Published By Janet Gershen-Siegel at June 25, 2018
Written by Janet Gershen-Siegel
Are you searching for the best business credit cards for average credit? Then look no further, for we have done the research on cards and a number of different perks, too!
Per the SBA, small business credit card limits are 10 – 100 times those of personal cards! This shows 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 a second card at the same retail stores for your business. And you will not have to put up collateral, cash flow, or financials in order to get small business credit.
Benefits vary, so make sure to pick the perk you prefer from this array of possibilities.
Check out the Wells Fargo Business Secured Credit Card. It lets cardholders get a credit limit of $500 – $25,000. The amount available matches how much you provide 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 is. This card lets small business owners with average credit get a card to make purchases and develop business credit. The card will just report to the personal credit agencies if you default or are behind on payments.
For a 0% APR time frame, we love the Ink Business Cash ℠ Credit Card. You pay no yearly fee. 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.
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. Earn double points on typical business purchases up to a yearly cap. The standard APR is 12.24% – 20.24% (variable).
Get it here: https://creditcard.americanexpress.com/blue/
Consider the SimplyCash Plus Business Credit Card from American Express. Earn up to $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 first $50,000 of yearly spending.
You also get 3% cash back on spending category of your choice. This is from eight distinct categories. They include airfare, gas, advertising and computer purchases. It applies to the first $50,000 of yearly spending. Plus you get 1% cash back on all other purchases.
Also, look at the Bank of America Business Advantage Cash Rewards MasterCard Credit Card. With it, earn a $200 statement credit after $500 in purchases in 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 get 2% cash back on purchases at restaurants, and 1% cash back on all purchases. There is no yearly fee. It is only for applicants with outstanding credit. You can only redeem your cash back in $25 increments.
In addition, look at the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases, without limits. 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 an APR of 0% on purchases for the first nine months. There is no yearly fee.
For Fair Credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. You will need a credit score of 690 or better. BEAR IN MIND: the ongoing APR is 23.99% variable APR.
For Travel Points, we like 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 in the first three months. Earn two miles per dollar spent on purchases made straight with Delta. Earn one mile per qualified dollar spent on purchases.
Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:
You also get Gold Status when you sign up for the Starwood Preferred Guest program. There is also a $200 yearly 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 the majority of purchases. Also, get 1.5 times the points on charges of $5,000 or more on eligible purchases, up to one million extra points yearly.
Get five points per dollar spent purchasing flights and prepaid hotels from the American Express Travel site.
Also, look at the Ink Business Preferred Card from Chase. Get 80,000 bonus points after you spend $5,000 on purchases in the 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 for each dollar on all of the other purchases. There is no limitation to the amount you can earn.
For Low APR/Balance Transfers Business Credit Cards, we prefer 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 charge. After that, the purchase APR is a variable 10.49% – 18.49%, which is dependent on creditworthiness. There is no yearly fee. This card is only for those with great or superb credit. However, there is no rewards program for purchases.
Get it here: www.usbankedge.com/credit/business-edge-platinum.do
Also, look at 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 get double points on the first $50,000 in purchases each year.
Get it here: https://creditcard.americanexpress.com/blue/
Look at the Business Gold Rewards Card from American Express OPEN. Get 50,000 Membership Rewards points after $5,000 in purchases on the card in the first three months. Also, get three points on your choice of five categories. Plus, get two times the points on the remaining categories. And get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But afterwards your yearly fee goes up to $175.
Also, check out the Business Platinum ® Card from American Express OPEN. Get up to 75,000 Membership Rewards points at the time of account opening. Also, get 50,000 Membership Rewards points after spending $10,000. Plus, get an extra 25,000 points after spending $10,000 more all on qualifying purchases in the first three months.
And also get five times the Membership Rewards points on airline flights and prepaid hotels on amextravel.com. However, it has a $450 yearly fee.
Your best business credit cards for average credit have a basis in your credit history and scores. Just you can choose which advantages you want and need. So be sure to do your due diligence. And, as always, make certain to build credit in the prescribed order for the best, fastest benefits. Your best business credit cards for average credit could be right around the corner.