Published By Janet Gershen-Siegel at January 9, 2018
According to the SBA, small business credit card limits are 10 – 100 times those of personal cards! So you can get a lot more cash with business credit.
And it also means you can have personal charge cards at shops, and now have an alternate card at the same stores for your company. And you won’t have to provide collateral, cash flow, or financial information in order to get corporate credit.
Advantages vary, so make certain to choose the perk you prefer from this array of possibilities.
Look at the SimplyCash Plus 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 bought directly from US service providers (this applies to the initial $50,000 of yearly spending). You also get 3% cash back on the spending category of your choice, from eight distinct categories, including airfare, gas, advertising and computer purchases (applies to first $50,000 of annual 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 gasoline stations and office supply stores (up to $250,000 annually). And you get 2% cash back on purchases at restaurants, and 1% cash back on all purchases. There is no annual fee. It is available 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/
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 yearly fee. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/
Have a look at the Business Gold Rewards Card from American Express OPEN. You can get 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 annual fee for the first year, but then your yearly 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 get up to 75,000 Membership Rewards points at the time of 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 eligible purchases during first three months. Plus you can get five times the Membership Rewards points on airline flights and pre-paid hotels on amextravel.com. However; it has a $450 annual fee. Get it here: https://www.americanexpress.com/us/small-business/credit-cards/business-platinum/44279
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 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 during your first three months. Earn two miles per dollar spent on purchases made directly 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. 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 for every dollar spent on most purchases. You get 1.5 times the points on charges of $5,000 or more on qualified purchases, up to one million added points per year. You get five points per dollar spent buying 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, be 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 three 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 limitation to the amount you can earn. Get it here: https://creditcards.chase.com/credit-cards/small-business/ink-business-preferred
Take 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 is identical to the amount of money you supply 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 small business owners with inadequate personal credit to acquire 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 late on payments. Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
For a 0% APR time period, we like the Ink Business Cash ℠ Credit Card. You pay no annual fee. It’s got an interest-free time period. It has flexible cash-back rewards. There are spending limits for your employees. You will need 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 like the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn double points on everyday company purchases up to a yearly cap. The normal APR is 12.24% – 20.24% (variable). Get it here: https://creditcard.americanexpress.com/blue/
For Low APR/Balance Transfers Business Credit Cards, we prefer 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 charge. Afterwards, the purchase APR is a variable 10.49% – 18.49%; this is dependent on creditworthiness. There is no yearly fee. This card is just offered to those with great or excellent credit. Unfortunately, there is no rewards program for purchases. Get it here: https://www.usbankedge.com/credit/business-edge-platinum.do
Also, take 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 corporations can get double points on the initial $50,000 in purchases yearly. 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 have to have a credit score of 690 or higher. TAKE NOTE: the ongoing APR is 23.99% variable APR. Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/
Your absolute best business credit cards are dependent on your credit history and scores. Just you can determine which features you want and need, so be sure to do your homework. And, as always, make sure to build credit in the prescribed order for the maximum, fastest benefits.