Published By Janet Gershen-Siegel at January 15th, 2019
We looked at a substantial number of business credit cards. We did the research for you. So here are our favorites.
According to the SBA, company credit card limits are a whopping 10 – 100 times those of personal cards!
This means you can get a lot more cash with company credit. And this also means you can have personal credit cards at retail stores. So you would now have a second card at the same stores for your small business.
And you won’t have to provide collateral, cash flow, or financials in order to get company credit.
Benefits vary, so be sure to choose the perk you prefer from this range of possibilities.
For a 0% APR time period, we like the Ink Business Cash ℠ Credit Card. Also, you pay no yearly cost. It’s got an interest-free period. It has flexible cash-back rewards. There are spending limits for employees. But you will need a credit score of 690 or higher.
For an introductory 0% APR time period, we also prefer the Blue Business ℠ Plus Credit Card from American Express. So it has an introductory 0% APR for 15 Months. Also, you can earn twice the points on typical company purchases up to annual limit. But the regular APR is 12.24% – 20.24%. So this APR is variable.
Get it here: https://creditcard.americanexpress.com/blue/
For Fair Credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. But you will have to have a credit score of 690 or better.
But BEAR IN MIND: the standard 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. But this is after you make $1,000 in purchases on your new card. And it is during your very 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 3 months. Earn two miles per dollar spent on purchases made straight with Delta. Also, earn one mile per qualifying dollar spent on purchases.
Check out the Business Platinum Card from American Express. Travel benefits including access to these airport lounge networks:
You also receive 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, including 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 qualifying purchases. But this is up to one million added points each year. Get five points per dollar. But this is for buying flights and prepaid hotels from the American Express Travel web site.
Also, be sure to check out 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 in your first 3 months from account opening.
Get 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, get one point per dollar on all of the other purchases. There is no limit to the amount you can earn.
For Low APR/Balance Transfers Business Credit Cards, we like the U.S. Bank Business Edge Platinum. So you start with twelve months of 0% APR financing on new purchases and balance transfers. There is a 3% balance transfer charge.
Thereafter, the purchase APR is a variable 10.49% – 18.49%. And this is dependent on creditworthiness. There is no yearly fee. But this card is solely on offer to those with great or exceptional 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 corporations can earn double points. But this is on the initial $50,000 in purchases each year.
Get it here: https://creditcard.americanexpress.com/blue/
Check out the Wells Fargo Business Secured Credit Card. It enables cardholders to secure a credit limit of $500 – $25,000. The amount available corresponds to the amount of funding 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 higher your yearly fee is going to be.
This card lets business owners with poor personal credit to acquire a card to make purchases and establish business credit.
But the card will only report to the personal credit bureaus if you default or are late on payments.
Take a look at the SimplyCash Plus Business Credit Card from American Express. So you can earn up to $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 yearly spending.
You also get 3% cash back on spending category of your choice. So this is from eight separate categories. They include air travel, gas, advertising and computer purchases. But it applies to the first $50,000 of annual spending.
Plus you 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. But this is after $500 in purchases . And that is within 60 days of account opening.
You also get 3% cash back on purchases at gasoline stations and office supply stores. But this is up to $250,000 annually.
Also, you get 2% cash back on purchases at restaurants. And get 1% cash back on all purchases. Also, there is no annual fee. But it is available to applicants with outstanding credit.
But you can only redeem your cash back in $25 increments.
Additionally, have a look at the Spark Cash Select from Capital One. So you get 1.5% cash back on all purchases. So this is without any restrictions.
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 within 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 other categories.
Also, get one point per dollar on all other purchases. It has a $0 annual fee for the first year. But afterwards your yearly fee rises to $175.
Also, check out the Business Platinum ® Card from American Express OPEN. So you can earn as much as 75,000 Membership Rewards points at the time of account opening.
Also earn 50,000 Membership Rewards points. But this is subsequent to spending $10,000.
In addition, get 25,000 more points. But that is after spending an additional $10,000 all on eligible purchases. But this is during the initial three months.
Plus you can get five times the Membership Rewards points. So this is on flights and pre-paid hotels on amextravel.com. But it has a $450 annual fee. Yikes!
Your greatest business credit cards are based upon your credit history and scores.
Only you can decide which perks you want and need. So make sure to do your research. What is excellent for you could be disastrous for someone else.
And, as always, make sure to build credit in the recommended order for the most incredible, fastest benefits. Check out how this will help your company get business credit cards.