. Minimum Credit Score: 700

. Minimum Revenue: $75,000 annually

Pretty simple really. A business credit card works just like your personal Visa or MasterCard. You make monthly interest payments on any amount you borrow against the card but you can use the money for anything and borrow up to the maximum loan amount. As with all credit cards, making your payments on time every month is essential to maintaining a good credit score, while failing to do so may severely impact your ability to borrow through other types of business financing as your business grows.

A business credit card allows you to establish a credit history for your company, separate from your personal credit history, and, just like your personal credit card, carries rewards that you can use for supplies, gas, travel and other expenses.

You'll need a personal credit score of 700 or better to access this option, but if you need more credit than one card can provide and other financing options are not yet available to you, it can be the short term financing solution you need while saving you time. A financing company will work with you to apply for multiple business credit cards at once. Provided that you use these cards wisely and make all your minimum payments on time, you can quickly build your company's credit history, which may help down the road when applying for other types of financing.

Do be careful with this strategy though. If you're not certain of your ability to keep track of your cards and pay each one on time every month, you can easily destroy your credit rating before your business has a chance to get off the ground.

Benefits

. Good credit building tool

. Good for business lacking credit history

. Quick access to cash

. Built in collateral with equipment financing

. Can be used for a variety of purposes

Drawbacks

. Excellent personal credit required

. Collateral usually required

. Relatively low loan amounts