Non Profit Business Credit Card

Additionally most business credit cards require a personal guarantee which requires a personal credit check and means you become personally liable for the business s debts.

Non profit business credit card. Nonprofit organizations should especially take interest rates into serious consideration as business credit card aprs can increase dramatically unlike with consumer plastic which is protected by the credit card act of 2009 a hefty rate and a large balance can spell trouble for a nonprofit on a shoestring budget. As a nonprofit you can apply for a business credit card with your employer identification number ein. Consumer cards can work if you use them correctly but business credit cards usually offer rewards and benefits that better suit professional organizations. The question is how much will the processor or the bank charge in setup fees and per transaction fees.

And because a nonprofit is technically a business it may make sense to apply for a business specific credit card. In order to find out if a bank reports to business credit or consumer credit agencies on a specific card they offer you will have to read the small print and call customer service. Like chase capital one has multiple business credit cards on their docket. The simplycash plus business credit card from american express is a good choice for keeping your nonprofit s office up to snuff offering 5 cash back rewards for office supply and wireless service purchases no annual fee and a flexible credit limit.

Another great benefit of using a credit card for your nonprofit can be establishing business credit provided you seek out a credit card company that reports to business credit reporting agencies. There are also credit cards out there designed specifically for nonprofits. More specifically you ll earn an unlimited 1 5 cash back on every purchase with no minimum to redeem. But with a straightforward cash bonus and no annual fee the capital one spark cash select for business is an especially attractive nonprofit credit card.