WANT TO IMPROVE YOUR BUSINESS CREDIT & FUNDABILITY?
Subscribe to Our
Weekly Email Newsletter to Get Actionable Credit Building & Financing Info
We Respect Your Privacy
Published By Janet Gershen-Siegel at July 30th, 2018
Have you been wondering what are the best business credit cards for small business? Well wonder no more.
According to the SBA, business credit card limits are 10 – 100 times those of personal cards! This shows you can get a lot more cash with corporate credit. And it doesn’t matter if your business is a small one or a large one.
And it also means you can have personal credit cards at stores. You would now have a second card at the same retail stores for your business. Also, you will not have to provide collateral, cash flow, or financial information in order to get business credit.
Advantages vary, so be sure to select the perk you prefer from this assortment of alternatives.
For a 0% APR period, we prefer the Ink Business Cash ℠ Credit Card. You will 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 need to have a credit score of 690 or better to qualify.
For an introductory 0% APR period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. It has an introductory 0% APR for 15 Months. You can earn double points on regular company purchases up to a yearly limit. The regular 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 annual fee. There are cash back rewards. You will need a credit score of 690 or higher.
However, KEEP IN MIND: the ongoing APR is 23.99% variable APR.
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 during your first three months. Terms and limitations apply.
In addition, earn a $50 statement credit after you make a Delta purchase with your new card in your first three months. Earn two miles per dollar spent on purchases made directly with Delta. Also, earn one mile on each eligible dollar spent on purchases.
So check out the Business Platinum Card from American Express. Travel benefits include access to these airport lounge networks:
You also get Gold Status when you enroll in the Starwood Preferred Guest program. Also, there’s a $200 annual air travel fee credit. Also, there is a $100 credit towards the Global Entry application fee. And this includes access to TSA PreCheck program.
You get one point per dollar spent on the majority of purchases. Also, you get 1.5 times the points on charges of $5,000 or more on qualifying purchases. So this is up to one million more points yearly. You also get five points per dollar spent buying flights and prepaid hotels from the American Express Travel site.
Also, be 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. So this is in your first 3 months from account opening. Earn three points per dollar on the first $150,000 of purchases on travel, and also shipping purchases. Qualifying purchases also include internet, cable and phone. Also earn for 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.
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 also balance transfers. There is a 3% balance transfer cost. But thereafter, the purchase APR is a variable 10.49% – 18.49%, which depends on creditworthiness.
There is also no yearly fee. This card is just on offer for those with great or exceptional credit. However, there is no rewards program for purchases.
Also, check out 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 businesses can get double points on the first $50,000 in purchases every year.
Get it here: https://creditcard.americanexpress.com/blue/
Take a look at the Wells Fargo Business Secured Credit Card. It allows cardholders to procure a credit limit of $500 – $25,000. The amount available is the same as the amount of funding you supply to secure the line. Your purchase APR rate can be as low as a variable 13.15%.
The annual fee is $25. However, the more cards you have the higher your yearly fee is going to be. This card lets small business owners with poor personal credit get a card to set up business credit. But the card will only report to the personal credit agencies if you default or are overdue on payments.
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. Also, you get 5% cash back at US office supply stores and on wireless phone services from US service providers. However, this applies to the first $50,000 of yearly spending.
You also get 3% cash back on the spending category of your choice, from eight varying categories. So these include air travel, gas, advertising and computer purchases. However, this applies to the first $50,000 of yearly spending. You will also get 1% cash back on all other purchases.
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 within 60 days of account opening.
You also get 3% cash back on purchases at filling stations and office supply stores. So this is as much as $250,000 per year. And you get 2% cash back on purchases at restaurants. Also, you will get 1% cash back on all purchases. There is no yearly fee. It is available to applicants with exceptional credit. However, you can only redeem your cash back in $25 increments.
Furthermore, 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. So this is once they spend $3,000 on new purchases during the first three months of account opening.
New customers also get initial APR of 0% on purchases for nine months. There is no yearly fee.
Have a look at 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 within first three months.
Also, you get three points on your choice of five categories. You also get two times the points on the other categories. In addition, you get one point per dollar on all other purchases. It has a $0 annual fee for the first year, and after that your annual fee goes up to $175.
Also, check out the Business Platinum ® Card from American Express OPEN. You can earn as many as 75,000 Membership Rewards points upon account opening. Also, you can earn 50,000 Membership Rewards points after spending $10,000.
Plus you can earn an extra 25,000 points. So this is after spending an additional $10,000 in the first three months. Additionally you can get five times the Membership Rewards points on flights and also prepaid hotels on amextravel.com. But keep in mind; it has a $450 annual fee.
Your absolute best cards for small biz have a basis in your credit history and scores. Building business credit makes sense more than ever when you are looking for business credit cards. Your small business will benefit!
Just you can figure out which features you want and need, so be sure to do your research. And, as always, make sure to build credit in the proper order for the highest, fastest benefits. Check out how this will help your company get business credit cards.