The business charge card marketplace, which includes the Capital One VentureOne Rewards Credit Card, has become one of the most versatile business-funding tools. This kind of funding is particularly beneficial for start-up companies or entrepreneurs with a sparse or spotty business credit history and would not permit these business owners from qualifying for a traditional business line of the credit.
Many entrepreneurs needing cash do not have willing, wealthy family members or colleagues with oodles of extra money to fund a new business concept or profit-making idea. Many merchant accounts assist new business owners – that is, as long as the cardholder is smart enough to use their credit judiciously by:
- Avoiding a purchase that exceeds the company’s budget
- Avoiding a Late Payment
- Staying within your Credit Limit
(Scroll down to continue reading or apply for the Capital One Ventureone Rewards Credit Cards below).
Small business credit cards usually offer higher credit limits, with more generous reward programs than those issued by a consumer bank. Other benefits offered by credit card issuers include:
- A sign-up bonus
- A Monthly Grace Period for one’s minimum payment
- Appealing Balance Transfer offers
- Access to FICO scores, other Credit Modeling & Algorithms, and Credit Bureaus
- The ability to only partially pay the credit card balance
- A cash advance
- The option for the cardholder to carry a balance from the previous month forward. Note – leaving a debt balance on your business credit card will begin the accrual of finance charges
However, be forewarned, that business oriented credit cards may require cardholders to pay an annual fee and/or, maintain Good or even Excellent credit histories. To put this in perspective: Excellent credit is defined as an appropriately managed credit profile:
- With an acceptable credit history going back three years, preferably five or more
- A FICO score of 700 or higher, and
- An established pattern of moderate and controlled use of credit and debit cards
Business Credit v. Personal Credit – How do their qualifications differ?
When applying for a business credit line, you must provide evidentiary documentation and, comply with credit standards than differ from consumer credit cards. Less restrictive business credit card issuers may only ask for:
- An Authorization to obtain your credit report
- A valid Social Security number, and
- An affidavit that the cardholder will be using the business line of credit strictly for business purposes.
The more restrictive credit card issuers ask for more detailed paperwork like:
- A Federal Employer Identification Number (EIN),
- Evidence that the business is valid corporation, partnership, etc.
- Financial statements related to business operations (i.e. a balance sheet, a profit and loss statement, audited financials)
It is important to note that business charge cards do not protect business cardholders the same way the CARD Act protects consumer charge card holders. For example, business credit card issuers are not required to advise account holders if there are any changes to the terms, policies or conditions.
Your adVenture Begins Now!
The Capital One VentureOne Rewards Credit Card provides simple rewards minus account restrictions levied by other credit card companies. The primary benefits of the Capital One VentureOne Rewards Credit Card care described by Capital One’s chosen tagline:
The ‘No Hassle’ credit card!
The many benefits of the Capital One VentureOne Rewards Credit Card include:
A LACK OF FEES
- No Annual Fee
- No foreign credit card transaction fees – the Capital One VentureOne Rewards Credit Card Policymakers are pledging to maintain this practice despite an obvious industry shift where this perk is no longer being offered. The reality is, just this benefit ultimately equates to a two-four percent discount for purchases made outside the borders of the United States.
DUE DATES, INTEREST RATES AND APRS
- A low introductory Annual Percentage Rate (APR) – of 0% – for purchases made during the first year of card ownership. The APR changes to a variable interest rate after the introduction period expires and will be modified to either 12.99%, 17.99% and 22.99% – contingent upon the cardholder’s credit history and credit score. This variable rate follows the movement of the Prime Rate as published by the Wall Street Journal on the 25th of each month.
- When approved, credit lines are offered for a minimum of $2,000 per account
- Late Fees run up to $35
- There are no Penalty APRs in the event of delinquent payments, or arrears
- Cash Advance fees – 3% of the cash advance amount with a minimum of $10
- No Balance Transfer fees, the Introductory interest rate will not be applied to balance transfers
- The due date for your Capital One VentureOne Rewards Credit Card is a minimum of 25 days after the close of your credit card billing cycle. Interest will not begin to accrue on new purchases if the previous balance has been paid in full, on time.
- A bonus of 20,000 miles is issued when the cardholder spends at least $1,000 for purchases made during the first 3 months following your enrollment. This bonus is equivalent to $200 that may be used as a travel reward.
- 1.25 miles for every dollar charged on the card, no need to worry about mile rewards categories that can change every three months
So, how does the Capital One miles-reward program work?
The Capital One VentureOne Rewards Credit Card provides small business owners with an easy to use ‘Miles Reward’ program that has been designed specifically for the use of business applications. The program offers:
- An elevated rewards rate of 1.25 miles, for every purchase made every day, all year. There are no limits on how to earn miles, or how many miles one can earn.
- There are no spending categories that change periodically to keep track of
- Miles earned with Capital One VentureOne Rewards Credit Cards can be redeemed as a statement credit for travel related expenses regarding airlines, cruise ship lines, or rental cars.
- The Capital One VentureOne Rewards Credit Card has no travel blackout dates to worry about. The rewards can be applied to any flight, hotel, or airline.
- There are no advanced booking procedures to follow
- The miles earned through the Capital One VentureOne Rewards Credit Card will never expire, as long as the account remains open and active
- There are no limits as to how many miles a cardholder can accumulate through valid purchases
- The earned reward miles are simply applied to travel expenses charged on the card, or by check
How to earn VentureOne’s reward miles?
Simple. Miles earned with the Capital One VentureOne Rewards Credit Card are worth a penny for each mile earned. As such, 100 points equals a one-dollar reward.
Here’s an example: If you earn 1.25 miles for every dollar spent with the Capital One VentureOne Rewards Credit Card, spending $20,000 will earn a cardholder 25,000 miles – an amount equivalent to a $250 airline ticket —on any airline of the cardholder’s choice. The Capital One VentureOne Rewards Credit Card offers redeemable reward points that exceed other rewards cards that only give one point for every dollar spent.
The reward miles of 1.25 miles earned for each purchase can be used to book any travel-related items from a travel agent or any travel website of your choosing. Once travel plans are in place, apply your rewards miles to the each travel related purchase in the form of a statement credit.
The Capital One VentureOne Rewards Credit Card is also covered by Visa Signature Benefits that include:
A Damage Waiver For Auto Rental Accidents
If you rent a car and use your Capital One VentureOne Rewards Credit Card to pay for the rental, the cardholder is covered for damages due to theft or by accident. This allows one to travel with peace of mind.
Seasoned Customer Service Agents
Representatives are experienced in matters of business finance and are available 24/7.
Extended Protection Warranty
The Capital One VentureOne Rewards Credit Card doubles the manufacturer’s warranty for any purchase.
Security for Purchases Made
The Capital One VentureOne Rewards Credit Card repairs, replaces, and even reimburses for items that have been damaged or stolen, if, the theft or loss occurs within 90 days of the purchase.
Online Account Management
Monitor accounts through easy to access online services; choose to activate alerts that can be sent to a variety of mobile devices. Download up to 13 previous months statements.
Emergency Assistance Services
When traveling on business, as a VentureOne Rewards Account holder, you are always protected (24 hours a day, 365 days a year)
A Free mobile App for the Capital One Spark Cash Select for Business Cardholders
Simplifying the Application Process
The Internet has become a phenomenal tool that facilitates many financing services. And, thanks to cutting-edge security technology (like password protections or encrypted codes), an Internet connection can be secured by many security firewalls. Some business owners may be reluctant to apply for a business credit report online, however, note the following precautions to take to mitigate potential risks.
Keep Devices Updated
Financial data should be protected by all possible security measures. If you choose to apply online, it is prudent to double-check as to whether the tablet, laptop, desktop or smartphone is kept up to date with the latest security technology. This is accomplished by installing the latest version of anti-malware to ensure your protection remains effective when keeping your private information from criminal enterprises.
Use Secure Networks Whenever Possible
When moving traveling, public Wi-Fi networks make it convenient to remain connected to the information superhighway. But be careful, many Wi-Fi networks are provided for free but are not secure. The bottom-line: it is recommended that cardholders use secure networks
Always Keep the VentureOne Password Protected
Never share passwords with anyone you cannot trust. Devise passwords that would be difficult hack. There are some tricks that can be used:
- Mix lower and uppercase letters and numbers.
- Replace certain letters with lookalike numbers. ‘Words3’ becomes ‘W0rd5s’
If you are applying for a Capital One VentureOne Rewards Credit Card, you can rest assured that the credit card company, Capital One, employs 256-bit Secure Sockets Layer (SSL) technology. SSL permits private financial information (including social security numbers, login credentials and credit card numbers), to be transferred safely and out of the hands of the techie wrongdoers.
The business charge card is a versatile business-funding tool for small and medium-sized businesses in any industry. These new products have made it easier for start-up business owners who find the path to business financing riddled with potholes and misdirection. The business credit card marketplace has only began to assess how this product improves the bottom-line for both the business owners as well as the credit card companies.
Business credit cards can also facilitate the tedious bookkeeping functions for a small business. The best approach when selecting an appropriate business credit card begins by understanding (and comparing) the benefits and the costs of each card. Remember, selecting the right business credit card to meet your needs will provide an opportunity to save thousands of dollars per year, book travel plans for free, or earn rewards for business spending.
Additionally, ramped up security for your purchases plus the benefit of extended warranties provide a much-needed peace of mind because, you can never predict the unpredictable! The unlimited 1.5% cash back for every purchase and the lack of administrative fees will also save the cardholder money.
Apply for the Capital One Ventureone Rewards Credit Card Online at the Business Financing Hub
Business owners can now explore external financing sources by researching quality, credible websites like the Business Financing Hub (BFH).
BFH was designed to help small business owners and entrepreneurs find business financing options in the maze known as the financial marketplace. BFH offers a plethora of financial solutions like, unsecured loans, business credit cards; and/or mortgages. The Business Financing Hub takes great pride in publishing topical articles to educate the community members to make better decisions.
The Business Financing Hub have specialty products to meet many financial situations. Even better, BFH will then craft a personalized, creative solution through a variety of products, tools and services. The Business Financing Hub is an online platform dedicated to small business owners in need of business financing or, business owners who just want to apply online for a business credit card. Apply online today.