In my article on “Building Business Credit,” I recommended Advanta Mastercard as great business credit card to use for your business. Their terms were very good, their customer support was great, and their reporting to the credit bureaus would allow you to build credit quickly.
Unfortunately, I just got word last week that Advanta has lost funding for it’s business credit customers, and will be closing all business lines of credit (including credit cards) as of yesterday.
I just wanted to put the word out there in case anyone has an Advanta business credit card and hadn’t heard about this. I’m also soliciting advice for a new business Visa or Mastercard. I use Amex for most of our business transactions, but unfortunately, not all merchants/vendors accept Amex these days.
Let me know if you have any suggestions!