Published By Janet Gershen-Siegel at December 10th, 2017
Every entrepreneur should know about these seven business credit cards.
Perks vary, so make sure to select the reward you prefer from this selection of options.
For a 0% APR period, we like the Ink Business Cash ℠ Credit Card. You pay no yearly cost. It’s got an interest-free period. It has versatile cash-back rewards. There are spending limits for your employees. You will need to have a credit score of 690 or higher. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-cash
For Fair Credit, we are partial to the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. You will need a credit score of 690 or better. BEAR IN MIND: the standard APR is 23.99% variable APR. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/
For Travel Points, we prefer 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. Also earn a $50 statement credit after you make a Delta purchase with your brand new card during your first three months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile on each eligible 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:
You also receive Gold Status when you register for the Starwood Preferred Guest program.
$ 200 annual air travel fee credit. There is a $100 credit towards the Global Entry application fee, including 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 eligible purchases, up to one million added points each year. You get five points per dollar spent purchasing flights and prepaid hotels from the American Express Travel site. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
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. Afterwards, the purchase APR is a variable 10.49%– 18.49%; this depends upon creditworthiness. There is no annual fee. This card is solely available to people with great or superb credit. However, there is no rewards program for purchases. Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do
Have a look at the Wells Fargo Business Secured Credit Card. It enables cardholders to get a credit limit of $500– $25,000. The amount offered is the same as the amount of funding 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 will be. This card allows business owners with unsatisfactory personal credit to get a card to make purchases and set up business credit. The card will only report to the personal credit agencies if you default or are overdue on payments. Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
Also, take a look at 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 (as much as $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/
Your very best business credit cards hinge upon your credit history and scores. Only you can determine which advantages you want and need, so be sure to do your research. And, as always, make certain to build credit in the recommended order for the max, fastest benefits.