Published By Janet Gershen-Siegel at December 30th, 2018
Are you on the prowl for the best business credit cards for new business? Then take a look at this post. This is because we did the research for you.
According to the SBA, company credit card limits are 10 – 100 times those of personal cards! This shows you can get a lot more cash with company credit. And it also means you can have personal charge cards at shops. So you would now have an alternate card at the same stores for your company.
And you won’t have to have collateral, cash flow, or financial information to get business credit.
Advantages vary. So make certain to select the reward you prefer from this variety of possibilities.
Take a look at the Wells Fargo Business Secured Credit Card. It allows cardholders to secure a credit limit of $500 – $25,000. The amount on offer matches the amount of cash you provide to secure the line.
Your purchase APR rate can be as low as a variable 13.15%. The yearly fee is $25. But the more cards you have the more expensive your yearly fee is going to be.
This card allows small business owners with bad personal credit to get a card to make purchases and develop business credit. But the card will only report to the personal credit agencies if you default or are overdue on payments.
For Fair Credit, we are partial to the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards.
But you will need to have a credit score of 690 or better. KEEP IN MIND: the standard APR is 23.99% variable APR.
Learn more here and get started toward growing small business credit.
For Travel Points, we incline toward 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 that is within your first three months. Terms and limitations apply.
In addition earn a $50 statement credit. But it is after you make a Delta purchase with your brand new card. And it must be within your first three months.
Earn two miles per dollar spent on purchases made straight with Delta. And earn one mile on each 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 register for 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. And this includes access to the TSA PreCheck program.
You get one point for every dollar spent on the majority of purchases. And you get 1.5 times the points on charges of $5,000 or more on qualified purchases. So this is up to one million more points annually.
You get five points per dollar. But they must be spent buying flights and prepaid hotels from the American Express Travel web site.
Also, make sure to check out the Ink Business Preferred Card from Chase. Get 80,000 bonus points. But that is after you spend $5,000 on purchases. And it is in first 3 months from account opening.
Earn three points for each dollar. But this is on the first $150,000 spent in combined purchases. And they must be on travel, shipping purchases, internet, and cable and phone. They can also be on 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 restriction to the amount you can earn.
Consider the Business Gold Rewards Card from American Express OPEN. You can get 50,000 Membership Rewards points. But that is after $5,000 in purchases on the card. And this is within the first three months.
You get three points on your choice of five categories. And get two times the points on the other categories. Also, get one point per dollar on all other purchases.
It has a $0 annual fee for the first year. But then your annual fee increases to $175.
Also, have a look at the Business Platinum ® Card from American Express OPEN. You can earn as much as 75,000 Membership Rewards points at the time of account opening.
You can also get 50,000 Membership Rewards points. But that is after spending $10,000.
And get an extra 25,000 points. But this is after spending an added $10,000 all on qualified purchases. And it is during the initial three months.
And also you can get five times the Membership Rewards points. So these are on airline flights and pre-paid hotels on amextravel.com. But it has a $450 annual fee.
Learn more here and get started toward building small business credit.
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. So this is on new purchases and balance transfers.
But there is a 3% balance transfer charge. Thereafter, the purchase APR is a variable 10.49% – 18.49%. So that depends upon creditworthiness.
There is no annual fee. This card is just on offer to people with great or outstanding credit. But there is no rewards program for purchases.
Also, have a look at the Blue Business Plus Credit Card from American Express. It has a 15-month introductory 0% APR offer. There is no annual fee.
Right now companies can get double points on the initial $50,000 in purchases yearly.
Get it here: https://creditcard.americanexpress.com/blue/
For a 0% APR time frame, we like the Ink Business Cash ℠ Credit Card. You pay no yearly cost. It’s got an interest-free period. It has versatile cash-back rewards. There are spending limits for employees. But you will need to have a credit score of 690 or higher.
For an introductory 0% APR period, we also go for the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months.
You can earn double points on routine business purchases. But that is up to an annual limit. The normal APR is 12.24% – 20.24%. So the APR is variable.
Get it here: https://creditcard.americanexpress.com/blue/
Learn more here and get started toward getting fantastic business credit cards.
Get a $200 statement credit. But that is after spending $5,000. You get 5% cash back at US office supply stores and on wireless phone services. But they must be bought straight from US service providers. So this applies to the first $50,000 of annual spending.
You also get 3% cash back on spending category of your choice. And these include eight separate categories, like air travel, gas, and advertising and computer purchases. So this applies to the first $50,000 of annual spending. Additionally you get 1% cash back on all other purchases.
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. But this is after $500 in purchases. And this is during 60 days of account opening.
You also get 3% cash back. And this is on purchases at gasoline stations and office supply stores. So this is up to $250,000 per year. And you get 2% cash back on purchases at eateries. And get 1% cash back on all purchases.
There is no annual fee. It is on offer to applicants with outstanding credit. But you can only redeem your cash back in $25 increments.
Furthermore, take a look at the Spark Cash Select from Capital One. You get 1.5% cash back on all purchases. So this is without limits.
New cardholders can also get a $200 cash bonus as soon as they spend $3,000 on new purchases. But this is within three months of account opening.
New customers also get introductory APR of 0% on purchases for nine months. There is no annual fee.
Your optimal corporate credit cards depend on your credit history and scores. Just you can make a decision on which benefits you want and need. So make sure to do your homework.
And, as always, make certain to build credit in the prescribed order for the optimum, fastest benefits. Check out how this will help your company get the best business credit cards for new business.