Published By Janet Gershen-Siegel at November 17th, 2018
Are you searching for the best business Visa card? We examined a ton of small business credit cards; here are our favorites. And as a special bonus, we are also showing other providers’ cards.
Because even though you’re looking for a Visa card, you could conceivably find a better deal from American Express or MasterCard.
Per the SBA, business credit card limits are 10 – 100 times those of personal cards! This means you can get a lot more money with corporate credit. And it also means you can have personal credit cards at shops.
So you now have a second card at the same stores for your small business. And you will not have to provide collateral, cash flow, or financials in order to get business credit.
Benefits vary, so make sure to pick the perk you prefer from this array of choices.
For a 0% APR time period, we prefer the PNC Bank Cash Rewards® Visa Signature® Business Credit Card. Get a $200 bonus if you spend $3,000 in the first 3 billing cycles after account opening. Earn 5% cash back on net purchases, no cash back limits. There is no annual fee. Pay a 0% APR for the first 9 billing cycles after account opening. And then pay a 10.99-19.99% variable APR, based on creditworthiness.
With mostly lower interest rates and an easy to meet minimum spend, this card is good if you can’t or won’t spend so much in such a short amount of time after getting the card.
For Fair Credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. TAKE NOTE: the standard APR is 26.99% variable APR.
Be sure to Check out the
Synovus Business Travel Rewards Visa Credit Card. Pay a 0% APR for the first six months for purchases, balance transfers, and overdraft protection. Pay a $0 membership fee for the first year, then $50 per year.
Get quintuple points on up to $5,000 per year spent on travel purchases, including hotel, airlines, car rental, vacation packages, etc. Get triple points on up to $3,000 spent quarterly for purchases in category of choice. And get one point per dollar on all eligible purchases, no limit on points.
You can pay purchases with points (there are some restrictions). Points are worth 20% more for travel redemption. Pay no foreign transaction fee. If you travel a lot, this card’s perks make it worthwhile.
For Low APR/Balance Transfers Business Credit Cards, we like the Alpine Bank Visa Platinum Rewards card. You pay no annual fee. Get one point per dollar spent. Get bonus points: 5,000 for first $3,000 spent in first four billing cycles.
The APR for purchases is Prime + 8.74-14.74%. And the APR is 21% for cash advances. Pay a balance transfer APR 10% or 3% of the amount of each transfer, whichever is greater. This is a good card for both APR and the amount you need to spend for a bonus is fairly low.
Take a look at the Citi Bank Costco Anywhere Visa® Business Card. Get 4% cash back on eligible gasoline purchases, including buying gas at Costco, but this is only for the first $7,000 per year. After that, get 1% cash back. Get 3% cash back on restaurant and eligible travel purchases. Earn 2% cashback on all other purchases from Costco and Costco.com. And get 1% cash back on everything else. There is no annual fee. There are no foreign transaction fees. You must be a Costco member before applying. Pay a 15.24% variable APR.
While the 4% cash back offer is limited to just the first $7,000 per year, you will have to buy over 2,000 gallons of gasoline if they average $3.50 per gallon to hit the limit. If you think it’s unlikely you would meet that limit, and you’re already a Costco member, this could be a good card, with an APR that is decent .
Get it here.
Take a look at the Mechanics Bank Smart Business Rewards Visa. Pay a $0 introductory annual fee for the first twelve months, then $95 for the first year and every year after $95 for Account Owners, $0 for Authorized Employees.
Double points per dollar spent in top two spend categories per month. Get 20,000 bonus rewards points if you spend $500 in the first 90 days. The APR for purchases and balance transfers: 15.99-20.99% per creditworthiness. This is a very generous bonus for an incredibly low spend.
Check out the Wells Fargo Business Secured Credit Card. A Wells Fargo business checking or savings account must be open before applying. Upon approval, your funds will be transferred from the deposit account to fund the credit line. Get a $500 to $25,000 credit line, based on the amount of funds deposited by you as security in a collateral account. Pay no annual fee and no foreign transaction fee.
Get up to 10 employee cards. Pay a prime + 11.90% APR on purchases. And pay a prime + 20.74% APR on cash advances. Cash advance or balance transfer fees may apply.
Choose between Cash Back or Rewards Points. There is no annual rewards program fee. There are no required spending categories or caps. Earn 5% cash back for every $1 spent on net purchases. Receive cash back automatically as a credit to your account or to your eligible checking or savings account each quarter.
If you choose rewards points, you will earn 1 point for every $1 spent on net purchases. Get 1,000 bonus points when your company spends $1,000 or more in any monthly billing period. Redeem points for gift cards, merchandise, airline tickets and more. Get a 10% points credit when you redeem points online. And you can earn extra bonus points or discounts from Earn More Mall® retailers.
Wells Fargo reports your payment and usage behavior to the Small Business Financial Exchange. Payment and usage activity of the Wells Fargo Business Secured card is not reported to the consumer credit bureaus, therefore it will not help build or rebuild personal credit history. Wells Fargo will periodically review your account and recent credit history for an opportunity to upgrade to an unsecured business credit card. You may become eligible with responsible use over time. Being able to upgrade to an unsecured business credit card also depends on your FICO score, payment history and ratio of credit card usage to credit limit.
Your best business Visa card hinges on your credit history and scores. Just you can make a decision on which rewards you want and need. So always make sure to do your homework. And, as always, make certain to build credit in the prescribed order for the maximum, fastest benefits. Because once you have built business credit, then guess what? You can get pretty much any business credit out there. They are yours for the choosing!