Published By Janet Gershen-Siegel at December 28th, 2017
Per the SBA, business credit card limits are 10 – 100 times those of personal cards! This means you can get a lot more money with corporate credit. And it also means you can have personal credit cards at retail stores, and now have a second card at the same shops for your small business. And you will not need collateral, cash flow, or financial information to get corporate credit.
Perks vary, so make certain to choose the perk you prefer from this range of options.
For a 0% APR period, we prefer the Ink Business Cash ℠ Credit Card. You pay no annual cost. It’s got an interest-free period. It has versatile cash-back rewards. There are spending limits for your employees. You will have to have a credit score of 690 or better. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-cash
For an introductory 0% APR time period, we also go for the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn double points on daily company purchases up to an annual limit. The regular APR is 12.24% – 20.24% (variable). Get it here: https://creditcard.americanexpress.com/blue/
Other types of cards may prove more useful even if they are not a 0% APR business credit card. Here are some of our favorites.
For Travel Points, we have a preference for the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles after you make $1,000 in purchases on your new card within your first three months. Terms and limitations apply. In addition earn a $50 statement credit after you make a Delta purchase with your brand new card within your first three months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile on each qualified dollar spent on purchases. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/gold-delta-skymiles/44279
Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:
– Priority Pass Select
– Delta SkyClubs
– American Express Centurion Lounges
You also get Gold Status when you enroll in the Starwood Preferred Guest program.
$ 200 annual air travel fee credit. There is a $100 credit towards the Global Entry application fee, which includes access to TSA PreCheck program. You get one point for every dollar spent on most purchases. You get 1.5 times the points on charges of $5,000 or more on qualifying purchases, up to one million more points per year. You get five points per dollar spent purchasing flights and prepaid hotels from the American Express Travel website. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Also, make sure to Check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points once you spend $5,000 on purchases in first 3 months from account opening. Earn three points for each dollar on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone, advertising purchases made with social media sites and search engines each account anniversary year. Earn one point for each dollar on all of the other purchases. There is no limit to the amount you can earn. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-business-preferred
For Low APR/Balance Transfers Business Credit Cards, we like the U.S. Bank Business Edge Platinum. You start off with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee. Thereafter, the purchase APR is a variable 10.49% – 18.49%, which is dependent on creditworthiness. There is no yearly fee. This card is just available to people with great or excellent credit. However, there is no rewards program for purchases. Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do
Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month introductory 0% APR offer. There is no annual fee. Right now companies can get double points on the first $50,000 in purchases annually. Get it here: https://creditcard.americanexpress.com/blue/
Have a look at the Wells Fargo Business Secured Credit Card. It allows cardholders to obtain a credit limit of $500 – $25,000. The amount available corresponds to the amount of money you offer to secure the line. Your purchase APR rate can be as low as a variable 13.15%. The annual fee is $25. The more cards you have the more expensive your annual fee is going to be. This card allows company owners with inadequate personal credit to acquire a card to make purchases and create business credit. The card will only report to the personal credit bureaus if you default or are overdue on payments. Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
Take a look at the SimplyCashPlus Business Credit Card from American Express. You can earn as much as $400 cash back. Earn a $200 statement credit after spending $5,000. You get 5% cash back at US office supply stores and on wireless phone services purchased directly from US service providers (this applies to the first $50,000 of yearly spending). You also get 3% cash back on the spending category of your choice, from eight distinct categories, consisting of air travel, gas, advertising and computer purchases (applies to first $50,000 of annual spending). In addition you get 1% cash back on all other purchases. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279
Also, check out the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With it, you can earn a $200 statement credit after $500 in purchases within 60 days of account opening. You also get 3% cash back on purchases at gas stations and office supply stores (up to $250,000 yearly). And you get 2% cash back on purchases at eateries, and 1% cash back on all purchases. There is no annual fee. It is offered to applicants with exceptional credit. Your cash back can only be redeemed in $25 increments. Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/cash-rewards-business-credit-card/
In addition, check out the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, with no restrictions. New cardholders can also get a $200 cash bonus as soon as they spend $3,000 on new purchases within three months of account opening. New customers also get introductory APR of 0% on purchases for nine months. There is no annual fee. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/
Take a look at the Business Gold Rewards Card from American Express OPEN. You can earn 50,000 Membership Rewards points after $5,000 in purchases on the card during first three months. You get three points on your choice of five categories, two times the points on the remaining categories, and one point per dollar on all other purchases. It has a $0 yearly fee for the first year, but then your yearly fee goes up to $175. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards
Also, have a look at the Business Platinum ® Card from American Express OPEN. You can get as many as 75,000 Membership Rewards points at the time of account opening. You can also get 50,000 Membership Rewards points subsequent to spending $10,000 and an extra 25,000 points after spending an added $10,000 all on eligible purchases within the first three months. Also you can get five times the Membership Rewards points on airline flights and prepaid hotels on amextravel.com. Unfortunately, it has a $450 yearly fee. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Your absolute best 0% APR corporate credit cards are based on your credit history and scores. Only you can figure out which features you want and need, so make sure to do your homework. And, as always, make sure to build credit in the established order for the highest, fastest benefits.