Startup business credit cards come after choosing the best bank account. A credit card can save you from monotonous payment methods. Running a small business involves complex expense management and financial decisions on how to lower operating costs.
Do you run a startup that requires fuel payments? If the answer is yes, then you are in the right article. This article will guide you through Startup business credit cards, which can indirectly improve the operating efficiency of your small business.
Let’s start with the following.
Key takeaways:
- Choose a fuel card with a strong network in your startup location.
- A gas card can save small businesses that require refueling services for delivery vehicles.
- Pick a card that has accounting integration features.
- Some credit cards may have better rebates, but after a certain period, it could lower. So, read their terms & conditions carefully.
Startup business credit cards with no credit?
A credit card with no credit means you get a card from a financial institution that emphasizes business growth instead of credit history. They usually check your personal credit score, deposit security & other factors that signal credit security.
Below are some credit cards for startups that don’t require a credit record.
| Card Name | Annual Fee | Deposit Security | Credit Check | Rewards | Features | Regular APR | Best for |
| Capital One Spark Classic for Business | No | Yes | No | 1% cash back every time you purchase | No charge for annual and balance transfer | 30.74% variable | Credit building, Easy redemption, No additional fees |
| OpenSky® Secured Visa® Credit Card | No | Yes | No | No | No credit checks | 25.64% Variable | Good for startups with limited funds, |
| Ramp Corporate Card | No | No | No | No | Expense management tools options | No | Startups looking for corporate spending tools |
| Brex Corporate Card | No | No | No | No | No personal guarantee, FDIC protection | No | for daily and monthly payment options |
| American Express Blue Business CashTM | No | No | Lower Credit Score | 2% Cash Back | Financial protection and extended warranties | 18.49% to 26.49% Variable | better cash back rewards |
Card readers for small business?
Choosing a perfect card reader for a small business involves a holistic review of cost, payment methods & business needs. Therefore, picking the wrong card reader could cost you financially & strategically.
Our study finds the following good card readers for new startups that can save you time & money.
| Card Reader | Reader Cost | Transaction Fees | Best for | Compatibility | Security | 24/7 Customer support | Payment accepts |
| Square | Free | 2.6% + $0.10 per swipe | Beginners | iOS, Android, Square Stand, Square Register | EMV, PCI compliant | Yes | Visa, Mastercard, American Express, Discover, Apple Pay, Google Pay, Venmo, gift cards |
| eHopper | $99 | 2.75% + $0.10 | Best for small budget & complex operation | iOS, Android, Windows, Poynt, Elo | EMV, PCI compliant | Yes | Credit cards, debit cards, contactless payments, EMV chip cards, gift cards |
| Clover Go | $49 | $49 for hardware & monthly software plans | User- friendly | iOS, Android | EMV, PCI compliant | Yes | credit cards, debit cards, contactless payments, EMV chip cards, cash app payments, checks. |
| SumUp | Free | 2.75% per transaction | On-the-go payments | iOS, Android | EMV, PCI compliant | Yes | Credit cards, debit cards, contactless payments |
| Shopify POS | $299 | $299 for hardware & monthly software plans | e-commerce | iOS, Android | EMV, PCI compliant | Yes | credit cards, debit cards, contactless payments, Apple Pay, Google Pay, Shop Pay Shopify’s own payment method, gift cards |
| Lightspeed | $199 | 2.6% + $0.10 | Restaurants and retailers | iOS, Android, Desktop | EMV, PCI compliant | Yes | credit cards, debit cards, contactless payments, EMV chip cards, gift cards |
Fuel fleet cards small business?
A fuel fleet card, also known as a gas or fuel card, is used to manage fuel expenses for small businesses. In the USA, this type of card is also used by service trucks or delivery vehicles.
Sophia built a small restaurant in Los Angeles, but she couldn’t understand how a fuel fleet card would help her business.
Other details,
- Sophia has three delivery trucks that require regular refueling.
- Sophia has estimated monthly fuel expense of $2,000
If she takes a fuel card with the following conditions,
- Discounts= 10%
- No annual fees
- Has all types of gas station network
Money saving= Expense + annual fees – discount
= $2,000 + $0 – $2,000× 10%
= $2,000 – $2,00
= $18,00
With a Fuel Card, Sophia could save $2,00 per month, which is $24,00 annually. She also gets expense details and easy payment options, which will save her time.
Best fuel cards for small business?
My study has found that WEX Flex Card is the best fuel card for small businesses. Below are the significant factors that I have considered.
- Network
Small business means you have local customers or a limited market. So, you have to select a fuel card that has facilities to gas stations in your business location and your target market. WEX Flex card has a comparatively strong network than others, which could help you timely and financially.
- Zero fees
Annual fees could be a financial barrier for your small business. A $100 yearly card fee could be a laughable amount for big or medium-sized companies but not for small startups. You must reduce operating costs because you run a small business. A single penny could be a financial blessing for your small business. WEX Flex card doesn’t charge any annual fees for their service, which could be a save.
- User friendly
You run a small business and are not a technical expert. So, user-friendliness helps you financially, as you don’t need someone to learn about the technical aspects of the card. In this regard, the WEX Flex card could save you time and money.
- Tracking tools
Expense tracking tools help you get expense details, which indirectly helps you make cost-control decisions for your small business. Many fuel cards offer this feature, but the WEX Flex card gives you a better experience.
- Accounting integration
As a small business owner, you need accounting data to make financial decisions. Therefore, choose a fuel card that integrates with accounting. Under the WEX Flex card, you will get accounting integration features.
- Cashback
Every fuel card offers a discount. Read the terms and conditions and pick one that is cost-effective for your small business. Our study found that the WEX Flex card has better options than other cards.
However, the table below suggests other fuel cards that could be suitable for your small business based on its needs and fees.
| Features | WEX FlexCard | Shell Small Business Card | Capital One Spark Classic for Business | ExxonMobil BusinessPro Card | Edenred Essentials |
| Annual fees | No | No | No | No | No (varies after 1 years) |
| Network | Broad (Accepted at 107,000 stations which is 95% of US gas stations) | 13,000 stations | Visa | 1,200 Exxon and Mobil stations | VISA |
| Fuel Acceptance | Gasoline, diesel and electric | Gasoline and diesel | All gas stations and truck stops | Gasoline and diesel | Gasoline, diesel and electric |
| Truckstop Coverage | Yes | Yes | Yes | Yes | Yes |
| Rewards | 3¢ per gallon rebate for first six months | 1¢-5¢ per gallon | 1% cash back on all type of purchases | 6¢ per gallon | Rebate for 2.5¢ per gallon |
| Card type | Credit | Credit | Credit | Credit | Credit |
| Best for | Overall | Lower Credit Scores | Credit building | Fuel Rebates | Expense Management |
Best gas card for small business?
Before choosing a gas card for your small business, consider the abovementioned factors, such as fuel cards.
Fuel cards also serve as gas cards, but if you are looking specifically for gas cards, the table below provides details about them.
| Features | Ramp | Costco Anywhere Visa Business Card by Citi | U.S. Bank Business Triple Cash Rewards World Elite Mastercard |
| Annual fees | No | No | No |
| Intro APR | 0 | 0 | 0 |
| Regular APR | 0 | 20.49% (variable) | 19.24% to 28.24% (variable) |
| Credit score | Yes | Yes | Yes |
| Rewards | 1.5% | 2 to 4% | 3 to 5% (varies) |
| Card type | Credit | Credit | Credit |
Concluding Thought
Before taking any credit cards, estimate your startup spending amount & needs. A credit card could vary depending on small business requirements. For fuel cards, check their cashback facilities.
You must understand that no credit card is better than others because its features vary over time. Therefore, check your market size and decide which card could be suitable for your small business.
Frequently Asked Questions
Free credit card processing for small business?
There is no free credit card processing for small business in USA. Some credit card processing will waive monthly fees but charge some money for processing credit card. In a word, you have to pay some fees to process your credit card.
Disclaimer
The information provided in this article is author’s view & only for educational purposes. This is not a startups advice. This is not a sponsor post & not an investment advice. Do your research before making any important financial decision. Therefore, FinanceIdeas.org will not be liable for your financial loss.
