Published By Janet Gershen-Siegel at February 22, 2018
Can you apply for a corporate credit card? Of course you can! Per the SBA, business credit card limits are 10 – 100 times those of personal cards! This means you can get a lot more cash with corporate credit.
And this also means you can have personal credit cards at retail stores, and now have a second card at the same retail stores for your business. And you will not have to provide collateral, cash flow, or financials to get company credit.
Perks vary, so make sure to select the benefit you prefer from this selection of options.
For a 0% APR period, we really like the Ink Business Cash ℠ Credit Card. You pay no yearly fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for employees. You will need a credit score of 690 or higher. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-cash
For an introductory 0% APR period, we also like the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn twice the points on regular company purchases up to annual cap. The regular APR is 12.24% – 20.24% (variable). Get it here: https://creditcard.americanexpress.com/blue/
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. NOTE: 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 incline toward 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 during your first three months. Terms and limitations apply. Also earn a $50 statement credit after you make a Delta purchase with your new card during 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:
You also receive Gold Status when you enroll in the Starwood Preferred Guest program. There is also a $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 qualifying purchases, up to one million more points annually. You get five points per dollar spent buying 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
Also, be sure to have a look at the Ink Business Preferred Card from Chase. Get 80,000 bonus points after you spend $5,000 on purchases in your first 3 months from account opening. Earn three points per 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 begin with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer fee. After that, the purchase APR is a variable 10.49% – 18.49%, which depends upon creditworthiness. There is no annual 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, investigate the Blue Business Plus Credit Card from American Express. It has a 15-month introductory 0% APR offer. There is no yearly fee. Right now companies can earn double points on the initial $50,000 in purchases yearly. Get it here: https://creditcard.americanexpress.com/blue/
Check out the Wells Fargo Business Secured Credit Card. It allows cardholders to obtain a credit limit of $500 – $25,000. The amount offered is the same as the amount of cash you provide 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 higher your yearly fee is going to be. This card allows company owners with substandard personal credit to get a card to make purchases and set up business credit. The card will just report to the personal credit agencies if you default or are behind on payments. Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
Take a look at the SimplyCash Plus Business Credit Card from American Express. You can earn as much as $400 cash back. Get a $200 statement credit after spending $5,000. You get 5% cash back at US office supply stores and on wireless phone services bought directly from US service providers (this applies to the first $50,000 of yearly spending). You also get 3% cash back on spending category of your choice, from eight different categories, which include air travel, gas, advertising and computer purchases (applies to first $50,000 of yearly spending). And also 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 during 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 restaurants, and 1% cash back on all purchases. There is no yearly fee. It is available 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/
Additionally, consider the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, without limitations. New cardholders can also get a $200 cash bonus once they spend $3,000 on new purchases during the first 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/
Check out 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 other categories, and one point per dollar on all other purchases. It has a $0 yearly fee for the first year, and afterwards your annual fee climbs 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 earn as many as 75,000 Membership Rewards points upon account opening. You can also earn 50,000 Membership Rewards points subsequent to spending $10,000 and an extra 25,000 points after spending an added $10,000 all on qualified purchases during first three months. And also you can get five times the Membership Rewards points on flights and pre-paid hotels on amextravel.com. But keep in mind, it has a $450 annual fee. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Your best corporate credit cards are based on your credit history and scores. Just you can decide which perks you want and need, so be sure to do your homework. And, as always, make certain to build credit in the prescribed order for the maximum, fastest benefits.