As interest rates continue to rise, there are no signs that they will drop down. From December 2015 to 2018, there have been two major increases in the interest rates and more increase is expected in the future as CNBC states.
The interest rates hikes are expected to start affecting the cost of loans by small businesses. For business owners who pay their balances on time, every month will not be affected that much.
Every time the Federal Reserve hikes the interest rates, products that depend on the interest rates are affected such as the various credit cards in the market. Therefore, be prepared for a certain percentage increase by learning How Small Businesses Can Use Credit Cards to Combat Rising Interest Rates.
For business owners to escape the effects of the increasing interest rates, they have the option of using new cards that have introductory interest rates. Some of the top business credit cards without interest rates include;
1) Ink Business Unlimited Credit Card – With no annual fees, the card offers no percentage on all purchases and transfers for the first year.
2) Ink Business Cash Credit Card- For 12 months, you enjoy no interest rates on all payments, and after that, the interest varies from 15.24% to 21.24%.
3) The Blue BusinessSM Plus Credit Card from American Express- Has free introductory rates for the first 15 months.
4) SimplyCash® Plus Business Credit Card from American Express- With the card, you get 0% introductory rate for the first 15 months.
Another card that has added advantage to business owners is The Plum Card® from American Express which offers users 60 days to clear their balances before they start charging interest rates.
If you do not want your business to be affected by the increasing interest rates, understand How Small Businesses Can Use Credit Cards to Combat Rising Interest Rates. Also, you need to ensure that you do not have any balance after your introductory period is over.