Published By Janet Gershen-Siegel at December 31, 2017
Per the SBA, corporate credit card limits are 10 – 100 times that of personal cards! This shows you can get a lot more cash with small business credit. And this also means you can have personal credit cards at retail stores, and now have an additional card at the same stores for your business. And you won’t have to provide collateral, cash flow, or financials to get business credit.
Features vary, so make certain to select the perk you prefer from this range of choices.
For Low APR/Balance Transfers Business Credit Cards, we like the U.S. Bank Business Edge Platinum. You start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer cost. After that, the purchase APR is a variable 10.49% – 18.49%; this depends upon creditworthiness. There is no yearly fee. This card is just available to those with great or superb credit. Unfortunately, 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 initial 0% APR offer. There is no yearly fee. Right now small businesses can earn double points on the initial $50,000 in purchases per year. Get it here: https://creditcard.americanexpress.com/blue/
For a 0% APR period, we prefer the Ink Business Cash ℠ Credit Card. You pay no annual cost. It’s got an interest-free time 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 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 business purchases up to an annual limit. The normal 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 yearly fee. There are cash-back rewards. You will need to have 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/
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 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 rises to $175. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-gold-rewards
Also, check out the Business Platinum ® Card from American Express OPEN. You can get as many as 75,000 Membership Rewards points upon account opening. You can also earn 50,000 Membership Rewards points after spending $10,000 and an extra 25,000 points after spending an added $10,000 all on qualified purchases within first three months. Also you can get five times the Membership Rewards points on airline 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
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 purchased straight from US service providers (this applies to first $50,000 of annual spending). You also get 3% cash back on the spending category of your choice, from eight different categories, including airfare, gas, advertising and computer purchases (applies to first $50,000 of annual spending). Additionally 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, take a look at the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With it, you can get a $200 statement credit after $500 in purchases within 60 days of account opening. You also get 3% cash back on purchases at gasoline 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 yearly fee. It is offered to applicants with outstanding 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, consider the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, without any limitations. 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/
Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to obtain a credit limit of $500 – $25,000. The amount available equals the amount of cash you offer to secure the line. Your purchase APR rate can be as low as a variable 13.15%. The yearly fee is $25. The more cards you have the more expensive your yearly fee will be. This card allows small business owners with substandard personal credit to get a card to make purchases and create 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/
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 during your very 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 receive Gold Status when you register for the Starwood Preferred Guest program. You receive 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 per 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 site. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
Also, make 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 within your first three 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 per 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
Your absolute best small business credit cards are based on your credit history and scores. Just you can decide which benefits you want and need, so be sure to do your homework. And, as always, make sure to build credit in the recommended order for the best, fastest benefits.