Who would generate auto loans, mortgages and business credit if banks operated only as checking-account processors?
Approval rates for small business credit cards, on the other hand, were close to 75%.
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The company pulls personal and business credit history from bureaus like Experian and Equifax.
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Business credit cards also generally have higher credit lines than do personal credit cards.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
On top of that, large current budget deficits are crowding out small business credit.
It is unfortunate, but the CARD ACT precludes the universal recommendation of business credit cards for business purchasing.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
Still, despite having neither a liability advantage nor CARD Act coverage, business credit cards do have their benefits.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
The National Association of Credit Managers, meanwhile, reported sharp increases in credit applications and business credit in January.
If the program works as planned, it should lead to lower rates and greater availability of consumer and small business credit.
This bet on the strengthening consumer and business credit borrower may help the bank boost earnings in every quarter this year.
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Either way you look at it, both the application of this law and the classification of business credit cards are flawed.
This morning, we sent draft legislation to Congress on this fund, which now includes a new state small business credit initiative.
Likewise, this legislation instituted a more consumer-friendly payment structure for personal credit cards while providing no such provisions for business credit cards.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
Applying for a microloan at the outset would be a better route for many women to building excellent business credit, according to Arora.
Add to that the slight easing of credit standards I wrote about in Easier Business Credit: 4 Strategies for Corporations and Small Business.
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The average probability of default translates to a B credit rating, according to Sageworks, the provider of the Business Credit Report by Sageworks.
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The second initiative is a new state small business credit program that we recently proposed, working with governors like Governor Doyle and Governor Granholm.
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In 1974 it became the law of the land that women in the US could legally apply for business credit in their own name.
U.S. economic data due for release Monday includes advance retail sales, manufacturing and trade inventories, and the New York Federal Reserve small business credit survey.
While this type of penalty pricing can present issues for cardholders, the real problem with small-business credit cards is buried deep in the fine print.
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Sageworks, a financial information company, collects and analyzes data on the performance of privately held companies and provides the Business Credit Report by Sageworks.
It's not uncommon for a bank to increase interest rates on the customers they assume in a merger, said Erik Salmon, business credit advisor at BusinessCreditSuccess.com.
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For those purchases that you will pay off in full each month, a business credit card is the best option because of its numerous inherent advantages.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
The specific forms affected include federal form 5695 (Residential Energy Credits), federal form 4562 (Depreciation and Amortization) and federal form 3800 (General Business Credit).
"A lot of small-business people really rely on equity in their homes to help their small-business credit, " says Eric Seifert, senior vice president of commercial lending at Muskegon, Mich.
When housing crashed, it was the lack of new asset backed securities that pushed the economy into recession by freezing up the banking system and destroying consumer and small business credit markets.
Lastly and least likely, credit card companies can proactively apply the CARD Act to business credit cards, both because it is the right thing to do and because it will prevent further federal regulation.
She has advocated for change in everything from the way small business credit scores are dinged when they seek bonding from multiple companies to making government agencies unbundle contracts so small bidders have a better chance.
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Among the many protections and stipulations implemented by the new credit card law (CARD Act) are changes that actually make personal credit cards better in many cases for small business owners than business credit cards.
FORBES: How Personal Credit Cards Can Outperform Their Business Counterparts
For those of you who need business credit, you might take a look at an older blog post, 6 Steps for Businesses that Need Credit and 11 Business Challenges in 2011: Access to Credit.
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