Small Business Credit Card

A small business credit card maybe used to pay for business or work related expenses such as photocopying supplies or entertaining clients, and is generally issued in the name of the business, and are designed to make monitoring, managing and paying for business expenses simple and stress free.

Small Business Credit Cards generally have a focus on helping businesses owners safe time, ease cash flow management and simplify their expense reporting and reconciliation. With the rise in the number of small buisnesses in Australia the credit card providers have responded by introducing lucrative introductory offers to entice applications from new customers.

What Information is required to apply for a Small Business Credit Card?

The standard requirements are:

  • You must be at least 18 years of age
  • Have a good credit rating 
  • Permanent resident of Australia.
  • Registered for an Australian Business Number (ABN).

Some card providers specify additional eligibility requirements such as a minimum business income and/or a minimum number of years for the applicant to have been in business.

Here's a checklist of information to have to hand before commencing your Small Business Credit Card Application:

  1. Your Personnel Income details to include salary, wages, pension and any other sources by annual or monthly value.
  2. The applicants details - name and address details (note these personnel details will be used by the credit card provider to access your application in conjunction with the information provided about the business)
  3. Current employment - Company and position in the company
  4. Company Details - Name, Business Type (Sole Trader, Charity, Pty Ltd etc.) ABN and business category
  5. Company Contact details - mobile number, email address and the address from which the company trades
  6. Financial commitment details - to include details of any mortgages, loans, credit cards and monthly living expenses
  7. Driver's license 
  8. Your accountant's details 
  9. Balance Transfer Details - Details of the credit card and value of any balance transfer.