3 Business Credit Cards to Help You Prepare for the Busy Holiday Season

3 Business Credit Cards to Help You Prepare for the Busy Holiday Season

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November and December are the biggest shopping months of the year, according to the National Retail Federation. Total holiday spending comes in around $700 billion (with at least $100 billion coming from online/e-Commerce sales), creating demand for over 700,000 seasonal job openings. Average spending per holiday shopper is usually between around $750 and $800.

For business owners, the boost in sales and profits during the holiday season months also brings hectic, stressful, and challenging aspects. These holiday business needs include everything from properly tracking inventory, developing timely advertising campaigns, getting the right number of seasonal workers lined up, redesigning both your website and storefronts to holiday-themed graphics and decorations, as well as making sure you have the right amount of working capital on hand to ensure that you don’t experience cash flow issues during this busy (but profitable) time.

Here’s how business credit cards can help with business financing, and help you manage all of the challenges of the busy holiday season without experiencing a cash flow crunch.

Getting the Most Out of Business Credit Cards

I’ve used credit cards to help finance business procedures for my sales office, with a $200,000-plus total credit line from 20 different cards, including 12 reward cards, three general credit cards, and five store/vendor cards. Using cards with no annual fee, I charge my expenses but pay off all transactions within the grace period or within the provided 0% interest promotional period.

This way, you an avoid paying the full APR on the card, which can range from as low as 8.99% to as high as 25.99% on average. This allows you to collect rewards in the form of cash back, free airline miles, online retailer discounts, chargeback protection, identity theft protection, price reward program, roadside assistance benefits, travel discounts, cash flow management, and low-cost loans (using the 0% promotions), without having to pay the usual “costs” of credit cards, which includes annual fees and the full APRs.

There are a number of business credit cards that you could use for your operational requirements during the holiday season, then pay them off in full from a portion of the boost in sales/profits that result from being able to meet the demands of the hectic holiday season. Here are three business credit cards that offer an interest-free financing period.

Ink Business Cash℠ Credit Card

Ink Business Cash℠ Credit Card

Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account Learn More

At the top of the list for recommendation is the Chase Ink Cash® Business Credit Card, which has: 0% Intro APR on Purchases for 12 months as of February 19th 2018. Following the 0% interest promotional period, the standard APR will be 14.24% - 20.24% Variable as of October 10th 2017

In addition, this card also affords you:

Earn 5% cash back in select business categories.

• Employee cards can be added with no additional cost provided

Earn $300 bonus cash back when you spend $3,000 on purchases in the first 3 months from account opening. as of October 10th 2017

 

 

Capital One® Spark® Cash Select for Business

Capital One® Spark® Cash Select for Business

Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your Learn More

Next, I recommend the Capital One® Spark® Cash Select for Business Card, which has:

0% on purchases for 9 months and $0 annual fee.

Following the 0% interest promotional period, the standard APR will be a variable 13.99% - 21.99% (Variable) as of October 10th 2017

In addition, this card also affords you:

• 1.5% cash back everywhere with no spending limits in place

• Employee cards can be added with no additional cost provided

• When you spend $3,000 in the first 90 days, you will receive a $200 bonus

U.S. Bank Business Edge™ Platinum

Finally, I recommend the U.S. Bank Business Edge™ Platinum Card, which has:

no annual fee and a 0% interest promotion for the first 12 months of opening the card. Following the 0% interest promotional period, the standard APR will be a variable of 10.24% to 18.24%.

So you can open the card for example in October 2016, run up your November and December operational expenses, then use the sales/profits from the holiday season to pay off the card in full, well before the 12-month 0% interest promotional period ends in October 2017. Employee cards can be added at no cost.

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About the Author — John Tucker has over ten years of professional experience in Commercial Finance and Business Development. Tucker is also an M.B.A. graduate and holder of three bachelor's degrees in Accounting, Business Management, and Journalism. To connect with John Tucker, feel free to send him a connection invite via LinkedIn at: www.linkedin.com/in/johntucker99

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