All Financial Education

Making the Most of Your Business Credit Card

March 17, 2021

Woman at laptop with credit card

So you have reached the point in your business where you are ready to take the next big step and get a credit card. This is an exciting time, you’re ready to up-level your business and make big money moves like never before! It can also be a worrying time, how can you be sure that your business is using the credit card responsibly, while also making the most of it? When you have your business credit card through ICCU, the ability to manage and make the most of your business credit card experience is easier than ever.

Choosing the Right Card

The first step is choosing the right credit card for your business. There are many attractive credit card offers out there, and it can seem overwhelming to choose one. It’s important to pay attention to not only the initial introductory offer for a card, but also the long-term interest rate and fees. Though a card may initially offer 0% interest, but then increase the rate over 20% quickly once the intro period is over. It may also have large fees, including international transaction fees, annual fees, and more. When choosing the right card for your business, take into an account all of the ins and outs of the card, not just the introduction offer.

It’s also important to consider which type of card will best support your business’ goals. A credit card can be a great tool for easy access to needed funds to help scale your business right from the start. Our Business Variable-Rate Platinum Visa is a low interest, no fee credit card that would be a great fit for a new business that may plan to carry a balance, and needs a low rate. We also offer a Business Rewards Visa which may be best if your business plans to have a small balance but still wants to earn rewards. A Business Premier Rewards Visa is the perfect card for a business that is able to pay off their bill monthly and wants rewards with extra perks. At Idaho Central, we offer no fees for balance transfers, low interest rates, and great rewards options to choose from. You can view all of Idaho Central’s business credit card options to easily compare here, making the decision simple!

Know and Maximize Your Rewards

If you have a rewards card, it’s important to know how your rewards program is structured. It’s not uncommon to be lured into a seemingly great credit card offer with flashy advertisements telling you about their high cash back percentage. Though that 3% cash back may seem appealing, take a close look at what it really entails. Many cards may offer a large amount cash back for certain purchases, but a small amount cash back for your everyday purchases. For example, you may have a credit card that offers 3% cash back on travel, and 1% on everything else. If your business doesn’t spend much on travel, your overall cash back may be much lower than you anticipate from the initial large claim of 3%. It may be best to find a card with a straight-forward point system for a fixed amount of points for each dollar spent.

In addition to knowing how you receive rewards, you will want to know how your rewards are redeemed as well. Many people love their travel cards, but these are often only redeemable for travel, not cash back. Maybe you saved up all of your points for the year to go on a big family vacation, but then had a family emergency come up and needed to postpone your plans and use the funds for the emergency instead. If your rewards are only redeemable for travel, then you wouldn’t have the option of cash back to use for the emergency. Considering this, it may be best for your card to have flexible redemption options, letting you plan for your fun family trip while also allowing you to use the rewards for an emergency as needed. At Idaho Central, our reward points are redeemable for cash back, travel, gift cards, merchandise, and more. Choosing the right rewards card for you is the best way to make sure you are making the most of your business credit card. Our Business Premier Rewards Visa offers 2% cash back on all purchases, offering you great cash back on every purchase your business makes, not just some of them. Don’t forget to keep an eye out for future promotions!


As a business owner, keeping your business secure is one of your top priorities. Knowing what your financial institution offers for card security can give you peace of mind, and help you to know that you are being taken care of. At Idaho Central, we are proud to offer our members automatic card fraud monitoring for all ICCU cards. If fraud is found, our cards are also protected by Visa’s zero fraud liability, protecting your accounts from losses.  In addition, we offer Card Control, a free app that allows you to stay in control of your cards. You turn them off and on as needed, set spending limits, define approved types of transactions, receive real-time alerts, and protect your card from theft.  We can also provide a Business Card Management tool upon approval, which allows you to turn employees cards on and off as needed, set limits on each of your employees’ cards, and have full manageability of how your limit is being spent.

Know Your Extra Benefits

After going through all of the work of picking out the right card, budgeting, making sure your security is in place, and maximizing any rewards, you may feel like you’ve tapped out all of the benefits of your business credit card. Luckily, that may not be the case! Idaho Central offers great credit cards with extra benefits that you may not be aware of. This includes auto rental collision damage insurance, travel and emergency assistance services, purchase security and extended protection, and more. Do your business travel frequently? You can even level your extra benefits with our Business Visa Rewards Platinum card, which comes with Visa’s Concierge service. This concierge service can help you plan your trip, reservations and recommendations included!

If you’re still in search of a great credit card that will work best for you and your business, Idaho Central’s Business Relationship Officers are happy walk through the process and go over all of the benefits with you. Contact one of our Business Relationship Officers and apply for your new business credit card today!