Published By Janet Gershen-Siegel at January 9th, 2019
We had the best business credit cards for fair credit on the brain! So we researched a ton of company credit cards. We did the research for you. So here are our favorites.
According to the SBA, corporate credit card limits are a whopping 10 – 100 times that of personal cards!
This shows you can get a lot more cash with corporate credit. And it also means you can have personal credit cards at retail stores. So you would now have a second card at the same retail stores for your company.
And you won’t need to have collateral, cash flow, or financial information in order to get business credit.
Benefits vary, so make certain to select the benefit you prefer from this collection of choices.
Perks vary. So be sure to choose the reward you prefer from this collection of options.
The best business credit card for fair credit is a no-brainer. So we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. But you will need a credit score of 690 or higher.
But TAKE NOTE: the ongoing APR is 23.99% variable APR.
Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to obtain a credit limit of $500 – $25,000. The amount available matches the amount of money you provide to secure the line.
Your purchase APR rate can be as low as a variable 13.15%. And the annual fee is $25. But the more cards you have, the more expensive your annual fee is going to be.
This card lets small business owners with poor personal credit to get a card to make purchases and develop business credit.
But the card will just report to the personal credit bureaus if you default or are late on payments.
For an introductory 0% APR period, we go for the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn double points on day-to-day company purchases up to a yearly cap. But the regular APR is 12.24% – 20.24%. So this APR is 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. So you start off with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer cost.
Thereafter, the purchase APR is a variable 10.49% – 18.49%. And this depends upon creditworthiness. There is no yearly fee. But this card is just available to those with great or outstanding credit. But there is no rewards program for purchases.
Also, take a 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 businesses can earn double points. But this is on the initial $50,000 in purchases annually.
Get it here: https://creditcard.americanexpress.com/blue/
Take a look at the SimplyCash Plus Business Credit Card from American Express. So you can earn as much as $400 cash back. Get a $200 statement credit. But this is after spending $5,000.
Also, get 5% cash back at US office supply stores and on wireless phone services. So these must be bought from US service providers. But this applies to the initial $50,000 of annual spending.
You also get 3% cash back on the spending category of your choice. So this is from eight separate categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending.
And also you get 1% cash back on all other purchases.
Furthermore, consider the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is with no limitations.
New cardholders can also get a $200 cash bonus. But that is as soon as they spend $3,000 on new purchases. So this is during the first three months of account opening.
New customers also get initial APR of 0% on purchases. But that is for nine months. Also, there is no yearly fee.
Take a look at the Business Gold Rewards Card from American Express OPEN. So you can get 50,000 Membership Rewards points. But this is after $5,000 in purchases on the card during first three months.
Also, you get three points on your choice of five categories. In addition, get two times the points on the remaining categories.
Also, get one point per dollar on all other purchases. It has a $0 yearly fee for the first year. But after that your yearly fee climbs to $175.
For Travel Points, we like the Gold Delta SkyMiles Business Credit Card from American Express. Get 30,000 bonus miles. But this is after you make $1,000 in purchases on your new card. And it is within your first three months. Terms and limitations apply.
Also earn a $50 statement credit. But this is after you make a Delta purchase with your card. And it is in your first three months. Earn two miles per dollar spent on purchases made straight with Delta. Also, 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 enroll in 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, which includes access to TSA PreCheck program. And you also get one point for every dollar spent on most purchases.
Also, you get 1.5 times the points. But this is on charges of $5,000 or more. And it is on eligible purchases. But this is up to one million added points per year. Get five points per dollar. But this is for purchasing flights and prepaid hotels from the American Express Travel website.
Also, make sure to take a look at the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But this is once you spend $5,000 on purchases. And it is within your first three months from account opening.
Earn three points for each dollar. But this is on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, and cable and phone. It is also on advertising purchases made with social media sites and search engines. But this is for each account anniversary year.
Also, earn one point per dollar on all of the other purchases. There is no limitation to the amount you can earn.
Your best company credit cards hinge on your credit history and scores.
Only you can make a decision on which features you want and need. So be sure to do your due diligence. What is excellent for you could be disastrous for someone else.
And, as always, make certain to build credit in the established order for the most brilliant, fastest benefits. Check out how this will help your company get the best business credit cards for fair credit and more.