash back rewards offered, foreign transaction fee, and employee card benefits. It might seem like a tricky job, but selecting the right credit card can be made easy when you have the right information. Take a look at the top four business credit cards with cash back and select the one that suits your unique business needs. Spark® Cash from Capital One® If you are looking to earn rewards on your business credit card, then this one can be very promising. The structure of the cash back rewards for Spark Business ® is simple – you get flat 2% cash back on every purchase you make.

There are three major American companies that maintain a detailed report of your credit standing and repayment history. This data can be requested for by banks, money lenders, credit card companies, employers and so on. Let us take a look at when hard credit inquiries are essential and when soft credit inquiries may be initiated and by whom. Hard credit check inquiries are normally mandatory when you have applied for an automobile loan when you apply for a home loan when you apply for an educational loan as part of a credit card request application when applying for a mortgage of your property A hard credit check inquiry may be requested when your identity needs to be verified by a stock trading bureau you require a telephone or internet connection you wish to open a checking, savings or a money market account in any bank you wish to increase your available credit limit Soft credit inquiries are usually mandated when you wish to ascertain your credit score you wish to avail of a loan or a credit card offer that has already been pre-approved by the financial institution or the bank in question based on your past transactions with them A prospective employer wishes to check your overall background as part of the vetting process to determine if you would be suitable for the job in question and whether you can be trusted with specific responsibilities.

Credit card companies offer users the benefit of making purchases while actually paying for them later. However, while the offers made by credit card companies might actually sound very appealing, you must be aware that credit cards have their stated benefits only when used with great care and sensibility. Indiscriminate spending beyond one’s means is a sure no as are delayed or defaulted payments. There are some situations when investment advisors strongly advice against the use of credit cards. Here are a few reasons why they do so. If you are struggling to meet your monthly expenses, do not use your credit card just because your cash position is low or it is hard to make ends meet at the end of a month. Spending what you do not have will only run you into deeper debt, not to mention the interest that would have to be paid. If you know that you cannot pay the credit card balance in full or you are only able to make the minimum required monthly payments, it may not be a wise idea to use your credit card. When you do this, the amount payable month on month may increase exponentially, not to mention the interest that will be levied on an ever-increasing amount every month.

Small business owners have great purchasing benefits with the use of business credit cards when they are short on cash flow and maxed out their line of credit. There are different types of business credit cards that can help each business category in various forms. Taking short amounts to deal with finance shortages and then repaying them at the pace of a business helps business owners to run their services efficiently. Some of the advantages of using a Business Credit Card are: When small businesses do not have sufficient credit score rating or have maxed out their borrowing terms, a business credit card can come in handy as there is no lengthy approval process to secure a traditional bank loan. The is no waiting time period to get the required funds to either purchase a product or take care of any payments in the line of your small business when you have a business credit card as the transaction can be carried out without having to wait. It is similar to the use of a checkbook or money that have you have in your account. When business is off-season and sales are low or there are pending payments that are yet to be received from your client’s end, then a business credit card give you the required financial cushion without putting a strain on your regular business activities.

Many parents argue over the fact whether their teenager should be given a credit card. It could be a good financial move,, but a credit card comes with a lot of responsibilities. If the parents have a good credit standing, adding them as an authorized user on your card can teach financial responsibility to the child, that is, if and only if parents have a good credit score. Timely payments and low debt can help you build up a strong credit. However, the impact of the user information that is authorized on the score will be different for different people. If you have a good credit score and your child is an authorized user on the card, it can help them score the best interest rates on loans and make it easier for them once they are a part of the real world. Risks of handing over a credit card to your child There is a risk of adding your child as an authorized user. First of all, you and your child will have the same spending power and no liability of repayment. This means your child will have no responsibility to repay the amount. It will fall on you, and there are fewer chances that the child will learn financial discipline.

Credit cards come with a set of perks that make travel and accommodation easier. Depending on the type of credit card you hold and the rewards offered by the card issuer, you can make the most out of the card you use. There are general reward credit cards that allow you to redeem the points for plane tickets in addition to offering redemption opportunities among other things. Also, there are cards that allow customers to earn credit miles when they make purchases. If your card is co-branded with an airline, you can redeem the points only with that specific airline. However, if you have a generic card, you can redeem the points with a number of airlines. If you have wondered how frequent fliers enjoy access to private lounges and have quick check-ins, it is because of the credit cards they use. Elite credit cardholders have better offers and services than regular credit cardholders. Based on your usage of the card and the number of purchases made by you, you can avail of special offers and amenities from the airlines. Airline specific cards As the name suggests, these cards are associated with a single airline. Airline-specific credit cards can be used to earn points and redeem the points on a single, specific airline.

It does sound tempting to get cash from your credit card. However, a cash advance is not like withdrawing money from your debit card. Cash advances on a credit card are expensive and may put you into a debt trap. You can take a cash advance by using the convenience check supplied by the issuer or from an ATM through your credit card. It is often said that you should avoid cash advances on a credit card, here are some common reasons why this is recommended. Credit card advances are expensive This is one of the most expensive types of credit card transactions since it has huge costs associated with the same. Firstly, you pay a cash advance fee, which could be a minimum fee or a percentage of the amount of the advance. The fees usually range from two to five percent of the cash advance and most companies charge on the higher end. Secondly and finally, you will be charged an ATM fee which also depends on the ATM you use. High-interest rate Cash advances carry a higher interest rate than the rate of interest you pay for purchases. Even if you pay the amount within time, you will end up paying a higher interest on a cash advance.

When it comes to credit cards, consumers are bombarded with several choices from the numerous banks and financial institutions in the market. Through these credit cards, banks allow customers to spend money at free will and repay the amount with certain terms and conditions applied. Credit cards can improve your credit score. The more you purchase, the more rewards and perks you get. Also, banks and lending institutions check credit scores before sanctioning various types of loans and mortgages to customers such as education loans, housing loans, business loans, and so on. To get the best benefits, it is essential to choose the right credit card. It cannot be an impulsive decision. For this, you need to ask the right type of questions and also inquire with the sales representatives of the card issuing company. Preparing well is a must for negotiations. Here are some questions which will help you to find the right credit card. What is the interest rate offered? Depending on whether one carries a balance or not, choosing the right interest rate on a credit card is one of the most important aspects. Look for the low-interest rate cards which don’t charge an annual fee. In the introductory period, the card has 0% interest.

One of the biggest issues while using a credit card is that it can easily land you in a debt trap. With an easy-to-pay and easy-to-accumulate system, credit card debt can easily go over your affordable limit and before you know it might even touch a whopping amount of $10,000. You have to identify the reasons and causes behind the excessive credit card debt and take some precautions with your credit card to avoid spending more. Here are a few tips to help you can pay off credit card debt worth $10,000 in the fastest way possible. Understand the difference between debt avalanche and debt snowball When it comes to paying off your debt, the two terms that you should know of are debt avalanche and debt snowball. Both are different ways of paying off bills and give you different choices depending on your convenience.  A debt avalanche is basically when you start paying off the high-interest rates on your loans and then slowly slide down to lower interest rates. A debt snowball is when you start by paying off lower interest rates and then move on to pay back loans with higher interest rates. A debt avalanche is for people who want to pay off their debts quickly.

In certain cities where the credit score of the residents is significantly lower than that of those residing in other cities of the country. It is difficult to determine a cause behind this. Individuals residing in cities that have a low credit score tend to use their credit a lot more than those in other cities with a high score. One of the most important determinants of the credit score is credit utilization and the debt. The cities with the lowest credit scores do not come close to the average credit score across all the cities in the US. The reasons behind the same may vary but some of the common factors include high debt and high credit card balance. Based on these factors, the following 10 cities have consistently shown a lower credit score over time. Shreveport, Louisiana The average credit score in Shreveport was 640 and the average debt stood at $41,204. The credit utilization of the residents was 34 percent and their average credit card balance was $5,122. Corpus Christi, Texas The average credit score in Corpus Christi in Texas was 639 and the average debt stood at $41,435. The credit utilization of the residents was 36 percent and their average credit card balance was $5,781.

The credit score of a particular area indicates how the residents of that place utilize their credit. It is difficult to find the exact causes of a high or a low credit score in a particular area. Credit scores are affected by economic and cultural issues prevalent in the area. In addition to these, other factors such as credit utilization and the overall debt of the citizens also have an impact on the credit score. Here are ten cities that have a low credit utilization rate, a high credit score, and a low credit card balance, which means that the residents pay off their dues in time. A credit score above 700 is considered as excellent and these cities have shown the highest score across the country over time. Madison, Wisconsin In the city of Madison in Wisconsin, the average credit score is 702 and the average debt is $35,815. It has an average credit card balance of $4,545 and a credit utilization of 26 percent. Fargo, North Dakota In the city of Fargo in North Dakota, the average credit score is 703 and the average debt is $37,966. It has an average credit card balance of $4,661 and a credit utilization of 25 percent.