When it comes to determining what kind of credit card will be right for your small business venture, ironing out the differences between a personal credit card and a business credit card will make the most sense.

What might be most helpful when you’re deciding between the two is to think broadly. Putting pen to paper can really get your wheels turning, so write it out. First, what you will be using the credit card for and, second, what you are hoping to get in return.

It takes money to make money and running a business means there will be certain costs that are non-negotiable. Business credit cards are generally tailored to suits the needs of small business owners, and if you’re making a number of high-budget purchases, a business credit card might be the better option, since they tend to have higher credit limits.

While both of these kinds of cards have plenty in common, they also have a few differences. And you might be surprised to learn that even if you’re not at the helm of a small business, a business credit card can still come in handy. Freelancers and contractors can still use a business credit card as long as they use their social security number and a Doing Business As (DBA) name. When applying, these individuals will classify themselves as a sole proprietor.

If there is a 0% APR introductory period, find out when this time period lapses and make a visible note on your own day-to-day calendar. Why? Most notably, when it comes to a business credit card, keep it mind that the Credit CARD Act of 2009 won’t apply to your business.

This means that your APR could change and fluctuate, perhaps even overnight. Issuers aren’t required to let you know when this time period is over, so be your own advocate and set a reminder you can’t forget. For small infractions with a business credit card, you could be paying hefty fees that aren’t spelled out specifically for you. Also, with personal credit cards, you get a 21-day window period for payments. With business credit cards, this due date could change month to month.

Also, with personal credit cards, you receive 45 days notice if your interest rate will be hiked, but a business credit card can change, again, overnight. Be sure to check the position of the issuer in the small print of the terms and conditions of the credit card so you can be sure of what to expect.

Generally, if you’re working to establish a line of credit for your business, your business credit and your personal credit are usually separate. As long as you pay your business credit card on time, you shouldn’t have any issues, but if you make a mistake, you’re late on payment, or you default on a business credit card, that will reflect and show up on your personal credit history. Don’t let poor financial decisions come back to bite you!

Credit cards that have rewards, cash bonuses, and other “gifty” options may be useful for small business owners. Make a list of your largest business expenses and take a look. If you’re looking for a business credit card, you will want to find a card that can offer you rewards for these types of purchases.

Are you in the realm of business where you are buying and using quite a lot of office supplies? Or, are you in a line of business where bulk rolls of paper towels and 80 boxes of staples aren’t entirely useful to you? Benefits of using a business credit card can make sense when you take stock of what kind of rewards are being offered. Are you hoping to cash in some of your business expenses for certain travel rewards? If loyalty isn’t important (say, to a certain airline or hotel chain), look for options that allow you to trade points for partners or a variety of big names and brands.

Once you’ve figured out what rewards come with each card, make a note of the minimum number of rewards it takes to qualify for a redemption. Generally, having some kind of plan (again, write it down!) will make the redemption sweeter, otherwise you’ll be eager to cash in on something as soon as you reach the minimum.

Keep in mind that business shouldn’t be reliant on the prize that comes after you’ve made so many purchases. Compare sign-up bonuses, rewards, and interest rates and make sure you do your homework. Money may not be everything in the world of business (heart, passion, and perseverance are equal players, too!), but money certainly is a necessity. Building good solid credit matters.

It may seem like a no-brainer, but signing on the dotted line without reading the fine print shouldn’t be the norm. Read through the credit card terms and conditions and understand the ins and outs of just what is included.

If you’re still on the fence about which credit card might suit your needs best consider these factors:

A business credit card can be a great option for those entrepreneurs who want to establish business credit for his or her business.
You’re looking for business credit card reward that make sense for your line of business (i.e.: if you run an ice cream shop, perhaps a credit card that rewards you in pounds of office supplies might not be your best option.)
Higher credit limits? Seek out a business credit card.

A personal credit card can be ideal if…

You are the sole proprietor and you’re overhead costs are rather minimal.
You’re an individual who isn’t interested in the types of rewards associated with business credit cards.
You’re not anticipating applying for a small business loan anytime soon or you’re not interested in building business credit.